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I have been in debt relief industry for years now working with reputable companies. I have researched the companies I offer to you as solutions. I meet with the management team who runs these companies in person. I believe in the sites I am suggesting to you on this website. I have found that... More
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  • Ways Of Ensuring Credit Card Debt Elimination 0 comments
    Jul 31, 2013 10:23 AM

    Many people find themselves in huge credit card debts which seem like they never end. Even though credit cards can be very convenient, their debts can lead to a strain in your financial freedom. To enjoy this financial freedom you have to get rid of the many credit card debts and the following ways will go a long way to ensure credit card debts elimination

    1. Ask for lower rate of interest

    If you happen to have high credit ratings and you have been paying your credit card provider on time, ask for a lower interest rates. Depending on your payments behavior and your ability to pay debts in time and without any delays, upon discussion with your card issuer, you can be able to strike a deal for a lower rate of interest and while at it, let your issuer know that you have been offered a lower interest rate from their competitors so that you can get a negotiable rate

    2. Target one card

    If you have multiple cards each carrying balances, try as much as possible to wipe out this balances one by one. It is prudent to pay off first the card that has the highest rate of interest so that you can pay less in terms of interest. You should also try to pay off one card that has the lowest debt first if the rate of interest is more or less the same even though this might mean that you will have to pay only the minimum payments in your other cards so that you do not damage your credit card payments ratings.

    3. Borrow to pay

    It is good to pay all your outstanding credit cards debts to stay clear and free of debts. If are able to pay all your debts that is good, but should you feel the pressure of payments, it is good to source funds from other cheaper sources like financial institutions since they sometimes offer lower interest rates that are fixed unlike most credit cards. In the long run, borrowing money from other cheaper sources will greatly go ahead in your credit card debt elimination.

    4. Transfer your credit balances from one with a higher rate of interest to one with a lower rate of interest.

    You could also move balances from a card with high interest rate to one with lower interest rate but caution should be taken since this payment period lasts for a period between 18 months and 1 year after transfer to clear your debt. If you pay this debt in time you could end up saving a lot of money even after the transfer fees are charged.

    5. Make substantial payments in your cards

    Card issuers charge interest on a daily basis depending on your credit card balance. The more balance you have the money you end up paying as interests. If you are able to pay large sums, it is good to make payments much more that your minimum payments since this will reduce your credit card balance hence ending up eliminating your credit card debts.

    6. Debt management agencies

    Should your credit payments methodologies be too much a task for you , you can consult some debt management agencies that will negotiate on your behalf with your card issuers to get a lower rate of interest. The reduced rates can range from 6 to 10 % hence reducing what you owe even though you will need to pay this services of the agency but in the long run you will pay less in terms of credit rate of interest.

    Read more Sergey Yazovsky 's web site

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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