Getting into challenge with credit card debt is simple. Paying down your debt may be the hardest task ever faced. The right way to get rid of debt is to pay what is owed. Unless the cards or perhaps a person's identity were stolen and fraudulent charges were made, it comes with an obligation to settle the credit card debt incurred.
Stop Using All Credit Cards - Immediately stop using credit for just about any purpose. Credit debt cannot decrease if charges continue being made. Secure all credit cards so as to avoid temptation. Insert them in a safety deposit box or freeze these questions block of ice.
Cut Expenses - Get completely back to basics. The only stuff that are necessities are food, water, clothing, shelter and basic utilities. Everything else is extra. Cancel cable TV, extra phone services, internet service and anything else that isn't essential to survival. Quit eating meals out or buying coffee at specialty coffee houses.
Generate More income - Get a job or perhaps a second job, if at all possible. Earn money at home by babysitting, doing yard work or cleaning houses. Place an ad to market any big-ticket items or toys that you can do without, particularly if you still owe money on them. A large screen TV, second car, motorcycle or unneeded furniture can offer a significant sum of money to put toward credit card debt. Have a garage or yard sale and turn excess small items into cash.
Repay the Debt - Invest the cash saved each month and any extra cash from work or sales toward paying down the credit card using the lowest balance. Once that card is paid, invest extra cash toward the card using the next lowest balance. Continue in this manner until all accounts are paid. An individual will be debt-free, DO NOT start using the loan cards again. Also do not cancel the charge card accounts as that will adversely affect your credit score.
Author Resource:
NOTE: By researching and comparing trusted credit card consolidation loan options in the market, you will determine the one that meets your very specific financial situation.
You are very welcome to visit the Credit Card Debt Free website - where you can see the best rated debt consolidators on the market.
Proudly sponsored by the Latest Movie Releases team.
![[Valid RSS feed]](http://www.look4articles.com/images/icon_Rss.png "XML Feed For RSS"){kind=icon}
Category Rss Feed
Print This Article
Add To Favorites
![[Valid RSS feed]](http://www.look4articles.com/images/rss.jpg "XML Feed For RSS")