You owe a debt to your creditor and you are looking for successful ways in making a good settlement proposals. Here are some tips on how to work out a good deal with your creditors.

Calling your creditors at a good time: Calling your credit card company in the early morning hours will be a good time to talk. Usually, we all seem to be fresh in the first hour at work. Its the same with the credit card companies and they are willing to help. If you call them at the busy hours or at the end of the day, chances are that they may be tired and cranky. They don’t want to listen.

Talk to your creditor and explain them that you will pay your debt: Many a times, these creditors often talk with those people who use all their dirty tricks to run away from their debts. You do not want to be put in the same category. Tell them that you have all intentions to pay your past dues but you need some time and work out a lower repayment plan. If you talk with them nicely, you will be surprised to see how pleasing your creditors can be.

Take advantage of calling your creditors for the first time: If you are calling your credit card company for the first time, request them to waive off the late fees and lower the interest rate. These companies are usually more generous to people who are first time offenders than those asking for extensions on a regular basis.

Show your loyalty to the credit card companies: If you are in business with your credit card company for a long time and have been spending a lot on your credit card, this is the time to show your loyalty to these companies. When they figure out that you have been such a loyal customer to them for the past so many years, they will be willing to renegotiate your credit card debt because they don’t want to lose you.

Asking for a lower interest rate: Many people are not aware that you can negotiate with the credit card companies for a lower interest rate. If your payment history is good, then you can easily ask the company to lower the interest rate. Tell them that you are willing to pay more towards the principal in the future so that the debt can be paid off much faster.

Getting the late fees waived off: This is a very good bargaining trick. Usually the late payment fees can be waived off if you settle the bill within a short period of the due date. Call your creditor because its worth a shot.

Requesting in advance about missing a payment: If you are expecting some genuine personal problems, then it will be a good idea to call your creditor and let them know in advance that you are going to miss a payment or two. They will be willing to hear you and work on your terms. Keep in mind that by missing a payment or two will have a negative impact on your credit scores.

Speak to the decision maker: When you want to talk with someone in the credit card company, make sure that you talk with the one who is the in charge and holds an important designation in the company. When you call the credit card company for the first time, the call will be routed towards some representative. Tell them that you want to talk with the manager or the supervisor who is able to make instant decisions. Make sure that you keep a note of all people you spoke with and their contact details.