I Have $90,000 in Credit Card Debt. – Kathleen

“Dear Steve,

I have 90K in credit card debt. I would like to pay them off some day. I know I shouldn’t get myself in much debt but It already happened. I just want fixed it.

I have called BofA and Chase to lower my interest. I was in the 5 years payment plan with BofA & Chase. I have Discover for 9K and Wells Fargo for 8K. With Discover, I had the interest rate at 5.9%. Last month they raised the interest rate to 27.99% with the reason that my balance transfer promotion expired.

I tried to call to get the lower interest rate but they won’t help. I sent a letter to OCC to complain. What I could do to lower this interst rate. I carry a balance of $8K with Wells Fargo. Please give me the advise of how to lower my interest rate. Please don’t judge me for the debt. I know I’ve been wrong. I just try to pay off. I don’t want to file Bankruptcy either. Thanks in advance for your help.



Dear Kathleen,

Internal repayment plans with the creditors typically last for only six months. Outside of bankruptcy the only way to possibly get your interest rates reduced some would be through a credit counseling program. You can click here for credit counseling information. Of course in bankruptcy your interest rates go to 0%.

I’m curious, why not consider bankruptcy?

By the way, you don’t need to worry about me judging you for your debt, there is nothing to be judged about.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.
Damon Day - Pro Debt Coach

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