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

---

Taking The Plunge Into Bankruptcy

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

Corporate Debt Management ? Perspective on the Why

Entrepreneurs have a tough time in their formative years. They... Read More

How To Get Out Of Debt

If you have found yourself in a position where you... Read More

Bankruptcy 101

Bankruptcy still remains a mystery in the eyes of many... Read More

Are You SURE Your A Bad Debt?

Many people who seek the advice and guidance of debt... Read More

Is My Credit Card Debt A Problem?

For most Americans, credit card debt is a dangerous and... Read More

New Bankruptcy Law Makes it Harder to Stop Foreclosure

On October 17, 2005 President Bush's sweeping bankruptcy reform law... Read More

Utah, the Nation?s Bankruptcy Capital

Congress recently passed the Bankruptcy Abuse Prevention and Consumer Protection... Read More

Free Quick and Easy Money Saving Tips ? Part 1

With the high cost of gasoline and the amount of... Read More

The Road to Debt Relief

Living with debt is not something someone hopes for, but... Read More

Should You Invest In Savings Or Payoff Your Debts?

I have faced this financial question 8 years ago and... Read More

Life After Debt ? Strategies for Dealing with Problem Debt

Honorably and ethically rid yourself of burdensome debts using the... Read More

Home Equity ? Foreclosure Often Not Necessary in Current Market

While driving around your community, you may have seen signs... Read More

Five Major Ways to Save Money

There are two main roads to improving your personal finances:... Read More

Debt Management Systems

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

Stop Debt Collectors

Can you stop debt collectors ? . . .You better... Read More

Life After Bankruptcy

Bankruptcy and Credit - What Happens After Your Debts Are... Read More

Bankruptcy Abuse

Bankruptcy is little more than a smack on the hand... Read More

Debt Relief with this Simple Formula

Is there a way to get out of debt without... Read More

Is There A Way Out Of Your Debt Problems?

Do you have multiple debts? Do you have just one... Read More

Getting Past The Idea Of Budgeting & Saving Money

I'm sure you'll agree that budgeting, saving money, and eliminating... Read More

Debt and Financial Optimism in the UK Continue

With £1.3 trillion pounds worth of debt in the UK,... Read More

Learn The 15 Debt Elimination Steps You Must Take Immediately!

What Everybody Needs To Know...Learn The Truth About Debt Elimination... Read More

Credit Card Debt Elimination

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

Reducing Debt Before Its Too Late - How to Avoid the Pitfalls of Creeping Debt

Reducing debt usually isn't a high priority for people until... Read More

Debt Collectors: Men or Mice?

Who are these people anyway? They viciously harass you and... Read More

5 Methods Toward Reducing Your Debt

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

Dealing with Thingitis

Debt is quickly becoming an epidemic in America. However, through... Read More

Out of Credit Card Debt - Without Filing Bankruptcy

To be out of credit card debt is your dream... Read More

IVA: Individual Voluntary Arrangement

What Is an IVAThe IVA (Individual Voluntary Arrangement) was introduced... Read More

Senate Passes New Bankruptcy Law

The United States Senate passed a law on March 10,... Read More

Different Ways Of Dealing With Debt

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

What is Bankruptcy?

Personal bankruptcy is a legal way to give people with... Read More