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Chase Bank Won’t Let Me Into Their Internal Hardship Program. – Jim

“Dear Steve,

I was initially turned down for the CHASE CC in house hardship program on my $ 11,000.00 amount owed. My situation with the card is: Making monthly payments that are close but do not meet the minimum amount due. This results in varying 30 day lates upt to 60 day lates. However the payments are still made monthly. I lost my job for 3 months earlier this year and have since found full time employment. All of this was explained to CHASE.

What options would you suggest to get CHASE to negotiate on the interest rate? I am interested in paying off the debt and do not want to settle. However, I need to try and get a reasonable monthly payment with corresponding lower interest rate. Initially CHASE talked about 2% for 60 mo. After taking my information, CHASE then said that I would not qualify and that I should call the associated Credit Counseling 800 number. After speaking with them, the Credit Counseling company suggested that I try Chase again as I want to restructure the CHASE debt only. Any suggestions as to how I can go about getting CHASE to enroll me into a program? Thanks!

Jim”

The Answer

Dear Jim,

I’d be interested in why Chase said you would not be eligible. Interesting situation.

Get Out of Debt Free Hotline

So here is the low down on the situation. Chase does offer a pretty good internal hardship program to help consumers directly and credit counseling program can extend to you special reduced payment terms that Chase allows them to offer. But the credit counselors generally can’t go as low as the internal hardship program.

If Chase wants to let you into the internal program, that’s completely up to them.

I’d suggest that the credit counseling approach is the second best option and that you should click here for credit counseling information and talk to a second counselor. I’ll ask someone from Cambridge Credit Counseling to jump in here to give a second opinion as well.

Be sure to post your additional questions and updates in the comments below.

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About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
  • Cviale

    Type your comment here.hi jim, my name is Christopher viale and i am with cambridge credit counseling. I have read your question and if you have time please give my company a call on monday so one of my counselors can provide you with guidance on the siyuation. 800 897 2200 or 1 800 cambridge. have a good day  christopher

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