Ask Creditors About Saving Money
If you are worried about credit card debt, or foresee problems with making minimum payments, it could be wise to ask the company to lower your payments.
If you are a customer that is in good standing with your card company, asking for a lower rate could work, according to Massachusetts news source, MyFoxBoston. The practice of asking for lower rates is becoming more common as well. The economy is recovering, but the rate is slow, and customers may have the upper hand when negotiating.
"Consumers say, 'Wow, maybe I can call the company and negotiate,'" Edgar Dworsky, founder of Consumerworld.org, told the news source. "And that’s what we’re seeing more of now."
Dworsky added many companies will negotiate a lower fee because it is easier to retain a consumer than to go searching for a replacement.
One consumer who spoke with the news source lowered multiple bills by being proactive and negotiating with various companies he pays services to. With his car insurance, he saved $12 a month just by speaking with a representative for 15 minutes.
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