Ann wrote to me through the GetOutOfDebt.org site and asked the following question. If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.
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“Dear Steve,
All my credit cards have been closed (three) I have a balance of about 15 thousand that needs to be paid. I have made no payments. I was paying one. (With more than the minimum but that company got bought by another and they decided to drop me)
The percentage rates on the cards are all 27-29% how do I get them to lower the rates so I can pay them off?
Ann”
The Answer:
Dear Ann,
Simple! As long as yo can afford the minimum payment of $300 a month, you can beat the creditors at their own game by joining a debt management program. Depending on who your creditors are, you can get your rates really reduced and then after a couple of payments, bail from the debt management program to save the monthly fee and make the payments to your creditors yourself.
