See Saw
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If you are caught in the credit card debt trap, approach a debt consolidation company for help, instead of paying high rate of interest to your card issuer. Most of the debt consolidation companies provide loans to help you tide over the credit card debts. These loans are known as credit card debt consolidation loan. The advantage of this loan is that you are charged a low rate of interest. The difference between the interest charged on the credit card and the interest on the credit card debt consolidation loan is substantial, saving you quite a big sum of money. |
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Pravda
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You'll need to access your accounts to form a payment schedule. You'll need to spend some money on a 3 in 1 credit report if you haven't already. This is so that you can have a starting point and a goal to build up to! If you want to learn more ways to rebuild your credit then visit
http://www.thecreditrepairmanual.com
Good Luck, |
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The Debtonator
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If you are truly suffering a financial hardship I would recommend a debt settlement company. They are different than credit counseling in the regards that they negotiate settlements on the entire balance of debt rather than just the interest.
Program length is under 3 years normally and you settle with creditors at around 40 - 60 percent of the entire balance owed.
Do your due dilligence and find a reputable company. One that is a member in good standing with the BBB and TASC. |
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stopccdebt
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You should first stop using them to see if you can get by on your monthly budget without having to depend on credit cards. It is likely that you are charging some items just to save enough money to afford the minimum payments.
Eventually this will catch up with you and it will cause your finances to spiral out of control. It sounds like you might be close to this point.
I recommend meeting with a credit counselor to discuss your budget and look at your financial situation. A reputable agency that you can visit in person is a good place to start. Good luck! |
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SPIFIMAN1
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The simple answer is to pay your bills.
But if that were a option, you would not be asking this question, so try contacting Consumer Credit Counseling Services, they are free and will work with your creditors to lower both your monthly payment as well as your interest rate.
I used them several years ago and was debt free in 36-months. |
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beauty s
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stop using your credit cards.. pay them off |
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lilpuppy6
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"Spifiman" is on the money with his answer.
To add to his answer... i recommend using greenpath.com. (it's really the same company spifiman recommends, but they also go by this name).
They are a trustworthy non profit group of counselors who help people in your situatuion.
Within a year or two you will be debt free if you follow their plan. Good luck. |
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Lesleann
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Try a reputable credit counseling business. If you go this route, you will make one lump-sum payment to the CC. They will figure out what all your bills are, living expenses, etc.. You will need to drastically change your lifestyle to rid yourself of this. |
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Brain of JFK
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Man, stop spending.... Control your spending habits. Earn more than what you can spend. |
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