How do you lower the interest rate charged to something more
reasonable??? Along with this, how do you lower the monthly payment
to something more manageable??
The best way to lower your rates is to make banks compete for your
business! Call you current banks and let them know that if they
don't give you reasonable rates you'll take your business somewhere
Keep low interest rate offers that you get in the mail so you have
more options and bargaining power.
You can lower your payments by paying the minimum but that will
increase the long-term cost of each debt. However, that's okay if
and when you have no choice. I would question someone making minimum
payments so they can go on vacation to Hawaii. :)