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Govt Shutdown Assist from Lenders/Banks

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CBartowski
Frequent Contributor

Govt Shutdown Assist from Lenders/Banks

Hey Folks,

 

For the others out there hit by the shutdown I wanted to share my experiences so far when asking for assistance from creditors/banks:

 

-AMEX: a simple online chat inquiring about options led them to quickly and with no additional questions to put me on the "affected by a disaster" list when gives me a 2 billing cycle window where balances will not be delinquent. Hoping that's long enough, for reasons other than just my CC.

-Chase: a call requesting the same, granted deferred payments, might have to provide the impact letter

-PenFed/NavyFed/USAA: all have seperate programs, some better than others. I have not asked for any deferment on mortgage as that is not something I'd like to get behind on, at least not yet.

 

Anyone else have experiences?

CARDS:
AMEX CS Plat | NSL -- Chase Freedom Flex | $19,000
AMEX Gold | NSL -- Citi Double Cash | $10,000
AMEX HH NAF | $1,000 -- Uber Visa | $5,000
CSR | $29,000 -- USAA Plat | $8,000
USAA AMEX | $23,000 -- MB Boundless | $11,900 -- CFU | $3,600 -- PenFed Pathfinder | $10,000 -- MS Plat | NSL

BANKS:
NFCU | USAA | PenFed | Schwab Bank | First Bank | Chase
Message 1 of 8
7 REPLIES 7
Anonymous
Not applicable

Re: Govt Shutdown Assist from Lenders/Banks

Do any of these programs waive CC interest during the period?  Or do they simply agree not to charge you fees and report you as late?

 

Just curious.  The shutdown has no impact on me.

Message 2 of 8
joltdude
Senior Contributor

Re: Govt Shutdown Assist from Lenders/Banks

Some do both....

Even Paypal Credit was letting you take a 0 fee 0% apr cash advance until its paid off, albeit max of 500$

Know Military and Govt CUs have a lot of experience with this situation... 

Some wont report you, some wont charge you a late fee, some offer you a 0% loan... some due on reinstatement some just as soon as its paid off....

 

 

Message 3 of 8
Anonymous
Not applicable

Re: Govt Shutdown Assist from Lenders/Banks

I am not affected by this mess but I hope these banks help out. I hope they are not charging this folks interest.

Message 4 of 8
Anonymous
Not applicable

Re: Govt Shutdown Assist from Lenders/Banks

I saw this over at Doctor of Credit.  Looks like a nice summary of options:

 

https://www.doctorofcredit.com/furloughed-federal-government-workers-resource-page-financial-food-ot...

 

It includes help beyond just CUs and banks willing to waive fees.

Message 5 of 8
Anonymous
Not applicable

Re: Govt Shutdown Assist from Lenders/Banks


@Anonymous wrote:

I saw this over at Doctor of Credit.  Looks like a nice summary of options:

 

https://www.doctorofcredit.com/furloughed-federal-government-workers-resource-page-financial-food-other-help/

 

It includes help beyond just CUs and banks willing to waive fees.


Thanks, shared it with my old Army buddy currently working without pay.

Message 6 of 8
Anonymous
Not applicable

Re: Govt Shutdown Assist from Lenders/Banks

I wish they had a program for government contractors/subcontractors.   We have 4 contract /subcontract projects. Some are essential others not. Even with the one essential part of the government agency is closed and another part is open and this is making life complicated as we work with both on our project.  We are only planning on get paid for essential work. 

Message 7 of 8
Anonymous
Not applicable

Re: Govt Shutdown Assist from Lenders/Banks

Just wondering, if a furloughed government worker has the worst credit score, do they still qualify for interest free or low interest loans if they are due back pay as a collateralized loan?  

Message 8 of 8
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