Carrying balances on multiple credit cards is stressful and expensive,
That’s especially true if you are living paycheck-to-paycheck or dealing with other debts simultaneously.
This 5 Step guide can help you develop a plan to pay off your debt or identify the best debt relief option when a traditional payoff plan just won’t cut it.
Step 1: Stop making it so difficult to get debt relief
The only way to get out of credit card debt is to stop creating new debt while paying off what you owe.
A budget is essential in your quest to get out of debt, no matter which debt relief option you end up using.
Step 2: Create a budget that’s optimized for getting out of debt
Gather up your most recent credit card statements or login into your apps to write down the following for each credit card:
Step 3: Take stock of your debts and decide on a repayment strategy
2. Current monthly payment
1. Current balance
4. Status of the account
This is where your budget comes in because minimum payments aren’t going to help you get out of debt quickly.
Step 4: Set up a debt reduction plan
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