Lower your Credit Card Payments and Interest
Depending on the amount of debt you have, you may be spending a significant portion of your income paying your credit card bills. What makes this worse is that most of those payments are going to pay interest on those accounts. Most of your money is being wasted, lining your creditors' pockets.
It is not enough to simply lower your credit card payments. If you lower your payment alone, you will only be making less progress towards paying off your debt, ensuring you'll be paying on the account for longer. You must find a way to pay down your debt at the same time as lowering your payments.
One way to be able to pay down your debt is to get lower interest on your accounts. This would allow you to put your payments to better use as a greater portion of them would be able to go towards paying off the principle and not just the interest. You may be able to do this on your own, but in many cases you'll find that you'll need help to negotiate lower interest rates.
A debt management plan is a way to lower your interest rate and lower your monthly payment, in many cases. Because the debt management company can work with your creditors to negotiate a lower interest rate, the payments you make each month will be more productive, even if you might be able to pay less.
Another benefit of the debt management plan is that you only have to make one payment each month. This will save you time as well as money. It also provides you the accountability you need to pay down your credit cards.
By working to pay off your credit card bills, you won't have to worry about paying credit card payments in the future. Once you are free of credit card debt, you can use your entire paycheck to pay or save for current and future needs and desires.
Related Tags: credit card debt, debt management plan, low card interest, lower credit card payments
Ronnica Rothe is a graduate with honors from the University of Oklahoma and a current student at Southeastern Baptist Theological Seminary. She works with lowcardinterest.com to help individuals get out of debt and reach their financial goals.
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