Being in debt can feel like having a heavy weight chained to your foot, dragging you below the surface and drowning you in unpaid bills and a deteriorating credit score. Here are 5 smart moves to unchain yourself from that debt without resorting to credit counseling.
Move #1: Ask your credit card company for a lower rate: Your credit card company wants to keep your business. After all, if you carry with them a large balance at a high interest rate, you are paying them a hefty fee every month. Try calling them and asking them to reduce your rate, explaining that you have received lower-interest offers from other companies and that you are considering transferring your balances away unless they can match those lower rates. Believe me, your credit card company would rather keep some of that income than have it reduced to zero. Remember, there is no need to get nasty or threatening with them. Just be matter of fact about it and see what happens. If they refuse, go ahead and apply to other, lower-interest cards.
Move #2: Improve your credit score: A 50-point improvement in your credit score can save you $1000s per year in debt payments by making you eligible for lower...
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