Bobbing in the water
Date: Fri, 03/18/2011 - 05:44
Hello. I've been able to keep up with paying just above minimum or just minimum on my considerable consumer debt, a combination of credit cards, auto loan, student loan). However, I'm bobbing the water. I've got good credit and always pay on time or before the due dates, but I've got to reduce my monthly payments. Things were manageable until the interest rates went through the roof. I tried about 18 months ago to renegotiate some of the interest rates, but to no avail. I don't want to ruin my good credit. What are my best options? Thanks!
Hi! Welcome to the forums! Most creditors refuse to negotiate a
Hi!
Welcome to the forums!
Most creditors refuse to negotiate a repayment plan unless you are delinquent on your debts. However, You can negotiate an affordable repayment plan with your creditors after explaining that it is not possible for you to pay the high interest rates. If they refuse to do so as they have earlier, then you can take advantage of the debt relief options and fulfill your financial obligations. Check out the following page to know about the debt relief options:
http://www.debtconsolidationcare.com/debt-relief.html
