Archive for the ‘negotiate credit card debt’ Category

We have about 0K in credit card debt. I’m trying to get it under control, however, I’m back in the same big hole every month due to interest. I have looked into credit counseling services, everyone wants to charge you some large fee for negotiating with credit card companies. I want to try to do this myself. Does anyone have any suggestions, points or tips for doing this?

What are my chances of settling at a lower amount? With over 25% in interest the amount is over 00. What would be a good target for negotiation? Also the lawfirm involved is about 4 hours away from the court location. If They don’t show up, can this be dismissed?

I recently had to defer my salary at my job for an extended period and cannot afford to pay my credit card debt. What should I do? A friend advised me to not make the next payments and negotiate with credit card companies on the debt. Is this wise? Would you advise I do something else? Thank you.

I have about ,000 in debt to 2 credit cards,both are maxed out but I came into enough money to take care of it,but I wonder if it would pay me to try and negotiate this debt down?

I’m just curious because I have a ton of reward points I’ve never cashed and would rather pay off my debt. I was wondering if I can cash those in for a percentage of my debt. It may be a stupid question, but it’s worth a shot! Thanks!

I am trying to pay off some of my debt in full, however I have late fees, over the limit fees. I’ve been told that if I call and negoitiate these balances that will hurt my credit. Does it hurt my credit if I call and negoitiate them to take off some of the late fees, etc if I pay the card in full?

My mother’s friend owes ,000 on a credit card and the bank has been charging her 30 percent interest. Eventually she just refused to pay.

After months of threats the bank relented and offered her a five-year plan to pay off the debt at six percent interest.

She says that will simply be paying back the bank its 30 percent (in the total accrued so far) over a longer time. Plus, she can hardly afford the 5 monthly payments.

Her debt is more than 10 years old and she’s payed back so far more than twice what she borrowed on the card.

She offered the bank 10 percent to call the account settled but they scoffed. She wonders, given that they did finally quit threatening her and made her an offer, are they likely to soften further if she holds her ground and prepares for bankruptcy?

Would the bank be likely to accept a counter offer from her of their five-year-plan on a lesser total amount?

How much would the bank get if they wrote off the account and sold the debt?

I have a little over ,000 in credit card debt between my husband and myself on six different cards. Of those cards all of them are above 20% interest rates. The highest balance is 00. 8 ½ years ago I had to file for bankruptcy before I married my husband because of a car I was duped (very long story and this was the only thing I filed) into signing for, thus I cannot file bankruptcy. We also have 00 in hospital bills we have accumulated in the last year we are paying on sporadically when I can make payments. They were 00. I am about to have a baby in July, which means I will be on maternity leave for two months with a reduced income. We are having problems making payments on our bills now because we are overwhelmed. Prior to, financially we were doing ok, but we had some unexpected expenses come up and we previously had gotten lots of overtime at both our jobs which has been cut due to the economy. I just obtained 00 from a family member I do not have to pay back and I am having a hard time deciding where to put this money towards. A few of the doctor bills have threatened to send us to collections even though I am making payments when I can. I figure credit cards are best to put the money towards because of fees, credit report problems and interest. I have only been about 10 days late on one of the 6 cards and maybe 16 days late on another one, thus none of them show up late on my credit report. I manage to make payments, but barely. Late fees have been racking up though because I may pay a week late here and there on those two. Here are my primary questions after hearing my story…

1) Should I try to negotiate lowering my debt on the credit cards and doctor bills so I can get them paid off although I am not really showing up late on my credit report? Will they work with me if I am going to pay off the balance? I figure it is pointless to negotiate interest rates if my point is to pay it off…
2) Should I pay off the highest balance of 00, which also happens to have the highest interest rate and then put the rest towards doctor bills or the next higher interest rate card, which the balance is more than what will be left over? Or, should I put the left over money towards paying off the lower credit card amounts and the 00?
3) I have read that if I negotiate lowering my pay off amount with credit card companies then it will affect my credit and this is what I am worried about primarily. Has anyone had any experience with this?
Thank you ahead of time!!

I have a little over ,000 in credit card debt between my husband and myself on six different cards. Of those cards all of them are above 20% interest rates. The highest balance is 00. 8 ½ years ago I had to file for bankruptcy before I married my husband because of a car I was duped (very long story and this was the only thing I filed) into signing for, thus I cannot file bankruptcy. We also have 00 in hospital bills we have accumulated in the last year we are paying on sporadically when I can make payments. They were 00. I am about to have a baby in July, which means I will be on maternity leave for two months with a reduced income. We are having problems making payments on our bills now because we are overwhelmed. Prior to, financially we were doing ok, but we had some unexpected expenses come up and we previously had gotten lots of overtime at both our jobs which has been cut due to the economy. I just obtained 00 from a family member I do not have to pay back and I am having a hard time deciding where to put this money towards. A few of the doctor bills have threatened to send us to collections even though I am making payments when I can. I figure credit cards are best to put the money towards because of fees, credit report problems and interest. I have only been about 10 days late on one of the 6 cards and maybe 16 days late on another one, thus none of them show up late on my credit report. I manage to make payments, but barely. Late fees have been racking up though because I may pay a week late here and there on those two. Here are my primary questions after hearing my story…

1) Should I try to negotiate lowering my debt on the credit cards and doctor bills so I can get them paid off although I am not really showing up late on my credit report? Will they work with me if I am going to pay off the balance? I figure it is pointless to negotiate interest rates if my point is to pay it off…
2) Should I pay off the highest balance of 00, which also happens to have the highest interest rate and then put the rest towards doctor bills or the next higher interest rate card, which the balance is more than what will be left over? Or, should I put the left over money towards paying off the lower credit card amounts and the 00?
3) I have read that if I negotiate lowering my pay off amount with credit card companies then it will affect my credit and this is what I am worried about primarily. Has anyone had any experience with this?
Thank you ahead of time!!

Title pretty much says it all! As with many folks nowadays, I am staring down bankruptcy, and would like to get some expert’s (or those who have gone through this and succeeded) advice. I have ventured on my own, and have been unsuccessful at achieving either a rate reduction or debt forgiveness.

I am paying 23% interest and want to get it lowered or pay off the car at what its worth. I owe 30K and the truck is worth only 18K.

I need to settle my credit card debt. Is it better to wait to negotiate with the collection agency or before it goes to the collection agency or at another point?

Thanks in advance.

my credit card debt is making it hard to pay regular monthly expenses and we have to choose between groceries or the credit card bills.