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 Posted: Tue Oct 23, 2007 1:47 pm Subject: Friedmans Jewelers |
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Has anyone settled a debt with Friedmans Jewelers? They won't lower their interest rate with my dmp. It is currently at 23.96% If I can get some low interest money from a relative I would offer to pay them off at a reduced amount. Any suggestions? My DMP counselor said it is okay for me to pay off a debt completely but not so good to negotiate a new repayment plan. I don't know why. Also, when income tax time comes I was thinking I would pay off a company that would offer the best deal. Any suggestions or comments?
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bobsterbob62
Joined: 22 Dec 2006
Posts: 37
Debtcc Points: 1367
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| Posted: Tue Oct 23, 2007 2:44 pm Subject: |
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Have you asked them if they would reduce the debt if you paid it off in full? Frequently creditors will offer a settlement deal.
_________________
"It's a treat, being a long-distance runner...."
Allan Sillitoe, The Loneliness Of A Long-Distance Runner
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finsfan13
Moderator
Joined: 17 Feb 2006
Posts: 7018
Debtcc Points: 59833
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| Posted: Tue Oct 23, 2007 6:25 pm Subject: |
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That's a great idea finsfan! retail cards are just awful and don't like to work with us especially if we have a dmp plan. I'm actually encouraged to hear that you were able to get them on your plan at all, that's very good. please let us know if you're able to do what finsfan suggested, that way those of us with credit from stores like that will know should we have a similar situation.
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debtstinker
Joined: 08 Oct 2007
Posts: 288
Debtcc Points: 2786
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| Posted: Tue Oct 23, 2007 6:27 pm Subject: |
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I also mean to say that when you get your tax money to pay something off as you plan to do. When I got a little money, I paid off the smallest amount first and then went up from there. unfortunately, my counselor did the negotiating for me, so my plan didn't allow me to renegotiate the plans that were already in place, part of that i'm sure is that i signed on the dotted line agreeing to the existing terms and conditions of all the companies involved. Kudos for having a responsible plan for that money!
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debtstinker
Joined: 08 Oct 2007
Posts: 288
Debtcc Points: 2786
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