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Trustfund Group

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  1. Hey Kellie, This can be tricky. Since you are already making monthly payments and are current, the likelihood of the credit card companies lowering your interest rate or principle is unlikely. Generally, they do not budge unless you are a few months behind. Once they see that you haven't been making payments, they will be more inclined. Have a good story. Talk to them about struggling to meet the monthly payments and how you won't be able to continue for much longer. Ask for information about their hardship program. This will shut your card down, but also prevent future interest to build. Ask them if they could reduce the principle if you borrowed money to pay off the debt in full. Keep fighting, don't take no for an answer. I dont recommend you stop paying your monthly bills, but sometimes thats what it takes to push them to lower your debt or interest. Bankruptcy is the LAST resort. Call your creditors and negotiate. See if they have a hardship program. I would even stop paying my monthly bills a few months and then call to try to negotiate OVER claiming bankruptcy. There are debt relief companies out there that will promise you pennies on the dollar, but try to stay away from these. There are a lot of scams in that industry. I hope this helps, Brad Trustfund Group
  2. Dispute with Experian, check your other credit reports to make sure they aren't on them as well. If they are, dispute them too.
  3. Hello, First of all, make sure these debts are valid. Don't let the collection agencies bully you. Considering your circumstances, I would advise you to call the lenders and collection agencies and try to negotiate your debt down. Have a good story for why you haven't been paying your debt down. If you come across as someone who is struggling to meet the minimum monthly payments and are desperate for a solution, they are more inclined to help you out. Ask them if you borrowed money from a relative, could they reduce the lump sum. Sometimes they will reduce the amount accumulated through interest. Credit card companies usually have a hardship program that will freeze the card, preventing future interest to compound. They will put you on a payment plan to pay off the debt, but ask them if it could be less if you paid it off all at once. Lenders and collection agencies prefer this, especially if you are behind on your payments. Medical debt can be removed through credit repair, depending on your situation. You're definitely on the right track! I hope this helps, Brad Trustfund Group
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