Whether it is for once in a while splurges or for everyday essentials, spending is easy when there is a little piece of plastic in one’s wallet. However, paying off those balances is not always easy for everyone in Nashville. When the payments become overwhelming, many people do not know what to do. However, one simple solution that is easily overlooked is to simply call the credit card company and ask for help.
According to WSMV Nashville, people who take this step are usually met with success. If a financial setback is only temporary, a raise in credit limit may be helpful. Studies show that people who ask are successful in getting their limit raised 90 percent of the time. In addition, 87 percent of requests to have a fee waived are approved. Another remedy that people might seek from their credit card company is a lower interest rate.
Of course, as Creditcards.com points out, the person who first gets on the phone may not be the one with the authority to grant these kinds of relief. Therefore, it is important to get connected with the right manager who can approve any changes to the account. If successful, getting the solution in writing from the credit card company is important to ensure that the terms will be honored.
People who are not comfortable trying to undertake this kind of negotiation themselves, may wish to see out a debt management program. A credit counselor can act on a person’s behalf to communicate with creditors and try to work out an affordable solution. Those interested in this route should make sure that they agency they work has the proper credentials.