Money Health

How to Ask Creditors for Loan and Credit Card Forbearance

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Although most people know us as experts in debt relief, Freedom Debt Relief strives to do much more than that to help everyday Americans — especially in difficult times like these, where the coronavirus pandemic is creating so much income uncertainty.

To help you manage your credit card debt, mortgage, auto, and student loans, we’ve put together the information below on how you may reach your creditors and find out what they might be able to do to help. Right now, most creditors may be willing to work with you, so talk to them.*

While some lenders and creditors have created new programs to help their customers specifically during the COVID-19 outbreak, this information may also be used in times of financial hardship caused by any kind of emergency, whether it is job loss, wildfires, government shutdown, or an epidemic.

Terms to know: What is loan and credit card forbearance?

If you are missing payments to creditors or worried you will have to miss payments due to a financial hardship, you may consider asking your lender or creditor for a loan or credit card forbearance. All this means is that you are asking them for more time to make payments. Sometimes, they may let you skip interest payments and only pay on the principle of your debt. When it comes to loans, the change in terms will depend on the type of loan, the circumstances, and the lender’s policies.

Getting ready to talk to your lender

When you contact your creditors, be sure you have all the information they will need to find your loan or account and help you. Have this information ready before you call, email, or write. (Reminder, don’t send sensitive personal information over email.)

  • Account number or ID
  • Personal identifier (i.e., your social security number, date of birth)
  • Current loan amount or total owed
  • Monthly payment/minimum payment due
  • Days past due (if applicable)
  • Your hardship details: what, why, how long you think it might affect your ability to pay
  • Any other information you think will help your lender make a decision in your favor. Include relevant facts only. The more accurate and prepared you are, the better equipped they will be to help you.
  • A list of questions you want to ask. We all tend to get a little rushed or flustered on the phone.

Mortgage Forbearance Assistance

Lenders may be more likely to work with you if you reach out early.

Update, March 30, 2020: Remember, you can only get forbearance from the lender who currently owns your loan. If your loan has been sold, that is the institution you need to speak to. Here is a list of most of the major lenders in the U.S.

Ally Bank
Update, March 24, 2020: Ally has announced it will allow existing mortgage customers to defer payments without charges. Contact the bank for more information.
Ally Bank Home Loans Customer Care
866-401-4742
Visit webpage here.

Wells Fargo
Update, March 24, 2020: Wells Fargo has said it will suspend residential property foreclosure sales, evictions and involuntary auto repossessions, but please contact the bank for programs that apply to your specific situation.
800-678-7986
Visit webpage here.

Quicken Loans
800-251-9080
Visit webpage here.

JPMorgan Chase
800-848-9380
Visit webpage here.

Bank of America
Update, March 20, 2020: Bank of America has announced an official deferment plan. Effective March 19, the bank will pause foreclosure sales, evictions and repossessions. Please check with the bank for more details.
800-669-6650
Visit webpage here.

United Wholesale Mortgage
469-322-3899
Visit webpage here.

Loan Depot
888-983-3240
Visit webpage here.

U.S. Bank
800-365-7900
Visit webpage here.

Caliber Home Loans
800-401-6587
Visit webpage here.

Fairway Independent Mortgage
800-201-7544 (Customer service)
Visit webpage here.

Flagstar Bank
800-393-4887
Visit webpage here.

PennyMac
800-569-4287
Visit webpage here.

Guild Mortgage
800-365-4884
Visit webpage here.

Citi
866-272-4749
Visit webpage here.

Fifth Third
866-351-5353
Visit webpage here.

PNC
800-523-8654
Visit webpage here.

Sun Trust
800.443.1032
Visit webpage here.

Mr. Cooper
888-480-2432
Visit webpage here.

Regions
800-748-9498
Visit webpage here.

Freedom Mortgage
855-690-5900
Visit webpage here.

BB&T
800-827-3722
Visit webpage here.

USAA
855-430-8489
Visit webpage here.

Veterans United
855-259-6455
Visit webpage here.

Navy Federal CU
888-503-7102, Option 4
Visit webpage here.

Other assistance programs

Fannie Mae and Freddie Mac

Update, March 27, 2020: If you live in multi-family housing building or are a landlord of one, Freddie Mac and Fannie Mae announced that properties they finance may receive mortgage forbearance if landlords suspend evictions for nonpayment. In addition, for single family mortgage holders, the Federal Housing Finance Agency (FHFA) has directed Fannie Mae and Freddie Mac to suspend foreclosures and evictions for at least 60 days.
Visit webpage here.

HUD Foreclosure Avoidance Counseling Map
Provides ability to choose your state, then lists, for selected state, foreclosure prevention counseling services. These are provided free of charge by nonprofit housing counseling agencies working in partnership with the federal government. Most states have many agencies listed, all with a URL, phone number and email (or some combination thereof).

Assistance for those in Washington State
877-894-4663
Visit webpage here.

Assistance for those in New York State
800-342-3736
Visit webpage here.
Visit webpage here.

Hardest Hit Program
Interactive map
Designed for specific states where housing has been most affected by an economic downturn, this program provides mortgage assistance to those who are unemployed, underemployed and who owe more than their home is currently worth. The Hardest Hit Fund programs are designed and administered at the state level, and are customized specifically to address the housing issues that affect each state. Homeowners may check to see if their state is included.

Student Loan Forbearance Assistance

Remember there is a difference between forbearance and deferment of student loans. You should also be aware that a student loan interest waiver doesn’t mean you can stop making payments.

Update, March 20, 2020: President Trump announced that students with federal student loans will be able to hold payments for up to two months, and interest will be waived for 60 days, retroactive to March 13. Be sure to talk to your borrow for exact details.

Update, March 30, 2020: The Consumer Finance Protection Bureau is tracking changes to the law and procedures affecting student loan forbearance. At this time, there is now an automatic suspension of principal and interest payments on federally-held student loans through September 30, 2020.

AES/FedLoan Servicing
Forbearance Information
800-233-0447
Visit webpage here.

Granite State
Forbearance Information (public and private loans)
888-556-0022
Visit webpage here.

HESC
800-888-0741
Visit webpage here.

MOHELA
888-866-4352
Visit webpage here.

Navient
888-272-5543 for all FFELP and HEAL Student Loans
800-722-1300 for all U.S. Department of Education Student Loans
888-272-5543 for all Private Student Loans
855-284-4879 for all Military Service Members
Visit webpage here.

Nelnet
Forbearance information for public and private loans
888-486-4722
Visit webpage here.

OSLA
Forbearance Information
866-264-9762
Visit webpage here.

Cornerstone
Forbearance Information
800-663-1662
Visit webpage here.

Citizens Bank
800-708-6684
Visit webpage here.

Common Bond
800-975-7812
Visit webpage here.

Discover Student Loans
800-STUDENT
800-788-3368
Visit webpage here.

LendKey
888-966-9268
Visit webpage here.

SallieMae
800-472-5543
Visit webpage here.

Simple Tuition
800-555-8733
Visit webpage here.

Sofi
855-456-7634
Visit webpage here.

Wells Fargo
800-658-3567
Visit webpage here.

Auto Loan Extensions and Forbearance Assistance

Know that under auto loan forbearance, your loan payments may be postponed or reduced, but interest continues to accrue during the period of forbearance. If you don’t pay the interest during that period, the interest may be “capitalized,” which means it is added to your principal balance.

JP Morgan Chase
(have to sign in)
800-336-6675
Visit webpage here.

Ally Financial
Update, March 24, 2020: Ally may defer payment for existing auto customers for up to 120 days without incurring late fees or finance charges and has terms for new customers as well. Contact Ally for specific information.
888-925-2559
Visit webpage here.

Capital One Auto
800-689-1789
Visit webpage here.

Wells Fargo
800-289-8004
Visit webpage here.

Bank of America
Update, March 24, 2020: Bank of America has announced it will defer payments (payments added to the end of the loan) for auto loans upon request.
Customer service number for auto loans
800-215-6195
Visit webpage here.

US Bank
(have to sign in)
Customer service number for auto loans
877-329-0540
Visit webpage here.

Huntington Bancshares
Customer service number for auto loans
800-480-2265
Visit webpage here.

PNC
Customer service number for auto loans
866-522-2517
Visit webpage here.

USAA
Can ask questions to submit
800-531-8722
Visit webpage here.

5th 3rd Bank
Customer service for all customers, hardship assistance application: (https://secure.53.com/options/)
800-972-3030
Visit webpage here.

Ford Credit
800-727-7000
Visit webpage here.

Toyota Financial Services
800-874-8822
Visit webpage here.

Nissan Motor Acceptance Corporation
Nissan has a standard 90-day extension policy that carries no fees for qualifying customers.
800-456-6622
Visit webpage here.

Chrysler Capital
855-563-5635
Visit webpage here.

Kia Motor Finco
Customer service contact number only
866-331-5632
Visit webpage here.

VW Credit
Customer service contact number only
800-428-4034
Visit webpage here.

GM Financial
From URL, can click on link to payment extension fact sheet.
800-284-2271
Visit webpage here.

Subaru Motors Finance
Customer service number only. Subaru Motors Finance is provided through Chase Bank.
800-662-3325
Visit webpage here.

Roadloans by Santander Holdings USA
888-222-4227
Visit webpage here.

Credit Acceptance
Customer service/contact us number only
800-634-1506
Visit webpage here.

World Omni Financial-Southeast Toyota Finance
Customer service/contact us number only
888-688-1166
Visit webpage here.

Americredit Financial Services-GM Financial
800-284-2271
Visit GM Financial website here.

Westlake Financial Services
888-739-9192
Visit webpage here.

Exeter Finance
800-321-9637
Visit webpage here.

Regional Acceptance-BB&T
877-722-7299
Visit webpage here.

American Credit Acceptance
866-544-3430
Visit webpage here.

Flagship Credit Acceptance
Customer service number only
800-900-5150
Visit webpage here.

SunTrust (Light Stream)
Update, March 24, 2020: Truist (formerly SunTrust) has offered payment relief assistance for clients on consumer loans, personal credit cards, business credit cards and business loans. Please contact for full information.
866-519-3479
Visit webpage here.

Navy Federal Credit Union
888-842-6328
Visit webpage here.

Credit Card Forbearance Assistance

Here is a list of contact information for the major credit card companies and banks.

American Express
866-703-4169
Visit webpage here.

Bank of America
800-732-9194
Visit webpage here.

Barclay’s
855-207-3506
Visit webpage here.

Capital One
800-227-4825
Visit webpage here.

Chase
800-432-3117
Visit webpage here.

Citi
800-950-5114
Visit webpage here.

Discover
800-983-1412
Visit webpage here.

Goldman Sachs Apple Card
Note: Apple Card holders will be receiving an email about a new program allowing customers to skip their March payment. Check communications from the company for more information.

There is no Apple Card website, you may contact the company through Apple Wallet.
877-255-5923 (overall Apple support number)
Visit webpage here.

Synchrony (Branded cards such as Walmart, Old Navy, Amazon)
800-642-4720 or refer to number on back of card
Visit webpage here.

USAA
800-531-8722
Visit webpage here.

U.S. Bank
888-287-7817
Visit webpage here.

Wells Fargo
800-642-4720
Visit webpage here.

Take Charge of Your Financial Future

Be proactive about contacting your creditors; you could be much more successful if you don’t wait. Please come back to our blogs for more information on how you can keep working to take care of yourself, your family, and your financial future.

*Editor’s Note: Our initial post was based on information is based on our research as of time of publication. We are updating as new information becomes available.

Michael Micheletti serves as the Director of Corporate Communications at Freedom Financial Network where he is responsible for the strategic communications planning, knowledge dissemination and outreach to key consumer audiences. Before joining Freedom he held a variety of high profile communication and consumer education roles focusing on healthcare, tax and housing. He is a former reporter for FOX News, CNN and served as news director for Clear Channel Radio San Francisco.