I-Team: Simple steps, big savings in debt consolidation - New York News

I-Team: Simple steps, big savings in debt consolidation

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Wouldn't it be nice to manage some of your debt a little better? There are a few ways to do it.
 
Are you in debt trouble or just interested in getting rid of the debt you have more quickly?
 
CredAbility, a non-profit debt management and credit counseling center, can provide some great ideas that won't ding your credit standing, but instead will improve it.
 
Do you have credit cards with high interest rates? If so, try to negotiate a better rate with the card issuer. Card companies want to keep your business, so CredAbility says ask for at least a two percent lower rate.
 
Get involved in a debt repayment plan. Find a non-profit group like CredAbility that will negotiate your rates down. You can then make a single payment to the agency that will then pay your creditors.
 
There are no quick fixes to bringing down debt, so don't fall for big promises from companies wanting to make money off of you.
 
You can also apply for a consumer loan. Get a loan and pay off your high interest card. Then you are just paying one bill, rather than several.
 
Don't use a consumer loan as an opportunity to start using your credit cards again. Put them away!
 
Finally, you can simply move the high rate balances to cards with a lower interest rate. Often when you do that there is bonus such as a window of zero percent interest before the lower rate kicks in.

More info:
CredAbility web site

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