Friday, January 15, 2010

Over the next few weeks, millions of Americans will be receiving big credit card bills for all their holiday purchases. Many consumers will be overwhelmed. Kelly Shelton of the non-profit, Family Financial Education Foundation has some tips for consumers to help manage and pay off their debt as quickly and efficiently as possible:

1. Get a handle on how much you owe and develop a realistic plan to pay it off. If you need help, you can get a free financial analysis from Family Financial Education Foundation or other non-profit credit counseling agencies. (Call 877-789-4171.)

2. Pay off your lowest-balance credit card first and then apply the payment amount from that card to next smallest balance card and so on

3. Make sure you pay on time. Being just 1 day late can result in a huge increase in your interest rate. Use electronic bill pay to make certain your payments are received on time.

4. If you can't make the payments – call your creditors and discuss it. Hiding from them will only make the problem worse.

5. Don't go it alone. If you are in over your head, get professional help.

More Americans are drowning in debt today than ever before. For over 12 years, Family Financial Education Foundation has been dedicated to helping consumers get out of debt. As a non-profit organization, FFEF can negotiate lower interest rates and lower payments for their clients and educate them on the wise use of credit so debt problems don't happen again.

For a free financial analysis call the non-profit Family Financial Education Foundation at 877-789-4171.

Kelly Shelton is available for interviews to discuss all areas of personal finance and what options are available to consumers who want to get out of debt.

For more information or to book an interview with Kelly, contact Donna Garbett, 307-789-2010 or email: donnag@ffef.org

Donna Garbett

Family Financial Education Foundation

Evanston, WY

307-789-2010