How to get cc to give you the 5 year plan.

Call them up and act a little stupid - that you have heard that they may be able to put you on a hardship program at 0% for five years as an alternative to bankruptcy and see what they do. Do not tell them that your income has gone up. If they see light at the end of the tunnel they won't do it.

Greetings,

boa-the snake offered me a five year payoff at 2%.

They tried their best to set the hook.

As DFTB said just call'em up and ask if they can help you out.

Good Luck,
King "Kash" Jabba Labba

Think VERY carefully before you do this however. The reason is this:

If you agree to this plan they will send you piece of paper to sign. Outlining the terms (interest, term, what it will cost etc etc). This is basically a new contract where they are rolling the open ended account you have now into a new closed ended loan (i.e. you dont have access to any more credit from them) .This is ok assuming nothing changes for you for the worse and you can pay it off as agreed. There are some things to think about though.

1- This new piece of paper represents a new contract and in many states the SOL on a signed contract is much much longer than SOL on an open account (like a credit card). This gives them much more breathing room to sue you on, and much longer to let the fees pile up for a larger suit without them worrying about it going out of statute.

2- Their paper trail is much easier to keep a hold of if they do go to court. All they basically have to keep track of (and sell to 3rd party buyers if you default) is that one ittty bitty piece of paper you signed.

Not saying its bad to go on the hardship programs, in fact it could be very very good but in my humble opinon its more expensive than settling the debt and if you get to a point of being on a hardship program your credit is basically abused anyway if that is a motivator for you.