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Mark Huffman has been a consumer news reporter for Consumer Affairs since 2004.He covers real estate, gas prices and the economy and has reported extensively on negative-option sales.He was previously an Associated Press reporter and editor in Washington, D.C., a correspondent for Westwoood One Radio Networks and Marketwatch.

And if you choose the right card -- one that provides a year or more of 0% interest -- you can quickly make progress on paying down the debt while having a lower monthly payment.

One things to consider, however, is most balance transfer cards charge a fee of 3% of the balance you are transferring.

The Chase Slate Card, however, does not if you transfer the balance within 60 days of opening the account.

Another way to consolidate high interest debt is with a home equity line of credit (HELOC).

The advantages are the interest rate is low and the interest you pay is tax deductible.

But in most cases, you are paying off unsecured debt with secured debt -- debt that is secured by the equity in your home.

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