Eliminate Credit Card Debt in 5 Steps - The Sure Fire Guide to Reducing Your Debts Starting Today debt consolidation loans
One of the greatest nightmares of modern living is credit card debit. The little plastic card that has bailed us out of difficult situations so recently, has secured that dream holiday or has even served us so well on that 'doctor's orders' shopping spree, always comes back to haunt us. Well, it's not as difficult as you might have thought to become debt free again; just follow five simple steps. debt consolidation loans
Firstly, make a list of the debits you have and especially the minimum payments that you have to meet. It's not a pleasant job but it is practical. debt consolidation loans
Secondly, reorganise the list according to priority, taking special care to note the vital things. After all you don't want your home repossessed because you put it sixth on the list. debt consolidation loans
Thirdly, with everything clearly stated in front of you, make a budget that you can stick to. That means being realistic and honest about your normal spending habits. Do you really only spend $200 a month on clothes? Making a budget and sticking to it will mean sacrificing some luxuries, but in the long run it's worth it since the money for those luxuries can now be diverted towards your credit card debit. debt consolidation loans
Fourthly, resist the temptation to consolidate your debts. In theory it makes sense to bunch all your debts together but in fact it only causes more headaches. A consolidation loan will have to be paid off, while you continue to use your cards and rebuild the debt. Self discipline is far better. debt consolidation loans
And lastly, if you've more than one card, make sure that you keep up all minimum payments. Then select one card to clear with extra payments using the excess money you have from your budget - probably the one with the highest interest rate. Concentrate on paying off that one card. debt consolidation loans
Once you've set these five steps in place, you'll be surprised just how quickly the debt disappears. You can even call your credit card company and asked for a rate reduction; remember, they want the card cleared just as much as you do.
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