Take Advantage of Credit Card Debt Counseling and Get Rid of Your Debt
One of the best ways to get out of credit card debt is to start paying it down weekly instead of monthly. There are many advantages to this. It is easier to clear out your balance as you incur it weekly. Interest will not accrue as much since the balance that interest is charged on is lower. A smaller weekly payment will seem less daunting to pay than the larger monthly one.
Another very good way to get your credit card debt under control is to seek the advice of the Consumer Counseling Center of America. This organization is a non profit organization that seeks to assist people with serious debt problems. A credit counselor is assigned to the consumer and he Will review all of the outstanding debt of the consumer and work with the consumer on preparing an "action plan" to reduce and eventually eliminate the debt. As part of their duties, they will contact the creditors to negotiate more favorable interest rates and repayment schedules. CCCA will also help the consumer to bring past due balances up to date and work with the consumer to keep them current, settle the most overdue accounts and contact collection agencies to stop the harassment.
But the only real way working with CCCA and agencies like this is for the consumer to start practicing strict financial discipline. Any one who has large credit card debt must break the plastic habit. The plans the counselor sets up will not work if the consumer continues to shop and pile on the debt. What is usually adviced is that all credit cards are destroyed except one that can be kept in case of emergency.
If possible, the credit card balances should be transferred to the credit card that has the lowest interest rate. If zero percent offers are received, they should be taken advantage of. When used properly, they can cut debt quickly; just be careful that you don't get caught with a high percentage loan after the introductory period.
Be wary of any company that promises it will slash your credit card debt, for a small fee. Many, many people have been stung by these credit repairers or so called credit doctors. Make sure you know the background of any credit counselor you decide to work with.
You, and only you can reduce your debt. Make a budget with a reasonable spending limit, make sure you stick to it and stop credit card use. You will be very happy once you are credit card debt-free.
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