subject: Credit Card Debt Settlement – 3 Tips That Can Pull You Out Of Credit Card Debt [print this page] Did you know that over 50% of all Americans have credit card debt excess of $10,000? It's no wonder that so many people are looking for credit card debt settlement tips. Here are three tips to not only help you through the process, but also help you get rid of that debt as quickly as possible.
Tip 1: The first thing that you need to do is make sure that you don't make the situation worse. I don't recommend cutting up the cards, because it's better to have them in case of emergency; but I do recommend making them extremely difficult to use. If you freeze your credit card in a giant block of ice, you probably won't be able to impulsively grab it and go to the mall.
Tip 2: Once you've gotten the spending under control so that the debts won't grown any more, the next thing that you need to do is give yourself a general idea what you are dealing with. On a sheet of paper, list all of your debts and what the interest rates and monthly payments are. This will help you decide which debt to tackle first. Some say to go for the debt with higher interest rate, some say to go for the smallest debt; but it's up to you.
Tip 3: The last of our credit card debt settlement tips is to call and offer what you can afford. Keep in mind that debt settlement is almost always for at least 50% of the original debt, but it never hurts to ask. When you call the company, try to get a supervisor that is able to make a decision to help you. This will help you get through your debts quicker and pay them off faster.
Final Note: The debt settlement process can be overwhelming and frustrating. Having a debt relief specialist on your side can greatly reduce the stress. I highly recommend that you obtain a free debt evaluation in order determine the best course of action based on your financial situation.
Credit Card Debt Settlement 3 Tips That Can Pull You Out Of Credit Card Debt
