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How can I get my interest rates lowered?

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How can I get my interest rates lowered?

February 15, 2011
12:31 pm

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This was a question I had too. Thanks for helping out Jon, I really appreciate the information you've given no only in this topic but in others too!

March 9, 2010
5:15 am

Jon Emge

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Forum Posts: 1018

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January 14, 2010

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Brittney,

You may want to look at a debt management plan as a way to consolidate and reduce the rates on the credit cards.

You can also inquire with the card companies directly as to any programs or in house services they can help you with.

Are you currently paying the student loans?

Possibly by obtaining a forbearance or deferring them for a period it would allow you to maximize the payments on the credit cards to pay them off quicker.

There also is the option of settling the cards for less than what is owed, but you would need access to a lump sum in order to be able to do this.

I hope this helps in some way.

Jon

March 8, 2010
1:55 pm

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I am currently in close to 9,000 in credit card debt. One credit card has just switched my interest rate to 24.99%. The other cards are 13.99%. I have 85,000 in school loans. 50,000 is federal and 35,000 are private loans. I don't want to file for bankruptcy, but I am not sure what else to do. I want to go back to graduate school in nursing, but can't due to my debt. I have two bachelor's degrees which is why my debt is so high. One of my degrees was in an accelerated program and I could not work like I did in my first degree. Please help. Is there anyway I can get my credit card debt lowered or eliminated? If nothing else my interest rates lowered? I am only making 2800 a month take home. Please help if you can. Thank you for your time.

Brittny

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