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Calling up creditors, and asking for hardship arrangements?


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A suggestion was recently made.. So, I enrolled myself in a "six month" "back to work" program somewhere . It has been making me very anxious that, at least for the first 3 months.. Things are done around the place, and they don't let you actually go out and work and get a job until those last 2 or 3, I think 2 . Seems a little bit counterintuitive but I think I understand... they want to instill "routine."


This is a voluntary place and I can "walk out" at any time, but if I did that then why did I come in the first place. Working on me a little bit. (A lot..)


So, someone made a suggestion. While I technically had enough to cover maybe "two months" of minimum payments, I do technically have like 8-10 cards across 5+ creditors including recently got CLI with some.. How does that go? To call and ask for hardship arrangements? Do they do such thing?


Because otherwise I'm gonna have late payments. I basically don't see how I won't have them anyways, with no money coming in....

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Each creditor has their own version of a hardship program.  So you would have to call each creditor and learn about their individual hardship program availability.   Some may start you on the program right away, and with some creditors you will need to be a certain amount past due in order to start the programs.


Some programs will close your cards, some programs will keep cards open, but lower credit limits, some will keep cards open but not allow you to charge again until you are completely paid off.  Some programs will just lower interest rates, some will just lower payment amounts, some will do both.  Many are for a short period of time, and need to be renewed.  See, they are all different.  


However, with most hardship programs, you will need to show the "ability and willingness to pay".   You may be willing, but based on your comment above of "with no money coming in...." it appears there may not be an ability to pay.  


Good Luck

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