Credit Card Debt Reduction 3 Tips To Lowering Credit Card Debt by toriola1


									                                                   Presented by Daniel Toriola

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                          Credit Card Debt Reduction - 3 Tips To Lowering Credit Card Debt
                                                                  By Carrie Reeder

   Credit card debt can be reduced through lower rates or negotiating for reduced balances. With
reduced interest, you can pay off the principal quicker with the same monthly payment. The other
approach is debt settlement, which eliminates part of your debt at the cost of your credit score.

1. Transfer Balances

Credit card companies are always offering introductory deals, such as 0% on transfers. Usually such
offers last for several months, giving you the chance to make sizeable payments on your principal.

If you have several credit cards, choose to transfer the account with the smallest amount. Pay off that
account, then take that card’s monthly payment and apply it to your next lowest balance. Soon you will
be creating a snowball affect, swiftly lowering your debt. Make sure to close paid off accounts to raise
your credit score and keep from adding to your debt.

2. Negotiate Lower Rates

Credit card companies are also willing to lower rates. You can try to do this on your own, but you will
have more success with a debt management company. For a monthly fee, they will lower rates with
credit card companies and handle your monthly payments.

Debt management plans can affect your credit temporarily if your creditors report delayed or reduced
payments. This might prevent you from opening new accounts for a year or more. However, with such
plans you can be out of short term debt in less than five years with a much better credit score.

3. Settle For Reduction In Debt

Debt negotiation is the most drastic step to lower your credit card debt since it has long term affects on
your credit. A debt negotiation company can settle some of your debt with creditors. Lenders will then
report the reduced amount to the credit reporting agencies, which will keep it on your record for seven
years. Debt negotiation is similar to bankruptcy and can prevent you from qualifying for conventional
credit for a couple of years.

How To Get Out Of Credit Card Debt
Start getting out of credit card debt today with 7 Easy Steps to Getting Out of Credit Card Debt.
                                                                                                                   Page 1
                                                 Presented by Daniel Toriola

Reducing your credit card debt will have long term benefits for you. Less credit means better rates
when you do want to apply for financing, especially with a home or car purchase. No matter which
option you choose, research companies carefully and compare their services and fees.

View our recommended companies for Credit Card Debt Help

Credit Card Debt Relief
Sells Multi-media info product on debt relief.
                                                                                                      Page 2
                                                   Presented by Daniel Toriola

                                     It Takes Planning To Get Out From Under Card Debt
                                                              By Deanna Mascle

Yes, you can get out of credit card debt. If you are determined to get out of credit card debt you surely
can get out of credit card debt. Though it’s a bit difficult to get out of credit card debt, it isn’t impossible.

All you need to get out of credit card debt is determination and planning. Both are equally important (or
maybe determination is even more important). Determination doesn’t come without proper reason. So,
you need to first ask this question to yourself – “What will I get if I am able to get out of credit card
debt?”, “What difference will it make”, “What’s in it for me” or “Is it really beneficial to get out of credit
card debt”.

Use the answers to build your determination. The fact that all the nagging via mails/phone (by the
credit card supplier and/or their collection agent), will be gone, should do good to strengthening your
determination and should provide you with a reason on why you should endeavour to get out of credit
card debt.

Think about the stress-free life after you get out of credit card debt. Try to link various reasons together
and try to see the benefits through them. All these collectively will help in bolstering your determination
and prevent it from getting weak at any point in time.

The second thing that you need to get out of credit card debt is planning. The planning to get out of
credit card debt will start with making a list of the credit cards that you currently posses and noting the
debt and the APR for each of them. The sum total of all these various credit card debts, will give you
the total credit card debt.

You also need to check if you have been defaulting on payments on some of these credit cards (and
hence incurring a late fee). You will need to avoid that and put it on the plan you have prepared to get
out of credit card debt.

The next step in getting out of credit card debt is to check your current financial position and make an
assessment of what you expect your future financial position to be. Next comes the research to check
the various balance transfer offers available in the market; to see if one of these can prove beneficial to

Use all this information to calculate how much time you will require to get out of credit card debt and
how you will distribute the debt payment across your various credit cards (ensuring that you payoff the
debt that is hitting you the most and also ensuring that you don’t incur late fee on any credit card

Learn more about self help credit repair at

How To Get Rid Of.
Eliminate credit card debt legally, morally, and ethically.
                                                                                                               Page 3
                                          Presented by Daniel Toriola

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