Is Debt Getting the Best of You?

No matter how much money I throw at my debt, it never seems to go down. What can I do?

  • Start with a map. Figure out how much you owe, to whom you owe it and at what interest rate you’re paying it back, plus other fees, penalties or costs that go along with carrying debt. Meanwhile, review your credit report so you know what the credit agencies think you owe. Don’t forget to challenge anything on your report that appears fraudulent or inaccurate.
  • Lower your interest rate, even if it raises your payments. You can lower your interest payments by moving chunks of your debt from high-interest plans to lower-interest plans. One way is to move credit card debt from one card to another, so the largest balances are at the lowest rates. Or considering refinancing your loans. For example, our home equity loans have lower rates than most credit cards because you have collateral to help secure the loan — so you could tap into the equity in your home to pay off higher-rate debt.
  • Get help. Navigating your financial situation can be overwhelming, so City CU offers free one-on-one assistance to Members and non-Members. We can help you restructure your debt, develop a plan to improve your credit score or create a budget. Call D Newkirk to set up an appointment at (214) 319-3044 or send an email to