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ANYONE GET A WEIRD LETTER FROM Home Depot?


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Did anyone else get this??

Today a letter comes about a program to reduce your interest rate and your debt.

Lists lots of options, call by April 30th,

Reduce monthly payments for 12 mnonths

Reduction of account balance

a statement credit of up to $550.

HUH? Says you must be current...bla bla bla, and

I am sitting here thinking...we owe them less that $400, so

considering making the call.

Not sure what the plan is, but (thinking about this) if we gave this card up it wouldn't be a hardship. We only got it to get ourselves going again.

Since we've made all of our payments on time, and not charged anything in months....................I really find this interesting.

Anyone else receive one of these? And if so, did you call them?

z

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Hey Z I got mine today as well! I called in and the lady explained all the options to me, it took forever so I told her I would have to think about it and call her back.

The rep said they were doing this because in the recent past, they had many good customers calling into a "hardship" department and looking to make payment arrangements before they defaulted. (Looks like we've been doing some good on this board huh?) Anyhow, she said they didn't really have any special type of program like that so their trying to respond to the "economic crisis" as well. :roll::lol:

She told me there were many options, some that would close my account, and I would not be able to re-open it and then there were some that would allow it to stay open. The one I actually liked, would allow me to keep my account open and would also put $$$ in my pocket. She said if you pay more than your minimum payment for 4 months in a row, then they would credit your account for 25% of the total amount of overpayment. Her example was if I paid $25 over my mininum payment for 4 months in a row, then I would receive a $25 credit, as that would be 25% of the total $100 overpayment. There were also interest reducing payments if you set up your account on auto-pay, etc.

Lots of good options actually. Did you call in Z?

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It appears Kim posted something similar from Sears last week and AmEx is also doing something similar. The point is to get balances paid down as fast as possible, reduce credit lines, and prevent future losses BEFORE they occur. Actually, a pretty smart move on the part of these creditors as they race to preserve themselves.

Take advantage if you're carrying a balance. Where else in this economy do you get a 25% return on your money in four months?!!

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Yeah, we called them, and decided to not take advantage.

Or if we do at a later date it wil be the 4 month deal, but they told us 20%.

I don't want the card closed, and golly gee, if I only could make the minimum, it would be 12 dollars a month. Think we can handle that one :)

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Yeah, we called them, and decided to not take advantage.

Or if we do at a later date it wil be the 4 month deal, but they told us 20%.

I don't want the card closed, and golly gee, if I only could make the minimum, it would be 12 dollars a month. Think we can handle that one :)

Really? I def. remember her saying 25% because of the example she gave me of a $25 credit for an overpayment of $100. That's weird and makes me doubt how this program works. I wish they had this info online because I really don't want to have to call back in and listen to it all again. Also, did your rep tell you that you would have to arrange for 4 post-dated checks on the phone while completing your arrangement?

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