 TITLE: Will Debt Relief Hurt My Credit Score? CONTENT: Alternatives to Debt Relief Plans\n---------------------------------\nIf you're feeling swamped with debt and are looking for other ways to relieve the pressure, there are a few other actions you can consider. These options are alternatives to debt relief and may be good first steps if you're only having issues with one or two creditors, haven't gotten to a point where you are completely overwhelmed with your debt, or think you'll be able to manage your burden on your own. If you give these a try and feel that you need a more serious debt relief option, consider one of the more serious action plans listed above.\n*   **Consider making a balance transfer.** If you're dealing with a lot of high interest credit card debt, you may want to see if you're eligible for a balance transfer at a low interest rate with one of your existing credit cards or a new card. You may get an introductory balance transfer interest rate as low as 0% for a certain period of time (usually up to about 12 months), which will help you avoid interest as you work to pay off your debt. If you can't qualify for a new card, figure out which of your existing cards has the lowest annual percentage rate (APR), and then give the issuer a call to see if they offer a balance transfer option. Moving money from one card with a high APR to another card with a lower APR can save you money over time—as long as you don't continue charging on your cards with higher interest.\n*   **Negotiate with your creditors on your own.** If you're significantly behind on your credit card payments, you can try contacting your card issuers to negotiate a lump-sum payment or adjusted payment plan for a lower amount that you originally owed. The lender in this case lowers the amount owed so they can at least recoup some of what they were owed, instead of none at all. This won't be possible with every lender, and the outcome of this negotiation will vary greatly based on your specific scenario. But it's worth considering, especially because you won't have to pay a third party to do the work for you.\n*   **Seek free credit counseling.** Find a credit counselor or peer who can help you organize your finances and get them under control. Once you find someone who can help, work with them to create an actionable plan and stick to it. Use them to hold you accountable, and make sure to keep accurate and thorough records of all your debt and payments to make sure you're successfully working toward your goals. END