Advice on negotiating with Credit Card Companies

[Anonymous]

I would like some advice on how, if possible, to negotiate with credit card companies to either lower interest rates or monthly payments.

Due to the recent downturn in our National economy, my yearly earnings have been reduced by as much as 25-30% over the last two years. As a result, it has been very difficult to keep up with all of my monthly expenses, including my credit cards.

Income in my business is related to seasonal factors. So, between November to January my income will increase significantly to the point where keeping up with regular expenses will be less of an issue.

I am wondering if anyone knows of any specific protocol within the credit card industry that allows for such a interim hardship situation?

In other words; is it possible to negotiate for a reduction of rates or interest for short periods while the consumer is rebuilding income?

Thank you for your input,

Eglbear

[Anonymous]

I can only speak for Discover. They were very helpful when my husband was in between jobs. They were able to postpone his payments, he didn't have that payment protection insurance either. But this will depend greatly on the specific credit card company. Barclay's will work with you as well.