How to get out of Credit Card Debt?
Wednesday, September 30th, 2009 at
2:26 pm
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Tagged with: credit card debt • Credit Debt • Filing Bankruptcy • How To Get Out Of Credit Card Debt
Filed under: Free Money Saving Tips Debt Relief
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1. Throw away your credit cards
2. Pay the minimum balance on each (if you have more than one)
3. Try and pay the smallest debt off first… then take what you would normally spend and tack it onto the next debt.
example:
you owe $5000 on MasterCard… minimum payment is $130.
You owe $8000 on Visa… minimum payment is $240.
Total monthly: $370.
Once the $5000 is paid off, take the $130 and add it to the $240… Visa payment would be $370…
and so on.
It will cause some honest sacrifice, but you will be able to pay your debt off a lot sooner.