 TITLE: How to Avoid Balance Transfer Credit Card Fees CONTENT: Balance Transfer Card Alternatives\n----------------------------------\nMost balance transfer credit cards require good to excellent credit. Fortunately, a balance transfer credit card isn't your only option for paying down debt if your credit scores could use some work. Consider these alternatives:\n*   **Debt consolidation**: If you're juggling payments to several different creditors, getting a debt consolidation loan could simplify your life by rolling all your debt into one loan. It could also save you money if the interest rate on the new loan is lower than the rates of your outstanding loans. You use the loan proceeds to pay off your creditors, then make just one monthly payment to the debt consolidation lender. This could make it easier to keep track of what you owe and avoid missing a payment, which can hurt your credit score. You can even find debt consolidation loans designed for people with less-than-stellar credit.\n*   **Credit counseling**: Trying to pay off large amounts of debt can feel overwhelming. If you're having trouble paying down debt and improving your credit on your own, you may want to get help from a credit counseling service. Be careful to use a reputable credit counseling service—typically, these are nonprofit organizations affiliated with the National Foundation for Credit Counseling. Watch out for fraudulent credit repair services that promise to fix your bad credit instantly or wipe out your debt. Such companies may charge exorbitant fees or advise you to lie about your identity to \"fix\" your credit, which can get you in even deeper financial trouble.\n*   **Debt management plan**: A legitimate credit counseling agency may suggest setting up a debt repayment plan called a debt management plan (DMP). The credit counselor negotiates with your creditors to create a new payment plan for you, which may involve reducing your interest rates, waiving fees or otherwise lowering your balances. You pay the counseling agency every month; they use the money to pay your creditors (keeping a small fee for themselves). Most DMPs are designed to pay off your debts within three to five years. The credit counseling agency typically provides ongoing counseling to help you learn and maintain good credit habits. END