Questions & Answers
How can I negotiate with the bank regarding credit card if I lost my job?
Hi,
Please advise the below issue with the bank.
I lost my job last 2018, and due to this, I'm not able to pay my monthly dues to the bank. I visited the bank to discuss that I have insurance for my credit card.
But the bank denied that insurance and said to me that I should apply for that insurance after my company finishes my work contract. It takes me 3 months before I visit the bank to apply for the insurance.
The bank sued me in a civil case. I paid the amount to the police. But the bank still forces me to pay the pending amount. I manage to pay per month since Sept 2019 and until Dec 2022.
Again I lost my work last Dec 2022. I'm not able to pay now the monthly dues that the bank required.
Kindly help and advise, please.
Unfortunately, you will have to agree on an installment plan to pay once you have a job.
You might have a travel ban against you by virtue of the civil case. Kindly verify.
You can contact the bank and inform them of your job loss in order to obtain a 3-month grace period until a new job opportunity is secured.
