Cover of: How to Instantly Eliminate Credit Card Debt (Without Bankruptcy or Credit Counseling) | Michael G. Mack

How to Instantly Eliminate Credit Card Debt (Without Bankruptcy or Credit Counseling)

  • 157 Pages
  • 0.67 MB
  • English
Business & Investing / Personal Fi
The Physical Object
ID Numbers
Open LibraryOL9369686M
ISBN 100977290905
ISBN 139780977290901

How to Eliminate Credit Card Debt (Without Bankruptcy or Credit Counseling) contains a simple, proven, step-by-step plan to get credit card companies off your back, prevent and avoid bankruptcy, avoid credit counseling, and fix cash flow in 30 days.

This book will show you how to: Force credit card companies to forgive most of your credit /5(3). To save the most money and eliminate your debt in the shortest amount of time, pay off your cards in order of annual percentage rate. Make the minimum payment on each card Author: Erin El Issa.

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The Fastest Way to Eliminate. 2. First, pay down the credit card debt with the highest interest rate. With the average interest rate on a credit card at 17%, credit card interest can add up quickly. Track spending. This dovetails with the budget advice.

Once you’ve gone through the trouble of creating a budget, it’s critical you Find new ways to save money Head to your local library and use their computers to look up budget-friendly ideas.

There are countless blogs out there Set up a Author: Ellen Gans. An unanticipated problem was encountered, check back soon and try again 1. Target just one card first. If you’re carrying balances on multiple cards, it’s a long slog to wipe out those debts.

Ask your creditors for lower interest rates. Often a simple phone call to the issuer is all it takes to. However, according to the U.S. Federal Reserve, if we take the total credit card debt in the United States and divide it among the number of households, the result is $7, If we eliminate households without credit card balances and only consider those with debt, the situation is even worse: The number increases to $15, per household.

The first way to get rid of your credit card debts is what’s called the debt snowball plan. This is the one that’s promoted heavily by Dave Ramsey, who authored the book The Total Money Makeover. This strategy involves paying off the credit card with the lowest balance first, then move on to the one with the second lowest balance and so forth.

The easiest way is by shifting debt on credit cards to a 0 per cent balance transfer card - this is where you get a new card(s) that repays debts on existing cards.

The book teaches techniques for dealing with pesky bill collectors and paying off past due debts. The Zero Debt plan teaches you lifestyle changes that will help you conquer debt and stay debt free for life.

Remember that no book will get you out of debt. Think of these books as tools to help you on your debt. When it comes to paying off credit card debt, we recommend the debt snowball method. The debt snowball teaches you to pay off your credit card debt—and all debt—in order of the smallest balance to the largest.

List your credit card debt from smallest to. Eliminating credit card debt is a dream come true for a lot of Americans. When you think about it, this is a tricky situation to be in and it does not always mean you have a bad spending habit. It could have been brought about by the tough times experienced with unemployment and the shaky economy a.

Discover the well-hidden secrets the credit card companies, credit card debt settlement services, collection agencies, the IRS, and the attorneys, DON’T WANT YOU TO KNOW!.

Save thousands of dollars, stop the harassment, eliminate your debt, avoid bankruptcy, and repair your credit rating. Step-by-step procedures can be yours today. 6 Tips to Get Rid of Credit Card Debt. If you’ve made mistakes in the past when it comes to racking up credit card debt, let’s look at how you can turn the situation around.

Here are six tips from my award-winning book, Money Girl’s Smart Moves to Grow Rich that can help you use credit wisely and eliminate your credit card debt as quickly as possible.

Find helpful customer reviews and review ratings for How to Instantly Eliminate Credit Card Debt (Without Bankruptcy or Credit Counseling) at Read honest and /5. Steps 1. Select the credit card with the smallest balance, as long as you pay a similar interest rate on it, when compared to 2.

Stop using this credit card. In fact, you should cut up the card. Create a Debt-Killing Factor (DKF) -- a monthly fund you will use only to pay off your credit 77%(34). The average household has over $15, in credit card debt, and the average interest rate is over 16% according to Bankrate.

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If you are paying only the minimum payment, you’ll likely be carrying that debt for over twenty years. If that plan doesn’t sound good to you, there are ways you can get rid of your credit card debt fast.

Beverly Harzog is a former shopaholic who maxed out seven credit cards and racked up more than $20, worth of credit card debt.

Now a credit card expert and consumer finance analyst with U.S. News and World Report, Beverly is sharing the debt payment strategy she used to get out of debt in just two years. Read on to learn about Beverly’s four steps to pay off your credit card debt fast Author: Michael Timmermann.

In fact, more than 45% of Americans currently have a credit card balance, and according to Ben Woolsey, director of marketing and consumer research forthe average amount of debt. Credit card debt can wreak serious havoc on your finances if carrying a balance means paying high interest or not being able to achieve your financial goals.

The interest rate on a credit card balance is usually between % APR, and such high interest rates can make it difficult to pay down your debt -- especially if you're only making the minimum payment.

To eliminate your credit card debt the fastest, apply all extra cash to the debt with the highest interest rate. Living within your income, establishing a budget, paying cash (and spending less) along with better interest rate terms on your credit card debt should save you hundreds each month.

Stop using your cards, make a budget and stick to it. Try to put any extra money towards your debt, if you can. When your credit card debt piles up, it can be easy to pay just the minimum payments or stop paying completely. Try to avoid this if you can. Of all the types of debt you can hold, credit card debt is one of the nastiest.

NASDAQ reports that consumers pay an average of 15% on credit card debt, and those with a revolving balance tend to pay even higher rates. Many Americans have revolving balances spread across several cards, making the repayment process even more hectic and difficult.

Whether it’s a car payment, mortgage, credit card, or medical bills, choose one debt at a time to eliminate. Start with the smallest debt that will be the easiest and pay more than the minimum payment each month, the more you can afford, the better.

Please note: That some states consider credit card agreements to be an oral contract,other states consider it a written contract, and some states have specific laws pertaining to credit card lawsuits.

If you have unpaid credit card debt and are concerned about your legal rights, a lawyer can brief you on the specific laws for your state. To get out of debt the absolute fastest, you’re going to want to pay off the loan with the highest interest rate first. For example, let’s say Credit Card A has a balance of $1, and a 12% interest rate, and Credit Card B has $1, at 6% interest.

Student and credit card debt: How to manage it. It may be tempting to take a loan against your house or other assets like a (k) to pay down high-interest debt. Monthly credit card statements typically highlight the minimum payment you are required to make, but there’s a better strategy you should consider.

Take a look at your monthly statement, and instead of focusing on the minimum payment, pay attention to the box that shows how much you need to pay each month to get the debt wiped out in 36 months. "Never-Before-Seen Debt Relief Method Kills Your Credit Card Debt Quickly and Easily - And Makes All Previous So Called "Debt Ellimination" Methods Obsolete "This system can help you eliminate credit card debt.

It takes a lot of will, discipline, courage, and help to slay the debt monster.5/5(1). That’s because the average American family has over $8, of credit card debt, according to g. For those with substantial debts, the Upgrade Card provides a simple, efficient, and inexpensive way to quickly pay down balances and eliminate credit card debt.

And, with no fees, it’s a solution that not only saves you money but won’t.

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How to Tackle Credit Card Debt Q: Though my husband and I are struggling to pay off our $4, credit card debt, he contributes the maximum amount to his IRA—$5, per year, or $ per month; the account is now worth $19, I think he should suspend his IRA contribution until we're debt-free.

He thinks the IRA is more important. But if you consolidate your credit card debt, for example, on a balance transfer card or via a personal loan, you're likely to pay less interest on your debt while paying it off. If you still have good credit, you might qualify for a balance transfer credit card that offers a 0% introductory annual percentage rate for about 12 to 21 months.

Simply stop paying your unsecured credit card debt. Do not allow yourself to be misled into credit card debt bankruptcy or paying off credit card debt through consolidation. Bankruptcy should be your last resort. In reality, there is a big chance that you can eliminate your credit card debt .