The Freedom From Debt Blog

With the new laws designed to protect credit card holders from unfair practices set to go into effect next year, many credit card companies are taking action now to shore up profits. Recently, several major credit card companies have started raising interest rates.  Many consumers have also seen their credit limits cut, which in turn [...]

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One simple fact that many people do not realize is that, with the way most credit card company’s calculate minimum payments now, there is a direct link between your interest rate, or APR, and your monthly minimum payment.  In other words, a higher interest rate usually means a higher monthly payment, while a lower interest [...]

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As more and more people turn to the internet for their shopping, research, and various other needs, the popularity of online debt consolidation sites (and spam) has skyrocketed.  We generally recommend speaking with an accredited credit counselor who can answer questions, walk you through the process, and help you decide whether consolidating your credit cards [...]

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If you are struggling with high interest rates, rising monthly payments, or high fees on your credit card debt, a DMP, or debt management plan, may be the solution you have been looking for.  If you are behind on your credit card bills, or simply want to get out of debt and are struggling to [...]

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Maybe you overspent your budget over the holidays, or maybe you have been struggling with credit card debt for several months now.  Whatever your situation, if you are in over your head in debt and dread seeing your credit card bills every month, you might be able to benefit from credit card consolidation.  Consolidating your credit [...]

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A Senate Subcommittee held a hearing on Tuesday to investigate many common practices of credit card companies.  The committee is concerned that many of these practices could be unfair and potentially abusive to consumers. Pay on Time Every Month, Have Your Interest Rate Raised One issue at the center of the hearing was the case of [...]

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Most of us are well aware of phishing scams, foreign lotteries, and other common frauds and have taken the necessary precautions to protect ourselves from these scams.  However, there are several other forms of identity theft that are a bit less publicized.  Fraudulent Credit Card Charges We all know that it is very possible for [...]

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