I owe about 7k on my credit card and haven’t made payments for several months because of financial issues. Things are getting better now, and I want to stop my debt from being sent to an attorney. The company has been emailing me, saying it’s going to happen soon. Is it possible to call them and negotiate to lower the debt or set up a payment plan? Can I even do this?
I just want to handle this responsibly and clear up my debt.
I’m not sure if this is the right place to post this since I’m not really familiar with how this forum works, so sorry if this is the wrong spot.
There’s a bit of a trade-off here. If you go for a payment plan, it’s unlikely they’ll reduce the overall debt, but you might get lower or no interest.
If you want a discount on the balance, that usually happens once it’s gone to collections and they offer a deal for payment in full.