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Lessons Learned From the Pay Down Your Debt Challenge

The Money Coach, AARP members share best advice

  • Challenge: Negotiating with creditors

    “One winter, our monthly electric bill was averaging $400. By the time spring came around, we were about $900 past due. Customer service told us that we could have that amount divided into 8 payments that could be paid on top of our next 8 monthly payments. ... We tried that principle with everybody we were behind with. It worked with our personal loans, hospital bills and even our second mortgage.” — trinityschild7
    “Sometimes, successful negotiations require several rounds of talks and multiple requests. And even if you still wind up getting a ‘no,’ you're better off for having tried and gotten a bit more of negotiating experience (which is often uncomfortable for most people) under your belt.” — the Money Coach

      — Photo by Getty Images

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