Debt Negotiation: 3 Terms Credit Card Companies Won’t Change

image of cut credit card debtCredit cards can help you through the tough times. They can give you a way to score rewards while shopping. They can provide you with a way to spend money without carrying cash. All that said, however, it’s easy to get in over your head. Millions of Americans have found themselves in too much personal debt. They are scrambling for a way out of the minimum-payment rat race.

Going through debt negotiation with an experienced lawyer can be an excellent way to procure more favorable terms. Talking directly with your credit card company can work as well. If you choose to do so, however, here are 3 terms they are unlikely to negotiate.

Promotional Offers

Credit card companies lure customers in with introductory rates and balance transfer offers. When that promotional term ends, some customers like to think that a simple phone call will be enough to extend the free ride. Seldom are they right. Credit card companies make a lot of money off customers who fail to pay off their purchases in the introductory period. They aren’t likely to give that up without a fight.

Late Fees

Though you can probably get your company to forgive a single missed due date, don’t count on repeated lenience. Customers who are repeatedly late on their bills may be a source of great income for the company. They are also the types of customers who will eventually file for bankruptcy. This makes them of marginal value to the company and puts you in a disadvantageous position for negotiations.

Convenience Checks

We are entering an age where it’s often much easier to pay by credit card than by check. But there are times when a check just works. This is especially true when you want to borrow against your credit line. Make sure you check the fine print however. Most companies charge a fee of at least 3% of the check sum when customers take advantage of this little convenience. Because these terms are written clearly, few credit card companies are willing to budge after the fact.

Need Help? Call a Milwaukee bankruptcy attorney

You may not get far with your credit card company when it comes to the above terms. But there are other things that may be up for negotiation. A Milwaukee bankruptcy attorney can help you in your quest for successful debt negotiation. This can put you on a path to financial independence. The people at Hanson & Payne are dedicated to helping clients with bankruptcy, debt negotiation, tax debt strategies, and more. Contact a lawyer today and see what they can do for you.