Debt Problems - How to get out of Credit Card Debt?

How to get out of Credit Card Debt?

What is the best way to get out of credit card debt. We are not filing bankruptcy. Please, helpful advise only.

Public Comments

first burn your credit cards and then take the time to pay them off. If the interest is high, look for a lower interest debt consolidating loan. But BURN YOUR CREDIT CARDS
Call up a credit consolidation place. They'll consolidate your cards to 1 payment and they should be able to lower your interest rates as well. Pay off as much each month as possible and always pay AT LEAST the minimum.
First of all, dont take out any kind of loans to help you pay them off, then everything will get worse. Just transfer your debt to a 0% interest (for a year) credit card, even if it costs you a little extra. Then just keep taking money out of your weekley pay checks and just keep sending it in. Even if it's just $30 a week. You will see it go down slowly but surely and with no cost! Get an extra job if you need more money
pay the minimum payments on all cards except for the one with the highest rates, pay that one double the minimum or mori if you can until it is paid then pay the next highest double and the others min. do this until its done. that is the only way I almost forgot, and stop using them at the same time and good luck I am trying to do it too.
take you credit cards and put them away not get committed to not using them at all, and do what is called windfall payments plan, what that is is taking the credit card that has the least amount owed on it and send in the most that you can while sending in the minim on the others so you stay in good standing with them and when that is paid for then combine that payment and the second payment and pay off the second one then once that paid then send in the combine payments and combine the third payment and before you know it then they will be paid for, or you can get a 0% transfer wit ha credit card and divied the payments up by 11 months and send that in faithfully everymonth til the balance is paid for, then you are paying on a balance that is not occuring interest at all. i hope this has helped you.
I actually just did this... Make sure you read the FCRA (Fair credit reporting act) and the FDCA (Fair debt collection act). Very important... I have 20k in debt and just had my credit card companies knock off about 5k total... It obviously will look bad if you make a settlement with them but is nothing like bankruptcy. You can start rebuilding credit right away. You can look up a sample debt validation letter if your credit is in collections. Just whatever you do, don't do debt consolidation... I did it for 4 years and paid over the minimum every month... it lowers you credit score for the duration of the program and they charge you fees.... It really doesnt get you anywhere. My debt was only a couple thousand less than when I started. You can haggle your comanies to lower your interest and make settlements.... Just tell them you are going to file for bankruptcy if you can't get what you want. (Then they are afraid they will not get anything from you and will settle... don't take no for an answer... they will say anything to make more money.
Well I have managed to pay down MOST of mine, not all. I have been doing these online survey jobs, I know I know, sounds like a scam, but it's not. I'll clear over $600 this month, it was $300 last month. http://moneymakingsurveysites.blogspot.com/ has the information, it's free
1. Throw away your credit cards 2. Pay the minimum balance on each (if you have more than one) 3. Try and pay the smallest debt off first... then take what you would normally spend and tack it onto the next debt. example: you owe $5000 on MasterCard... minimum payment is $130. You owe $8000 on Visa... minimum payment is $240. Total monthly: $370. Once the $5000 is paid off, take the $130 and add it to the $240... Visa payment would be $370... and so on. It will cause some serious sacrifice, but you will be able to pay your debt off a lot sooner.
A lot of the strategies that the other answerers have given you are great strategies. Follow them. You need to do 2 other things to make sure this isn't a recurring issue. You have to know why you got in over your head with credit cards in the first place. Was it a few big purchases? Emergency? General overspending? If you don't know how you got there, you'll get there again even if you manage to pay it all off. Debt reduction has to become THE priority in your lives. It can't after skiing but before Starbucks. Not only that, but you have to do a critical evaluation of your budget to see how much you can free up for debt reduction. Examine expenditures both large and small. Shop for insurance. Increase your deductible, but make sure you are properly covered. Change your cable plan, change your cell phone plan (or, gasp, get rid of it), chang e your internet plan. Carefully examine every dollar that goes out the door and ask if that is the best possible use for it. Find entertainment alternatives (DVD's are available at the library - so are books!). Eat in. Every night. Bring your own lunch. Are you serious about getting out of debt? So we've looked at defense (how you spend). What about offense (how much you earn)? Can you get a second job? Saturday only, maybe? 5-9pm three nights a week? All of the extra income could go towards debt reduction. It's a drastic measure, but... Now - here's the kicker. Once you've done all of these things and gotten out of debt - KEEP DOING THEM and start saving. Emergencies crop up all of the time. Car breaks down, etc., Wouldn't you rather dip into savings rather than put it on a credit card? Me too! It is possible, but it requires a change in mindset and behavior from what got you in trouble in the first place. good luck!
Use cash instead of credit card. It can help to avoid further unneccessary purchases. I have articles on Free Your Debts, Ways to avoid bankruptcy. Get advice from Debt consolidation or Debt settlement. Will it affect my Credit Score / FICO Score? More Information on http://avoid-bankruptcy-get-debt-consolidati.blogspot.com
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