If you have consumer debt, you're probably looking for a strategy to pay it off. Some people use a home equity loan as a way to get a lower rate, others use 0% balance transfers, still others just call their credit card company and ask them to lower their rates.

What should you do? Here are few differing view points and strategies from personal finance bloggers who've been there.

BillMeLater is a new service that does what its name says: you can buy something paying using BillMeLater, they'll front the cash, and send you a bill later, but, BusinessWeek says Amazon is buying a stake in "Bill Me Later" a firm that offers open lines of credit to customers so they can shop without using a credit card.

The deal should be final by the first quarter of 2008. Anyone used "Bill Me Later"?

The ongoing subprime meltdown is The Wall Street Journal analyzed more than $2.5 trillion in subprime loans made since 2000 and found that as the number of subprime loans grew, the loans were being issued to borrowers with better and better credit scores—borrowers who could have qualified for traditional loans with more reasonable terms.

In fact, the WSJ says that at the peak of the subprime boom in 2005 over half of the subprime loans went to people with good credit.

By 2006, 61% of subprime loans were going to people with good or even excellent credit scores.

Why?
The surprisingly high number of subprime loans among more credit-worthy borrowers shows how far such mortgages have spread into the economy -- including middle-class and wealthy communities where they once were scarce. They also affirm that thousands of borrowers took out loans -- perhaps foolishly -- with little or no documentation, or no down payment, or without the income to qualify for a conventional loan of the size they wanted.

The analysis also raises pointed questions about the practices of major mortgage lenders. Many borrowers whose credit scores might have qualified them for more conventional loans say they were pushed into risky subprime loans. They say lenders or brokers aggressively marketed the loans, offering easier and faster approvals -- and playing down or hiding the onerous price paid over the long haul in higher interest rates or stricter repayment terms. As we've previously learned, subprime mortgages were more profitable than traditional "conforming" loans and were easily repackaged and sold on the secondary market. Consequently, compensation structures were set up tha