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Getting your budget planner rolling when you have an exceptionally high amount of credit card debt is essential. Sometimes it’s hard to feel like you’re making any headway if you’re only able to afford to pay the minimum payment.

The fortunate thing is that you do have the ability to call and negotiate with your credit card companies to get the balances reduced. It doesn’t take much to find out if your companies are willing to talk with you in finding a way to reduce your burden.

Following the simple advice below you’ll be able to find this out quickly and could be on your way to reducing your credit card debt sooner than you think.

Gather Your Cards

You’ll want to gather all of your cards and make a list of those cards going from the highest balances and interest rates to the lowest balances and interest rates. You’ll want to start with the higher ones when you call to negotiate as those with the high balances are going to give the company more room to work to look for a balance reduction and a reduction in your interest rates. If you’re able to get some reductions you’ll be surprised how much money you’re going to be able to save.

Call Customer Service

Call the customer service departments on each of your accounts and when you get to a representative you should ask to speak to someone that would have authority to talk about a balance negotiation. The first person that you reach isn’t going to have the authority to reduce your balance so it’s really not worth your time to explain anything about your purpose for asking or your situation. They have no power to help, wait for someone who does.

Ask For It

When you reach the person that you need to talk to ask for your balance reduction and making sure to explain your specific reasons for asking for one. You’ll find that most of the credit card companies are going to prefer a reduced amount rather than losing the entire amount should you decide that you want to declare bankruptcy. Let them know how dire your situation is and let them know that you’re in a bad position if they aren’t willing to help you. Rather than sending things to collection or writing off the entire debt they are often going to be willing to negotiate with you, sometimes not but more likely than not.

Request Written Confirmation

When you’ve reached an agreement don’t take anything that’s not in writing. You want to make sure they send you a document that states the agreement that was made. Nothing is final until you have it in writing.