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Classyclegg

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I have a lot of credit card debt. Is it a good idea to negotiate a payoff amount with your creditors
I have heard it's better to deal directly with your creditors than a debt consolidation company. Do some creditors slash what you owe, but close the account? I know this would drop my credit score, but I honestly need some debts paid off more than I need a high credit score

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You would lose on the score if the accounts were closed, which is often what happens when you try to get a break from the credit card companies.  Best to get them paid off and one site with good advice on this is Dave Ramsey.  He has a 'baby steps' program that helps get debts paid off reasonably.Stop using the cards until you can get your spending under control. If you haven't read the articles here, please take some time to begin doing so since the purpose of Credit Karma is to TEACH how credit works and they do so very well.

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