Please help me reduce the amount that I am paying
Date: Mon, 02/19/2007 - 17:13
Hi, I have an unsecured personal line that I am now paying 24% interest. This is not a credit card, but a personal credit line from the bank that I do most of my buisness with. I owe around $24,000 on this. I am current with the payments but I can never get ahead of it. I pay over $500 interest each month. I have called the bank to see if there was a way that I could reduce the interest rate and was told the only thing I could do was to apply for a term loan. I did not qualify. What can I do to reduce this, I can barely keep up. Thanks, Darrell
Hi Darrell, most of your hard earned money is going towards inte
Hi Darrell, most of your hard earned money is going towards interests alone. You have to make larger payments in order to catch up on the principal amount. You may also opt for a debt management plan and get the benefits in your repayments. The interests will be kept lower from the existing rate along with affordable repayment options. Since you have already registered in the website, some from your area will be calling you and give a free quote. Discuss about your situation and figure out the suitable plan.
