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How you can tackle large credit card debt

July 3, 2014 by · Leave a Comment 

We rack up credit card bills for many reasons. For some, charging purchases to credit cards comes as a habit and for many others going on a shopping spree once awhile cures innermost desires. If you have huge credit card debt, you can learn from others who were in your shoes before.

Don’t try to pay off your credit card balances with money you don’t have. Instead come up with a reasonable time line that you can pay off your balances given your monthly income and expenses. It could be a year, two years or longer. First, call your credit card companies and ask whether they are willing to work with you by lowering your interest rate. Second, try to raise additional funds by selling unnecessary things lying around your home and use any money raised to pay your credit card debt and not used for anything else. Scale back on your luxury life style and if you can be without Netflix, TV and others, do so. Used the money you save to pay off your credit cards and do not use for any other purposes. Start paying more on the highest interest rate card while paying the minimum on others each month. Soon you will be credit card debt free.

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