5/11/2009

I really appreciate your post because I had a similar experience.

After all, even they know that a customer who pays something is worth more than a customer that pays them nothing.

I would imagine that its all about how much you make the bank think you can't pay anything. They may just pull this cat out of the bag as a last resort. After all, even they know that a customer who pays something is worth more than a customer that pays them nothing.

These programs are available due to the crisis and they received funding to make it happen. But what makes me kinda iffy about it all is that its a process that the companies dont seem to want to resort to and if so it becomes a whole lot of red tape.

A lot of lenders are offering hardship program nowadays. I don't know how customer-friendly they are but they're there and we have to try to take advantage of them in order to save our credit.

Wow, seems like to me he would be better of consolidating or making a negotiation deal with them. Right about now, they will take anything form consumers who are willing to pay. I hope he can get something done soon because that is not looking good on his cr. I wish him all the luck.

A friend of mine recently fell into financial difficulties and couldnt make payments on his Hooters card. So as the story goes he gets calls literally every 10 minutes. He was telling me about it and I told him the next time they call just answer it and ask if theres a special program to help people in paying. After all many of these companies and banks received funding from the stimulus package. He came back to me with a lot of frustration and negativity. Apparently the rep was demanding he pay up for the two statements minimum payment ($40) which he didnt have enough then. When he inquired about a such program the rep said none existed and my friend went on to say that there has to be something to help. The rep said there is a program that will reduce the apr, waive any Late and OTL fees. So he said that everything seemed like it was going well. The rep said to initiate the program a secured payment of $18 had to be done. MY friend was onthe verge of giving payment information when the rep all of a sudden said that its not a guarantee that you will be eligible. I guess my friend's frustations began to rise again. The rep said just pay the $20 for last month minimum. So my friend got heated and said why couldnt you just tell me this in the first place. The rep was going in circles with his info denying that he demanded $40. OUt of frustration and anger my freind told me he just hung up. Well, he said he will call back and speak to someone who will bette handle the situation and not make stories.

Aint it funny how these banks "want to help" but some of them just make the process so difficult.