I have 2 credit cards, Citibank and Amex, with a total balance of $19,000. I have never been late with a payment and have always paid more than the minimum. However, both cards have raised my interest rate (Citibank doubled!) and Citibank even decreased my limit. I ran into trouble with my mortgage company which affected my credit score. I'm sure that is part of the reason why both credit card companies increased my rates. My payments are now very expensive and I am barely making it.
Anyway, I put my house up for sale several months ago (couldn't afford it anymore) and it is finally under contract. Assuming everything falls into place, my house should be sold next month. I might be able to pay off all my credit card debt! However, I am wondering if it is possible to negotiate a better pay off amount. What do you suggest?
