In 2008, my husband lost his job, and while he did receive unemployment, at the same time I (a State of Hawaii Employee) was furloughed, causing a decrease in our income. So I contacted my creditors, explained my situation and was put on a program to reduce my monthly for only a year. (the program started in 2010, I struggled paying my monthly credit card fees in 2009). Now the program has ended and the credit card companies will not help with any more programs, they say am not far enough pass due and that I should contact Credit Counseling to reduce my payments. I have a second on my house with Bank of America, who also allowed me to be on a program to reduce my monthly for a year, which ended this June. So now all my credit cards and second mortage have return to the original monthly fee and my union agreed to a five percent cut in pay, which started on July 20, 2011. I am unable to pay on all this debt monthly.
Do I have to be behinde in my payments 3o, to 60 days before my creditor offere me a reduced payment plan, or even forebearance. Can I write to a Department at the Bank to negotiate a payment plan. Why won’t they work with me, what in the world is so wrong with trying to prevent a problem before it starts.
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