Eliminate Credit Card Late Fees
Most industry estimates conclude that 35-40% of credit card
company revenues come from fees. These include annual fees,
over-the-limit fees, late fees and other "nuissance charges."
If you are incurring late fees, then you are really in danger
of falling behind. Late fees increase your balance and, most
importantly, your minimum payment. Once you begin incurring late
fees, you are in a position where your debt can quickly spiral
out of control.
Bringing your credit card accounts to a current status is
crucial for eliminating late fees. This means coming up with the
entire minimum payment and sending it in on time. If you cannot
do this, you may need an account re-age in order to become
current.
Credit counseling agencies are usually able to negotiate a
re-aging of your delinquent credit card accounts. This returns
your account to a current status and helps you avoid future late
fees.
What this also does is it allows you to make a much
smaller
minimum payment to each credit card. By setting up a single
consolidated monthly payment, you have the potential to cut your
combined monthly minimum payments considerably. Take steps today
to eliminate credit card late fees.
NEXT: Lower your Payments
|
