It is tough enough to try and maintain payments with 8% or even the 7.9 % interest that they are charging on your accounts. How are you suppose to come up with the money for the new payments now? It was cumbersome enough to manage before the interest was raised. This is why many Americans are searching for other options such as credit card debt settlement vs. credit counseling, or bankruptcy. If you do not know much about these options then I will offer you a little information on them.