Is there a magic formula to get out of credit card debt, other than cutting the cards up and paying cash only?

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no magic, only moderation. Turning away from credit cards is also harmful. For optimum credit you need to have open cards on your bureau report.

The only way out is to moderate your spending and look at credit cards as a tool of last resort.

Try it, you'll find it liberating.

I hope this helps you:

Credit Card Debt Management
http://www.debt-explained.com/category/Credit-Card-Debt-Management.html

Yes, you can earn more. If you are busy working extra hours, you aren't out spending. Since you are earning more, you can pay down your debt quicker.

change your name,move countries,sell your body
other than that,no

Magic way? NO! First you need a plan. Tak all your credit cards and on one peice of paper in columns write home much you owe on each, what he interest rate is for each and what the minimum payment is for each. Then determine how much money you can pay in total monthly payments. And don't be cheap, set aside alot for payments if you want to get out of debt even if it means sacrificing something you "think" is a neccessity. Now you can either pay double the minimum on all the other cards and then a large amount to the card with the highest interest rate. Or you can pay the minimum on all cards and the divide the large amount between the card with the highest interest and the card with the lowest balance (so that you can see some progress as this can be paid off quicker than others) and no new charges! Credit cards are for conveniece but really they should be used for emergencies and large IMPORTANT purchases that you may need a month or 2 to pay off, other than that do not charge what you cannot pay off in a month.

Are you LOOKING for a smart ase answer? Because it really sounds like it.

Option 1: Steal someone else's credit card, and pay off your debt with theirs. WARNING: Tends to cause legal problems.

Option 2: Die, and have a voodoo priest reanimate you as a zombie. As you have a legal death certificate, you will not be responsible for any debts accrued in life. However, as a member of the rank and file of the undead, you will also have no legal rights... and may have trouble getting a date. Also, you'll be a soulless slave for all eternity... but at least you won't be the credit card companie's soulless slave.

Option 3: Quest through the deserts of Har 'Akir until you find the horadric cube. This mystical device will allow you to engage in alchemical tranmutations. Most notably, any three damaged gemstones can be converted into one larger, and more perfect gemstone. Sadly, the desert of Har 'Akir, and the Horadric cube are both fictional items, so this only works in dreamland... or when playing certain videogames.

Option 4: Use the toilet as an alchemical cauldron to summon a feces golem who will work for you. Filling out job applications is hard for a feces golem, but they can do most menial tasks, such as working for fast food, or serving on janitorial staff. At minimum wage, you'll probably need five or six of them in order to live above the poverty line. Also, clothing them can be expensive, and finding bosses with the right combination of poor eyesight, bad noses, and no respect for the customer is... oh yeah, that's the easy part. It's filling out all those golem job applications that is hard. Hell, not even humans can fill out job applications right. Oh, and there's that whole thing about selling your soul to satan so the summoning works... whatever. A roommate gave me the incantation for summoning a feces golem, but I don't think it works, and it's a little risky to just slap it up here.

Option 5: Instead of cutting up all your credit cards, make yourself a silly little book that will allow you to keep track of your balance. Get a little lined note book, and then divide the pages up into a few horizontal columns:
Date, Location, Cost, Current Balance. You'll need to write in everything that would reduce your account balance: Utility bills, cash withdrawals, checks you wrote, and purchases. Writing all this silly stuff down is likely to make you prefer to pay in cash. After all, if you just pull out a cool thousand (or hundred) dollars cash, that's one entry, instead of fifteen different entries from a day of shopping with the card. Also, due to interest rates, direct deposit, direct payment, etc. it's not always possible to be 100% accurate with such a system. On a monthly basis, it tends to be pretty close though, so long as you factor all these random possible costs into the budget.

Nah, better to just sell your soul and create an army of mindless constructs to do your bidding... except that would require filling out an army's worth of job applications.

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You need to start with the higher interest rate card and pay it off first, by whatever amount you can, and in the meantime continue to pay off your other cards with the minimum payments.

Then after the first card is paid off, you go to the second-highest rate card and do the same thing, until they're all paid off.

If this isn't going to work for you, I recommend you contact your local office of Consumer Credit Counseling (look in your phone book), who can get your interest reduced to at least a lower rate and theyll manage your debts for you. But you have to be able to show you can pay money towards your cards each month in order for them to help get your debts paid.

The interest rates they can negotiate is somewhere around 9.9%.

I took my credit card, put it in a glass of water and stuck it in the freezer. Then I made paying it off a top priority-am now paid in full.

good luck- i know it is tough.

uh... I think denial is a remedy... a bad one... but a remedy nonetheless...

One thing you can do is talk to the credit card company. If you have a way to pay half of the bill they may accept that as full payment and drop the rest. This is a pretty common practice that they use so that they can recover some of the funds they are owed.

Good luck

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