John Casteel

Not every debt you have is a bad debt.Real estate can be considered a good debts. Real estate is good because, and in the short term, they increase in value over time and the loan interest is tax deductible. Another example of good debt would be a college loans. Student loans generally have lower interest rates are are not repaid back until the students have completed their schooling.

Watch for letters that will highlight changes in your credit accounts. The law requires creditors must give you at least 45 days before the changes go in affect. Read over the disclosure of changes and see if the changes are worth you keeping the account. If it's not worth it, pay it off and close it!