citibank hardship

Just wanted to let you know that Citibank is working with me on a hardship program. I was able to set my payment for about half of what I was paying and lower the interest rate to 8% for the next six months. After that, the terms revert to the current ones. That's fine. It buys me some time. They also said that once the six months are up, if I have at least 2 ontime payments, we can talk about lowering the interest rate on the balance.

American Express told me (again) that they don't have any internal programs so to contact someone else for a dmp. Oh well. I tried! I did have them delete my work number from their system, told they I could not pay this month, was looking for a DMP company, and would update them once I knew my plan of attack. They marked that all in my file so hopefully they won't be calling me all the time. Wishful thinking!

Am EX just gave us 6 months no interest and 6 months at 9.9. Still 2% of balance due payment, but at least the no interest means the balance will actually begin to come down.
After that will look at what we owe and possible renegotiate or interest rate will be no higher than 13.24%. I actually expected them to be the most difficult of creditors that I worked with.

oh...believe me they are the most difficult. Wait until you can't pay the 2%....outside legal waits in the wings..that's what happened to me

grr. i hate citibank.Â* frankly i would advise no one to use them.Â* but then again that was 4 years ago i hear they are getting better

MY FIRST MORTGAGE IS WITH WELLS FARGO, MY SECOND MORTGAGE IS WITH CITIBANK, BOTH LOANS WERE DONE AT THE SAME TIME (WHEN I PURCHASED THE HOUSE) I HAVE BEEN TALKING TO WELLS FARGO ABOUT THE HARP PROGRAM OR ANY OTHER ASSISTANCE I CAN GET TO HELP LOWER MY PAYMENTS. THEY SAID TO CHECK WITH CITIBANK TO SEE IF THEY WILL BE WILLING AND ABLE TO SUBORDINATE UNDER THE NEW HARP LOAN. IF YOU CAN TELL ME IT WOULD BE GREATLY APPRECIATED. THANK YOU IN ADVANCE.

i put three of my cards into the hardship program. ge money is the worst, stating that they're going 4 months, then 2 months, then they re-evaluate. chase was pretty good to work with, not perfect, but pretty good. bank of america was the best. they put me in their hardship program until the debt is paid off. it's probably not as good as settlement, but it doesn't hurt my credit, and the cards are getting paid off.

saying that its not better than settlement, it all depends on the outcome you are looking for. No program is better than the other unless you are looking for certain results. I would advise that if you can afford the hardship programs, then by all means do that. it is better for your credit, and you still get them paid off.

AMX has put me under their hardship program. Lowered my interest to 9%, with the same payment amount each month for a year on a given day and I can't miss that days deadline or it reverts back to the original terms. Also no late fees or interest. But they as well canceled the account which is not the worst thing. After the year is up then the it's back to square one and I pay as I did when it was active. But beware if you set up a program as this with any card company and write down everything the rep tells you as well as name and time etc. Document everything and get a confirmation number if you can or a letter stating the terms. AMX rep somehow misplaced my paperwork and I was turned over to a collection agency and it was a mess getting it back to AMX and having lost 2 months fighting to be put back with the terms we agreed on. I was short of writing the CEO of the mess before I spoke with the Mgr of their credit dept. But the Credit card company help is out there. Don't take no for an answer.These are tough times and we all need to work together.

With BOA dont let Customer service transfer you anywhere they will send you to a credit analyst and take away half your available credit. Try and find the direct number for the hardship department.