I have tried to call each credit card company to request a lower Interest rate. Each has declined stating their rate increase isn’t open for debate and if I do not agree with the terms I can simply repay the total amount due and discontinue using their card! Then I asked about just discontinuing the credit line (cut up the card) and lower my interest rate just so I do not have to file for Bankruptcy and they will get paid. Still “Nope”…they said to call a credit consoling company or to go ahead and file if I need too. Two representatives said “I hear this same thing all day long” we are no longer lowering interest rates for this reason. That seems silly to me, work with me and you will get paid all that is owed and a reasonable interest or do not and get nothing???? So I was just wondering, what would happen If I just sent each company a hundred dollars a month with a letter stating this was “my” new contract to them. Would the hit on my credit be any different than the hit I get each month from being late? or from using a bill consolidation company that I must pay? or from filing for Bankruptcy? I would be paying them on time each month but just less than is owed due to the “extortion” interest rate. Can they do anything legally outside of reporting me to the credit bureaus? which they are clearing doing already. I have seriously thought about just sending each of them a hundred dollars a month with a letter explaining the amount and to please let me know when they have decided to work with “me”. Has anyone ever done this and if so what was the outcome? We all know a bankruptcy is not a good thing to have on your credit report, I can only imagine using a credit counselor is not either..however it does show ‘intent to pay’…the same thing I am doing by sending them each a hundred dollars and a letter of intent. I am not talking about a mortgage or auto loan…just credit cards who have raised their interest rate to nearly 30%. Thank you very much for any advice on life experiences in this area.