I have 2 credit cards, Citibank and Amex, with a total balance of $19,000. I have never been late with a payment and have always paid more than the minimum. However, both cards have raised my interest rate (Citibank doubled!) and Citibank even decreased my limit. I ran into trouble with my mortgage company which affected my credit score. I'm sure that is part of the reason why both credit card companies increased my rates. My payments are now very expensive and I am barely making it.

Anyway, I put my house up for sale several months ago (couldn't afford it anymore) and it is finally under contract. Assuming everything falls into place, my house should be sold next month. I might be able to pay off all my credit card debt! However, I am wondering if it is possible to negotiate a better pay off amount. What do you suggest?

Possibly, but not likely without damage to your credit. I'm not aware of any creditor that will negotiate a payoff until the account is several months late.

I called AMEX regarding my account and asked them about a hardship program that they may have that would help me. They lowered my interest rate to 0% for 6 months with a payment 3 month payment of $40 and after the 6 months my interest rate will be 9% and I will just need to pay the monthly amt due and they reaged the account while in the hardship to current. I hope this helps

yes but how deep were you? how bad was your credit overall and how bad was this TL?

Most creditors will only allow hardship plans for those in the toughest shape or the most persistant, which were you?

radi8 is right, not likely availible for someone who has never been late. CC Co's don't "negotiate" payoff amounts cause you have a lump sum. You have to compell them to let go of their due, and getting a payoff won't do it.