Steps to Crush Your Debt and Regain Control

Carrying balances on multiple credit cards is stressful and expensive, and paying them off quickly can be a challenge. That’s especially true if you are living paycheck-to-paycheck or dealing with other debts simultaneously, like student loans.

The only way to get out of credit card debt is to stop creating new debt while paying off what you owe.

Stop making it so difficult to get debt relief

A budget is essential in your quest to get out of debt, no matter which debt relief option you end up using.  You need to get a budget in place—written out and not just in your head.

Create a budget that’s optimized for getting out of debt

Now it’s time to get down to the nitty-gritty of obtaining debt relief. That starts by figuring out exactly how much you owe, what it’s costing you, and where each debt stands.

Take stock of your debts and decide on a repayment strategy

Avalanche or Snowball Methods With both strategies, you make minimum payments on all your other credit cards to keep them from falling behind (or at least further behind than they are).

Set up a debt reduction plan

Let’s go over the most popular forms of debt relief and the best situation to use each one.  These solutions can help you avoid bankruptcy and get out of debt as quickly as possible.

Explore options for debt relief

Swipe up for more: 5 Steps to Getting Debt Relief Fast