Credit Card Debt Free

Eliminate Credit Card Debt Without Bankruptcy The Right Way

Getting into trouble with credit card debt is easy. Paying off that debt may be the most difficult task ever faced. The right way to get out of debt is to pay what is owed. Unless the cards or a person's identity were stolen and fraudulent charges were made, there is an obligation to repay the credit card debt incurred.

Stop Using All Credit Cards – Immediately stop using credit for any purpose. Credit card debt cannot decrease if charges continue to be made. Secure all credit cards so as to avoid temptation. Put them in a safety deposit box or freeze them in a block of ice.

Cut Expenses – Get completely back to basics. The only things that are necessities are food, water, clothing, shelter and basic utilities. Everything else is extra. Cancel cable TV, extra phone services, internet service and anything else that isn’t absolutely essential to survival. Quit eating meals out or buying coffee at specialty coffee shops.

Generate More Money – Get a job or a second job, if possible. Make money at home by babysitting, doing yard work or cleaning houses. Place an ad to sell any big-ticket items or toys that you can live without, especially if you still owe money on them. A big screen TV, second car, motorcycle or unneeded furniture can provide a significant amount of cash to put toward credit card debt. Have a garage or yard sale and turn excess small items into cash.

Pay Off the Debt - Put all the money saved each month and any extra money from work or sales toward paying off the credit card with the lowest balance. Once that card is paid, put all extra money toward the card with the next lowest balance. Continue in this manner until all accounts are paid. Once you are debt-free, DO NOT start using the credit cards again. Also do not cancel the credit card accounts as that will adversely affect your credit score.