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IceCreamforLunch t1_jefpxv6 wrote

>Is it ever a good idea to just cancel the cards and set up new payment plans without payments until I get my head above water

The credit card company isn't going to be OK with you just not making any payments for a while regardless of whether or not you cancel the card.

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Jomurphy27 t1_jefq81v wrote

I mistyped, it should have said "lower" payments not without. I was given the option to cancel a card and have the payment lowered and the term extended

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IceCreamforLunch t1_jefqd33 wrote

What is the current interest rate and what would be the interest rate if you canceled it and turned it into a closed-end loan?

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