Mon 13 Jul 2009
Small Business Tip of the Week: Reducing Bad Debt
Posted by Megan Dorn under Small Business, Financing
If you have debt on credit cards with extremely high interest rates, try transferring it to cards with lower rates. This will drastically slow the growth of your debt.
You can also attempt to negotiate with your credit card company for a lower interest rate. They are typically resistant to negotiations, but if you explain that you are a good and loyal customer and that they are in jeopardy of losing your business, they may be more open to the idea.


