I do not know how to contact my creditors and nego

I do not know how to contact my creditors and negotiate fr a lower interest rate. I plan on paying all of my cc debt off, (15k) but need to lower my interest rates to get there.. How do I get them to agree. They will usually say no.

5 Answers

I think you can go for balance transfer method which will help you to lower your interest rates. To know more about balance transfer, you may visit the following link:

Contact the creditors and explain your financial situation to them. Tell them that you are finding it extremely difficult to pay the high interest rates. Request them to lower the interest rate on the debts. If your case is genuine, then the creditors may agree to reduce the interest rates.

Check out the mailing guidelines for contacting the creditors.


Call your creditors and tell them about your financial hardship. Be honest and give them the exact reason that has kept you from making payments on time. Tell them that if they don't alter the repayment plan, you may have to file bamkruptcy and they will in turn receive no money at all. Negotiate a favorable repayment plan so that you can stick to your budget and also gradually pay your debts in single affordable payments.

Jeorge...do you even know what CCCS does?  Have you looked at their website?  CCCS does both counselling/budget management PLUS they are a non profit debt relief company.  Maybe you should educate yourself before giving advise to others.

How to Deal with Illegal Loans..OhioGal's Primer
PDL's are ILLEGAL in the following states...
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states

your local Consumer Credit Counseling Service (CCCS) offers guidance on improving your credit record. They'll also help you set payment plans with the creditors in the event your fall behind on your payment. Alternatively you may attend a free counseling session with a professional debt repair company. They'll probably be able to show you through the right debt management plan.

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