2007-04-26 13:51:16 · 8 answers · asked by Stevens C 1 in Business & Finance ➔ Credit
I suppose not running up debts has already come to mind. But once debts have been incurred the solution (assuming your credit is still in good shape) is to get a consolidation loan. This will allow you to make one smaller payment and still reduce the debt in a timely manner. Of course if you keep the credit cards and continue to spend you will be faced with the loan payment and the new bills.
2007-04-26 13:57:40 · answer #1 · answered by Victor B 3 · 0⤊ 1⤋
If you are paying interest for your card, you might want to think about transfering the balance to a 'no interest' or 'low interest' card. Remember that is just a temporary relief while you sort out your finance. Pay it off as much as you can during the interest free period.
If you owe quite a big chunk to the credit card company, you could consider taking up a loan from the bank or extending your mortgage (if you got one) to pay it off. Credit card companies charge astronomical amount of interest!!! Bank's rates are normally alot lower than credit card rates.
Good luck!!!
2007-04-27 04:49:32 · answer #2 · answered by L1LVN 3 · 0⤊ 0⤋
Try your best to pay more than the minimum payment, This way you'll pay the dept faster and you'll spend less money on Interest.
Also STOP using your credit card while paying.
Good luck.
2007-04-26 20:56:46 · answer #3 · answered by A J 2 · 0⤊ 0⤋
PAY IT OFF. That is the ONLY method available. Even a consolidation loan includes this method.
2007-04-26 21:02:10 · answer #4 · answered by STEVEN F 7 · 0⤊ 0⤋
You can take advice from a debt consolidator. I think they can help you out. You can make some online search to find some in your area.
To know more you can visit
http://debtconsolidationmanagement.blogspot.com
and
http://geteasyloans.blogspot.com
2007-04-26 23:15:42 · answer #5 · answered by Anonymous · 0⤊ 0⤋
make more than the minimum payment to pay it off faster then don't use it anymore.
2007-04-26 21:27:02 · answer #6 · answered by masta blasta 2 · 0⤊ 0⤋
get a credit card debt consolidation loan and pay off your debts quickly:
http://debt-refinance-loan.com/category/Credit-Card-Debt-Consolidation-Loan.html
2007-04-27 07:24:35 · answer #7 · answered by See Saw 3 · 0⤊ 0⤋
Don't use it, make the biggest payment you can.
2007-04-26 20:55:30 · answer #8 · answered by Fester Frump 7 · 0⤊ 0⤋