Posted on: 29th May, 2010 01:30 am
I contacted Bank of America in January stating I couldn't make the minimum payments they were requesting due to loss of income. I told them what I could afford to pay before the account became hundreds of dollars behind. I recently started a temporary loan modification program. I can now make monthly payments but they would rather charge off the debt because I can't pay them 269.00 per month. Is there another alternative to this?
Welcome alainewilliams,
If the creditor has already charged off the loan, then you will have to negotiate with them in regards to your account. You will have to pay off the debt to the collection agency rather than to the lender.
If the creditor has already charged off the loan, then you will have to negotiate with them in regards to your account. You will have to pay off the debt to the collection agency rather than to the lender.