Castle Law Office Blog | Missouri & Illinois Bankruptcy Legal Blog

Good Advice on Credit Cards

Suze Orman just wrote a pretty good article on MSNBC.com about what you can expect from the credit card companies in 2009, and she also makes some great recommendations.

Here are a few:

• Make it a priority to pay off your credit card balances.
• Read every statement and all correspondence from your credit card company to make sure you are aware of any changes to your account, such as skyrocketing interest rates.
• Work to get your FICO credit score above 720.
• Be very careful where you turn to for help with credit card debt. Debt consolidators are often a very bad deal. The National Foundation for Credit Counseling is a smarter choice.
• Resist the temptation to use retirement savings or a home equity line of credit to pay off credit card debt.

You can read the whole article by following this link.

http://www.msnbc.msn.com/id/28544648/

As always, if you live in the St. Louis area and are considering bankruptcy, contact the Castle Law Office for a free legal consultation today.