There are some practical ways that might help when you are looking to reduce your credit card debt and things that you could ask for when phoning up the companies and speaking to them about your different problems and what and how they can help in the solution. It is always best to be calm and talk to the company in a pleasant manner, shouting at them will not help the situation.
Always call the credit card company in the morning; people at the company are normally feeling good still and not wanting to get home. They might do more for you than if you call later in the day.
Explain to the credit card company what your intentions are, tell them that you will pay all of the debt back to them but you need to make smaller payments. This is a way to find debt relief. Tell them this they might surprise you with the help that they offer. Don’t try and get out of paying the debt, you owe the company the money you should work out a way to pay that money back.
If you have never had a problem before and it is the first time that you need their help then tell them this, they might be able to offer you a deal. It is those that ask every month and still don’t follow through that will find that the companies will not offer them much help.
If you have been with the company for any length of time remind the company of this they might realise that loyalty actually means something and they might reward you for this. It might help finding you some debt relief.
Ask the company if they would consider renegotiation the interest rate that you are paying and give the reason that you are requesting, that you hope to pay of more than the minimum each month especially if the interest rate is dropped. This is again helping to gain you some debt relief.
If you normally are good at paying your monthly bill and you are late and end up with a late payment fee you could ask them if this time they would remove the fee as it is your first offense. They might be willing to do this. It will give you some benefit to your debt relief.
If you find yourself in a financial crisis and you can’t afford to pay your monthly balance, speak to the credit card company they might allow you to miss a couple of payments. This will help with immediate problems but won’t give you long term debt relief. The company will continue to charge you interest and they will tell the credit reference agencies and it will affect your credit rating.
Ask to talk to the manager rather than going through the person who answers the phone, they are unable to make the decisions that you will need answers too. But always remember to record the details of who you are speaking too and when you spoke to them.