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negotiating with OCs for hardship


Jen&Alex
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We are still very new to this, but learning every day! :lol:

If an OC offers a hardship program with certain guidelines/payment plan (we have two in the negotiations now), do you have a room to negotiate it down? Who would be the best person/persons to talk? One customer service rep at BofAm said that his computer wouldn't let him change the monthly payment. It is still too high for us. What to do?

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I have read your other post and this one. This is what I suggest from my experience and others here.

1. Get it in your head that you have to reach an agreement on each of your cards. Do not allow yourself to consider anything else. If you do not the situation gets more complicated and more costly. STop the bleeding now.

2. If the first level person cannot help you go to the next. I once got a stepped program where I paid so much for so many months and then the payment increased etc. until it was paid.

3. Your goal here is to buy time to get yourselves straightened out. Many years ago me and DW were in similiar situation and we made our agreements and got part time jobs for a few hours each week. All the money we made went to the CC's. It was hard to put in 50 hrs per week in regular job and then another 20 or so in a vidio store etc but you can do it. There is light at the end of the tunnel, you just have to stay in the game long enough to get there.

We all feel for you, we have all been where you are now, Now get mad and do what you have to do and deal with the problem. Yes the short term situation is nasty, but if you do not deal with it positively the long term will be even worse.

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Thank you, Rick. It's very helpful, knowing that we are not alone is helpful. I just talked to Discover, and I practically begged to lower payment plan. I talked to the supervisor, but nothing happened. She said that she can not do anything for us more than computer and guidelines will allow her. I am looking for a second job, but meanwhile this is like a fool time job, talking OCs...

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