what is the best why to eliminate credit card debt?
without morgaging a house.
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Dont be a dumass and spend money you dont have
Look carefully at your spending. Figure out where you can cut back. Sell the gas guzzler, for example; whatever you can find. Put SOMETHING more on the card debt monthly than you are, agree with the family to stop spending anything beyond the essentials for a period of time and just stay disciplined until it is paid. The only true answer is to live simply, avoid building up more debt, and apply ALL available cash to those balances. I’ve done this. You can too.
Take your highest interest rate card and pay 10% more on that card. For example, if the payment is $100, pay $110. Continue to make the minumum payment on the lower interest rate cards. Once you have paid off the highest interest rate card. Take that payment and add it to the payment you would make to the NEXT highest interest rate card. Continue to do that until your credit debt is paid.
1. Stop using the cards
2. Pay off high interest cards first
3. Stop buying things you don’t need. A TV is not a need.
4. Stop eating at FF places.
5. Stop driving so much.
6. Use all saved money to pay on cards.
7. Can you refinance a car loan?
If it has an annual rate, then cancel it and pay it off. If there’s not annual rate, then either cut up the card, or put it somewhere at home so you don’t take it with you anywhere…and pay it off.
Credit cards should basically only be used in emergencies, and if you already have the money in the bank (not if you’re EXPECTING the money soon…but already have it in there).
1). Take pair of scissors
2). Cut all cards
3). If you have good credit score wait for one of those BALANCE TRANSFER NO FEES, NO INTEREST TIL 2010 and transfer it over, then cut that card.
Plenty of good advice here.
If you are having trouble paying the debt on your own, you may want to look into debt consolidation. This site has lots of info that may help
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