Reduce your debt

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Reduce your debt

It is no secret that many of us are swimming in a veritable ocean of credit card debt. It is also no secret that paying off even a small balance at 18% interest or more can take many years ??especially if all you can afford is the minimum balance. . Fortunately for cash strapped consumers there are a number of tried and true methods available to help reduce your debt load. By using these methods consumers can become debt free in far less time. And the education they receive along the way can help them to avoid debt in the future.

Your Bank May Be Willing to Work With You

Many banks have become nervous about potential bad debts on their books, and many credit card companies dread the thought of their most profitable customers declaring bankruptcy and leaving them holding the bag. That is why so many banks and other credit card issuers are willing to negotiate lower interest rates to help their customers avoid bankruptcy and pay what they owe. If you think your bank will be unwilling to negotiate you could be pleasantly surprised. In any event it never hurts to ask.
Three ways to reduce your credit card debt
Credit cards usually charge a higher rate of interest than other loans. In the current economic times, paying high rates of interest just does not make fiscal sense.

Consider a Home Equity Line of Credit (HELOC) to Pay Off Your Credit Cards

If you have a mountain of credit card debt chances are good that you are paying very high interest rates, often as high as 18%, 20% or even more. And with the dreaded universal default clause in place missing a payment ??even on an unrelated bill ??could send the interest rates on those outstanding balances soaring even higher, sometimes to 30% or more. At those rates it is all but impossible for consumers to pay off what they owe, and for those consumers a home equity line of credit (HELOC) may be a reasonable alternative. With a HELOC homeowners can pay off their credit card bills once and for all and then repay the bank at a much lower rate.
Pay off your credit card debt early with a HELOC (Home Equity Lines of Credit)
Are you looking to remodel your kitchen? Or maybe you want to find a quick and easy way to use existing home equity to pay off your credit card bills? Whatever prudent reason you have for needing cash, home equity loans may be the option for you.
Understand Your Debt Relief Options
You have probably heard those ads on the radio ??the ones that say you can settle your credit card debts for pennies on the dollar. As with so much in life the reality is rarely that simple. While there are some good credit card debt relief programs out there it is important to evaluate each offering carefully and determine how you will benefit. Not all agencies are created equal, and it is important to compare your options carefully before signing on the dotted line.
Facing up to Reality with Debts ??First Steps
Ok, so you're admitting you're in over your head. Believe it or not, this is good! Not that you have all this debt, but because you've taken your head out of the sand and acknowledged that your finances are out of control.
It?ôs Time to Face Reality
If you are buried under a mountain of credit card debt chances are you did not get there overnight. Instead those debts probably built up slowly over time. No doubt there were months where you intended to pay off the full balance on your credit cards, but life kept getting in the way. If this sounds like you it is time to face up to the reality of the situation and start making a plan to resolve it. Getting out of credit card debt can be hard, but with the right plan you can pay off what you owe and get your financial life back on track.
Reduce your debt
2 years ago
Navigating Credit Counseling Choices
If you have already tried negotiating your dept with your individual creditors and banks and are still struggling with unsecured debts such as credit cards, it might be time to find a credit counseling agency. The credit counseling agency will help you create a budget, advise you, provide you with educational materials, and possibly help you set up a dept repayment plan....

2 years ago
How to set up a Debt Management Plan
Setting up a debt management plan could be the difference between financial ruin and financial security. This is especially true for consumers who have fallen into large credit card debts, multiple loans, or unemployment....

3 years ago
How to reduce interest or operation: Bank, Capitulate!
If you find yourself buried in debt it may be time to employ operation ??"Bank, Capitulate". Lately banks have been getting all the bailouts, and it is time for ordinary consumers to work on bailouts of their own. By transferring their high APR balances to low APR credit cards consumers can save themselves thousands of dollars in interest charge and get out of debt faster than they ever thought ...

3 years ago
The 3-step plan to paying off debt (Or what to do to be debt-free)
In the most extreme cases, a person would have no other choice but to file for bankruptcy. However, this is definitely not the best move if you want to maintain good credit standing. Instead, you need to have a well thought out plan of how to pay off all your debt and then follow your plan accordingly....

3 years ago
10 Steps to reduce personal debt
Could you be debt-free this year? When millions of Americans are at least $9,000 in debt, achieving financial freedom and a rich, rewarding life may seem like a pipe dream. But debt does not have to be debilitating. Using practical yet deliberate steps, you can begin to pay off what you owe, reduce your debt and begin living a rich, debt-free life....
3 years ago
Pay off your credit card debt early with a HELOC (Home Equity Lines of Credit)
Are you looking to remodel your kitchen? Or maybe you want to find a quick and easy way to use existing home equity to pay off your credit card bills? Whatever prudent reason you have for needing cash, home equity loans may be the option for you....

3 years ago
Three ways to reduce your credit card debt
Credit cards usually charge a higher rate of interest than other loans. In the current economic times, paying high rates of interest just does not make fiscal sense....

3 years ago
Below are 7 Tips that will help you survive overwhelming debts
Overwhelming debts cause stress, dissatisfaction, and worry. By adapting the effective money management tips, you can stop the worries and start a new life....

4 years ago
The secret technique to get rid of your debt for good
Debt, and in particular credit card debt, is not a good thing. The interest that you are paying on credit card debt wastes hundreds, even thousands of dollars of your hard-earned money....

4 years ago
Facing up to Reality with Debts ??First Steps
Ok, so you're admitting you're in over your head. Believe it or not, this is good! Not that you have all this debt, but because you've taken your head out of the sand and acknowledged that your finances are out of control....
4 years ago
The basics of debt relief options
If you are determine to find a way to become debt free once and for all, but you don't know where to start....
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