Are there any adverse consequences to calling my credit company to have them reduce the interest rate?

Question

I have good credit, always paid my bills on time (or at least the minimum), and have been a loyal customer for years. I have some debt right now though, and the interest charges are adding up.

Such as:
- my credit score being lowered
- my credit card company putting me on some kind of "strings attached" list
- certain good features of my credit card being revoked

Or is it all a "no strings attached" complimentary service that they can do?

Thank you.

Answer 1

No. But I used a company called Fast Debt Solutions in Carrollton TX. I started with just a little over $30k in credit debt and have now paid off 2/3 of it in just a year and a half. You can go to their website directly. I think it's the same name. www.fastdebtsolutions.com

Answer 2

None....but don't expect them to help you....They will only help when they think you're going to default and that it would be in their interest to help you make at least some payments to them...so in cases when people are like 2 or more months late...they may reduce interest.

Answer 3

call and ask you have nothing to loose