If you're anything like the vast majority of the human population, you probably have a little bit (or a whole lot) of credit card debt. As interest rates rise, so do total balances and minimum payments and before you know it you're in way over your head. While it may seem like bankruptcy is your only option you may have a few other alternatives to consider first. One is attempting to lower your credit card interest rates.
Attempting to Lower Credit Card Interest Rates Lowering your credit card interest rates can have a huge impact on the total money you have to pay towards your debt each month. At the same time, more of your hard earned cash will go towards your actual balance - the money you really borrowed - and less will be wasted interest.
Pennsylvania Bankruptcy Lawyer, Bankruptcy San Diego, Chapter 7 Bankruptcy,
Start by gathering a few of your latest bills. Gather statements from all of your creditors, even if you only plan to call one to ask for a reduction. Make a quick list of your credit cards and next to each write what your interest rates are. Don't forget to include the different rates for regular purchases, transfers, and cash advances - especially if you utilize all of those services.
Compare the interest rates you are paying each creditor. Do you really need to keep the cards with the highest interest rates or are they store-specific cards you could easily do without? If so, you might be able to simply stop using a few of the cards you have while focusing on other low interest cards instead.
Once you've gathered all the information you need you'll want to call your credit card customer service department. There are two important things to remember as you prepare to make this call. The first is that the customer service representative on the other end has probably spoken to dozens of people in your situation (likely that same day) and the second is that it's always more productive to treat people nicely.
As such, be polite when you ask your customer service representative about lowering your interest rate. Don't waste time on the phone. Come right out and tell the representative why you are calling. If the representative immediately responds with a "NO" ask how he or she came up with that determination (they should really be reviewing accounts on an individual basis). Remain polite - even if the final answer is still NO. If the answer is YES we suggest pushing your luck a little and asking for a few fee reductions as well. It never hurts to ask.
Should I ask for a Payment Plan? If your account is already behind you will have a difficult time negotiating a lower interest rate. In that case it may be more beneficial for you to ask for a modified payment plan or even a lump sum settlement. Still no luck? You aren't the only person in a tough financial situation and it may be time to seriously consider filing for bankruptcy. Contact a local bankruptcy attorney as soon as possible for advice and assistance.
Is Bankruptcy Right For You? Talk to Bankruptcy Attorneys Free and Confidential. Licensed bankruptcy attorneys are available. Attorneys will call you to discuss your case for free. Find out if bankruptcy is right for your situation.
Rating of Bankruptcy Attorney Seattle
Get Online Application at online Bankruptcy Lawyer.
0 comments:
Post a Comment