Why do creditors agree to lower monthly payments?
A. Creditors agree to lower your monthly payment when you are working through Myfcdc.org because you are, in fact, trying to pay your debts. Your creditors lose money if you default on your loan or file bankruptcy. If they compromise and accept lower interest, it is much more likely that they will be able to collect more of what is owed. Myfcdc.org works with counseling offices that have an excellent working relationship with your creditors and because of that relationship, is able to work out an easily affordable credit card management plan.
