Anyone here have any luck...

[pattycake]

Negotiating payments with creditors? I'm broke, just found a job and only bring home 2/3 of what I need on a monthly basis to pay my bills, buy food and car. I read through a helpful article here online that suggested calling creditors to work out lower payments. I'm seriously going to have to declare BK if I can't cut my monthly bills by at least $1600. Help?

[Shellie]

Are you talking about cutting the payments you're making to collectors by $1600?

I have had a tough time getting payments I could afford on several of my bills!  I always ask to speak to a supervisor.  It has helped me to tell them something along the lines of  "I can pay $25/mo right now and as soon as I get in better shape I will pay more."

I have found that a lot of the places I make payments to are requiring higher minimum payments, unfortunately.

I wish you the best.

[pattycake]

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@Shellie wrote:

Are you talking about cutting the payments you're making to collectors by $1600?

I have had a tough time getting payments I could afford on several of my bills!  I always ask to speak to a supervisor.  It has helped me to tell them something along the lines of  "I can pay $25/mo right now and as soon as I get in better shape I will pay more."

I have found that a lot of the places I make payments to are requiring higher minimum payments, unfortunately.

I wish you the best.

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Yes, cutting payments down to about half of the scheduled payment. Only with the ones that have higher payments. I had to take a 50% pay cut and my bills eat up all my earnings.

[Rain77]

Some years ago I had luck with Chase.  I did  have to close the card and they lowered the interest rate to about 1 or 2%, and min payments were fairly low.  I'd definately call before you fall too far behind if not already.  They may require account closure.