The Feds have raised interest rates several times already this year and it’s about to happen again. The difference is that this time it’s going to go up even higher. Economists are predicting that the prime rate is going to 7.5 percent. That means if you have a home equity line of credit, and you don’t have very good credit, you could be paying upwards of 10 percent on your loan next year. So, how do you keep from getting hurt? Join the 36 percent of people who don’t carry a balance. Come up with a plan to pay your credit cards in full every month. Of course, you have to stop using the card first! Then, see if you can either pay off your HELOC or get it changed to a fixed rate. People obviously see the rising interest rates coming because they are getting out of exotic loans like crazy. That includes interest only loans, LIBORs and option payment mortgages. Clark is ecstatic about this. Even if you have to pay a little bit more upfront when you refinance to a long-term fixed rate, you’re going to be much better off in the future.