For the second time, we are proud to be the host for this week’s carnival of debt reduction.  This carnival is all about reducing your debt, so articles that were off topic and did not follow the submission guidelines may have been left out.

If you are looking for debt reduction help, have a look at the fantastic articles from these very talented personal finance bloggers.  You’ll find inspirational personal stories of debt, as well as some great tips on how to create your own debt reduction plan from people who have already done it on their own.

Here are the best submissions from this week’s carnival. (more…)

Reduce Debt Faster is incredibly excited to be the host for this week’s edition of the Carnival of Debt Reduction.  This carnival always features informative and insightful articles from some pretty awesome writers and personal finance bloggers around the web, and this week is no exception.  If you need a debt reduction plan, this is the place to look.

While there were a lot of great submissions for this edition, as this week’s host I will do my best to stick to the submission rules.  Submitted articles should be on the topic of reducing debt – particularly personal stories of debt reduction or strategies for getting out of debt.  Unfortunately, I had to exclude some fantastic articles because they were slightly off topic.  If your submission is not included, feel free to contact me and I will be happy to feature your article somewhere else on this site.

Now, on to the articles!  First, I would like to highlight a couple of my personal favorites.  Keep in mind that this not a “ranking” of any sort.  All of this weeks featured articles are very good, but these are just a few that really caught my attention. (more…)

While we aim to provide all the information we can to help you reach your personal finance goals, we often come across helpful and insightful articles on other sites around the web.

So it only makes sense for us to point you to those sites and articles that will help you in your quest to get out of debt and build your personal wealth.

We will likely make this a regular feature here at Reduce Debt Faster, so if you find an article or resource that you feel is especially helpful, insightful, or useful, feel free to leave a comment and let us know! We will be happy to feature anything that will help our readers. (more…)

Well, it looks like Chase is back at it once again.  We saw a few months back how Chase was jerking customers around and faced a class action lawsuit over it.

Now, Chase is back up to their old tricks, informing many customers who were promised a low interest rate balance transfer for the life of the balance that their minimum payment would increase from about 2% to a whopping 5%!

To put that in perspective for you, let’s use the example of a $10,000 balance.  The old payment would have been around $200.  The new 5 percent payment would be $500 every month!

Now, we all understand that Chase and other credit card banks are worried and are trying to protect their finances in these tough economic times.  But, how many customers do you think can easily afford these huge increases in monthly payments?   (more…)

Well we have heard that it was coming, but it looks like many major credit card companies like American Express and Bank of America are slashing customers’ credit limits.

Even customers with good credit and who were far from maxing their credit cards out are being affected.  Officially, some creditors claim it is in preparation for the new credit card laws that will be enacted in 2010.

Hurting Credit Scores, Causing More Problems

Even if you no longer use your credit card or are just trying to pay it off, this will still negatively affect you if you carry a balance.  Let’s take a look at a very good friend of mine’s situation. (more…)