debt

7 safe borrowing tips to keep debt in check

Set a debt deadline for credit cards
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Set a debt deadline for credit cards

Cecere suggests paying off credit card balances within three months.

"You need to be able to pay off those debts in a reasonable amount of time and not just make minimum payments," she says.

Better yet, Maurer says, don't even consider carrying your balance as an option.

"Revolving credit balances are the cancer of personal finance in a household," he says.

Cecere adds, if you can only afford minimum credit card payments, don't add new expenses. And seek help from a credit counseling organization if you can't make the minimum.


 

 

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Debt Adviser

Don't be seduced by this debt plan

Dear Debt Adviser, I have about $50,000 of debt on credit cards. My credit rating is still high. I am thinking about a debt consolidation loan. Will that adversely affect my credit rating? -- DT Dear DT, The cliche... Read more

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