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That is of course without it hurting your credit 2much.
That is of course without it hurting your credit 2much.
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6 Comments Received
February 17th, 2009 @8:20 am
Getting out of debt isn’t going to hurt your credit, unless you mean that you would pay only one or two of the cards at a time…Pay off your cards that have the highest interest rate first. Don’t use your cards, or cut all of them up except one for emergencies, but don’t cancel the accounts, as this will hurt your credit rating. The only way out of debt is to pay it. Get a 2nd job and use all that money towards your credit card debt. If you can get a 0% credit card, transfer the balance.
February 18th, 2009 @8:12 am
Let me guess hmmmmmmmmmmmm PAY THEM
February 21st, 2009 @8:37 am
If you’re deep in credit card debt you’ll have to sit down, write out a plan to get out of debt, and stick to it. Don’t do anything without a simple written plan that you see everyday. It also seems like you need to change your spending habits as well.
For instance, if you know you don’t have the self-discipline to avoid going on spending sprees with your credit card your plan should be cut up the cards, pay off the accounts, and close most or all of them when you pay them off. You’ll have to make sacrifices to pay it off faster, like lowering your standard of living or working another job or both. Accept that reality because ignoring it will make things worse in the future. A friend of mine had a lot of credit card debt but he didn’t like my and another friend’s advice to cut up the cards, work 2 jobs for 1 year straight, pay it off, and live within his means from then on. He’s gone from bad to worse and he’s still digging himself into that hole.
February 24th, 2009 @3:46 am
First you have to stop using the credit cards and budget to pay down some of the existing debt monthly. Pay more than the minimum to make the most head way. If you need to use a credit card to pay recurring expenses, make sure you pay the current months charges plus atleast the minimum amount due monthly.
Example:
Balance $5000
Monthly Minimum Payment $120
Current charges posted to the account $200
Minimum payment required $320
February 24th, 2009 @12:37 pm
i went through a settlement company that was wonderful!!! it will lower your credit while you are in the program but your credit will go up higher than before when they are all paid off. I felt so strongly about this site and how good they were to me i made a lense on squidoo. When you join there program you turn it all over to them, and you never have to deal with harrassing creditors, what you are and are not paying this month. Just pass it over to them and let them deal with it. depending on your situation and what you can pay they can have it all paid in 1-5 years at around 1/2 of what your debt is. good luck and check out the review for more about provanta.
February 25th, 2009 @1:57 pm
Make a budget. If you seriously watch what you spend and how you spend your money, you’ve probably find that there are things you can just cut out. Wasteful spending of a couple of bucks here and a couple of bucks there and soon can add up overtime. And when use credit cards, you get hit with interest on stuff that you would have long forgotten about.
It’s easy to make a budget, but it’s hard sticking to it. But after awhile you just get accustomed to it and it’ll be easy to SAVE money for all the good things yet to do in life.
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