interest rate query
Date: Fri, 07/09/2010 - 10:19
have you talked to your creditor? Are you making more than the
have you talked to your creditor? Are you making more than the monthly payment? What type of debt?
You should directly talk to your creditor about this. Sometimes,
You should directly talk to your creditor about this. Sometimes, creditors do agree to reduce the interest rate. However, you will have to show good reason, based on which the creditor may reduce the interest rate.
Another option would be to go to your local bank or credit union
Another option would be to go to your local bank or credit union and see if you qualify for a personal loan at a lower interest rate and then pay off the card with that. When I got into trouble I tried to get the cc to reduce their interest rate and they simply wouldn't do it. So I had to quit paying and settled the accounts for less than what is owed. They would have been better off giving me the lower interest rate - but they made their choice!
Nobody is giving out $15k unsecured loans right now. Most wont
Nobody is giving out $15k unsecured loans right now. Most wont go much over $5k without a good banking relationship or collateral/security.
Quote:Originally Posted by SCYou should directly talk to your cr
Quote:
Originally Posted by SC You should directly talk to your creditor about this. Sometimes, creditors do agree to reduce the interest rate. However, you will have to show good reason, based on which the creditor may reduce the interest rate. |
No I haven't talk to my creditor . . . that's a good idea, I try it. I have the amount taken out automatically from my checking; but know what's weird - my monthly payment was suppose to be $389 monthly that's what it started out as four years ago now it's down to $350 . . . what's up with that?
I'm also thinking "debt settlement". :oops: