how do i go about getting credit card payments lowered and lower interest,instead of filing bankruptcy?

Answer 1

It depends on how bad you are now.
Consolidating means creating a whole new loan for a longer period of time. This would hopefully lower your payments enough so you can get back on track, in this case it might SAVE your credit score.
A credit counselor will give you some tools and suggestions for reducing your payments, just keep an eye on what the % are, you want it to be lower than what you pay now.
However, debt consolidation can be nothing more than a way of putting off the evitable. It really does little to correct the problem. That's why many people come back to debt negotiation as a way of getting out of their financial problems and starting fresh start.
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good luck!

Answer 2

Find a Consumer Credit Counseling office near you. They are non-profit, and part of the Better Business Bureau. They will counsel and educate you on managing your finances, and you will get certification in that, which will help your credit rating later. They take all your bills, contact all your creditors, get the interest rates lowered, and then they pay them for you monthly, for just a small monthly fee (like $25). You have to cancel all your credit card accounts, and not use credit any more. In 3-5 years, you have no more debt. It's a great feeling. Your bills are paid on time, and all you have to do is give them a monthly payment (cash or cashier's check) which is LESS than what all your bills were before that.

http://www.consumercredit.com/

http://www.consumercredit.com/howitworks.htm


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Answer 3

Just ask the creditors! Talk with them and let them know what you are trying to do and let them know you're trying to avoid filing bankruptcy. Perhaps you can even ask if you can defer a few payments if this will help. Lastly, I suggest contacting a non-profit consumer credit counseling agency in your area. They see consumers like yourself everyday. They are professionals at handling debt and are there for you whichever route you have to go.

Good Luck

Answer 4

twelve months out of financial ruin there is not any way you will qualify for a intense minimize, low annual value, low APR card. It takes years to recover from financial ruin and to rebuild credit. There are agencies who focus on credit taking part in cards for persons who've financial ruin on their records, yet you will pay a intense activity fee and could maximum in all probability be required to place income first and with sturdy reason. on the grounds that I artwork in credit at a financial business enterprise, I see this all too usually. you would be rebuilding that credit for many, some years - even after the 7 years it takes to get it off your document. it rather is why submitting financial ruin isn't a speedy fix, it rather is a final-ditch decision. To get your credit returned up will take due diligence on your section and somewhat some time. superb of luck to you.

Answer 5

My mother had this same problem. She actually phoned up the companies and told them she was having difficulty paying them back but offered to still pay something per month instead of nothing at all.

She offered to pay £10 a month because thats all she could afford and they accepted that offer because they were glad that she was still paying something instead of nothing.

It might be worth a try.

Answer 6

the free consumer credit counseling service

Answer 7

If you also have a mortgage this company might could help: www.NoDebt4U.org