Capital One hardship Program?

[leahnc]

Hello - I am 3 months behind on my Capital One credit card due to job loss.  I have asked a customer service rep at least 5 different times to be put on a hardship plan, they are saying Im not eligible?   They offer me a plan to "catch up",  but I do not have the avaialble funds to do what they require to get caught up which is 200+ monthly payments. My min due is $407.00

Anyway, Im not sure why they are so stubborn?  I have several other credit cards that we got behind on due to job loss & now have a decreased income.  I got all but Capital One to put me on a repayment / hardship program.  They lowered my monthly amt due, reduced my interest rate to 0-1% and no more late fees. I pay a small afforadable payment each month while lowering my debt.

Any advice on Capital One?  They are not very easy to work with? Thanks

[Dalmus]

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@leahnc wrote:

Hello - I am 3 months behind on my Capital One credit card due to job loss.  I have asked a customer service rep at least 5 different times to be put on a hardship plan, they are saying Im not eligible?   They offer me a plan to "catch up",  but I do not have the avaialble funds to do what they require to get caught up which is 200+ monthly payments. My min due is $407.00

Anyway, Im not sure why they are so stubborn?  I have several other credit cards that we got behind on due to job loss & now have a decreased income.  I got 3 all but Capital One to put me on a repayment / hardship program.  They lowered my monthly amt due, reduced my interest rate to 0-1% and no more late fees. I pay a small afforadable payment each month while lowering my debt.

Any advice on Capital One?  They are not very easy to work with? Thanks

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 Sorry about your situation.   It sucks, but it sounds like you are doing the right thing by working with your creditors right away!  Too many people just ignore it until the creditors come knocking...

 Some clarifying questions...  Have you missed three complete payments, or have you made payments late, or have you been making partial payments?  Have they actually gone through the process of going through your financials with you, or do they just flat out say no?  Have you initiated the phone calls to the CSR, or are you talking to whatever collection department is calling YOU?

 If you're talking to an actual Cap1 CSR, they should be able to tell you what needs to happen for you to qualify for the hardship program.  I would think as soon as you completely missed one payment, they'd be wanting to work with you.

 Have you tried contacting the EO?  If you have truely missed 3 complete payments, they should be ecstatic that you want to give them something every month.

[Cherekas]

Sorry about your situation as well. When I was in the same situation in 2014 they offered me the catch up plan and that's how I was able to maintain my payments (they offered an amount I could pay monthly) until I could get back on track. Just an FYI, I'll explain what later happended to me. Once I pulled my report a few months later (I wasnt monitoring my credit monthly like I am now), they were reporting my payments late even though I was paying them. So word of caution, make sure they are not reporting your payments late while you are on this plan. I'm trying to have them reverse the information now, hopefully I can have this rectified soon. Good luck to you and stay on top of it!