Making payments on time...
Date: Thu, 05/20/2010 - 14:24
Hello,
I have three CC's with a combined balance of $14k+. I make my payments on time and pay whatever above the minimum I can which on average is $100/mo all together. The rates are quite high with $250/mo of my payments going to interest. I'm not looking to reduce my debt but to save on interest monthly. Do I have any options? My credit is shot due to a second mortgage that is in default. Thank you for your time.
I have three CC's with a combined balance of $14k+. I make my payments on time and pay whatever above the minimum I can which on average is $100/mo all together. The rates are quite high with $250/mo of my payments going to interest. I'm not looking to reduce my debt but to save on interest monthly. Do I have any options? My credit is shot due to a second mortgage that is in default. Thank you for your time.
You may consider consolidating your debt. You can negotiate with
You may consider consolidating your debt. You can negotiate with your lenders to reduce the rate of interest. Also, balance transfer can be a solution. Check out the 'do it yourself' corner.
Hi, Consolidation is the best way to get rid of the monthly int
Hi,
Consolidation is the best way to get rid of the monthly interest,because it is about negotiating with your creditors to lower the interest and waive off the late fees to make payments in an organized way.This is actually the way you can reduce your interest.
It may be worth talking to each of the credit accounts directly
It may be worth talking to each of the credit accounts directly to see if they can offer anything... at the least you will garner some information... and maybe a better rate!
~Matt