What is the best way to bargain with credit card debt? With a company that way over charges on % payments.?

zanesvillezeke, the question relates to her debt, not here interest rate. You are right with your answer though. Ok, are you now negotiating with the credit card company, or one of their idiot collection agents? If it's an agent, send them a cease and desist letter RIGHT NOT and get them off your back. Contact the credit card company and see if they will negotiate with you. How much are we even talking about here? Try offering them 1/2 the balance to pay it all off. Remind them that your friend is retired, and as we all know, pension and retirement income can not be taken by judgements. If they want to sue, they will simply waste a lot of money in court, and still not be able to collect anything. Getting half would be better then nothing. Yes, this strategy does work, but it will depend on how much your debt is and the particular credit card company. If you do work out any kind of payment plan, be sure that they give you IN WRITING an agreement to remove any negative information from your credit record. DO NOT send them a dime unless they agree to this. Otherwise, you will have a bad credit record, plus you will be broke. Contact me if you need any help or encouragement.

They (CC companies) are notorious for that. Better off consolidating the debt, that way you pay principal instead of interest.

Call the cresdit card company again. Tell them you have an offer from another company to transfer the debt with 0% interest and want to know if they could match it. You never know - it HAS happened. You can't lose anything - maybe they will reduce the interest rate. If they think this is your only credit card andyou don't have access to any other credit - they have nothing to gain by lowering your interest; if there is the possibility that you could switch cards then maybe you will have some luck with them.