OCC guidelines

Quote:

Originally Posted by King Jabba Labba Greetings rex535, Citi was not the easiest to settle out with for me. But in time they were slayed along with the others. So my questions are: 1. Are you settling with them? 2. If so, how much 3. And how far behind are you? Regards, King "Kash" Jabba Labba

I am/will be working on settling Citi/Home Depot. I was on a hardship program with them, since that program ended in August my payment has sky rocketed. I have called them twice about getting back on a program so I can work to get this paid off in full. I keep telling them I want to pay it off but they have to give me something reasonable to work with. (They will not put me back on it. They claim it's because of OCC rules) Of course once it went back to regular payments my interest went to 29% and payment to 398.00. So I had to quit paying them. I called them again yesterday to tell them that I can't make that kind of payment but I could make a smaller payment would you please just work with me. That's when the lady told me they are under strict OCC guidelines about not being able to lower the interest or even go back on a hardship program. She just kept saying she's sorry there's nothing they can do at this time. All she wanted was a good telephone number, she just kept asking me for one. Weird isn't it - more worried about a telephone number. I told her I would call her next week and left it at that. BTW I use Skype to call out so I can record them with a time stamp. If it does end up going to court I can at least tell the judge, if it ends up going that far, that I did at least attempt to work something out.

So here's the stats on this card:

*Citi/Home Depot balance as of 8/9/2010 $12,516.00
*Last "on time" hardship payment was made on 8/9/2010.
*Have not made a payment since 8/9/2010
*Next payment was due 9/8/2010 Payment jumped to 398.00
*New statement arrived today 9/17/2010 - Balance 12,800

So as you can see I am only about 10 days past due so I have a way to go until settlement. I am trying to do as much research as I can before hand. Also should I look at Home Depot as a separate entity from Citi or should I look at it as dealing with just Citi?

Please advice me on where to go from here. I think a hardship program at this point is useless. With all the fees that now have been added to the acct it would be in my best interest to settle. Should I keep calling once a week to say "Hey I didn't forget about you" just so I can show that I'm not running away? I eventually want to start (slowly) throwing the word "bankruptcy" into the conversation so they know that I am at least willing to consider that option.

Have a great day!
S.S.