Debt consolidation vs. debt relief vs. debt negotiations, it all very confusing, what is the best way to go?
Monday, September 7th, 2009 at
12:11 pm
You are currently browsing comments. If you would like to return to the full story, you can read the full entry here: “Debt consolidation vs. debt relief vs. debt negotiations, it all very confusing, what is the best way to go?”.
Tagged with: bankruptcy • Consolidation Debt • credit card debt • Credit Debt • Debt Consolidation • Debt Negotiations • Debt Relief • debts • financial crisis • Salary
Filed under: Free Money Saving Tips Debt Relief
Like this post? Subscribe to my RSS feed and get loads more!
Before you are late on any of the cards, call each one and question to speak to an account rep. Try not to waste time with the person who answers, they don’t have the authority to change the stipulations on your account. If they keep trying to block you, just tell them you want to speak to someone about possibly finishing the account. That should certainly get you switched over to the right person. Proceed to tell them the situation, feel free to "lay it on thick". Just tell them you’ve recently only been making minimum payment and now your hours/pay has been cut but your expenses remain the same. Question them to lower the interest rate. Even if they only lower it by 2 or 3 percent, it’s progress. Creditors are more willing to negotiate right now with the way the nation is. Once you are late you loose bargaining power. Excellent luck.