Normally, most of us are able to handle our mortgage and utility bills every month because they're fairly predictable.
They rarely surprise us with an unexpected increase.
Credit cards are a different matter all together.
How many times have you opened your card statement and felt your heart sink when you see the minimum balance you owe this month? You examine the bill in detail to determine why the this bill is so much larger than previous ones.
Then you see the fees went up, or there's a new fee, or they raised your interest rate, even though you made every payment on time.
Last month you thought you had it all under control and this month you don't know how you'll make these higher payments on a regular basis.
All of a sudden, you're up to your eyeballs in debt, and deep in despair.
Well, help is on the way.
New laws passed in 2009 will take effect on February 22, 2010 and provide much-needed credit debt help.
Check out some of those provisions listed below to see if they will help you.

• No rate increases on existing balances-Interest rates used to go up for reasons ranging from the need for more revenue (regardless of history) to a change in credit score.
  Now rates can't be raised except under unusual circumstances (e.
  g.
  no payment for sixty days).
  
• Faster payoffs for some-Any payment over the monthly minimum must go toward paying down that portion of the balance carrying the highest interest rate.
  
• No increases for the first 12 months-In addition to the recent change that requires 45 days notice for rate increases with the option to decline, now card companies cannot raise your rate during the first year an account is open, unless an "introductory rate" is expiring and the new rate was clearly explained from the beginning.
  
• New billing and payment terms-Bills must now be mailed at least three weeks before they're due and carry a consistent due date.
  Payments must be credited if they arrive by 5PM of the day due or the next business day if the due date is a holiday or Sunday.
  
• Over-limit charges-From now on, the card company must ask if you want it to approve charges that put you over your credit limit.
  If yes, only one over-limit fee per month is permitted, and if you say no, they can't charge you a fee if it allows such a purchase anyway.
  

Future changes, due in August are less precise.
They will require that penalty fees be (1) reasonable and proportional and (2) that card issuers who have raised customers' rates since Jan.
1, 2009, reevaluate those rates to see if they should be reduced, and to do so at least every six months.
How the government will structure their regulations to achieve these requirements is still to be worked out.
Even though these new regulations will provide much-needed credit debt help, the credit companies will be looking for ways to get around them in order to maximize their revenue.
So beware, the old tricks may be gone, but new ones are bound to take their place.
Keep a vigilant eye on your monthly statement.