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 Posted: Fri Aug 11, 2006 4:49 pm Subject: The interest rates on my debt is killing me |
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The interest rates on my debt is killing me. I had pnuemonia and was out of work for a week and miissed some payments and my interest rates went up on my credit cards. most are around 20%
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dstnbrw20
Joined: 11 Aug 2006
Posts: 1
Debtcc Points: 29
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| Posted: Fri Aug 11, 2006 4:57 pm Subject: |
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Have you tried to talk with the original creditors about your situation?Maybe they canwork with you on lowering the interest. My son,who is disabled,had a deal offered by Sears to pay a certain amount for a year,and they would drop the interest,late fees,etc,worth a try.  ...Karen
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As long as you are alive, there's always hope
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Bossy4455
Moderator
Joined: 27 Feb 2006
Posts: 5459
Debtcc Points: 64216
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| Posted: Fri Aug 11, 2006 5:16 pm Subject: |
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Hi dstnbrw20
The interest rates can be slashed down when you take the consolidation plan. Your debt might be added with some late payment fees as well since you have missed a few payments. A trained expert will be negotiating with your credit companies to reduce the balance. Talk with him and fix your payments. Make sure that you don't default in the consolidation payments. In case, if you default, all these facilities offered will be reverted back. You will be forced to pay the more than the amount that is fixed presently.
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andyyoung
Joined: 05 Jun 2006
Posts: 473
Debtcc Points: 6485
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