letters to creditors

I don't know about doing that, but I just called my creditors. Are these cc debts, pay day loans?

I called my cc companies and asked to be put on the hardship program so I could pay them off. One of them dropped the interest completely and I agreed to a set payment plan to pay them off. Some will do this, some will drop the interest, and some won't. I kept calling until I got one that worked with me. They don't have to do any of the above, but there are some that will.

Also, it makes a difference if you are working with the original creditor or a collection agency.

Good Luck to you!!..Karen :D

I never thought about a hardship program, that's a great idea.

I'm not sure if all credotors have a hardship program, or if it is called that, but it doesn't hurt to ask them.

I do know that if you get them to do that, if you break your arrangements, they won't let you on it again, so be sure you can handle the payments!!..KAren

That is what I did this week. Called all my cards to get on a hardship program. Only 1 card offered it to me. Even though all my cc's are nearly maxed out-I had never been late or over the limit. Wouldn't you know, most of them changed their tune once they realized I was having trouble keeping up with the high payments? Chase actually told me nobody will work with me or offer me anything until I am late. Then the rep tells me that and once I am late they will hit me with a late fee. "In freakin credible"! :lol:

what is the right format for writting a letter explaining reason for late payment on credit cards