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I want to lower my 30% APR on my unsecured credits cards and expedite payment of my credit card debts; but I am told by the banks that they will go as low as 6% for 12 months or 0% for 5 years, so long as I agree to enter into a one of these payment arrangements and close my credit card accounts - How will entering into ashort- or long-term payment arrangement and closing my credit card accounts impact my credit score? Also, in this case, is the account being technically closed by me or by the bank? Does that distinction matter?
Have you defaulted on any of them? A payment plan will be a negative entry.