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5 Simple Tips for Getting out of Credit Card Debt
If you are one of these people who are stuck in the credit card debt rut this post is for you…
The following are some tips to help you get on the right track when it comes to getting out of debt:
Tip #1: Instead of making your payments monthly start to train yourself into making payments weekly. This will result in a lower interest rate that you pay. And it will motivate you to keep on as it will seem like you are paying more faster and getting out of debt quicker.
Tip #2: If you are in the US be sure to see what the Consumer Counselling Center of America (CCCA) can do for you. They are a great help in managing your debit. They are a non-profit organization that will be able to assign you with your own credit counsellor. This counsellor will help you put a debt management plan in place.
There are numerous options for help that you can choose from with them. They have plans to help you keep your payments up to date. They have plans to help you with any overdue accounts you have now. And they can even help you by getting those annoying debt collectors from calling you. They are also able to negotiate on your behalf with your creditors in order to get your bills paid off faster.
If you are not in the US, look for an organization that is similar in your Country.
Tip #3: Learn how not go get into debt in the first place. This is the only way you will be able to get out of debt for good. Take time to think about what youa re buying. Create a monthly budget and give yourself an allowance for spending. And stick to it.
It might even be a good idea to cancel all the credit cards you have except one… and use it only in the case of emergencies. Do your best to get the lowest interested possibly on this family emergency card.
Tip #4: If you have high debt on a few cards you might want to look at transferring all the debt to one lower interest credit card. And cut up the other ones.
This way you only have one credit card weighing over your head and you can go to work at paying it off.
Tip #5: If you end up using a debt consolidation company to help you get out of debt, make sure you know what you are getting into.
There are many good companies out there but there are also shady ones. Look and see what the fees are before you sign on with them.
Final Thought: The key is to take responsibility for your present situation. You cause the debt and it is up to you to get rid of it. You need to decide that getting out of debt is a serious goal for you and that you are going to make it happen. Life is much more enjoyable when credit card debt is NOT hanging over your head.
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To YOUR Success