Negotiate a lower rate

If the majority of your outstanding debt is credit card debt, you may be spending hundreds of dollars just on interest alone. Aside from wasting money, this keeps you from moving forward and paying down your debt.

One of the most popular ways to get a lower rate is by doing a balance transfer from your high-interest credit cards to a potentially lower APR. Considering the source, this is going to sound like a sales pitch, but consider researching credit unions for this type of service. Their rates are often much lower than that of banks and sometimes you can even find a promotion. (Read more information on our current promotions here: TwinStarCU.com/visa)

Lowering your interest rates will allow you to make another real step toward getting rid of debt because you are lowering the amount of interest you will be paying in the long run.

Bonus Tip: Joining a credit union is a good step to debt recovery on its own. Credit unions are member-owned and not-for-profit institutions, so they are  dedicated to helping their members get out of debt.