FirstUSA hardship program

[Karentut]

I fell behind on all my credit card payments. I worked out a payment plan with MBNA, Citi, and Merrick under their hardship programs. The only one that I have not been able to cut a deal with is FUSA (I have three cards with them). Their standard reply is "send us the past due payments now".

 

I know they have a hardship program and I have heard you can get reduced monthly payments and a lower APR. But, I cannot find who to call. Obviously the people I have been talking to are not the right ones. Does anyone know who I should call at FUSA? And, can you give me an idea as to what I can expect as to terms?

 

Any help is appreciated. I had a bad cash flow problem that has now worked out. But, I cannot yet catch up on all the missed payments. I am about 3 1/2 months late, and I am concerned it will go to a collection agency very soon.

[learnmore]

The minute you call any dept there and input your acct # you are going to get forwarded to their collections.

 

I have their fax # for correspondence 888-643-9628. Perhaps you should write a nice letter explaining your situation with the desire to "get back on track" before collection etc. I think it is easier to keep a clear head when writing a letter than talking to their internal collection goons.

 

Good luck!

[Karentut]

Thanks for the imput. I have heard that there is a number there that actually has people who can get the deal done. I just have not been able to find it. Everyone I talk to at FUSA wants everything now, and I cannnot pay it all now.

 

Any other imput is appreciated.

[Karentut]

I went ahead and called and set up a payment plan. I had stopped paying in October. On the three accounts, I owe about $25,000 total. Monthly minimum payments before the default were just under $500. Total past due, including late fees was over $2000. Up to this point, their only offer was for me to send in the total amount past due and then start making regular payments. I will give you details just in case it will help someone else in the same situation.

 

I finally found the real "hardship" department. The number is 1-866-496-8226. No more fooling around with low level employees who could not help. I got a nice lady who worked with me.

 

I was told by someone on Creditnet that with FUSA, you just keep saying no. They will keep going down on their offer until you can afford it. That is what I did.

 

The big problem has been that they want the first payment within 9 days. Up until now, I have not had the money. Here is what I got: 6% APR for one year (it had been jacked to over 22%); payments of $278 per month total for the three cards (just a little over one half of what they had been); after the April payment, they will report it positively; the plan lasts one year; no more over limit fees or late fees; and, no more collection calls.

 

This is what I needed. I now have all six of my cards on hardship payment plans. I can now get back on my feet. It takes a lot of pressure off of me.

 

My FICO dropped from 704 when all this started reporting, to 542, and then up to 552, where it is stuck.

[breeze]

That is great! You defaulted so recently, you had some options a lot of people don't have. You scores will start going back up when these are reported positively. Kudos to FUSA. The fisr time I've EVER said that, LOL.