Debt Management

Wondering how to pay off debt? Here’s a guide to get you started.

For many people, debt can inch upward slowly, especially if there are multiple types of accounts involved, like lines of credit, loans, and credit cards. For others, a major event – such as a health emergency or unexpected home repair – can throw a careful financial plan out of whack.

No matter where you are with loans, getting a handle on your accounts is a great first step toward learning how to pay off debt.

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Author SAC FCU Managing Editor

Debt Management

How to form a plan and pay off debt

Everyone’s eager to eliminate the nagging pressure of debt and its interest payments. But that’s a tough problem to escape. The average credit card balance among indebted Americans (about $15,000) has remained steady for years.

The debt challenge can be so daunting – especially if you face large or multiple debts – that some people think it’s unbeatable. The good news is if you take time to assess your debts and plan a strategy, you can set yourself on a realistic path to financial freedom. Read more…

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Author SAC FCU Managing Editor

Debt Management

Looking to reduce debt? Consider a credit card balance transfer

From college textbook purchases to holiday shopping trips, credit card debt can start to pile up for a lot of people. Because they typically carry higher interest rates, eliminating any debt you’ve accumulated on credit cards can have a big financial impact. One simple tactic for paying down that debt is a credit card balance transfer.

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Author SAC FCU Managing Editor

Credit and Loans, Debt Management

Starting from zero: how to repair credit

Most people know they need a good credit score and would like to improve theirs. But for some, it’s a more dire situation. Whether it’s due to poor money management or you’re just going through a rough patch, sometimes it’s helpful to get advice on how to repair credit and “start from zero.” That’s why we’ve created this step-by-step plan for improving a very low credit score.

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Author SAC FCU Managing Editor