Q: I have high credit card balances with high interest rates. I have not been late, nor am I behind on payments; however, it is a burden. Can you help?
Evans Mills, NY
A: For folks overwhelmed with credit card debt, I suggest they go to the National Foundation for Credit Counseling Web site to seek help in coming up with a debt repayment plan. Under such a plan, you may be able to get those interest rates reduced. It’s not a guarantee, but the consumer credit counseling agency can try on your behalf.
You will have to pay a small monthly fee to the agency to set up the plan and manage the payments, which will be sent to your credit card companies.