Consider consolidating your debts into a lower-interest loan. By presenting this option to creditors, you can leverage their willingness to negotiate, as they’d prefer to retain your business rather than losing you to another lender.

To negotiate a lower interest rate on debts, first, review your credit score and account history to show you're a responsible borrower. Then, contact your creditors directly, ideally the customer service or retention departments, and explain your situation. Emphasize your desire to pay off the debt and your strong payment history. Be polite but assertive, asking specifically for an interest rate reduction or other accommodations, like switching to a lower-rate product. If they resist, mention offers from competing creditors. Persistence helps, and you might also consider debt counseling for further assistance.