Re: Has anyone had success with credit hardship programs

Posted by Rlee from Oh (199.35.102.23) on November 25, 2003 at 00:55:36:

In Reply to: Has anyone had success with credit hardship programs posted by sharpturn on November 24, 2003 at 23:27:08:

One time I had success with a hardship plan.
on a $ 5,000.00 account I ended up with a $ 95.00 pmt for 12 months with a 1% interest rate. I was required to go with a automatic withdrawal. They put everything in writing. Also the account was closed out.
It will be some work on your part to get all three of your accounts to go along, but be persistant, and if you get one to go along use it to your advantage by telling the next company what you were able to work out with XYZ company. These companies have different departments that more or less leeway in working out programs.
As far as information, before calling them take some time and list on paper all your living expenses, insurances,
etc. inflate everything so you cover things overlooked. keep the information for your records so you know what you told them. In my case we went over everything, utility bill averages, rent, vehicle pmts, monthly gasoline expense, monthly estimated auto repairs. Open up another bank account and do not tell them about it, that way if things go bad, you simply close the account you gave them the information about, and you if you open it now, you will be ready if necessary.

Good luck, and hope you get back to work soon.

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