This Year I Vow To...

Reduce Debt

Feeling overwhelmed? You're not alone. Allow us to introduce you to Fools who have successfully paid down plenty in high interest debt. This community of active Fools willingly trades tips, tricks, and genuine been-there/done-that encouragement at all hours. With a little help, you'll shed thousands in debt by bikini season.

Start NowStart Now

One phone call can save you thousands. Really!

In five minutes, you'll be paying less to your credit card company. If you carry a balance on your credit card, ring up your lender and ask for a lower interest rate. (Use our handy Rate Negotiation Script if you like.) More than half the people who call their credit card customer service department are successful in reducing their annual interest rates by an average of one-third. (Tinker with the calculator in our Get Out of Debt area to see how big a difference a few percentage points can make.) So pick up the phone right now and start bargaining.

If the results of your phone conversation are less than fulfilling, shop around for a card with a 0% balance transfer option (yeah, we've got one of those), and start whittling down that debt.

It's possible that an evil spell has been cast over your credit rating. Find out what your score is — and how to fix it faster — in our new seminar, FICO 850: Achieve Perfect Credit.

Next StepNext Step

If debt's really got you down, it's time to show them who's in charge. Pick the credit card with the lowest balance (or the one that carries the highest interest rate), and devote all your energy and extra dough to paying off that card. (Be sure to keep up the minimum payments on all of the others.) Lather, rinse, and repeat as you knock off each balance. Now your get-out-of-debt attack plan is in full swing!

For help in organizing your offensive and negotiating with your lender, download this free Debt Destruction Kit. Be the first on your block to test-drive our latest invention — the Debt Destruction Sleeve!

Resolution ToolsResolution Tools

Negotiate with your lender for a lower interest rate, or transfer your balance to a low interest card like ours.

Plan your debt offensive: We'll walk you through the baby steps (and the big leaps) for FREE with our Get Out of Debt Guide. Don't forget to download the handy Workbook (also free!).

Get encouragement: The community of Fools in our active Consumer Credit/Credit Cards discussion board awaits you with open arms. Jump right in.

Score more points: Learn how to qualify for lower rates and better options in our new online seminar, FICO 850: Achieve Perfect Credit. Discover easy ways to improve your credit rating — regardless of what it is now. Subscribe to TMF Money Advisor and your tuition is free!