@Anonymous wrote:
Credit card forbearance programs:
www.creditcards.com/credit-card-news/credit-card-forbearance-programs.php
I am in a difficult financial situation and enrolling onto a 6-12 month plan where I can stop worrying about payments would tremendously help me through this. I have tried to look for threads on this but it seems that I can find forbearance plans on student loans and mortage loans. Has anyone had any success entering this type of program with their credit card creditors? And how did you qualify? Was there a particular phone number or dept to call? Any advice or suggestions would be appreciated, Thanks.
I'm really sorry to hear that you're having financial difficulties right now. I hope things turn around for you soon.
While I don't have any experience with credit card forbearance, I can tell you that I think the lenders quoted in the article are probably being a little 'generous' with their description of the hardship programs that they put in place, back in '09, to help their customers who had or were going to fall behind. While I don't have any knowledge from which to draw, my gut feeling is that true forbearance for a credit card is truly rare, IF it even really exists at all.
BUT, there are, most definitely, hardship programs. To see what your lender can do, specifically, I'd suggest that you contact them via their corporate HQ. I suggest this, because you're likely to get the runaround from the first line customer service, and not given any hardship options until it's the collection department calling. But, sometimes, if you can someone high enough up the food chain to advocate on your behalf, you might just get what it is that you're asking for.
Perhaps someone else has some success stories with credit card forbearance to report. At any rate, much luck to you!
