Credit Card Debt

Unsecured debts are things like credit cards, medical bills, and utility bills. We provide a credit counseling service that can cut monthly payments on unsecured debts by 50% or more!

- Customer Information -(Secure Credit Card Debt Form)

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Credit Card Debt

Credit Card Debt

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Credit Card Debt Program

Crushing Credit Card Debt

There is no doubt that the recent decades have been witness to an 
explosion in levels of credit card debt among consumers. 
The relative ease of obtaining credit cards, coupled with the anemic 
growth of wages and the wealth of consumer products 
available today has pushed more and more people to spend more than they 
make and in essence to live on borrowed money and 
borrowed time. While it is all too easy to buckle under crushing credit 
card debt, there are some sensible steps that 
consumers can take to protect themselves and their credit. 

Getting into debt is easy and getting out of debt is hard. That much is 
clear to everyone. The debt that took only days or 
weeks to accumulate can take years or even decades to get rid of. We’ve 
all heard the statistic that a small credit card
balance can take 30 years to pay off if only the minimum payment is 
made each month. When one hears statistics like this, one
is often tempted to despair and wonder if it is even possible to pay 
off such a crushing credit card debt.

The answer is that yes, credit card debt, even in the most severe 
cases, can be paid off and the individual involved can go 
on to a life of financial independence and stability. It does take some 
knowledge, some patience and some hard work, however.  
Knowledge of how the credit card industry works, the patience to stick 
to a strict payment and spending schedule, and hard 
work, possibly in the form of a second job, will be rewarded with the 
ability to put your credit card debt behind you.

Let’s start with gathering some knowledge about how the credit card 
industry works. Banks that issue credit cards count on 
their cardholders not being able to pay their balance in full each 
month. From the low teaser rates to those cash advance 
checks, credit card companies want you to spend more than you earn. One 
of the secrets of the credit card industry is that 
they make a large proportion of their income from the finance charges, 
late payment fees and over limit charges assessed to 
their cardholders. You can use this knowledge to your advantage by 
contacting your credit card bank and asking for waiver of
these charges and a lowering of your interest rates.

Credit card banks are often willing to work with their cardholders to 
enable them to pay off their debt. That is because if 
the cardholders are forced to declare bankruptcy, the banks know that 
it will be difficult if not impossible to recover the 
money they are owed. Use this fact to your advantage to negotiate 
friendlier repayment terms on your credit card debt.

Once you have negotiated a repayment schedule, however you will need 
the dedication and patience to stick to that schedule. 
If you miss a payment, or if you are late, the bank may call off the 
repayment schedule and demand their money. This can be 
very damaging to your credit rating as well as your finances. Be sure 
you the perseverance to follow through and hold up your
end of the agreement.

You may want to consider taking on a second job as a way to retire your 
credit card debt faster. Many people, even if they 
are already very busy, find that a second income helps them eliminate 
their debt faster than any other strategy. Even if you
think you don’t have the time, researching job opportunities near your 
home may provide you with the extra income you need 
to get out from under your crushing credit card debt.

By using a combination of knowledge, patience and hard work, you can 
eliminate virtually any credit card debt and get 
yourself back on a solid financial footing.