Negotiating With Creditors - Failed Attempts

Negotiating with Creditors

Failed Attempts

Are your attempts to negotiate with your credit card issuer going nowhere fast? Are your phone calls being forwarded to third parties who have no affiliation with your creditor?

If you are one of the hundreds of individuals who are trying to negotiate in good faith with one of your credit card issuers, but the creditor refuses to discuss your case with you, you now have a new advocate. The Consumer Financial Protection Bureau (CFPB) has a web site, and a hotline (not yet published) through which you may file complaints about your credit card issuer.

You should be prepared to provide the following information:

  •         Credit Card Issuer's Name
  •         Your account number
  •         Your name
  •         Specific, detailed complaint (i.e. specific dates and times in which you attempted to contact your creditor and the specific actions taken by your creditor such as transferring you to a non-affiliated third party)
  •         Your desired outcome

    Note:CFPB will forward all complaints to the credit card issuer allowing them one more opportunity to resolve the problem.If the credit card issuer does not resolve the problem to the consumer's satisfaction, CFPB will work with the consumer to resolve the issue.


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