Will a creditor agree for settlement after reducing the interest rate previously?
You can have a talk with BOF. But, I have a doubt if they will agree. See, they have already reduced the interest rate. Now, you want to cut down the outstanding balance also. Both can't happen at the same time. You got to understand this.
This is the reason why I suggest everyone to consult a genuine debt management company. Because, based on your financial situation, they will suggest you a debt-relief option.
So, I would suggest you to consult a debt management company asap and explain your situation. I hope they will be able to help you out! For immediate debt-help, call 800-DEBT-913 ASAP!!!