The best way to reduce your credit card debt is to control your money. First stop using your card except for emergencies (real emergencies such as a tow truck in the middle of the night). This is the first and most important step to get out and stay out of credit card debt.

After you have stopped using the card, you must begin paying your debt. Every month make the minimum payment and some extra. The less debt you have, the less interest you have to pay, and the easier it is to get to the $0 balance.

If you don’t have enough current income to make the minimum payments plus some extra, then you may have to change your lifestyle or take a second job. Still not enough? Take a little bit out of your savings account each month, borrow from your family, get a home equity loan or sell some of your belongings.

If you have no income or paying your credit card payments is impossible, try getting a credit counselor or entering a debt management plan. Look here for how to get these: http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre26.shtm

Also, the Federal Trade Commission has a lot of good information on getting out of debt here: http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre19.shtm



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