Negotiate those credit cards

I have lived like most of you , using my cards for most purchases. Unexpected loss of a job changed how I now have to use them. Have you assumed , as I did , that you will be able to pay these off? Take my word for it. It may not be reasonable in these economic times.

What have you done ? Pay the minimum amounts? Ignored them? Cut up those cards? These are not the best choices. With interest rates moving to more variable rates rather than fixed rates, it becomes a extremely difficult task to pay those cards down. Do you agree?

I was fearful of calling my credit card lenders because of a bad experience that I had had with them. I changed my mind after speaking with some debt consolidation companies. I made the call after giving myself a good talking to regarding not losing my temper. You might want to pick a time when you are the least stressed , calm and patient. Patience will needed because you may have to wait to speak with customer representative.

How many of you readers have done exactly this? What was the results? Will discuss my experience in my next post.