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HomeBlog Credit Card Debt24 Ways to Get Rid of Your Credit Card Debt Fast
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24 Ways to Get Rid of Your Credit Card Debt Fast

December 11, 2012 by National Debt Relief

Bills stamped PaidCredit cards can be both a blessing and a curse. It all depends on how you use your credit card. Misusing them can lead to serious debt while using them wisely can make life easier and better for you and your family. Unfortunately, a large number of people misuse their credit cards and end up with huge chunks of debt. Listed below are 24 ways to get rid of your credit card debt.

Take Stock

Calculate how much you owe so you will know exactly how much debt you have to pay off. You can work towards reducing your debt if you are not certain of the figure.

Improve Your Rates

Contact your creditors and negotiate for lower interest rates and payments. You may be surprised at how much you can save at the end of each year. Use the money you have saved to pay off the debt. Try to pay more than the monthly minimum amount to get out of debt fast.

Track Your Spending

Make a detailed list of your expenses and divide them into various categories. Review the list and do away with unnecessary items. Your expenses will be reduced so you will have more money that you can channel towards paying off your debts.

Create a Budget

Use the services of a credit counselor to help you work out an effective budget. Change your attitude towards spending. Do not buy something because you want it but because you really need it.

Stash Your Credit Cards

While working towards reducing your credit card debt, try not to use your cards to prevent debt from piling up. Instead, use cash to make purchases because you can help you better track where your money is flowing so you will not overspend.

Tap into Home Equity

Use home equity loans to pay off your credit card debt. Only homeowners can use this method to pay off what they owe. Ensure that you pay back the loan to prevent your home from being sold off to recover the debt.

Sell Your Clutter

Gather items that you no longer need such as furniture, old clothes and electronics. Sell them with a yard sale or through Craigslist or eBay. You will earn extra cash that you can use to pay off what you owe.

Get a Second Job

If your income is not enough to sustain you, get a part time job. If you are not earning enough, this means you cannot pay off your debts and they will continue to accumulate. Channel the extra money you earn with a second job towards paying off your bills.

Keep an Emergency Fund

Do not use your credit cards to pay for emergencies as they can be very expensive. Have an emergency fund, which should be the equivalent of 3 to 6 months of your monthly income.

Make Money from a Hobby

If you are good at doing something such as singing, use this talent to make more money. Use the money as opposed to credit cards to pay for expenses.

Do not Skip Payments

Ensure that you pay your debts on time to prevent them from accumulating. You can put a reminder on your calendar or smart phone, which will help you remember when the due date is near.

Adopt Frugal Living Habits

Living frugally helps you to reduce your expenses. You will not have serious debt problems because you are not accumulating any debt.

Cut Back on Leisure

This does not mean that you do not spoil yourself. Instead, save for the vacations and trips you wish to take.

Celebrate Small Successes

Celebrating the little achievements you make paying off your debts can motivate you to continue paying off the whole amount.

Reduce Your Bills

Make sure that you switch off electricity if it is not use. You can also do away with your satellite subscription and Internet. If you want to browse the Internet, use the library as this would be cheaper.

Prepare Meals at Home

Eating out at a restaurant is expensive so you will spend more. Cooking at home is cheaper, therefore, you get to save some money that you can use to pay off the debt.

Rent Out an Extra Room

If you have an extra room or a garage that you are not using, you could rent it out to earn more money.

Move to a Less Expensive Apartment

If you are living in a rented house, move to a cheaper house to save money. You can get your children to share a bedroom which is very economical.

Fight Discouragement

There are times when you are in low spirits and you lack the strength to continue. Work harder and you will see that your actions will finally pay off.

Reduce Your Withholding Tax

Reducing your withholding tax can help you have more money on your paycheck, which will help you to pay off bills.

Make Crafts and Sell Them

There are craft items which are easy to make such as gift cards, sell them to get more cash.

Start a Debt Blog

A blogging site will enable you to make more money especially from advertisements.

Use a Calculator While Shopping

A calculator will prevent you from overspending because you deduct every purchase you make.

Debt Settlement

Negotiate with your creditors. If they accept your offer, pay a lump sum and you will be debt free. Debt settlement is without a doubt the best method of getting out of debt because you will end up paying a small percentage of what you actually owed and the rest will be written off. With this option, you can be debt free in less than 48 months.

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Easy National Debt Relief Caller: Austin Transcribed WE 1/17/2021 Austin: Our call may be recorded. What led you to National Debt Relief and why did you choose National Debt Relief over a different company? CARA: Honestly, it was just kind of on a whim. I just saw a commercial, I think, and then looked it up. And we were just tired of living paycheck to paycheck and not feeling like we were getting anywhere with our debt. Austin: What were your thoughts and was wondering as far as like the enrollment process, what process or where are you at this point in the process? CARA: We are almost done. Well, they've paid off almost everything or we've paid off almost everything. We're working on our last credit card. So I think our last payment will be in December, so nearing the end. Austin: Do you remember the name of the negotiator? I'm sure you've probably worked with a couple of people, but what's the name of the negotiator that you worked with? CARA: Well, I didn't really, I guess really work one on one with like one negotiator. I don't think. We just got email saying, "This is where we're at with this. Do you agree?" you know, type situation. Austin: Do you feel that there's anything that maybe the negotiator did well or anything that they could have improved? CARA: No, I don't think so. Nope, I don't think so. We've been happy with everything so far. Austin: Have you seen any positive impacts from working with National Debt Relief, just to kind of notice any changes to your life? CARA: I mean, definitely less stress, and then we've just been able to be better about our spending and our budget and everything. It helped get us on track. Austin: How would you rate your experience with National Debt Relief on a scale of one to five, where five means you would recommend to friends and one means very dissatisfied? CARA: I'd say 5. Austin: Would it be okay if we shared your comments as a review on our public site with a first name and city only, they're for National Debt Relief and to help other consumers make good choices? CARA: Probably not. I live in a smaller area. If anybody were to hop on and say Cara from Beddington, they would probably know. Austin: We can definitely remove that 'cause we very much respect your privacy. So we can either remove the name and just do a ‘C’ or completely remove the city and just do like ‘Cara from the USA’ whatever -- mainly comments than identifying you, I guess would be important. CARA: Yeah, I don't care if you use like my name and just put USA. I just don't -- where I live, it's not a very big area. Austin: I can totally respect that. Not a problem at all. CARA: Yes, we are a little bit of ashamed of having to go this route, but it was what was best for our family at the time. Austin: Would you like us to email you a link to that review whenever it's published? CARA: Yeah, that'd be great. Austin: Our call may have been recorded.

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