Re: Reduction of Interest/Delayed Payments

Posted by Mathiue on December 06, 2001 at 17:23:35:

In Reply to: Reduction of Interest/Delayed Payments posted by Catherine on December 05, 2001 at 14:13:39:

Linda is right....pick up the phone and ask for a lower rate, claiming lay off or other good reason. Just asking for a lower rate due to the high interest rate chared will get you nowhere.

However, once you have the lower rate (6-8%) then pay more than the minimum payment due (if allowed). Otherwise all you are doing is paying the interest, and not making progress to reduce the debt.

Mathieu

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