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Ask Dave

Are Pro Rata Letters Enough?

The pro rata letter does not guarantee that Carol is not going to get sued, and it does not get her out of debt any faster.

QUESTION: Carol and her husband have been sending pro rata letters to the credit card companies.  But now they have received a letter from a collector in regard to a $9,800 credit card debt.  What can Carol and her husband do to avoid being sued over this debt?  Isn’t the pro rata letter enough?

ANSWER: The pro rata letter does not guarantee that you’re not going to get sued and it does not get you out of debt any faster.  You need to make extra payments on your smallest debt while making the minimum payments on all other debts.  That’s how you get out of debt.  Even with the pro rata letters, they can still come after you.