Query by Twin father: What is the ideal solution for credit card debt?
What is the very best remedy for credit card debt?
I am way in over my head, I have six credit cards and I am more than $ 40,000 in debt. I have tried to take out a loan at the bank to consolidate but i got turned down. I need Assist!
Very best solution:
Solution by ♥♥Laura♥forever with you♥
Quit! just quit and take a breath. place them in the garbage!!! throw them AWAY!! thast the only way it will get far better. OR stop spending it !!! get a couple of jobs to pay out it all off
Give your answer to this question beneath!
{ 6 comments… read them below or add one }
You have credit card debt, and you wan to pay it off as quickly as you can. We will assume that you are going to stop creating more debt. You have changed your ways. You also understand that paying credit card balances with a consolidation loan or rolling it into a mortgage isn’t paying it off. In fact, paying a lower interest rate, but paying on the debt for many more years, usually means paying much more, not less.Okay, so you really want to be rid of that credit card debt.
http://credit-cards.awardspace.com/
First, you have to understand that not all debt is the same. Of course you know this. Some of your cards have a higher interest rate than others.Find and budget the money to start paying down those balances. If you order pizza every week, for example, you may be spending $ 60 or $ 80 per month right there If you are serious about getting those debts paid, you may have to eat $ 4 frozen pizzas for now. Do what you have to do, and determine how much you can apply towards the debt each month.
To be honest a loan isn’t your answer. Why would you consider taking on debt to pay off debt??? What you need is a plan. Your debts aren’t going to go away on their own so it’s important to own up to what you owe and who you owe. Might I suggest a trip to the library to take out books by Dave Ramsey. His plan works … it’s not a scam. It’s a way out of debt. He’s a little sarcastic but he’s truthful. Get rid of things you don’t need in your home and in your budget. Take on a second job. Clip coupons. Stop using your credit cards… don’t cancel them but don’t use them either. You didn’t go into debt overnight so you won’t get out overnight either. Believe in yourself. The goal is debt free not living in refinanceville. Be smart and be strong. Tackle that debt one dollar and one day at a time. The rest will fall into place.
You have heard it before. Pay minimum on all your cards. Take the smallest amount you ouh on one and double or triple the payment. When it is payed off cancel that credit card. Then take on the next in line. Put the money you were paying on the one you just paid off and apply it plus the payment you were making on that card. The hard part is the first card, after that it begins to gain speed. The main thing is not to use the cards any more, leave them at home. If you do not have them you can not use them. And to cancel them as soon as you make that last payment.
I was in a situation not unlike yours, I owe about $ 20,000. After getting screwed from Fresh Start America, (they took $ 1500 from my checking account, and paid NOTHING) I got involved with greenpath. They contact the companies you have debt with, and work to keep or make your accounts current. You will have to work out a budget with them, but they can help, and they have debit counselors that you can talk to if anything comes up. They have been accredited by the BBB, and some other good certifications. Check out the website…
Hi Twin father.
I actually own a debt settlement credit company called AG Debt consultation We do what Shannon above is referring too and we are quite successful at it. If you would like some free advice or for me to look a little more into your situation go ahead and give me an email.
My email is agdconsult@gmail.com
I am Aaron
your best option is debt settlement this will cut your debt up to 70% and give you some room to breath and make smaller payments, check out http://www.creditservicesolutions.com they will give you a free analysis.