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Three simple steps to debt freedom
According to economists, getting out of debt is as difficult as trying to quit smoking. Extremely difficult, both these tasks require a great amount of determination and the will to break the underlying patterns of behavior. But of course, there is help and following these simple but difficult steps will ensure that you are debt free for life. CNN.com reports:
Play let's make a deal Call your current card companies and explain that you intend to transfer your balance to another issuer unless your rate is lowered, suggests Scott Bilker, author of "Talk Your Way out of Credit Card Debt." If your credit score is above about 750, you should be able to get your rate under 10%, he says. And, he adds, you should still be able to knock a few points off your rate even if your credit score is as low as 650.
Read more: A smart credit-card plan; the perfect paydown strategy; 11 moves to consider.
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