I’ve heard of student loan forgiveness programs. Are there any credit card forgiveness programs out there?
October 15, 2010 by admin
Filed under Student loans
My husband and I are literally drowning in debt. There’s no way we can file bankruptcy or do any of that consolidation stuff. He has a federal job and would pretty much lose his job immediately. We have found relief from his Student loans by filling out a form and getting his payments cut in half for a year. Are there any sort of programs in existence that will help out with credit card debt? We have Discover, Chase, Citi, and Bank of America accounts. We have already cut up the cards and do not plan on using them ever again. We tried to get a loan to consolidate the debt into one payment and our credit isn’t good enough to do that either. Any suggestions?
Yes, my husband has to maintain a very high security clearance. This is why he can’t let his credit go bad.
He has a federal job and would pretty much lose his job immediately.
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Are you sure about this? It’s my understanding that it’s illegal to fire someone over filing for BK. . . . If you husband specifically needs a Top Secret security clearance for his government job. . . filing for BK might be an issue. . . . otherwise, I don’t think it’s going to make much of a difference.
Sorry there is no forgiveness, or forebearance as with school loans. You could try consumer credit counseling services, non profit provided by the government it might reduce or eliminate you interest and will put you on a plan to payback. Sorry do not have the number but you should be able to google CCCS and find a local office. Unlike other places they do not charge for the service. Best of luck
in my opinion you can contact the company or the bank you two borrow the money and freeze the accounts in that way they will give you chance to pay small amount of loan every month for example: ( you pay £150. 00 per month they will reduced too £60. 00 per month. ) and your interest will not arise this is before or the last step of bankruptcy. try it is worth it . there is nothing who willing to help without their own interest. the best is to talk to one of financial adviser from were you got the loan.
good luck to you two.