How do I deal with bank fees?

I've heard of many folks who have dealt with banks by going to their loan officer. A loan officer is a person who you can actually talk to. It's the first step toward getting your budget adjusted and put into a sound financial position.

You'll be able to tell them what you need done and they'll work on getting you in a better place on your budget.

You'll be able to hear them explain their actions with the help from the Financial Freedom Podcast.

Most banks have loan officers. Contact one if you're working with a bank which doesn't.

What about my credit card companies?

The credit card companies are the first step towards taking control of your finances.

If you have a credit card with a high interest rate (like those with high APR's) you should talk with your card issuer about whether they'll offer this rate. If they don't they may be able to lower the rate, but you should talk to your credit card company first, for better and safer choices.

You may have noticed that some of the most popular credit card companies offer lower interest rates than others. This is because the people who are using these cards are generally in better financial shapes, better prepared to manage their credit than those who are not using this card.

If an issuer is offering a lower rate, ask directly why they are doing so. The answer might be because the issuer thinks this will help protect them from other lenders in the future. They are less likely to offer a lower rate if the issuer has seen your current credit history, so the lower rate might have more effect on you than the reason why they are doing it.

You can generally get a fair rate of return from a credit card, whether it's a $500 sign up bonus that is tempting, or a card with a 20% sign up bonus  and that's a sign up bonus that they offer to you with a low interest rate. You won't be able to get a 100% return on the money that you've applied for with an credit card, but this is a sign that you might need to consider this possibility.

If you're still unsure if your credit card company will lower your interest rate as part of their rate competition with other banks, you can use this chart