Anyone had luck with Chase Hardship?

[tivaclare]

Briefly, my situation. Probably about 1.5-2 years ago we fell behind with our Chase card. I called and they put us on a hardship program that was meant to be for 5 years, had a lowered interest rate (12% I think) and a monthly payment of $88.

 

Things were going great until about January of this year. We fell behind and were dropped from the program. We paid a huge payment (over $200) to get back up to date of a brief while, only to fall behind again. This was due to a severe drop in income for a few months. We had to borrow from family just to pay rent, so credit cards took a bit of a back seat.

 

Ok, so I called them back in July and explained that we were trying, but simply could not pay the payment to become up to date. It's in the range of $300. We can't do this. We can't even do $100 right now. Things are bad. Well, the lady said that her payments were going to be "too high" for me and advised I call back in early August to see what they could offer. She was very nice.

 

I called back last night and got someone in India, or wherever, and he took me through a big application asking my expenses, etc (the other lady did not do this, she just saw I had been on the program previously) and after all was said and done offered me a monthly payment of $97. I said I just could not make that work and he said it would give me a "one time offer" of $88.

 

That is still too high and I said I would have to think about it. He cautioned me that I might not be able to get such a good offer again.

 

Has anyone had any luck with these guys?? Our balance is pretty high (around $3k), but money going to be pretty tight for the next 6 months or so and we just cannot catch up. DH and I both should have decent full time jobs by next year and hope to pay it all off in 2011, but in the mean time I don't know what to do.

 

My husband is going to try to get a government job and I am trying to clean up the reports so he won't lose his clearance. Ugh

[wdsmith34]

balance of 3k is nothing, get a pt job and get rid of it.....hardship on 3k I only wish

[tivaclare]

Does anyone have anything useful to say?

 

I was hoping to hear from people who may have been in similar situations, not recieve judgements on my work history.

[TUalum0982]

Does anyone have anything useful to say?

 

I was hoping to hear from people who may have been in similar situations, not recieve judgements on my work history.

 

 

I am on the phone with them as we speak. I owe 9K to them, and they are setting me up on a 5yr plan at 2% interest, 165 a month. Much better then the 186 month at 14%. So far, they have been nothing but excellent to work with.

[TUalum0982]

Just got off the phone with Chase. I owe 9K and they set me up on a program that is 2% for 5yrs, and 165 a month. Not much different then the 186 minimum monthly payment, but its better then the 13.49% interest rate. They were very helpful, polite, and overall I feel much better now.

[stevem11]

Once you are behind 60 days or so, they will offer you a hardship at a low interest rate for 60 months (do the math with an online calculator for the payment). Once you are 150 days late, they will offer you 30 to 40% on the dollar (maybe less) if you can pay one lump sum.

[prindia]

I just did mine on 1500 last week I was given a 3% rate for 60 months.