Most Americans have too much credit card debt. Duh, we've all
heard that before, right? Only now its gotten a bit personal... right again?
You personally have too much credit card debt and its about to drive you crazy.
Well there IS hope so don't file those bankruptcy papers just yet.
One major thing you have to keep in mind is your creditor is probably
very willing to work with you. Its in their best interest to have you
making some payment versus no payment. So here are a couple points to
help you deal with your credit card debt.
The first thing you have to do is simply contact your creditor and let
them know your situation. Ask for a lower interest rate or a repayment
plan. You might not have thought of it because you're just naturally
so polite but its a very good strategy to be courteous at all times
when negotiating with your creditor. Polite, but firm. Come across as
one who knows what you're asking for and expect to get it. If you're
not sure what you're asking for in the first place you might consider
a reputable credit counseling service.
There's a lot of great, honest organizations out there whose mission is to
help you work things out with your creditors.
Next you've GOT to stop using your cards. Cut them up, freeze them in
a tub of water, whatever you need to do to get them out of your wallet
or purse, do it! You simply can't keep adding to the problem by running
the debt up any higher. This is actually one of the hardest parts of
cutting your credit card debt. Its like you're addicted to spending
money you don't have. So go cold turkey and drop the habit.
Start paying the ones with the highest interest rate first and work
from there. How do you do that? Concentrate on those high interest rate
cards by paying more than the minimum balance each month. The minimum
is just designed to keep you on the hook longer anyway. The credit card
companies are in this business to make a profit and want to have you
paying them for years to come. Even a little extra each month makes a
big difference in the long run.
Lastly, keep your chin up and have a good attitude. Millions of folks
just like you have begun to cut their credit card debt by following
the common sense steps outlined above. You can do it too. Good luck.
by: Richard Townsend
heard that before, right? Only now its gotten a bit personal... right again?
You personally have too much credit card debt and its about to drive you crazy.
Well there IS hope so don't file those bankruptcy papers just yet.
One major thing you have to keep in mind is your creditor is probably
very willing to work with you. Its in their best interest to have you
making some payment versus no payment. So here are a couple points to
help you deal with your credit card debt.
The first thing you have to do is simply contact your creditor and let
them know your situation. Ask for a lower interest rate or a repayment
plan. You might not have thought of it because you're just naturally
so polite but its a very good strategy to be courteous at all times
when negotiating with your creditor. Polite, but firm. Come across as
one who knows what you're asking for and expect to get it. If you're
not sure what you're asking for in the first place you might consider
a reputable credit counseling service.
There's a lot of great, honest organizations out there whose mission is to
help you work things out with your creditors.
Next you've GOT to stop using your cards. Cut them up, freeze them in
a tub of water, whatever you need to do to get them out of your wallet
or purse, do it! You simply can't keep adding to the problem by running
the debt up any higher. This is actually one of the hardest parts of
cutting your credit card debt. Its like you're addicted to spending
money you don't have. So go cold turkey and drop the habit.
Start paying the ones with the highest interest rate first and work
from there. How do you do that? Concentrate on those high interest rate
cards by paying more than the minimum balance each month. The minimum
is just designed to keep you on the hook longer anyway. The credit card
companies are in this business to make a profit and want to have you
paying them for years to come. Even a little extra each month makes a
big difference in the long run.
Lastly, keep your chin up and have a good attitude. Millions of folks
just like you have begun to cut their credit card debt by following
the common sense steps outlined above. You can do it too. Good luck.
by: Richard Townsend
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