3 thoughts on “Has anyone used a consolidation plan to reduce credit rate and debt?”

  1. Your debt is not really bad at all, but it still can be reduced, beware of debt programs, most are scams, you can check out myapprovedreviews.com they have debt program reviews so you dont have to worry about being scammed, hope this helps

  2. Consumer credit counseling sounds ideal but really will hurt you. As a former credit analyst for the worlds largest bank, we treated CCC’s as bankruptcies, in turn requiring a higher down, less of a line of credit, or even decline. Call your creditor and renegotiate the terms, if they tell you no, well they did their job, be insistent, calm and collected. Right now banks etc. are wheelin and dealin.

  3. Credit cards are unsecured loans. So you can just refuse to pay it back completely. Or you can negotiate special arrangements for financial hardship with the debt management team.
    You may also transfer your current balance to a lower interset rate loan or another card. But there are hidden transfer fees and government admin fees that applies for it.

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