How to Fix Credit Card Debt

In these times people maybe falling behind on the credit cards but No fears! It’s easy to fix! Debt consolidators hurt your credit score and the credit card companies will close your accounts if you use them. There is a better way!

Difficulty: Easy

Instructions

Things You'll Need:

• Your card statements.

1. First gather all your cards and statements and calculate how much total credit card debt you have. Put your cards in your sock drawer so you are not tempted to use them.

2. If you are paying more than the minimum on each card then you’re on the right track. Chose the card with the smallest balance and focus your extra payment money on that card first.

3. Make the minimum payments on all the other cards and use the remaining money from those payments to pay the smaller card off quicker.

4. Once that card is paid in full then you move on to the next smallest balance until all of your cards are paid off.

[vernk]

on 7/2/2009 patience and delayed gratification. just do as the article says. good info!

[joni04]

on 2/5/2009 We are trying very hard to do away with using credit altogether and saving up for major purchases. Why spend more then you have too? 5*

[funmom970]

on 1/28/2009 lets hope i can accomplish this!! good advice

[BrianMRoss]

on 1/20/2009 Not only did I do this... I am now debt free! Great article!

[mark1967]

on 1/17/2009 Thanks, good stuff.