Recession Buster Boot Camp: Week 4 Challenge
Date Your Debt
Ready to get romantic? Good! 'Cause this week you're going to get intimate with your debt. And if it's been a while since you looked closely at your debt situation, this may be a little bit like a blind date. Put on a little lip gloss and let's go.
Step 1: Dig out your credit card statements and make a list of these things:
Your minimum payments
Your interest rates
The toll-free numbers for your credit companies
Also, for each card, make a note of whether you've been delinquent in payment over the past year.
(Don't have any credit cards? Your challenge is STEP 2!)
Did you know you're entitled to one free report each year from each of the three major credit-reporting companies (Experian, Equifax and TransUnion) thanks to the Fair Credit Reporting Act?
To get your report, simply visit Annualcreditreport.com and fill out the info there.
You can also call 877-322-8228 or mail in the form:
Annual Credit Report Request Service
P.O. Box 105281
Atlanta, GA 30348-5281
Start with the highest interest rate and start calling your banks to try to negotiate a lower interest rate. (Yes, it's as scary as asking someone out ... get over it.)
Not sure what to say? Try this:
Unsuccessful? Well, you can't win 'em all, but you should feel good for trying. We still love you!
Bonus Challenge: Cut up all of your cards except for one emergency card.
Go to the Recession Buster Boot Camp homepage.