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Agencies help deal with credit card debt
You’re going to get a New Year’s surprise that’s not going to make you feel any better as beginning January, credit card companies will charge higher minimum payments based on guidelines from the Federal Reserve Bank. And to help you counter the problems you may face when having to pay extra money, credit counseling firms have come up with many new options. News-journalonline.com reports:
Marc Eisenson, a financial writer at Good Advice Press in Elizaville, N.Y., said card-balance juggling can work if the borrower is disciplined enough to avoid further charging and pay off the balance before the teaser rate expires. Another caveat is to make sure no special "transfer fees" will be incurred for moving balances. Some banks will waive the fees if a borrower is bold enough to ask, Eisenson said.
Read more: Planning can avoid getting caught up in debt
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