WFNNB is ridiculous
Date: Tue, 05/03/2011 - 11:19
This is ridiculous. My wife and I just completed their hardship program, and as a result our monthly minimum payment doubled. Which we can't afford. I've called every number I could find over the last couple of days and the best they can offer is missing a few payments to see if someone in the collection department could help me.
It's completely absurd. I have paid them on time every month since entering the program, working very hard to get my credit back on track. As a reward they say I've "completed" the hardship program and am ineligible to reenter for the next twelve months. So I can start gathering late payments again because they are unwilling to work with me on an adjusted minimum payment
I assume they believe I'm lying when I say it between paying them and paying the electric bill. I know you have to be delinquent to settle your debt, but does anyone have experience on getting a reluctant creditor to accept a lower minimum payment to keep from becoming delinquent?
It's completely absurd. I have paid them on time every month since entering the program, working very hard to get my credit back on track. As a reward they say I've "completed" the hardship program and am ineligible to reenter for the next twelve months. So I can start gathering late payments again because they are unwilling to work with me on an adjusted minimum payment
I assume they believe I'm lying when I say it between paying them and paying the electric bill. I know you have to be delinquent to settle your debt, but does anyone have experience on getting a reluctant creditor to accept a lower minimum payment to keep from becoming delinquent?
Hardship programs are only a temporary stopgap....they are not m
Hardship programs are only a temporary stopgap....they are not meant to go on forever. If you cant afford the payment, you need to look at a debt consolidation program or talk to a local office of consumer credit counselling. You cannot expect your credit to rebound or improve if you are on hardship or paying less than in minimum payment required.
