It's not my fault. That's what we all say.

Too much debt? It's not my fault the bank made a sub-prime loan to me based on my credit rating. It's not my fault that the credit card company issued a card to me with my 560 FICO. It's not my fault because they knew I only brought home $2000/month. It's not my fault that I signed all the paperwork knowing what would happen when I couldn't pay back all the money I was borrowing.

Actually it is. No one made you sign that mortgage with the adjustable rate. Or mail in the credit card application. Or sign the car note for the brand new car when an older model would have worked. Yes, it's true that an institution used predatory policies against you with your knowledge and consent. That's why your credit is taking a hit now. That's why your home is one missed payment from foreclosure. That's why you park your car in the neighbor's garage so the repo man won't find it.

I'm not saying I approve of predatory lending policies because I definately do not. I think it's disgusting how these places target the very people who are struggling to make things right, clean up their past and prove their future. I think it's disgusting how credit card companies whore themselves out on college campuses, promising a t-shirt or pizza in order to get an unemployed student to apply for a pre-approved card. I abhore title loan companies and payday loan companies, many of whom are owned by the very banks who would laugh at you if you applied for any sort of credit through their pristine institutions.

HOWEVER...the bottom line is you are still the one in control of your actions. You agreed to the terms. It is your job to pay it back. If you can negotiate a lower rate of interest or payment I say go for it. If you can get them to reduce the total for a one time payment then do it. But you still need to pay it.