I-Team: Simple steps, big savings in debt consolidation - Fox 2 News Headlines

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

Posted: Updated:

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

  • I-Team Story ArchiveMore>>

  • Ray McBerry ex-employee speaks

    Ray McBerry ex-employee speaks

    Wednesday, July 30 2014 11:02 PM EDT2014-07-31 03:02:51 GMT
    A second young woman filed a Henry County police complaint accusing former gubernatorial candidate Ray McBerry of some bizarre behavior.
    A second young woman filed a Henry County police complaint accusing former gubernatorial candidate Ray McBerry of some bizarre behavior.
  • Mom confronts Ray McBerry over modeling request

    Mom confronts Ray McBerry over modeling request

    Wednesday, July 30 2014 12:04 PM EDT2014-07-30 16:04:32 GMT
    A twice-failed candidate for Georgia governor found himself face-to-face with a mother furious over what he was trying to do this month with her teenage daughter.
    A twice-failed candidate for Georgia governor found himself face-to-face with a mother furious over what he was trying to do this month with her teenage daughter.
  • Does social media make you spend more money?

    Does social media make you spend more money?

    Wednesday, July 30 2014 8:49 AM EDT2014-07-30 12:49:39 GMT
    The notion of 'Keeping up with the Jones' is not new, but there is a new pressure coming at you. Peer pressure - whether you're 13 or 33 - is a powerful thing. Now throw in social media and you have what an Atlanta counselor calls 'Keeping up with the Jones' on steroids. And if you're not careful that can get costly.
    The notion of 'Keeping up with the Jones' is not new, but there is a new pressure coming at you. Peer pressure - whether you're 13 or 33 - is a powerful thing. Now throw in social media and you have what an Atlanta counselor calls 'Keeping up with the Jones' on steroids. And if you're not careful that can get costly.
  • Contact the FOX 5 I-Team

    * denotes required fields

    We're sorry, but only one entry is allowed per person.
    Thank you for your continued interest.

    Thanks for contacting FOX 5.  To reach our newsroom by phone, please call (404) 898-0100.

  • Good Day ArchiveMore>>

  • Back to School Jamboree with Hosea Feed The Hungry

    Back to School Jamboree with Hosea Feed The Hungry

    Hosea Feed the Hungry will host their annual Back to School Jamboree on Sunday, July 13, 2014 from 10:00 a.m. until 3:00 p.m. at Turner Field. Children will receive a backpack filled with school supplies.

    Hosea Feed the Hungry will host their annual Back to School Jamboree on Sunday, July 13, 2014 from 10:00 a.m. until 3:00 p.m. at Turner Field. Children will receive a backpack filled with school supplies.

  • Local Companies Partner To Make "Green" Beer

    Local Companies Partner To Make "Green" Beer

    Friday, August 1 2014 9:39 AM EDT2014-08-01 13:39:03 GMT
    Since it seems like there's a day for everything, get this -- today is "International Beer Day!"  And one local brewing company is celebrating
    Since it seems like there's a day for everything, get this -- today is "International Beer Day!"
  • MKTO visits Good Day Atlanta

    MKTO visits Good Day Atlanta

    Friday, August 1 2014 9:29 AM EDT2014-08-01 13:29:40 GMT
    Music sensation MKTO stops by Good Day Atlanta to talk new music and upcoming shows!
    Music sensation MKTO stops by Good Day Atlanta to talk new music and upcoming shows!
Powered by WorldNow

WJBK-TV | Fox 2
16550 West Nine Mile Rd.
Southfield, MI 48075

Main Station: (248) 557-2000
Newsroom: (248) 552-5103

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices