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Debt Negotiation and Settlement
Most people are under a huge mountain of debt, caused mainly by overuse of credit cards.
Many credit cards have interest rates of 18% to 21%, and some even have higher rates. It's hard to imagine when you first use your credit card what paying 18% interest can do to your financial health, but, it's devastating.
It's hard to pay down your debt when you have to pay such high interest rates. So, what can you do?
First, realize that there are alternatives to paying high credit card interest payments.
You may consider a consolidation loan if you have equity in your home. You can also transfer your current credit card debt to another credit card with lower rates for balance transfers.
Credit card companies love to get people to go into debt with their credit cards because it's such a money maker. So, they will offer you low rates to switch your balance to their credit card.
Here is where you have an opportunity to negotiate with your current credit card company.
Call your current credit card company's customer service center and let them know you are thinking of switching to a new credit card with a lower interest rate. Ask them if they can reduce your interest rate to match the competing rate.
Often, to retain you as a customer, they will lower your interest rate. And, you will wind up paying less in interest so you can pay down your balance faster.
For an hour of negotiating, you probably saved several hundred dollars. That's a pretty good return for an hours work and couple of phone calls.
Debt negotiation and settlement resources for you to consider
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