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I believe so ... used this avenue once a very long time ago. The interest rate was negotiated to like 11% instead of having to shell out 32% monthly. Payments then go to the debt management company who disburse the funds to the CC company. Usually a nominal fee is added to the payments to pay for the extra processing, etc.

Not all of them accept debt management programs. Call up the card and tell them that you are having financial problems. Maybe they have their own system to pay down the balance.

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Q: Do credit card companies have to accept debt management programs?
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