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Another interesting headline that I saw floating by. Let's dissect this topic and think about what this is saying. There are two ways to lower your monthly payments: 1) Get the interest rate on the debt lowered. This can happen if you are foolishly carrying your debt on a credit card and not using a loan or line of credit from your bank. Other than this big step, it is unlikely that you can lower your interest rate (maybe a little, if you like to kibitz with your banker).2) Extend the period for the debt. This means it will take longer to pay the loan off. If you are in (1) what the hell are you waiting for (unless you have no credit rating, then I think you might be screwed). Do not carry debt! If you are dumb like me and are carrying debt, for the love of Buddha, use a line of credit to control the amount of interest you have to pay. Now this does not give you free reign to then add MORE debt, your goal is to PAY this off! The better question is why would you want to increase the period of the loan? If you are on the edge and cannot afford any more payments, then I guess this is an option, but putting off to tomorrow is never a safe plan when it comes to debt! I have done this FAR too many times and then have been hit by DEBT BOMBS that appear (e.g. car breakdown or worse car blow up), if you possibly can take the pain NOW, and you can have the pleasure later. Now I sound like Ask A Ninja, Pain Now, pleasure after I kill you! --C8j

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