hardship agreement
Date: Sun, 01/30/2011 - 16:31
I have a private loan that has defaulted with citibank. A hold was placed on my account and I qualified for a hardship agreement because I work a part time job and I am a single parent. I have reoccuring payments now that comes out every month. Is this a good plan?
Probably not but it will delay them from filing suit against you
Probably not but it will delay them from filing suit against you. You miss a payment or stop paying, they will swoop in for the kill.
I believe that is better than being sent to a collection agency.
I believe that is better than being sent to a collection agency. Can some one give me positive feedback because I believe this is a start.
Unfortuanately you defaulted on a private loan. How much do you
Unfortuanately you defaulted on a private loan. How much do you owe? Are you even covering interest?
Once in default, it will be only a matter of time before they send you to a collection agency. Lenders do not retain even paying accounts...they all get shipped out to collections. This is the reality of private loans.
The only positive thing I can say is that they are not suing you now.