Credit Card Companies Are Warming Up To Reduced Payoff Deals

Credit Card Companies Are Warming Up To Reduced Payoff Deals

If you’ve fallen into a debt pit and can’t make your credit card payments, and now you’re watching them steadily mount with penalties, fees, and steep interest rates, consider negotiating a lower payment. The New York Times reports that while most card companies won’t admit it officially, they know when they’ve got a customer who can’t pay, and they’re much more willing to settle for a lower amount than they were a year ago.