A national research firm says a recent survey of low and middleincome consumers indicates the 2009 Credit Card Accountability Responsibility and DisclosureAct is helping consumers reduce their credit card debtload.

The national research firm DEMOS said one third of households surveyed reported they areresponding to new information included on credit card statements bypaying their balances down faster. The new information toldconsumers how long it would take to pay down a credit card balanceif all they made were minimum payments.

The survey also reported that the households were using the CARDAct to help avoid credit card fees and penalizing interestrates.

In a survey of low and middle income households conducted in2008, 50% of households reported accruing late fees, but that in2012, it was just 28%

The survey also found that cardholders who made late paymentswere less likely to wind up paying penalty interestrates.

The survey found that 24% fewer households reported interestrates increasing as a result of a late payment, down from 53% oflate paying households in the 2008 survey to 29% in 2012.