Who is Harrison Funding? Can They Be Trusted?
Harrison Funding wants you to believe they can offer you a credit card hardship plan. Harrison Funding has begun flooding the market with debt consolidation and credit card relief offers. The problem is that the terms and conditions are at the very least confusing, and possibly even suspect.
The interest rates are so low that you would have to have near-perfect credit to be approved for one of their offers. Best 2021 Reviews, the personal finance review site, has been following Harrison Funding, Johnson Funding, Taft Financial, Georgetown Funding, Memphis Associates, Silvertail Associates, Safe Path Advisors, Coral Funding, Tate Advisors, Patriot Funding, Malloy Lending, Plymouth Associates, Nickel Advisors, Coral Funding, Neon Funding, Polk Partners, Ladder Advisors (also known as Carina Advisors, Corey Advisors, Pennon Partners, Jayhawk Advisors, Clay Advisors, Colony Associates, and Pine Advisors, etc.).
If you are no longer working due to the coronavirus crisis or any other problem, then you can resort to a credit card hardship plan to pay back your bills more easily.
Why Credit Card Hardship Plans Matter
There may be several adverse circumstances in life that can make it much harder for you to pay up your credit card bills on time. These cases include financial difficulties following a divorce, natural disaster, medical bills and disability, among others. A credit card hardship plan may be the lifeline that you need to keep your creditworthiness somewhat intact and find a way out of your problems.
Many credit card customers do not know that such programs exist. Yet, the credit card hardship plan is a service feature of almost all major credit card companies.
As you would know all too well, the financial meltdown from the coronavirus epidemic has wrought havoc on businesses, both large and small. Many have lost their jobs and entrepreneurs now find themselves with little work and no business. As a consequence, a staggering 38 million Americans are now queuing for unemployment benefits, a truly unprecedented phenomenon, considering that just a few months before the crisis, the economy was enjoying record lows in unemployment rates. In fact, many industrial areas were facing a labor shortage. Now the reverse is true. State-mandated shutdowns have further exacerbated an already precarious scenario.
Despite all the doom and gloom, there is still a ray of hope for consumers to find the best way to consolidate debt as credit card companies are showing extraordinary leniency to provide relief to their customers. Be warned though, while they are extending payment deadlines and providing other forms of relief, you will still probably have to pay almost all of what you currently owe. That being said, you can still benefit from credit card hardship plans if you are facing a coronavirus crisis cash crunch.
If you have trouble paying back your credit bills, then you must reach out to your credit card company as soon as possible to take advantage of the credit card hardship plan that they are putting on the table for customers. The sooner you leverage these schemes, the better prepared you will be for the upcoming scenario. And since it appears that the situation may very likely go from bad to worse, it makes sense to avail of these credit card hardship plans while you still can. By acting early, you can make yourself somewhat impervious to possibly harder circumstances.
How Does a Credit Card Hardship Plan Work?
If your finances are in dire straits, then a credit card hardship plan may be what you need to get out of your predicament. One of the biggest benefits is that you can avail concessions that will save you from defaulting on payments.
If you are late on your payments, then you will have to pay penalties and late payment fees. You will also be subjected to steep interest rates that credit cards normally impose on customers. The trouble is that you are already struggling to make your payments. When burdened and encumbered by these extra financial charges, your situation is only going to get worse and paying back will become even more onerous.
This is where credit card hardship plans can help you out.
You should know that the exact terms and conditions of credit card hardship plans can vary between credit card issuers. So to find out more about the plan that is relevant to you, you must reach out to your issuer. You may be able to find details on their website. You must be aware of all details of the plan so that you don’t end up making a blunder that will prove to be harmful.
Also, you will have to reach out proactively if you want to avoid the defaulter tag. Your issuer is most likely oblivious to your financial circumstances and will not come after you to fix it. It is your duty to engage with your issuer and opt in for the credit card hardship plan. The benefits of these plans are available only to those who sign up for the program. So do not hesitate to get in touch with your issuer right away if you feel compelled by your fiscal difficulties.
When you contact your credit card issuer, you must clarify all terms and conditions to make sure that there is no misconception on your part that prove problematic later on. You should also get down all the terms and conditions in writing.
Credit Card Relief Hardship Plan Benefits
You will find that credit card relief plans offer relief in several forms. Consumers can benefit from the lowering of interest rates and even complete elimination of interest for a specific time frame. Compound interest can dramatically compound your financial woes, so having little or no interest in you can be very helpful.
Another major benefit is that the due date may be extended so that you have more time for paying back. While this may be a source of relief for you, remember that this is the time during which you should work to pay back by the due date. In other words, rather than relaxing and whiling your time away, you should strive to get your finances in order, otherwise, the respite may go to waste or even backfire.
You may have to pay a lower amount by the deadline and the issuer may waive late fees. You can save hundreds and even thousands of dollars due to the benefits extended by credit card relief plans.
How to Qualify for a Credit Card Relief Plan
Basically, it depends on your issuer. You will have to inform them about your financial circumstances and if your issuer thinks that you have a strong case, then you might qualify. Make sure that you are honest and telling all facts as truthfully as possible.
If you are really interested in qualifying for a credit card relief plan, but fear that the issuer might reject your application, then you can think about availing the services of a credit counseling firm to argue on your behalf.
These firms have the necessary experience and expertise in such negotiations and can hence brighten up your prospects.