I am 80 years old.I have let myself get deep in credit card debt.My house is paid for.I owe 20.000 MasterCard and 25,000 American Express.I am paying the monthly payment s on both of them.Will the credit Card companies ever forgive the interest or is there anything I can do?

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I am so sorry about your situation. That is a heavy load. Only a few things to suggest would be first, do you have any reasonable expectation of being able to pay them off? If you have been a good customer for years, perhaps calling them and asking them to drop their interest rates could be doable. If there's anything you bought with the credit cards that you can return/sell, now is the time to do it. I wouldn't worry about bankruptcy really because at this age, it's probably not necessary. There's no wages to garnish, although it will mean less out of your estate for any heirs as the creditors will have first claim on that, if that's a concern for you at all. I hope you're able to find a solution.

@Herdercine Nash I am sorry that you are so far in debt. It's true that bankruptcy wouldn't be the answer at this point. There are some good reputable consumer agencies out there that will work with you on reducing your credit. I've seen one on the television several times. I believe it is Credit Associates. There are some acquaintances that are in their 60's and 70's who had their amounts due dramatically dropped, as well as the interest rates lowered. They were totally out of debt in less than 3 years if I'm not mistaken, and the payments each month were quite low and allowed the people to recover. If you're not sure that you want to do that, I would recommend speaking to reputable attorney on options. But, I do agree with @LEIGHOFMAR, you could try calling and negotiating a lower rate yourself. I truly hope that helps and that you can navigate your way through this.

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