:max_bytes(150000):strip_icc()/GettyImages-1334323941-f4c08571368e479296ef4bd6580cba25.jpg)
Most credit card issuers wont forgive all your outstanding debt, but they will work with you on repaying with a different payment plan. They may also negotiate with you on the total amount you owe if you are severely delinquent. You can take several different approaches to reducing what you owe in credit card debt, depending on your situation. Heres what you need to know about credit card forgiveness and how to pay down credit card debt.
Key Takeaways
- Credit card forgiveness from credit card companies is unlikely.
- You may be able to negotiate with credit card companies for other debt relief, like creating a debt management plan.
- A debt consolidation loan can help you pay down credit card debt faster.
- Debt settlement will reduce wh…
Read the full article at: https://www.investopedia.com/credit-card-debt-forgiveness-8424854