A little sacrifice now, particularly when undertaken at the low point in the interest-rate cycle, can have lasting rewards in managing and repaying debt. Now is the time to employ a measure of financial discipline platinummastercards to make a dent in that debt load. Make the call. A five-minute phone call to your credit account issuer could save you hundreds, even thousands, of dollars in interest platinummastercards charges. There''s no incentive for them to lower your rate unless you call. The squeaky wheel gets the oil,"a consumer advocate Not convinced that a card company will give you a lower interest rate just platinummastercards because you call and ask nicely? Check out the results of a recent, national survey by the U.S. Public Interest Research Group. Fifty consumers of all credit backgrounds called credit account issuers and asked for lower rates. More than half, 56 percent, scored lower rates. How low did the rates go?

According to a recent article written by and that was reprinted in a publication many firms, including those that aggressively advertise on TV, charge excessive fees and get bonuses from credit account companies for every client referral. platinummastercards Such firms may be legally structured as nonprofits by taking advantage of legal loopholes but their business practices are highly suspect. Large amounts of money collected from their services platinummastercards end up in the pockets of their executives. Executive compensation includes salaries, bonuses, and real-estate deals. A reputable credit counseling service should not depend on fees for more than 60% to 80% of its income and should also rely on grants and charitable donations. It should charge a maximum of $25 in monthly client fees. Finally, a reputable service will also provide free counseling and may have up to half of its clients enrolled in counseling alone (instead of being enrolled in a debt repayment plan).

Whether or not a borrower has taken advantage of low rates by refinancing or jockeying into another lower-rate platinummastercards loan product within the past 17 months, the mandatory step of becoming debt-free entails debt repayment. Those borrowers with variable-rate debt, such as that found on credit accounts or home equity lines of credit, will find that their efforts to pay down debt are more effective now when rates are low. This effectiveness will diminish platinummastercards notably several months or one year from now when rates have begun their inevitable march higher. OK, so what about those who do not receive a tax refund? Scrimp. Save. Moonlight. platinummastercards A good spring cleaning will no doubt produce a fair number of items that somebody else would gladly, or foolishly, pay money to acquire. Investing a few hours to promote and hold a yard sale can yield a tidy sum to be earmarked for debt repayment.

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