I-Team: Simple steps, big savings in debt consolidation - Atlanta News, Weather, Traffic, and Sports | FOX 5

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>>

  • 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.
  • Mom confronts Ray McBerry over modeling request

    Mom confronts Ray McBerry over modeling request

    Monday, July 28 2014 10:31 PM EDT2014-07-29 02:31:15 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.
  • Unresolved bank errors? Help is on the way

    Unresolved bank errors? Help is on the way

    Monday, July 28 2014 8:11 AM EDT2014-07-28 12:11:30 GMT
    Taking on a big bank, even over something like a minor bank error, can be maddening. You feel like no one is listening. It's like being trapped in a maze you can't get out of, but somebody is noticing how frustrating that can be.
    Taking on a big bank, even over something like a minor bank error, can be maddening. You feel like no one is listening. It's like being trapped in a maze you can't get out of, but somebody is noticing how frustrating that can be.
  • 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.

  • 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.
  • Casting Call: July 30

    Casting Call: July 30

    Wednesday, July 30 2014 7:49 AM EDT2014-07-30 11:49:49 GMT
    Check out the Good Day Casting Call for the week of July 30.
    Check out the Good Day Casting Call for the week of July 30.
Powered by WorldNow

1551 Briarcliff Rd., NE
Atlanta, GA 30306

Main Number: (404) 875-5555
News Tips: (404) 898-0100

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
.