Most credit card and mortgage loan companies offer automatic payment plans that are easy to use and set up. Simply contact your credit card company via phone or sign up for the automatic payment feature online to have your credit card bill paid directly from your checking account each month. Not only will it save you money on postage, but leave you with the peace of mind knowing your payment is on time each and every month. No more late fees mean more money in your pocket!

A few words of caution: If you are going to set up automatic payments from your checking account, first review your account records for the previous 6 months or so. Make sure that you have had a stable enough level of income (coming into your account) that supports making such a decision. If you have a job that relies heavily on overtime or bonus income, you may want to avoid this option, keep the flexibility and continue to make your payments manually. If you get in a pinch, most credit card companies and mortgage lenders have phone (some may charge a fee) and online payment options. You certainly don't want an auto-payment to be declined for insufficient funds!

Make informed decisions when shopping for the consolidation of debts and financial services. Be sure to educate yourself!

Please note that the Debt Consolidation Loan Directory has a constantly expanding library of educational financial resources for consumers shopping for a wide range of financial services, such as bill consolidation, car insurance and debt counseling. The best way to make decisions regarding your personal finances than to become educated about how they work. Please feel free to visit our consumer information library.

• Pay Off Your Mortgage Sooner - You can save a lot of money in interest costs by shortening the term on your mortgage, sending in extra payments or by making more than your required payment and having it applied to the principal balance. 
• A Serious Debt Problem, Requires a Reputable Credit Counseling Service - Start your search for a debt counseling firm by asking people you trust for a referral. Then, be sure to inquire with state and local consumer protection agencies to find out if there are any complaints against the organization. 
• Know the Signs of Financial Fraud - Besides the old adage of... "If it seems too good to be true, it probably is", the FDIC offers some other tips for identifying scams designed to defraud you.

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