Credit Card Relief - Tips For Making Deals With Your Creditors

Credit Card Relief - Tips For Making Deals With Your Creditors

So you are up to your neck in bills and have unplugged the phone because of calls from debt collectors. How did you get in this mess? For most Americans, part of the reason is the easy access to credit cards as quick solutions to immediate money problems. It has gotten easier and easier to get a credit card. Credit card companies don't want you to pay your bills on time. They never make their money that way. They make their money by the interest that you owe. And you can use credit cards for nearly anything these days from getting your first car, paying your utility bills and even with college tuition costs. Don't beat yourself over the head for getting in trouble with your credit card. Relief is possible, if you really want it.

Figure Out How Much You Make

Know that you know you need credit card relief; it's time to feel better by taking matters into your own hands. You need to know how much your household makes in a week, month and year. That gives you an idea of how much you should be spending less than what you make.

Now, How Much Do You Spend?

You need control over your credit card. Relief comes from knowledge, discipline and practice. You need to find out where all the money goes, and how much you spend over your paycheck amount. That can help you save money by knowing what you can cut out (going out to eat, going to the movies, buying clothes you don't need, for example). You also need to know how much you spend using your credit card. Relief might be soon, from knowing where you can cut expenses.

Ask For Help

It's true you never know what you can get unless you ask. You have a right to contact your credit card company and explain your financial situation with them and ask for either a reduction in interest rates or an extension on your bill's due dates. You need to give them definite numbers. You can also shop for credit cards with lower interest rates and give this information (preferably in writing) to your company of your credit card. Relief might be in pointing out to them that you can always move your business elsewhere.

If you are not good with accounts or are in debt over four figures, consider getting professional help in dealing with your credit card company. Many debt relief services will offer free consultations and tips on helping you manage your money. They can then loan you the money to pay off your credit cards. You then pay the debt relief service the loan, but NOT at the interest rates your credit card charges.

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