Credit Card Debt Elimination

Credit card debt elimination can be done with a good plan and a little patience. The important thing is to find what works best for you and stick to your plan. The rewards are well worth it and you'll save yourself a lot of money in the process.

You can choose to either start paying off the credit card with the highest interest rate first or you can get rid of the credit cards with the smallest balance first. The important thing is to know exactly how you are going to approach your credit card debt elimination before you begin.

First, set a realistic budget for yourself to lower your spending in all areas and stick to it. Living by your budget will help you pool your available cash for your credit card debt elimination plan.

The most important you must do immediately is eliminate your credit card spending. You can never succeed with credit card debt elimination if you continue to add to the outstanding balance. The interest on that debt added with a climbing balance will make credit card debt elimination impossible.

It's important to pay your credit card bills on time and always pay more than the minimum payment on the bills you want paid off first. Paying the minimum payment doesn't eliminate that high credit card interest rate. That's exactly what the credit card companies want because they are making a killing off of that interest.

If you are concentrating your bill paying efforts on one bill at a time, then you should still pay at least the minimum on the others. Once each bill is paid redirect your resources to the next bill so your credit card debt elimination can become a reality.

A tip that some have been successful with is contacting creditors to ask for a lower interest rate. Even if most creditors say no what if some of them say yes? The interest savings to you will multiply your credit card debt elimination efforts and save you money. It's worth a few phone calls and your time to try this.

One last tip is, if you choose to close your credit card accounts, do not close them until after the bill has been paid. Some credit card companies often will penalize you by raising interest rates if you close an account that carries an outstanding balance.

The most important thing to remember is to begin your plan right now. Think of how you will feel when you are finally free of high credit card interest. The sooner you start, the sooner your ultimate goal of credit card debt elimination can be accomplished.

This article is supplied by http://www.credit-repair-facts.com where you will find credit information, debt elimination programs and informative facts that give you the knowledge to correct your own credit and credit report. For more credit related articles go to: http://www.credit-repair-facts.com/article s_1.html

---

Different Ways Of Dealing With Debt

Bills, creditors, debt collectors. Are you yearning for the days... Read More

Student Loans Can?t Be Swept Away Through Bankruptcy

Bankruptcy is in the news these days, as Congress has... Read More

Debt Relief -- Why Most Programs Have A 75% Failure Rate

Debt consolidation, equity loans, credit counseling, debt management plans, even... Read More

Learn The Five Key Debt Reduction Steps You Must Take Immediately!

Step 1. The purpose of this first step is to... Read More

How to Get Money When You Are Broke

(Money You Don't Have to Pay Back) 1. One way... Read More

5 Methods Toward Reducing Your Debt

Decreasing your debt is paramount to having a good credit... Read More

IVA Information

If you're thinking about an IVA, it is essential to... Read More

The Simple $10 Debt Elimination Solution

Ask a friend what resolutions they made for 2004 and... Read More

Bouncing Back from a CCJ

Should you be unfortunate enough to face a CCJ ?... Read More

Personal Bankruptcy: Last Option To Legally Stop Bill Collectors

Do you have stacks of unpaid bills?Are you in debt?Are... Read More

Credit Card Debt Elimination

Credit card debt elimination can be done with a good... Read More

Five Hot Tips To Get Out Of Debt Forever

The financial and psychological burden of being in debt causes... Read More

Debt Free Living - 5 Tips To Get Out Of Debt

A few times I wonder what sort of credit system... Read More

The Last Debt Solution Should Be Bankruptcy

A debt solution like bankruptcy should really only be used... Read More

Credit Card Debt: How to Get Rid of It

This method is simple, but requires some discipline.First, you have... Read More

Taking The Plunge Into Bankruptcy

Bankruptcy is one of the most difficult things a person... Read More

Is Independence Overrated?

Happy Independence Day from The Money Motivator!If you don't celebrate... Read More

Bankruptcy ? Bankruptcy Myths

Bankruptcy has long been a big question mark in the... Read More

Life on a Debt Management Program

Signing up for a debt management program is easy; it's... Read More

Top Ten Reasons People File for Bankruptcy

1. Eliminate the legal obligation to pay many of your... Read More

IVA Advice

An IVA (individual voluntary arrangement) is an alternative to bankruptcy... Read More

Debt Management Systems

What is a debt management system, and when do you... Read More

Reduce Your Debt With These 5 Tips

It's never pleasant to realize that you're in financial hot... Read More

Future Secured? Oh Really?

A headline for a retirement annuities flyer declares "Future Secured!"... Read More

Debt Elimination

If you're reading this article right now I'm sure that... Read More

How To Avoid Medical Collections

With medical collections costing doctors millions upon millions of dollars... Read More

The Human Side - Debt Stress

In all the technical discussion you hear about credit... Read More

Your Ticket Out of Debt Relief

If you are in debt over your head and wondering... Read More

How to Negotiate Debt Settlements

Knowing how to negotiate debt settlements is the key to... Read More

Creating A Realistic Budget

Budgeting -- ooh, what a scary word! If you want... Read More

Is It Possible to Be Sued For My Debts?

It is possible for creditors and third-party collection agencies to... Read More

Assess Your Financial Attitude and Eliminate Your Debt Forever

Want to know if your attitude towards your finances is... Read More

Your Secret Weapon... A Budget

For many, the word 'budget' immediately sends shivers down the... Read More