Negotiating for a lower total payoff?
I need help. I have 52,000 in total credit card debt over 4 credit cards.
I haven\'t missed a payment, but now work is cutting back and I\'ll never be able to crawl out of this debt. My parents have informed me that they will pay it all off, but they want me to call the companies first and see if I can get a lower pay off amount. Is this possible? Who would I contact at the companies and what would I say? I have good credit I guess, so I don\'t want it to get to collections before I get a lower pay off because that would destroy my credit right? I\'ve created a budget and cut out a lot, but I\'m pretty much only able to make minimum payments. (1400 a month). Please help!