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Question By
monty1992

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quickest way to get rid of credit card debt
i have 30.000 in credit card debt that built overtime due to many factors. i use to make more but my pay has been cut in half so i was wondering what action should i take? i am only paying minimum payments
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is debt management a good option? but i don't have any money to where i can make a one time payment.

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Paying only the minimum on a credit card will only work if you put the cards away and "never" use them until all of the cards are paid off.   If at all possible, pick the account with the lowest balance and see what extra you can pay on that card while still being timely in paying the others.   Once that card has been paid off, don't change your spending habits and put that entire amount along with your current minimum to the next lowest balance and continue until they are all paid off.  On time payments is much more important than your current utilization.   You should contact the credit card company to see what arrangements you can do yourself.  You could be surprised on what they may offer you.   If you can't negotiate directly with them, then Debt Management may be an option for you.   Routinely, they will negotiate on your behalf and often times will result in the acount being closed. Select your Debt Management firm carefully and one that is certified.  Not all Debt Management firms are legitimate.

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monty1992

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thank you can you recomend any firm which is good? 

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Reply by
icuhowie

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Do NOT go down the road of a Debt Management firm !

DO IT YOURSELF. 

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Google 7 Baby Steps and start reading

Google Dave Ramsey 

Get a 2nd Job. 

Cut up your Credit Cards,  STOP USING THEM!

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