One dollar is not necessarily the same as another, according to a recent report from financial website Smart Money. When the value of the currency changes, its effect on consumers trying to reduce debt can be quite serious.
"As the price of everything from automobiles to airfare falls, so goes the value of assets already purchased. That means debtors will be paying a higher price against assets that are losing value," reports Smart Money.
Experts told the website that rate cuts could vary widely based on a number of factors, from a particular credit card issuer’s willingness to take on financial risk to the movement of other economic indicators.
A number of options are available to U.S. consumers looking to find some form of debt management relief in the wake of the down economy, but other experts have warned that debtors should be careful in selecting a firm to work with, as some debt consolidation companies have tarnished the reputation of the many honest brokers operating in this market sector.