bmfay10 Posted April 29, 2007 Report Share Posted April 29, 2007 My wife and I have had some financial difficulties and have had trouble paying credit card minimums. We have stabilized and are looking to tackle these debts. Can I negotiate with the credit card companies? What's the best course of action? I need help quickly because these debts are days away from being sent to a collection agency.Thanks,BMFAY10 Link to comment Share on other sites More sharing options...
SecretAgentWoman Posted April 29, 2007 Report Share Posted April 29, 2007 Can you pay the amounts to bring the accounts current? Link to comment Share on other sites More sharing options...
bmfay10 Posted April 29, 2007 Author Report Share Posted April 29, 2007 I can only set up a payment schedule. The interest is 29.99% on $19K. It won't be long before they own me for good. Link to comment Share on other sites More sharing options...
SecretAgentWoman Posted April 29, 2007 Report Share Posted April 29, 2007 Well, by current I meant whatever amount they want to not send it to collections (usually min monthly + late charges accrued).If you really owe that much, with that interest rate, unless you can get a loan to pay them off, I am not sure you can save your credit. Link to comment Share on other sites More sharing options...
bmfay10 Posted April 29, 2007 Author Report Share Posted April 29, 2007 A loan is certainly an option within next year. For now, I need to stop the bleeding. Will they eliminate the interest and let me set up a payment plan? Link to comment Share on other sites More sharing options...
MadinKS Posted April 30, 2007 Report Share Posted April 30, 2007 For now, I need to stop the bleeding. Will they eliminate the interest and let me set up a payment plan?The answer is always no, until you ask. So, if you are not in default now, your best bet is to talk to the OC and see what kinda terms you can come up with. Good luck. Link to comment Share on other sites More sharing options...
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