I'm sure I saw someone (Terry?) post something about being able to negotiate a credit card debt down if you have a lump sum to pay it off. We have a $10,000 credit card debt that we can pay off in one lump sum but if I could negotiate a couple grand off it that would be great. Was it here that I saw that?
Question about paying a credit card off.
- Thread starter Prop_Perspectiv
- Start date
Isnt that for when you are having fianncial difficulties, and the bank determines that its better to get something instead of nothign,
that would be awesome, I owe almost $50k on mine
Hmmmm, that seems to be what google is saying. Don't think I could make the financial hardship thing fly....oh well, worth a try 
Sounds like I need to open a line of negotiations with my bank then!
You need to formally apply for financial hardship under the relevant consumer code. Most likely it will be reviewed and rejected in writing as the bank/credit provider needs to follow specific laws - re: financial hardship.
You can always stop paying and get credit defaulted (there's a thread on that
), then apply for financial h-ship at which point you can make your offer.
You need to formally apply for financial hardship under the relevant consumer code. Most likely it will be reviewed and rejected in writing as the bank/credit provider needs to follow specific laws - re: financial hardship.
You can always stop paying and get credit defaulted (there's a thread on that
I disagree.
A bank like anyone can make deals. No need to formally apply for hardship under the NCCP. It may help though
Just call your credit provider and ask what they can do for your situation. That's all I had to do and they helped me out with reduced payments whilst out of work.
