Currently in inhouse hardship now starting debt management program - have question
Date: Thu, 09/09/2010 - 13:46
My wife just signed up for a debt management program with Incharge Debt Solutions. Several of our accounts are currently in inhouse hardship programs with either GE, GE Money Bank or Target. The GE accounts total over $10,000. Target is about $3,000. We currently are at 0% on all of the GE accounts and at 6% for Target. The hardship were set up as paydowns to be paid off in 40 months. We are halfway through those programs but can no longer afford the high payments. We enrolled with Incharge hoping to have lower payments but realizing that we will lose the 0% and 6% rates that we have.
Now the question is what will happen with these accounts when they receive the proposals from Incharge since we currently are in inhouse hardship programs. Will the proposals be declined?
Now the question is what will happen with these accounts when they receive the proposals from Incharge since we currently are in inhouse hardship programs. Will the proposals be declined?
There's no way of knowing, really. It depends on how attractive
There's no way of knowing, really. It depends on how attractive the offer is to the creditor. They may accept it, they may counteroffer, they may ignore it.Why not call them up yourselves and tell them you can't afford the payments and would like to have the account reviewed. They may be able to lower your payment and keep your interest rate the way it is - without having to get a third party involved.