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  #1  
Old 08-25-2008, 01:21 PM
wakii wakii is offline
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Default credit card debt

If I have too much credit card debt can I negotiate a deal with the credit card company to pay only part of the debt?
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  #2  
Old 08-25-2008, 03:38 PM
Canadian Canadian is offline
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Quote:
Originally Posted by wakii View Post
If I have too much credit card debt can I negotiate a deal with the credit card company to pay only part of the debt?
You can try negotiating down your interest rate, but I'm not sure if you can reduce the actual debt.
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  #3  
Old 11-12-2008, 02:33 PM
mary1 mary1 is offline
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You can consolidate your bills and get a lower monthly payment, although it will be prolonged in time but to get part of your debt erased, forget it.
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  #4  
Old 11-12-2008, 03:25 PM
trent trent is offline
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After the housing crash, the next thing will be credit card defaults and car loan defaults. All these problems will hurt banks and financial institutions, and they might be forced to come up with solution(s) to help borrowers by lowering interest rates, etc.
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Old 11-13-2008, 03:03 PM
Steven Steven is offline
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I guess in just a few years, there won't be so many expensive cars on Canadian roads. It's funny how people with 40K salary drive Mercedes or BMWs, this is simply not sustainable.
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  #6  
Old 04-22-2009, 10:56 AM
Lumber Joe Lumber Joe is offline
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Yeah, interest rates are negotiable, but debts outstanding due to credit card fees and interest rate are not.
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  #7  
Old 11-09-2009, 10:00 AM
francisford francisford is offline
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yeah, talk it out with your bank. and negotiate with them to lower your interest rates. it's better than to just ignore all those credit card bills. it will get you in trouble later on.
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