8 Creative Ways to Shrink Your Credit Card Debt

3. Negotiate everything

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Everything is negotiable. You'd be surprised how much money you can save by haggling!

We tend to view things like utility bills, car payments and past-due bills as fixed amounts with no room for discussion. But everything is negotiable, and you'd be surprised how much money you can save by negotiating with your creditors and service providers.

Reach out to your mobile phone service provider and let them know you're considering switching to another, less expensive carrier. To avoid losing your business, they may inform you about discounts or packages that could cut your monthly bill.

The same holds true for car insurance, gas and electric, internet providers, and so on. Explore your options, negotiate and save.

While you're at it, ask if your credit card issuer will lower your rate.