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Negotiating your credit card debt

Making the minimum payments on your credit card debt in Oregon may increase what you owe significantly due to a high interest rate, and you could end up paying for years after a relatively small purchase. If you have more than one card, you could also end up with payments that do not fit within the limits of your budget. The team at The Law Office of Kim Covington has often provided advice to people who are struggling with their credit card payments.

According to, you may have options to manage your credit card bills. For example, your creditor may be willing to offer you a forbearance program. This would give you a temporary break from your payments, although it would not eliminate any of the debt. On the other hand, you may be able to lower the total you owe by requesting a lower interest rate or late-fee forgiveness.

Speaking to a debt management counselor may be a route that works for you. That professional would negotiate with your creditors based on what you are able to pay, and restructure the debts. The counselor may be able to get lower payments, reduced interest or fee forgiveness for you.

If you are able to make a lump-sum payment, your creditor may agree to settle for that amount. You may also be able to agree on a lower amount by stopping payments until the creditor is willing to negotiate a settlement.

While one of these plans may sound like a possible solution for you, keep in mind that each of them also has the potential to damage your credit score. None of them is likely to result in completely eliminating your debt without some form of payment agreement. More information about ways to handle unsecured debt from credit cards is available on our web page.

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The Law Office of Kim Covington

Eugene Office
1445 Willamette Street, Suite 9
Eugene, OR 97401

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1135 Dale Street SE, Suite #B
Albany, OR 97321

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1701 West Harvard, Suite 201
Roseburg, OR 97470

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Phone: 541-393-2790
Toll Free: 800-673-1891
Fax: 541-344-6466