Can you ask credit Card Card companys to defer a payment for one month?
Jan 30, 2009 in
Credit
I ♥ Richard KHC
Can you ask credit Card Card companys to defer a payment for one month? Or a Car payment?
Can you ask credit Card Card companys to defer a payment for one month? Or a Car payment?
My husband lost his job awhile back, he is having trouble finding a job and we have had several unexpected bills this month. Do credit cards do this and will it affect my credit? I have done very good keeping my payments up and I don’t want to mess up but I am just way over my head. Any suggestions will help. Thank You.
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8 comments
Chris O on January 31, 2009 at 5:44 am
Some do….some cards offer a ‘freebie’ month if you’re in good standing.
Without knowing what card or rating you have, I would say the best bet would be to pickup the phone and ask.
Cat on January 31, 2009 at 6:41 pm
Never hurts to ask. The worst that can happen is just that they’ll say no.
Matt on February 1, 2009 at 2:45 pm
If a protection plan is paid every month by a fee based on a certain percentage of the balance, deferring payments might be part of it.
mike on February 3, 2009 at 6:22 am
usually they offer some type of program or something that comes with your monthly statements and you pay like 10cents for every dollar on your balance .its actullay kinda like insurance i guess, but it never hurts to ask
RanaBanana on February 6, 2009 at 4:21 pm
I know some banks will let you do that for car payments, mine has a clause in the contract stating I can defer one months payment up to twice a year, without penalty, if I apply 72 hours before payment is due. Check your contract.
I don’t know about credit cards, but you’ll never know unless you ask them.
cutback on February 7, 2009 at 6:37 pm
You can definitely ask them. Don’t think you are alone. Many people are losing their jobs these days. The best thing you can do is communicate with your creditors if you can’t make a payment. If you do reach an agreement with them to skip a month make sure you get it in writing. If they agree to it then they can not report you as late to the credit reporting agencies. However, if they do report you as late or as having missed a payment and you do not have the agreement in writing then you will not be able to argue the report to the credit reporting agencies.
A.Mercer on February 10, 2009 at 1:24 pm
Call your credit card company when you are having problems. The #1 mistake that people make when they start falling behind is to avoid the credit card people. The credit card companies can actually help you sometimes. Call them, explain the situation.
LaUnika on February 13, 2009 at 5:14 am
just call them and find out. They usually give you an extra month. sometime they give you up to 4 months depending on the credit card that you have.