hardship programs

Does anyone know if you can just go on line and cancle the hardhsip program? I am having trouble even making the payments they offered me? I am filling bankruptcy and need then to stop taking the payments out of my checking account. I've lost the agreement and web address for the hardship programs. No one on the phone seems to know what i'm talking about or ever willing to help me figure out how to stop the payments. I didn't tell them about bankruptcy of course. Becasue then I know they wouldnt help.

A "hardship program" is a program that credit card companies sometimes offer to people who have had either an illness, loss of job, etc., that has caused them not to be able to make the minimum payment on their cards. They usually will either suspend payments of a certain period or offer you alower payment option. The problem with this is that when the time period is up, you will be right back where you are now and usually with more debt..interest piling up. This is a good option if you anticipate that your financial situation will greatly improve by the end of the hardship period. If you don't think it will improve then you are just delaying trying a better course of action. Your other choices are bankruptcy, debt consolidation or debt settlement.

Bankruptcy is pretty drastic but may be right for you. Just remember that it will stay on your credit for 10 years and effect your ability to borrow money in the future. The laws are more difficult now then they used to be and not everyone will be able to declare bankruptcy and you may still have to pay a portion of your debts.

Debt consolidation reduces your interes rate but not the principal balance you owe. So, your payments will be less but not as low as with debt settlement. Debt settlement reduces your debt up to 60%. You will have to stop paying on your credit cards in order for the debt settlement company to negotiate your balance. Both debt settlement and debt consolidation effect your credit but, once your debts are settled your credit score will begin to go back up.

Trying to contact Best Buy/HSBC to find someone to talk to about hardship program-Anyone know a good phone number to call

I was at 29.99% and $335.00 per month with Discover, I called in and told them my employer had cut back my wages which was true. They transferred me to the hardship department and I was offered 3.9% for six month's if I paid the same amount I was paying and signed up for automatic withdrawals. After 6 months I can renew for another 6. the number is (866) 567-1660

Just don't say you're on unemployment. BOA denied me hardship because my only income is unemployment. Uh, HELLLLOOOO if that's not hardship, what is?

Stop paying, after two months they will be calling you to offer a hardship.

there are ways to get your hardship rates down to 0%. i do it everyday

well, depending on the bank. all depends on the right number you call. but if i had more info i could walk you through it

hope to hear from ya soon
Email removed for your safety-see TOS rules..Bossy4455

depending on the bank you have. all depends on the right number you call, cant call cust serv # cause you have to deal with a hardship department or "payment assistance" or "fixed pay" department, or "collections department" one of those will work for ya. or just get a new bank account...lol

to cxl with discover call 1800 347-47791 you'll know you're there cause you'll hear a beep every 30 seconds letting you know the call is recorded. BTW i could of got you a 3.9% rate with disc. very easy to do

no the number i know, cause i do it everyday is 1800 347 4779. ask for the 3.9% for 12 MONTHS. they have that program also. i do it everyday

STEWART - that hardship program is bunch of BS. the good hardship programs ( and i do it everyday) are the ones that liquidate your balance to be paid off in 5 yrs. so take your balance divide by 60(months) and there you have it, thats the payment you could get if you can speak true game to these criminal banks.....damn i'm good

ya BOA denied you b/c you're unemployed!!!!! duh!!! unemployment doesnt last forever, so that's not a guarenteed source of income that's going to last forever. now does it make sense????? look at it this way, if you're unemployed most likely you can't afford the new hardship payments, and if you're thinkin "well it's less, it puts me in a better situation" you're wrong cause BOA doesnt wanna know how you're able to make the payments if your income is unemployment or elsewhere off the record.

The credit card companies will not reduce the amount you owe unless you settle with them. Typically credit card companies will not settle with you unless you use a debt management company or the account goes into collections. A lot of companies have really good hardship programs you just really need to know how to get into them by playing a little bit of hardball and writing down a financial outline of EVERYTHING AND ANYTHING that you spend money on each month to show them that you truely are living paycheck to paycheck. but your outgoing amount cannot exceed your income and your income can not exceed your outgoing amount by a whole lot. Trust me I deal with hardship programs EVERYDAY! When enrolling in a hardship program you can either be on fixed income or getting some kind of pay cut. you cannot be jobless. and let the credit card companies know that you're living paycheck to paycheck to make the reps understand even more. Chase has bal. liquidation program that you get set up on for 60 mo (5 years) it lowers your payment and gets your APR down to approx 6% depending on the financial situation and your balance on your card. Discover has some really good offers as well, HOWEVER they only last for 12 mo and your acct is suspended then you have to go back in after the 12 mo and either reapply or ask them to unsuspend your acct. FYI Advanta doesn't do anything because they are actually closed. they are just waiting on everyone to repay them. they still have collection agencies that work for them so you don't want to just not pay it

Also, BOA is the worst bank to try to get into a hardship program. they make you try to qualify for their Consolidation dept. (which closes ALL OF YOUR ACCTS)(AND HAS A HUGE FEE!) and if you don't qualify for that then they'll put you on their hardship program