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hardship programs





Sub: hardship programs
Fri, 01/04/2011 20:11

I am currently on a hardship program with Discover. They have reduced my payments by about 50% and reduced my interest about 12%, but did not reduce the amount i owe. My question is: Should I also ask them if they can also reduce the amount i owe? Has anyone ever had success with this? Can I continue making payments as well as asking them to reduce the amount i owe?

Thank you everyone.

God bless



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Sub: #1 It's worth trying!Fri, 04/01/2011 - 20:11



It's worth trying!


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Sub: #2 I have a card with Bank of America. Somehow my statements stoppeMon, 02/15/2010 - 05:38



I have a card with Bank of America. Somehow my statements stopped coming by snail mail and I missed a payment. I was called by them and I paid it over the phone. I asked why I was not recieving my statements. They didnt know. The next month the same thing happened. I believe it was August and Sept. January 1, 2010 they raised my rate from 8.5% to 27.25%. I called and talked to at least 5 different people who said they cant change it and was told to write a letter to the president which I did and again nothing happened. I notified them I was only going to pay the 8.5% and on my January statement that is all I paid. A few weeks later I got a call from them saying that my payment was late. I said it was on time but I was not paying the 27%. The person on the phone very nicely said well why dont you use the hardship program? I didnt know about it but I did sign up for it at that time. My rate for next month payment is 7.4%


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Sub: #3 Quote:Originally Posted by AnonymousI am curious as to how peoplThu, 02/04/2010 - 09:16



Quote:
Originally Posted by Anonymous
I am curious as to how people are justifying "hardship." What are some key phrases that any of you used, or situations you descirbed, that got you to qualify?



Part of our town was in a flood last spring that took out the sanitary sewer system. We were asked to evacuate, tho few did. We had porta potties on each street corner for a month or so.

We are in a tourism based business. Needless to say, business income dropped to ZERO. Also our building took on some damage that will cost about $30,000 to repair....don't know when or if we'll be able to do that.

They just finished sewer repairs in Nov., so hopefully things will slowly come back. Our streets are still shot from all the heavy truck traffic for the dike building & removal, but that will be years to get all fixed.


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Sub: #4 AdvantageMon, 02/01/2010 - 16:27



Quote:
Originally Posted by Anonymous
I am curious too as I tried with Advanta and they just flat denied me any assistance. How many payments, if any, were you behind?



Just wanted to let you know that Advantage is a closed bank.. they are unwilling to neg. lower apr.. but I can arm you with this.. I would be persistant.. they are currently working with debt consolidation companys and giving a ZERO yes ZERO percent interest rate.. so hang in there thier is hope...


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Sub: #5 hi lukef, what exactly did you say to them? what questions did tSat, 01/16/2010 - 15:53



hi lukef, what exactly did you say to them? what questions did they ask you?


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Sub: #6 I had the same situation with Citi. I called them today and TheyMon, 01/11/2010 - 22:36



I had the same situation with Citi. I called them today and They reduce interest to 0% for 60 months. automatic draft from your checking. You don't have to miss any payment. good luck


love_my_things
love_my_things

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Sub: #7 well im not too familiar with the way things are with mortgages Mon, 01/11/2010 - 11:30



well im not too familiar with the way things are with mortgages and such but call them and see if they can help you out i know my bank would allow me to defer 1 payment every 2 years so it was only for a 10 year loan though. i tried to not use it unless i absolutely had to incase i would really really need it later though. but i know there are more things comming out to help the homeowner now scince last year. maybe someone else can tell you something more for sure, but it doesnt hurt to ask!

my blog about saving money during a recession, And my personal story about Provanta's debt settlement program and how it worked for my family


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Sub: #8 I have a Mortgage with BOA and dont have funds available to pay Mon, 01/11/2010 - 11:20



I have a Mortgage with BOA and dont have funds available to pay this months payment.

I only need a break from mortgage for about 6 months and then i should be ok.

What are my options and is there any hardship plans for home loans?


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Sub: #9 :)yes ask about the obama affordability plan ,see if they can moMon, 01/11/2010 - 04:16



:)yes ask about the obama affordability plan ,see if they can modifi your loan that way ,look plan up in search engins to read more


love_my_things
love_my_things

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Credits: 12763.15 Send message to love_my_things

Sub: #10 look at it this way it doesnt hurt to ask, explain your situatioSun, 01/03/2010 - 13:40



look at it this way it doesnt hurt to ask, explain your situation and if they say no, you are no worse off than you were before.

my blog about saving money during a recession, And my personal story about Provanta's debt settlement program and how it worked for my family


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