Learn about How to Eliminate Your Debts
1. Cut them up and stop using them.
2. List the balances, smallest to largest.
3. Pay off the smallest debt first, as fast as you can.
4. After paying the first one off, apply that payment to the second debt and pay it off as fast as you can.
5. Keep repeating this process until they are all paid off. It’s called the debt snowball method.
Enter your debts into this calculator, then enter how much over the minimum you can pay. It will give you a monthly payment schedule. If you stick to it, you will be out of debt in the time it says. Be honest with what additional you can pay each month – it doesn’t do any good if you can’t keep to the schedule. Good luck to you!
http://debt.bizcalcs.com/Calculator.asp?Calc=Debt-Elimination
If you currently have a lot of money charged on your credit card and want to stop paying large amounts of interest the easiest option is to transfer the balance to another credit card with a 0% introductary rate on balance transfers with no balance transfer fee. Discover card has such a card, just visit their website and you can apply online. They don’t charge any fee to transfer the balance and they don’t charge you any interest for 12 months! Pretty good deal to eliminate your debt by making monthly payments and not paying any interest. In 12 months you could transfer the balance to another credit card that also charges no interest or balance transfer fees.
CCCS is definetely the best way to go. They will review your debt situation and honestly tell you if you are too far gone for Credit Counseling or Debt Settlement and need to consider Chapter 7.
Watch out for the fly-by-night counseling services. Many of them charge exhorbitant maintenence fees to simply hold your money for you.
The best place to start is The National Foundation for Credit Counseling at http://www.nfcc.org. From there, you can find your local CCCS agency.