Eliminate Credit Card Debt Legally – Strategies For Paying Off Credit Cards
Eliminating credit card debt legally will free up funds in your monthly budget. It will also improve your credit score so you can qualify for better rates on future purchases, such as a car or home. To start getting your credit cards under control, lower your interest rates. Then develop a payment strategy. If you need some outside discipline, turn to a debt management company.
Start Lowering Your Interest Rates
High interest rates make it nearly impossible to get a handle on large credit card balances. But by lowering your interest rates, you can increase your payment on those cards balances without increasing your overall payment.
The two most common ways to reduce your rates are to open a new credit card or consolidate with a loan. Transferring balances to an introductory low or no rate card is a no cost solution. Consolidating bills with a home equity or personal loan provide long term low rates with some closing costs involved.
Develop A Payment Plan
Once you get your interest rates under control, develop a payment plan to get out of debt. One course...
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