Negotiating with creditors

[StarCat]

Has anyone been successful at negotiating with creditors for a smaller interest rate or smaller balance? If so, how did you do it, what did you say that got them to help you with it?

 

[RoseRed]

Pay your bills on time.

 

[PrepH4U]

Has anyone been successful at negotiating with creditors for a smaller interest rate or smaller balance? If so, how did you do it, what did you say that got them to help you with it?

Yes on a lower interest rate, just asked them. I never asked for a smaller balance though. :shrug:

 

[LexiGirl75]

Has anyone been successful at negotiating with creditors for a smaller interest rate or smaller balance? If so, how did you do it, what did you say that got them to help you with it?

"Who do I have to sleep with?" :shrug:

 

[sweetpea]

"Who do I have to sleep with?" :shrug:

 

[Pandora]

A good place to start is a Consumer Credit Counseling place.

I've never had to deal with them, but those I've known that have resorted that route have said they really helped them a great deal. They will negotiate your interest rates down and make the payment for all more manageable.

 

[StarCat]

Pay your bills on time.

I do, I always have. Its getting to be ridiculous though because I can only pay the minimum, so with FC's, I'm getting nowhere.

 

[StarCat]

"Who do I have to sleep with?" :shrug:

me

 

[StarCat]

Yes on a lower interest rate, just asked them. I never asked for a smaller balance though. :shrug:

I asked Capital One, once when they called to solicit payment protection and they told me no

 

[RoseRed]

I do, I always have. Its getting to be ridiculous though because I can only pay the minimum, so with FC's, I'm getting nowhere.

As long as you pay something, they cannot turn you into a credit agency for collections and ruin your credit.

 

[StarCat]

A good place to start is a Consumer Credit Counseling place.

I've never had to deal with them, but those I've known that have resorted that route have said they really helped them a great deal. They will negotiate your interest rates down and make the payment for all more manageable.

Do you know, if going through them, has a negative effect on your credit? I've talked to them before and they said on your credit report it will show that you're working with them. The last time I called, they guy hounded me for an hour for how much I pay for my car, truck, insurance and gas Luckily, the power went out and I didnt have to talk to him anymore.

 

[PrepH4U]

A good place to start is a Consumer Credit Counseling place.

I've never had to deal with them, but those I've known that have resorted that route have said they really helped them a great deal. They will negotiate your interest rates down and make the payment for all more manageable.

I would be very careful of those, just a word to the wise, they are in business to make money. On the pro side you will get your bills paid off, on the con side a flag will go on your credit that says you are having a problem and went through one to manage your finances. Which means, if you need a car or mortgage you will pay a higher interest rate. :shrug:

 

[StarCat]

As long as you pay something, they cannot turn you into a credit agency for collections and ruin your credit.

I want it paid off though, I hate debt, it sucks. We were doing great til my husbands father got sick, then everything went into a downward spiral. Costs went up, pay went down, we were basically living out of a motel for almost 2 months, in WV. Since then, I've only been able to pay the minimum. Alot of times, the minimum is $180 on one of the cards and only about $80 goes to the balance

 

[StarCat]

I would be very careful of those, just a word to the wise, they are in business to make money. On the pro side you will get your bills paid off, on the con side a flag will go on your credit that says you are having a problem and went through one to manage your finances. Which means, if you need a car or mortgage you will pay a higher interest rate. :shrug:

Thats the part I was worried about, since I would like to buy a house eventually.

 

[Steve]

Luckily, the power went out and I didnt have to talk to him anymore.

You could have just hung up. :shrug:

 

[StarCat]

You could have just hung up. :shrug:

Contrary to popular belief, I dont like being rude lol and besides, I figured eventually he might have gotten around to saying something worth listening to

 

[CMC122]

I would be very careful of those, just a word to the wise, they are in business to make money. On the pro side you will get your bills paid off, on the con side a flag will go on your credit that says you are having a problem and went through one to manage your finances. Which means, if you need a car or mortgage you will pay a higher interest rate. :shrug:

They don't actually help like most people think they do.

 

[Pandora]

I would be very careful of those, just a word to the wise, they are in business to make money. On the pro side you will get your bills paid off, on the con side a flag will go on your credit that says you are having a problem and went through one to manage your finances. Which means, if you need a car or mortgage you will pay a higher interest rate. :shrug:

I thought, at one time, they were trying to change all that.

The rational was that a person who consulted in one obviously knew they were having a tough time managing their bills and sought assistance on coping with the problem.

I was glad to hear that the Federal Reserve is not pushing to raise interest rates in a time when gas prices could go thru the roof, because it would have really hurt an awful lot of people right now.

 

[StarCat]

I thought, at one time, they were trying to change all that.

The rational was that a person who consulted in one obviously knew they were having a tough time managing their bills and sought assistance on coping with the problem.

I was glad to hear that the Federal Reserve is not pushing to raise interest rates in a time when gas prices could go thru the roof, because it would have really hurt an awful lot of people right now.

Gas prices are evil, they have done nothing more for us, than add insult to injury

 

[Mousebaby]

credit counseling

We went through credit counseling and when we were done had no problems buying a new car. I don't think it messes with your credit after your finished paying it off.