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Credit card debt, Interest rate

Your post is not helpful

Once again, your post is not helpful. There is nothing here to give practical advice to deal with the debt other than the obvious: pay it off as best you can.

Well, I think the goal of everyone in this group is to find a way out of debt. And, the first step is taking responsibility for spending habits. Complaining about CC companies doesn’t provide individuals with ideas on how to get out of debt either. There are times when individuals just want to vent their frustrations. I imagine we are all frustrated and complain when the bill arrives, and when the check is being written. Unfortunately, the debt is still there regardless of how much we complain.

Many of you have been successful in reducing your interest rate when dealing with certain credit card companies. Members need to know how you succeeded. Others have posted how they’ve reduced their spending habits and used that money to pay off loans. Others have chosen to use reputable credit counseling services. Everyone’s situation is unique and it would be great if members could provide input as to how they are able to make it through the tough times, and their successes, while struggling to get out of debt.

The foundation of reducing debt is creating and maintaining a budget. A budget will help you find extra money, if there’s extra money available. If there’s not, maybe a part-time job is needed, or securing the services of a credit counseling service. You must research these companies. If you don’t, you could end up in a worse situation. Many people worry that their credit will suffer. If you are deep in debt, with over limit and late charges, then your credit has already suffered. They are able to lower interest rates and help you keep your head above water. If a reputable credit counseling service can’t help you, then chances are bankruptcy may be your only alternative. Unless, of course, you have a rich aunt or uncle.

There are many ways to reduce your grocery, clothing and entertainment expenses. There are books in the library that will give you tips on living on a dime. There’s one book many of my clients have read titled “Smart Cents, Creative Tips and Quips for Living the Skinflint Way. Skinflint: (n) A thrifty person who saves time and money by all means possible. Getting out of debt takes time, work and determination. Oh, and ALOT of patience. Sometimes the light at the end of the tunnel is barely visible. But, on the flip side, the satisfaction of getting out of debt is priceless.