I have a few cards with large balances and over the past year I have been making the minimum payments and while a bunch of them have been late, none of the accounts have reached collection companies.Â I would like to stop making the minimumÂ monthly payments and make lump sum payments to pay off the remaining balances however I don't have all the money needed.Â I have read in different places that collections companies wouldÂ be willing to negotiateÂ for a lump sum payment,Â but since my accounts have yet to reach the collection companies, I am wondering if the credit card companies themselves would be willing to settle with me in the same manner.
Please share your opinions and advice.
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