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If you are like me, you have built up a high credit card debt. I know, I know, we’ve all heard THAT before. Right? What bill am I going to juggle this month? I bet it’s driving you up the wall.
Alright, take a chill pill. Don’t be so fast to file for bankruptcy. Bear in mind that it’s most advantageous for your creditor to work with you to bring things back into line.
Below are some ideas on helping you to control your credit card debt:
First, get ahold of your credit card issuer and let them know of your circumstances. Ask them to lower your credit card’s interest rate, or for a reduced payment plan to repay. It’s quite possible that this may not have crossed your mind because I’m sure you are naturally polite. It is in your best interest to remain courteous when dealing with your creditors. Be firm, and polite, but present yourself in a manner that tells them you know exactly what you are looking for and that you expect to receive it. If you are not sure about what you are asking for, perhaps you might want to consider contacting a consumer credit couneling service with a reputable reputation. There are lots of trustworthy firms in business where the main purpose is to assist you in negotiating with your creditors.
Next, quit using the credit cards. Shred them, light them on fire (safely of course in a well ventilated area), or cut them up. Do whatever is required to keep you from using them. It will not help for you to continue feeding the problem by making even more debt.
This step can prove to be the most difficult of reducing your credit card debt. Being addicted to spending money that you don’t have available to spend. You have to quit- NOW.
Start by paying off the credit cards that have the higher interest rates. Work from there. How would you do that? Concentrate your efforts on the high interest rate credit cards by paying more than the minimum payment that is due each month. That payment is just designed to keep you obligated to the credit card companies for the longest amount of time possible.
The credit card companies aren\’t in business to lose money and it\’s in their best interest to keep you paying them for as long as possible. Even a small amount extra each month pays off in a big way in the long run.
Finally, keep holding your chin high and keep looking up. Lots of people such as yourself have started and successfully cut their credit card debt using these very steps. You can too!.
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