How to Negotiate Credit Card Debt: Proven Tips to Lower Your Balance
Credit card debt can feel crushing. Many people carry balances for years, paying enormous interest charges that barely touch the principal. Fortunately, negotiating your credit card debt is not only possible but also more common than you might think. Card issuers deal with this situation regularly, and they often prefer to reach a deal rather than write off a balance entirely.
In this guide, you will find step-by-step strategies to help you lower your balance, reduce your interest rate, and regain control of your finances. Whether you owe a few hundred dollars or tens of thousands, the right approach makes a genuine difference. According to Bankrate, thousands of Americans successfully negotiate their credit card terms each year. You can too.
Moreover, understanding your options before you pick up the phone puts you in a much stronger position. Let’s explore exactly what you need to know.
Why Credit Card Debt Negotiation Actually Works
Credit card companies are profit-driven businesses. When a borrower stops paying, the issuer faces a difficult choice: pursue collections, sell the debt to a third party, or work out a deal. Since collections and debt sales often yield far less than the original balance, many lenders genuinely prefer negotiation.
Therefore, your position is stronger than you might realise. Card issuers know that a partial payment today is better than nothing tomorrow. Additionally, they have dedicated hardship teams trained specifically to find workable solutions. Reaching out proactively, before your account goes severely delinquent, typically produces the best outcomes.
According to Chase Bank’s debt negotiation guide, successful negotiations can lead to lower payments, reduced stress, and the ability to allocate money toward other priorities. Furthermore, resolving debt early can prevent the long-term damage that comes from default or bankruptcy.
Credit scores can take years to recover from a bankruptcy filing. Consequently, even a modest settlement agreement is often a far better outcome than letting the situation escalate to that point.
Assess Your Financial Situation Before Calling
Before you contact your card issuer, you need a clear picture of where you stand financially. Preparation is not optional here; it is essential. Lenders respond better to borrowers who know their numbers and can speak confidently about their circumstances.
Start by gathering the following information:
• Your current total balance on each card
• The interest rate (APR) being charged on each account
• Your minimum monthly payment obligations
• Your total monthly income after taxes
• Your monthly essential expenses, such as rent, utilities, and food
• Any assets or savings you could use for a lump-sum offer
Once you have this data, calculate how much you can realistically afford to pay. This figure becomes your negotiating anchor. As Achieve’s debt relief resource explains, knowing your financial position clearly helps you decide whether to pursue a reduced payoff amount or simply lower monthly payments.
Additionally, check your credit report before calling. You can access free annual credit reports through AnnualCreditReport.com. Understanding how late your payments are and what your credit score looks like helps you anticipate the lender’s perspective.
Identify the Type of Hardship You Are Facing
Lenders are far more willing to negotiate when they believe you are genuinely struggling rather than simply choosing not to pay. Therefore, being honest and specific about your hardship is a key negotiation tool.
Common qualifying hardships include:
• Job loss or significant reduction in income
• Medical emergency or unexpected healthcare costs
• Divorce or separation affecting household income
• Natural disaster or major unexpected expense
• Death of a spouse or primary earner in the household
As Achieve notes, if you can demonstrate a genuine hardship, creditors may forgive part of your balance. Furthermore, your bargaining position may actually be stronger if you are already a few months behind on payments, since the lender then faces a real risk of receiving nothing.
Importantly, document your hardship wherever possible. A letter from an employer confirming layoffs, hospital bills, or divorce papers can support your case. Consequently, lenders tend to take documented hardship more seriously than vague claims of financial difficulty.
Know Your Four Main Negotiation Options
Before you call your card issuer, you should decide which type of arrangement makes the most sense for your situation. There are four primary options to consider, and each suits different circumstances.
The following table summarises the four main negotiation approaches:
| Option | What It Involves | Best For |
| Lump-Sum Settlement | Pay a reduced amount in one payment to close the account | Those with savings or access to funds |
| Workout Agreement | Restructure monthly payments at a lower rate | Steady income but struggling with current terms |
| Hardship Program | Temporary relief: lower payments or paused interest | Short-term financial crisis expected to improve |
| Interest Rate Reduction | Request a lower APR without changing the balance | Good payment history with one difficult period |
According to Bankrate’s negotiation guide, deciding which option fits your circumstances before you call puts you in a much stronger position. Furthermore, it prevents you from being talked into a deal that does not actually help your situation.
Lump-Sum Settlement
A lump-sum settlement involves offering your creditor a single payment that is less than your total balance. In exchange, the creditor agrees to consider the debt resolved. Card companies often accept between 40% and 60% of the outstanding balance, though terms vary widely.
This option works best if you have access to a lump sum through savings, a family loan, or a tax refund. Crucially, make sure any settlement agreement is confirmed in writing before you send any money.
Workout Agreement
A workout agreement restructures your debt repayment over a set period. Typically, the issuer reduces your interest rate, waives certain fees, and sets up a fixed monthly payment. This approach suits borrowers who have a steady income but genuinely cannot manage current terms.
Workout agreements usually last between 12 and 60 months. During this period, your account is typically closed or frozen, so you cannot make new purchases. Nevertheless, the structured repayment helps you make real progress on the principal.
Hardship Programs
Most major card issuers offer formal hardship programs for customers facing temporary difficulties. These programs often include reduced interest rates, waived late fees, and lower minimum payments for a defined period.
Importantly, hardship programs are designed to be temporary. Once your financial situation stabilises, your account typically returns to its standard terms. The Consumer Financial Protection Bureau (CFPB) recommends exploring these programs before considering more drastic options like bankruptcy.
Interest Rate Reduction
Simply asking for a lower interest rate is sometimes all it takes. If you have a solid payment history and have been a loyal customer, many issuers are willing to lower your APR, especially if you mention competing offers from other lenders.
Even a reduction of three to five percentage points on a large balance can save you hundreds or thousands of dollars over the repayment period. Therefore, this simple call is often worth making even if your situation is not a full-blown crisis.
How to Prepare for the Negotiation Call
Preparation separates a successful negotiation from a frustrating one. The more organised you are, the more confident you will sound, and confidence matters when dealing with a trained call centre representative.
Here is what to do before you dial:
• Write down your account number, current balance, and APR
• Prepare a brief, factual summary of your financial hardship
• Decide on your ideal outcome and your minimum acceptable terms
• Have a pen and paper or a notes app ready to record details
• Find a quiet space so you can focus on the conversation
• Check if your state requires two-party consent before recording calls, as Bankrate
As Bankrate advises, confirming your balance and current interest rate before the call is a smart first step. This prevents any confusion about the numbers during the negotiation itself.
Additionally, think about your opening statement. You want to be clear and direct. Starting with something like ‘I am calling because I am experiencing financial hardship and I would like to discuss options for my account’ signals your purpose without being confrontational.
Step-by-Step: How to Make the Call
Making the actual negotiation call can feel intimidating. However, following a clear process reduces anxiety and improves your chances of a good outcome. Here is how to approach it from start to finish.
Step 1: Call the Number on the Back of Your Card
Start by calling the customer service number on the back of your card. Explain that you need to speak with someone in the hardship or account resolution department. Standard customer service agents often cannot offer the deals that specialist teams can.
Be patient during hold times. Equally, remain calm and polite throughout, even if you are transferred multiple times. Politeness tends to produce better outcomes than frustration.
Step 2: Ask to Speak With a Supervisor if Needed
If the first representative cannot offer meaningful help, politely ask to speak with a supervisor or a specialist in debt resolution. According to Bankrate, you should not hesitate to call back multiple times if you are unhappy with the initial terms.
Step 3: State Your Situation Clearly
Explain your hardship factually and concisely. Avoid lengthy emotional appeals, and instead focus on the financial facts. Mention your hardship, your current income, and what you can reasonably afford to pay. As LLCU’s negotiation guide explains, making your expectations clear upfront prevents confusion and keeps the conversation focused.
Step 4: Present Your Proposed Terms
State what you are asking for specifically. Whether that is a reduced lump-sum settlement, a lower monthly payment, a temporary interest rate cut, or enrollment in a hardship program, name it clearly. Vague requests produce vague responses.
Step 5: Negotiate Patiently
The lender may counter with different terms. Listen carefully, and do not feel pressured to accept immediately. Take notes on everything they offer. If the first offer is not workable, explain why and suggest an alternative.
Furthermore, silence can be a powerful tool. After stating your offer, pause and let the representative respond. Rushing to fill the silence often leads to accepting terms that are not ideal.
Step 6: Get Everything in Writing
Once you reach an agreement, insist on written confirmation before making any payment. This is non-negotiable. As Bankrate strongly advises, you do not have a deal until it is documented in writing. A verbal promise is not enforceable.
Request the written agreement via email or postal mail. Review it carefully before signing or sending payment. Make sure it confirms the settled amount, the payment deadline, and the status the account will reflect on your credit report afterwards.
What to Do After Reaching a Settlement Agreement
Reaching an agreement is a significant achievement, but the process is not over yet. How you manage the settlement afterwards is just as important as the negotiation itself.
First, pay exactly the agreed amount by the specified deadline. Late or incorrect payments can void the agreement entirely, leaving you back at square one with the original balance reinstated. According to Achieve, sticking to your repayment terms is essential for the deal to hold.
Second, keep all documentation permanently. Store the written agreement, your payment confirmation, and any correspondence in a safe place. Debt sold to collections agencies has been known to reappear years later; having documentation protects you.
Third, monitor your credit report after the settlement is processed. The account should reflect the agreed status, such as ‘settled in full’ or ‘paid in full.’ If the reporting is incorrect, file a dispute with the relevant credit bureau through Experian, Equifax, or TransUnion.
Understanding the Tax Implications of Debt Settlement
Many people overlook the tax consequences of settling credit card debt for less than the full balance. However, this oversight can lead to a surprise bill at tax time.
When a creditor forgives a portion of your debt, the forgiven amount is generally treated as taxable income by the IRS. For example, if you owed $10,000 and settled for $5,000, the $5,000 forgiven may be reported on a Form 1099-C as cancellation of debt income. Consequently, you would need to include this amount in your federal tax return for that year.
There are exceptions. If you are insolvent at the time of the settlement, meaning your total liabilities exceed your total assets, you may be able to exclude some or all of the forgiven amount from your taxable income. Consult the IRS Publication 4681 for detailed rules on cancelled debt and insolvency.
Furthermore, speaking with a certified public accountant (CPA) before finalising any settlement agreement is strongly recommended. A tax professional can help you anticipate and plan for any tax liability that may arise from the deal.
Strategies to Pay Down Credit Card Debt Faster
Negotiating better terms is only one part of the solution. Additionally, adopting a focused debt repayment strategy can dramatically shorten the time it takes to become debt-free. Two of the most well-known methods are the avalanche and snowball approaches.
The Debt Avalanche Method
The debt avalanche method involves paying the minimum on all cards except the one with the highest interest rate. You direct every extra dollar toward that high-rate account. Once it is paid off, you roll that payment amount onto the next highest-rate card.
This approach saves the most money on interest overall. Therefore, it is often the mathematically optimal strategy for anyone with multiple balances. The Consumer Financial Protection Bureau provides a helpful comparison of debt repayment strategies.
The Debt Snowball Method
Alternatively, the snowball method targets the smallest balance first, regardless of interest rate. You pay minimums on everything else and throw maximum payments at the smallest debt. Once that account is cleared, you add its payment to the next smallest balance.
As Baird Wealth explains, this approach is perfect for those who are motivated by small wins. Each cleared account boosts morale and reinforces the habit of disciplined payment.
Balance Transfers
A balance transfer card can be another powerful tool. These cards offer a 0% introductory APR period, typically lasting between 12 and 21 months, during which no interest accrues on transferred balances. Moving high-interest debt to such a card lets you pay purely toward the principal.
However, Bankrate warns that qualifying for a good balance transfer card usually requires good to excellent credit. Additionally, most cards charge a balance transfer fee of 3% to 5%, which should factor into your calculations. Tools like NerdWallet’s balance transfer calculator can help you determine whether a transfer makes financial sense.
Personal Debt Consolidation Loans
Another option worth exploring is a personal loan used to consolidate card debt. As Baird Wealth notes, consolidating revolving debt into an instalment loan can lower your interest rate and may even improve your credit score by changing your debt mix.
Lenders like LightStream, SoFi, andMarcus by Goldman Sachs offer personal loans designed specifically for debt consolidation. Comparing rates from multiple providers before committing ensures you get the best available terms.
Comparing Debt Repayment Strategies at a Glance
The table below compares the major debt payoff strategies to help you choose the best fit for your situation:
| Strategy | Interest Saved | Motivation Factor | Best Suited For |
| Debt Avalanche | Highest | Moderate | Mathematically-minded borrowers |
| Debt Snowball | Moderate | High | Motivation-driven borrowers |
| Balance Transfer | High (during 0% period) | Moderate | Good credit, disciplined payers |
| Personal Loan Consolidation | Variable | Moderate | Multiple high-rate balances |
| Debt Settlement Negotiation | Variable | High | Severe hardship situations |
Should You Use a Debt Settlement Company?
Debt settlement companies promise to negotiate on your behalf in exchange for a fee, typically 15% to 25% of the enrolled debt. Before hiring one, it pays to understand both the potential benefits and the considerable risks involved.
Potential Benefits
A reputable debt settlement company can handle complex negotiations, especially when you owe multiple creditors. They bring experience and established relationships with certain lenders. Furthermore, outsourcing the process reduces the emotional stress of direct negotiation.
Significant Risks to Consider
However, the risks are substantial. Many settlement companies instruct clients to stop making payments entirely, which damages credit scores severely and may trigger lawsuits from creditors. Additionally, fees can eat significantly into the savings you achieve.
The Federal Trade Commission (FTC) warns consumers to be cautious when dealing with debt settlement companies. The FTC also prohibits upfront fees, meaning legitimate companies can only charge after a successful settlement is reached.
Before hiring any settlement firm, verify their credentials through the American Fair Credit Council (AFCC) or check their record with the Better Business Bureau (BBB). In many cases, negotiating directly with your card issuer produces equally good or better results at no cost.
How Debt Negotiation Affects Your Credit Score
One of the most common concerns about debt negotiation is its impact on your credit score. The honest answer is that it depends on which type of negotiation you pursue and how the account is reported afterwards.
Hardship Programs and Interest Rate Reductions
Enrolling in a hardship program or simply securing a lower interest rate typically has minimal direct impact on your credit score. Your account remains open and in good standing, provided you meet the new payment terms. Over time, consistent on-time payments may actually improve your score.
Debt Settlement
Settling a debt for less than the full balance is more likely to affect your credit negatively. The account will usually be marked as ‘settled’ rather than ‘paid in full,’ and that notation can remain on your credit report for up to seven years. Additionally, any missed payments during the negotiation process also affect your score.
Nevertheless, the impact of a settlement is far less severe than a bankruptcy filing, which remains on your credit report for seven to ten years. According to Experian’s credit education centre, rebuilding credit after a settlement is entirely achievable with responsible financial habits over time.
Steps to Rebuild After Negotiation
• Pay all remaining bills on time, without exception
• Keep credit utilisation below 30% on any remaining open cards
• Consider a secured credit card to begin rebuilding a positive track record
• Monitor your credit report regularly through Credit Karma or AnnualCreditReport.com
• Avoid applying for multiple new credit accounts in a short period
Red Flags: Mistakes to Avoid During Negotiation
Even well-intentioned negotiations can go wrong. Being aware of common mistakes helps you sidestep pitfalls that can make your situation worse rather than better.
Agreeing Verbally Without Written Confirmation
This is arguably the most damaging mistake. Verbal agreements are not binding. Always wait for written confirmation before sending any payment. Without documentation, you have no proof of the terms you agreed to.
Paying More Than You Can Afford
In the excitement of reaching a deal, some people overcommit financially. If you cannot sustain the agreed payment schedule, the deal may collapse, and your situation worsens. Set terms you are completely confident you can meet.
Ignoring the Statute of Limitations
Old debt has a statute of limitations, after which creditors generally cannot sue you to collect it. Making even a small payment on old debt can restart this clock in some states. Check your state’s rules through NOLO’s debt statute of limitations guide before engaging with aged accounts.
Failing to Disclose All Relevant Financial Information
Trying to hide assets or income from a creditor during negotiation is not only counterproductive but potentially illegal in certain circumstances. Honesty builds trust and generally leads to better outcomes. Creditors who discover misleading information may withdraw any offer entirely.
Not Considering Professional Help When Needed
Sometimes a financial situation is too complex to handle alone. Nonprofit credit counselling agencies, such as those affiliated with the National Foundation for Credit Counselling (NFCC), offer free or low-cost guidance. These agencies can help you explore all options systematically before committing to any course of action.
Using Non-Profit Credit Counselling Services
Non-profit credit counselling is often one of the most underused resources available to people in debt. These organisations provide objective, professional advice at little or no cost. They can also administer Debt Management Plans (DMPs), which consolidate multiple card payments into one affordable monthly amount.
Under a DMP, the counselling agency negotiates directly with your creditors on your behalf to reduce interest rates and waive fees. Subsequently, you make a single monthly payment to the agency, which distributes it to your creditors. Most DMPs last between three and five years and typically have a modest monthly fee.
To find a legitimate non-profit counsellor, look for agencies accredited by the NFCC or the Financial Counselling Association of America (FCAA). Both organisations maintain directories of accredited members. Avoid for-profit ‘credit repair’ companies that promise dramatic results for large upfront fees.
Additionally, the CFPB’s guide to credit counselling offers clear guidance on what to expect from a reputable credit counsellor and how to spot misleading services.
When Bankruptcy Becomes the Right Choice
While this guide focuses on negotiation, it is important to address bankruptcy as a legitimate option for some borrowers. Bankruptcy is not a failure; it is a legal process designed to give people a fresh start when debt becomes genuinely unmanageable.
Chapter 7 bankruptcy, sometimes called liquidation bankruptcy, can discharge most unsecured debt, including credit card balances. Chapter 13 involves a court-approved repayment plan over three to five years. Both types have lasting credit implications, but can provide genuine relief when no other option is viable.
Consult a qualified bankruptcy attorney if your total unsecured debt exceeds your annual income, you are being sued by creditors, or wages are being garnished. The American Bar Association’s legal help finder can connect you with qualified attorneys in your area. Many offer free initial consultations.
Importantly, Chase Bank’s guidance on debt negotiation notes that successful negotiation can specifically help you avoid the severe consequences of default or bankruptcy. Therefore, it is always worth exhausting negotiation options before taking that final step.
Sample Scripts: What to Say When You Call
Having a script reduces anxiety and ensures you cover the key points. These examples are starting points you can adapt to your specific situation.
Opening Statement for a Hardship Program
‘Hello, my name is [your name], and I am calling about account number [XXXX]. I have been a customer for [X] years. Unfortunately, I am currently experiencing a financial hardship due to [brief reason: e.g., job loss or medical bills]. I would like to speak with someone in your hardship assistance or account resolution department to discuss my options.’
Requesting a Lower Interest Rate
‘I have been managing my account responsibly for several years. However, the current APR of [X]% is making it difficult to reduce my balance. I would like to request a rate reduction. I have received offers from other lenders at [lower rate], and I would prefer to stay with your company if we can reach a comparable rate.’
Proposing a Lump-Sum Settlement
‘I am currently unable to pay the full balance of [amount]. However, I can offer a one-time lump-sum payment of [lower amount], which is [percentage]% of the outstanding balance. In return, I am asking that the account be marked as settled in full and that no further collection activity take place.’
These are starting points only. Your actual conversation will evolve based on the lender’s responses. Nevertheless, knowing your talking points in advance ensures you stay composed and on track throughout the call.
Tools and Resources to Help You Manage Credit Card Debt
Beyond direct negotiation, a range of free and paid tools can help you take control of your debt and build a sustainable repayment plan.
Budgeting and Tracking Apps
Apps like YNAB (You Need A Budget), Mint, and PocketGuard help you track spending, identify savings opportunities, and allocate extra funds toward debt repayment. Regular use of a budgeting app often reveals previously unnoticed spending patterns that free up significant cash.
Credit Score Monitoring
Keeping a close eye on your credit score throughout the negotiation process is important. Free monitoring tools such as Credit Karma and Credit Sesame provide regular updates and alert you to significant changes. Additionally, Experian’s free credit monitoring offers alerts when new accounts or inquiries appear on your report.
Debt Payoff Calculators
Several free calculators can model different payoff scenarios for you. Bankrate’s debt payoff calculator lets you compare the avalanche and snowball methods side by side. Similarly, NerdWallet’s debt calculator shows you exactly how long repayment will take under different scenarios.
Government and Non-Profit Resources
• USA.gov debt management resources
• NFCC credit counselling directory
• IRS cancelled the debt tax guide
Building Long-Term Financial Resilience After Debt
Resolving your credit card debt is a major achievement. However, the final and arguably most important step is making sure you do not end up in the same situation again. Building genuine financial resilience requires consistent habits and a realistic long-term plan.
Create and Stick to a Budget
A realistic monthly budget is the foundation of financial health. Start by listing all income sources and all fixed expenses. Then allocate a specific amount to variable expenses like groceries, entertainment, and clothing. Any remaining amount should go toward savings or debt prevention.
Resources like the 50/30/20 rule from Investopedia provide a simple framework: 50% of take-home income for needs, 30% for wants, and 20% for savings and debt repayment.
Build an Emergency Fund
Many people land in credit card debt after an unexpected expense they had no savings to cover. Therefore, building even a small emergency fund is one of the most effective ways to prevent future debt accumulation. Aim for three to six months of essential expenses in a dedicated savings account.
High-yield savings accounts from providers like Marcus by Goldman Sachs or Ally Bank offer competitive rates that help your emergency fund grow faster than a traditional savings account.
Use Credit Cards Strategically
Credit cards are not inherently problematic. Used strategically, they offer rewards, purchase protection, and credit score benefits. The key is paying the full balance every month to avoid interest charges entirely.
If carrying a balance is necessary, choose cards with the lowest available APR rather than those with the most rewards. The CFPB’s credit card comparison tool lets you compare cards from dozens of issuers side by side, filtering by APR, fees, and features.
Review Your Credit Report Annually
Errors on credit reports are more common than most people realise. Inaccurate late payment records, duplicate accounts, or debts that were already settled but show as outstanding can all drag down your credit score unnecessarily.
Under the Fair Credit Reporting Act, you are entitled to one free credit report per year from each of the three major bureaus through AnnualCreditReport.com. Review each report carefully and dispute any errors directly with the relevant bureau.
Frequently Asked Questions About Credit Card Debt Negotiation
Below are answers to the most common questions people have about negotiating credit card debt:
| Question | Answer |
| Can I negotiate credit card debt myself? | Yes. You do not need a professional. Many issuers deal directly with customers and may prefer it over third-party involvement. |
| How much can I realistically settle for? | Typically, 40% to 60% of the balance, though this varies widely based on your account history and the lender’s policies. |
| Will negotiation hurt my credit score? | It depends on the type. Hardship programs rarely impact your score. Debt settlements can reduce it temporarily. |
| How long does a settled debt stay on my report? | Up to seven years from the date of first delinquency, regardless of when it was settled. |
| What if the card has already gone to collections? | You can still negotiate with the collections agency, often at an even greater discount, but verify the debt is valid first. |
| Do I owe taxes on forgiven debt? | Generally yes. The IRS may treat forgiven amounts as taxable income. Check IRS Publication 4681 for exceptions. |
Spend some time on your future.
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Disclaimer
This article is for informational purposes only and does not constitute financial, legal, or tax advice. Individual circumstances vary significantly, and the information presented here may not apply to your specific situation. Always consult a qualified financial advisor, attorney, or tax professional before making decisions about debt settlement or any other financial matter. The author and publisher accept no liability for actions taken based on the information provided in this article.
References
[1] Bankrate. ‘How To Negotiate Debt With Credit Card Companies.’ Available: https://www.bankrate.com/credit-cards/advice/how-to-negotiate-with-credit-card-companies/
[2] Chase Bank. ‘Negotiating Credit Card Debt: What You Should Know.’ Available: https://www.chase.com/personal/credit-cards/education/basics/negotiating-credit-card-debt
[3] Achieve. ‘How to Negotiate With Creditors Yourself.’ Available: https://www.achieve.com/learn/debt-relief/how-to-negotiate-with-creditors
[4] Baird Wealth. ‘5 Strategies for Paying Off Credit Card Debt.’ Available: https://www.bairdwealth.com/insights/wealth-management-perspectives/2022/08/5-strategies-for-paying-off-credit-card-debt/
[5] LLCU. ‘How to Effectively Negotiate With Your Credit Card Company.’ Available: https://www.llcu.org/Blog/Posts/197/Education/2025/7/How-to-effectively-negotiate-with-your-credit-card-company/blog-post/
[6] Consumer Financial Protection Bureau. ‘Credit Card Tools and Resources.’ Available: https://www.consumerfinance.gov/consumer-tools/credit-cards/
[7] Federal Trade Commission. ‘Debt Relief and Credit Repair.’ Available: https://www.ftc.gov/news-events/topics/credit-debt/debt-relief
[8] Internal Revenue Service. ‘Publication 4681: Cancelled Debts, Foreclosures, Repossessions, and Abandonments.’ Available: https://www.irs.gov/forms-pubs/about-publication-4681
[9] National Foundation for Credit Counselling. ‘Find a Counsellor’ Available:https://www.nfcc.org
[10] Experian. ‘Credit Education: Understanding Your Credit Report.’ Available:https://www.experian.com/blogs/ask-experian/credit-education/
