Is there a way to get credit card companies to low

Is there a way to get credit card companies to lower interest or balances? I am not late on any payments, but the interest rates are killing any chance of paying down the debt...and killing any chance at saving or budgeting. I have tried the snowball thing, but can't seem to amass enough to even pay off one card. I am self-employed and the monthly income flucuates too much.

4 Answers

You can contact with the credit card companies and explain them about your financial situation. If they don’t agree to negotiate with you, then you may enroll in a debt consolidation program. This program will help you to replace your multiple bills into a single monthly payment.

Yeah, you will have to talk to your creditors about the financial problem you are having and that you are getting stressed over making the payments on the credit cards as these have high interest rates. However, if you have several credit cards, you can opt for debt consolidation to ease the whole situation.

For more details you can refer:


Negotiate with your creditors, tell them about your financial hardship and ask them to arrange an alternative repayment plan for you so that you can repay the debts with ease. Most often it is as simple as that and if you still face a trouble doing that on your own, you can even contact a debt consolidation company so that the debt consultant works on your behalf and attempts to lower the interest rates.

Have you tried asking them to lower your interest rate?  Sometimes it's that simple.  If that doesn't work, you can ask to be put on a hardship plan.  You could also try settling them yourself or signing up for a debt management plan.

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I am not an attorney. I am not offering legal advice. The information and ideas I share are my opinion only and do not necessarily reflect the opinion(s) of the owners of this website.

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