I’m always shaking my head at folks who think that there is a quick and easy way out – or who think that they’re so far in that there’s no benefit to getting themselves out. I’m glad to “meet” someone who was in my same position and understands what it really takes to get out of that level of debt.

maria

If a debtors credit rating isn’t tarnished, I recommend getting a low or zero percent interest rate credit card and moving balances over first. Then, tackle the debt aggressively while not worrying about racking up big interest payments.

Some credit card companies will agree to reduce their APRs while others will not. Still, it is a consumer’s market for people with good credit.

Thanks for the comment.

I love the list.

My only debt is education debt though I’ve never had consumer debt (thank goodness!)

But for me, it’s impossible to be credit card free because of my job – constant company expenses that I get reimbursed for later, so not only do I need a LOT of cash on hand to be able to be CC-free, I also need to have a record of where, when, how much and what I spent it on (what category).

But when I spend my own income (I try and keep the two separate via a matrix of 6 Excel spreadsheets LOL), I spend it on credit card so I have the line item as my record, then I go back home, and immediately pay it off in full – that exact amount.

I used to do this when I first got my credit card at 19, but I had slipped over the years, and now I’m back to doing it again instead of throwing a flat $500 amount into it because I hazarded a guess that it was how much I spent.. not very exact or good.