hardship agreement

Date: Sun, 01/30/2011 - 16:31

Submitted by anonymous
on Sun, 01/30/2011 - 16:31

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Total Replies: 3

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.

lrhall41

Submitted by SOAPLADY on Sun, 01/30/2011 - 17:32

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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.

lrhall41

Submitted by on Sun, 01/30/2011 - 17:58

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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.

lrhall41

Submitted by SOAPLADY on Sun, 01/30/2011 - 18:36

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