Debt Management for 2022

It’s not too late to create some debt management strategies for 2022. Did you know that one-third of Americans have debt in collections and half of Americans say the amount of debt they have causes them stress? Create a simple game plan to knock out your debt.

Here are a couple debt strategies that can help:

Contact your credit card creditors and ask if you can get an interest rate reduction. If you pay on-time and you are in good standing with them, they will often lower your interest rate a couple of points or so. 

Target your debt with the highest interest rate. Pay extra money you get from your tax refund, overtime, etc., onto this debt that is costing you the most money. 

For more debt management strategies and a financial counseling appointment with a highly experienced caring financial professional, contact CCOA at 479-521-8877 or schedule an appointment online. Appointments are available in person, by phone or online.