OK
I got accepted into the financial hardship plan with bank
of american. they offered me a 0 percent payment on my
balance after missing two payments (they thought id quit
completely maybe?)
they reassure me this offer is very rare, and if I dont miss
one payment I can keep this until finished.
but if i miss one ill go to collections.
Is it true this offer is rare or are they just bs’ing me?
and if it goes to collections, arent they just
gonna offer me 0 percent repayment on the balance anyway/?
thanks and peace !!
your underpaid buddy ;)
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It’s legit, and be very careful and pay on time, and make sure you stay with the payment plan. I would also check and see if you payment amount can be lowered, this will help you pay off this balance easily. No they are not bs’ing you. If it goes to collection, they don’t have to offer you 0 % repayment, and it will worsen your credit. You want to solve your problems, not make them worse. So, check and see if you can get a lower payment along with that 0% percent repayment plan, and take care of your business. With 0%, and a lower payment, you will be able to pay this debt off in a short time. You can do it, Good luck !!!!
Yes, some credit card companies do offer that. Be vigilant about your payments.
Apparently you convinced them that you have a hardship. This is a legit offer and very rarely offered, by any credit card company. Make sure you make every payment on time. If you fail to make the minimum payment by the due date, you will lose this repayment plan with 0% interest.
Sending you to collections would not eliminate interest, late fees, nor legal fees. It would also completely trash your credit score.
Do not charge anything else to that card – trust me on that.
Statistics show that only 95% of the people are able to pay during the introductory 0% period.
Note: The intro period is always one month shorter than what they initially quote.
Be ready if you are late one payment – or miss a payment
You will be hit up with serious charges.
Good luck in paying in full by the intro 0% period.
Read all the fine print you can.
Nothing in this world is free – they are counting on your to mess up.
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