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

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>>

  • Get Financially Fit: A Step-By-Step Plan

    Get Financially Fit: A Step-By-Step Plan

    Monday, April 14 2014 9:15 AM EDT2014-04-14 13:15:13 GMT
    April is Financial Literacy Month, so it's time to think about getting financially fit.  Let's start with two questions. Do you know how much you spend each month?  How much of your check should you save?
    April is Financial Literacy Month, so it's time to think about getting financially fit.  Let's start with two questions:  Do you know how much you spend each month?  How much of your check should you save?
  • FOX 5 I-Team

    DON'T MISS: Tax Deductions and Credits

    DON'T MISS: Tax Deductions and Credits

    Friday, April 11 2014 8:48 AM EDT2014-04-11 12:48:55 GMT
    Let's finish up our tax time filing tips that we've offered this season with a quick look at deductions and credits too many folks forget.
    Let's finish up our tax time filing tips that we've offered this season with a quick look at deductions and credits too many folks forget.
  • FOX 5 I-Team

    IRS: Two Scam Warnings

    IRS: Two Scam Warnings

    Monday, April 7 2014 10:44 AM EDT2014-04-07 14:44:51 GMT
    We have two warnings coming from the IRS.  The first one is what investigators call the "largest ever" phone fraud scam targeting taxpayers.
    We have two warnings coming from the IRS.  The first one is what investigators call the "largest ever" phone fraud scam targeting taxpayers.
  • 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>>

  • Recipe: Blissful Lowcountry Boil

    Recipe: Blissful Lowcountry Boil

    Friday, April 18 2014 6:05 PM EDT2014-04-18 22:05:26 GMT
    Blissful Lowcountry Boil Ingredients
    Blissful Lowcountry Boil Ingredients 4qts Water ½ cup Old Bay ½ cup Lemon Juice 1tbsp kosher salt 2 sliced shallots 8 garlic cloves 1lb Andouille sausage 1lb of New Potatoes 6 ears of corn shucked and
  • Pike Nurseries

    Spring Container Gardens

    Spring Container Gardens

    Friday, April 18 2014 10:21 AM EDT2014-04-18 14:21:54 GMT
    Container gardens are just as unique and diverse as gardens.
    Container gardens are just as unique and diverse as gardens.
  • Improve your commute with the "One Bus Away" app

    Improve your commute with the "One Bus Away" app

    Thursday, April 17 2014 9:03 AM EDT2014-04-17 13:03:23 GMT
    Don't you hate when you're waiting for mass transit and have no idea when that train or bus will show up? Now, there's an app for that and it's saving people time and money.
    Don't you hate when you're waiting for mass transit and have no idea when that train or bus will show up? Now, there's an app for that and it's saving people time and money.
Powered by WorldNow

KTBC FOX 7
119 East 10th Street
Austin, TX 78701

Phone: (512) 476-7777
Fax: (512) 495-7001

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