About a year ago we ran in to some financial difficulty and I contacted Square One who advised me they could settle my debt for pennies on the dollar. (you've heard those commercials) I decided not to go that route because they wanted hundreds of dollars to handle my accounts and told me to ignore all the calls from collectors so the debts would be sold and square one could negotiate to settle the debt. It would also ruin your credit beyond repair and there is no guarantee you won't be taken to court for ignoring the debt. They gave me alot of bad advice.
Another credit company - non profit advised us to file bankruptsy, and told me everything square one had told me was not good for anyone accept them. We decided we really would prefer to pay our debt that use either of these methods - its just the right thing to do.
I contacted walmart and told them about our sitaution and they set us up on a payment plan and halted all interest / finance charges. We now make $50 a month payments and although there is $20 - $30 interested posted to our account everymonth, that is reversed on each statement we receieve. This agreement is set until our account is paid in full.
I continue to shop at walmart and appreciate their willingness to help us pay our account in full with no finance charges.
Product or Service Mentioned: Walmart Credit Card.