Forecasting the future is always hard. Companies pay big bucks to economists in an effort to get an edge on what might happen in the financial markets. Sometimes they’re right. And, sometimes they’re wrong.

Scott, We are drowning in debt–over $80,000 in credit card debt, some at over 30 percent! We are taking a second out on our house to pay it off. Should we ask the credit card companies to lower our payoff amount for paying off the balance in cash? Will this adversely affect our credit rating? Even a 10 percent reduction would pay for a car for my son. Your advice is appreciated! Viola

Hi Scott!, I have really enjoyed reading all your great info about credit card debt. However, all this talk about rising minimum payments from 2 percent to 4 percent has got me worried. I’d like to plan for additional purchases like a new car before winter but I am unsure of my financial situation if my payments jump to 4 percent. I’ve called my banks for an answer but they have only told me they are in the process of determining whom these changes will affect. How can I find out what the future holds for me so I can move forward in my financial planning? Thanks so much far any assistance with this one! John