Info on laws govn reducing interest/payments

[maxwell18]

Been told by c/c they have laws that governing reducing payments and interest on current c/c loan non secure. Is this correct or smoke and mirrows (sp). Sounds like bs to me.
Thanks

[freeatlast98]

I don't know if it's true or not however, my creditors are offering low interest rates such as 1.99%, 3.99% and 7.99%. That would be great if I could take advantage of it. I starting to get the idea the credit card companies just want to cut there loses and get something rather than nothing. Has anyone else had experience with this?

[flyinbroke]

They would rather get something than nothing. Had one go 5.99 for me but the timeframe I had to pay it off would be larger than the minimum payment so it would not work. Had a couple settlement offers; one was too high and one was a CA who refused to send the dunning letter with said settlement offer.

If you can swing it, yes they would take no interest....even if they took 0.00 from here on out, they piled plenty of profit on your borrowed principle.