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Debt Elimination Help

When you are mired deep in debt, deciding to seek debt elimination help is the first step towards getting out of it.

Getting into debt, especially credit card debt,  is normally something that occurs gradually. Many people use credit cards daily, for groceries, travel, merchandise, and so on. In this type of scenario, it is easy for credit card debt begin to rise – especially when you take into account the exorbitant interest rates and penalty charges that the companies levy when you’re even a day late. Following are some debt relief tips to help ease your way out of debt.

How To Settle Your Credit Card Debt Yourself

Should you or should you not use debt settlement companies
to pay off your credit card debt?

Debt Elimination Help Tip #1 – Negotiate Your Interest Rate

In many cases, the credit card companies themselves can offer you debt elimination help, if you ask for it. If you are a good credit risk, the last thing a company wants to do is to lose you as a customer. That’s why, if you ask them to reduce your credit card interest rate, many times they will do it. The better your credit, the greater chance that they will agree to a reduction.

But interest rates are not the only things that a credit card company may offer to do for you, if you ask. Sometimes they are willing to drop late fees and over limit fees as well. Their willingness to do so depends, in large part, on  how good a customer you have been to them thus far. But whatever your situation, it never hurts for you to attempt to negotiate.

Debt Elimination Help Tip #2 – Get Rid Of Your Credit Cards

Lose your credit cards. Not all of them, but as many of them as you can . Having multiple credit cards is an invitation to credit card abuse. Most people need a maximum of two cards, three at the most. One of the main keys to eliminating debt is to begin to gradually pay down your credit card balances. As you pay each card down to zero, cancel the card and then continue on to the next card. You have to do this in a systematic way, however. Otherwise, it is just too easy to lose focus on what you are trying to do. If you want a realistic chance of eliminating your debt, set a goal of paying a certain amount extra on your cards each month.

Debt Elimination Help Tip #3 – Find a Good Credit Counselor

Another means of receiving good debt elimination help is to see a credit counselor. If you’re the kind of person that has difficulty sticking to goals, this might actually be the best solution for you. A credit counselor can help to keep your feet to the fire and ensure that you maintain your focus on losing your debt. In addition, a good credit counselor will, in all likelihood, be aware of additional means of helping you to save money and pare down your debts. To find a good debt elimination counselor, ask around. If your friends or acquaintances can’t help you, see what services your local community has available for people in debt.

There are many other organizations and services willing to give you debt elimination help as well. The important thing is for you to realize the you need help, and then seek it.

Debt Elimination Schemes

Problems with debt settlement occur when you are enticed by what seems to be an easy way out of your debt problems.

Be especially wary of programs that promise debt elimination help using suspect methods. These include filling out false documents claiming that the debt has been paid, transferring the debt to a supposedly wealthy benevolent entity, falsely claiming the the debt is invalid, and so on. All of these fictitious schemes are an attempt to separate you from you money while providing you no real benefit. You can read more about such schemes at Consumer Complaints and Assistance.

Credit Card Debt Solutions
Credit card debt is one of the worse types of debts to have, but once you’re in debt, it can sometimes be difficult to choose from among the many so called credit card debt solutions out there.

Credit Card Debt Statistics
According to credit card debt statistics, the average American is close to drowning in a sea of debt.


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