Hi There,

I have two major credit cards that I've been trying to pay off since 2000. I have one for the amount of $1950 and the other one for $1092 and all I can afford is to make the minemum payment.

My question is, would I be able to contact the credititors and ask if I can get a settlement by paying off my outstanding balances in the less amount that I owe them?

If so, what would be the right question to ask the creditors before coming to this agreement.

Thanks,
Estela

If you cannot afford to pay 3000 dollars how will you be able to afford to make them a payoff offer? Remember it is to their advantage for you to just make the minimum payments each month. That 25% interest makes them a lot of money. Better choice might be to go to your bank or credit union and get a 3000 dollar loan and then pay off the credit cards.