Erase Credit Card Debt!
(author’s note: this post deals with erasing credit card debt for open active accounts only. If you need assistance in legally erasing credit card debt for charged-off credit card debt, see the link at the bottom of this post that will show you exactly how to do it)
Don’t you wish you could erase credit card debt? Unfortunately, short of filing for bankruptcy, there is no legal way to do this. (Sorry!) But, that does not mean that you are destined to live the rest of your life struggling to make any headway with your debts. What you need to do is carefully evaluate your situation and develop a solid plan that will help you erase your credit card debt over time. Eliminating credit card debt is hard work, but the results are worth it.
Strategies to Get Started
The number one thing you need to do to get started is to stop using your credit cards. I know that this can be hard but if you are serious about living a debt free life this is a critical step. You need to resist the urge to buy something telling yourself that you are going to pay it off at the end of the month. If you don’t have the cash don’t buy it! No exceptions! If you think you will be tempted to splurge on impulse, put your credit cards in a bowl of water and freeze them.
Speaking of cash, start using it! Develop a budget each month and when you get paid put money into an envelope for each of your budgeted categories. For most of us, it is much easier to spend money we know we shouldn’t when we use a debit card. Something about cash makes it much easier to be accountable. Holding yourself accountable is critical. If unexpected things come up, you need to make sure that you track this so that you can adjust your budget.
Ok, now on to erasing credit card debt! Basically to reduce credit card debt you are going to need to focus on two things: Decreasing Spending and Increasing Income.
Decreasing Spending
Once you have set your budget up, look for every way you can to cut back. Here are some suggestions.
- Look for ways to cut your grocery bill. You can do this by using coupons or playing the “grocery game”. Or, you can search online for recipes that are cheap to make. If you are really honest with yourself you are probably wasting money on convenience food. Rather than buying frozen dinners, cook on the weekend and freeze the extras. Stop buying small packages of food when large ones are cheaper.
- Stop eating out. Many times, it is a failure to plan that leads us to eat out. By planning your meals you will be less tempted to take the family out. Of course, this doesn’t mean that you should stop having fun. Just make sure that you plan for eating out and that it is budgeted for.
- Shop around for the best price for your fixed monthly expenses, like insurance and your cell phone plan. If you can save money by switching providers, do it!
Of course, there are many other ways to save money. Do some research and commit to constantly looking for ways you can cut your expenses.
Increase Income
Unless you are a natural entrepreneur, you probably think of your income as something that is fixed. The reality is that one of the best ways to get out of debt and make sure that you never end up back in debt is to increase your income! Now, I am not suggesting that you spend a bunch of money starting a business. What you need to do is develop a plan to increase your income that doesn’t involve spending any money. Most people do not realize that you can easily make money by freelance writing on places like text broker and the content authority. You don’t have to be a brilliant author either! (In fact, many people do this when English isn’t even their first language) Or, you can start your own websites and make money via Adsense or Affiliate Income.
These are just two ideas, and of our course there are many, many ways that you can earn additional income. The key is to open your mind to the possibilities and determine what works for you.
It is not easy but if you stick with it you can pay off credit card debt and enjoy a debt free life!
Don’t forget that if you are dealing with a bad credit score, we can help! While there are a lot of great credit repair companies out there, the reality is that the best credit repair program is one where you get involved and create a comprehensive credit repair plan. That is what we have created with our own Credit Repair College! Enroll today and begin your road to clean credit!
Want to legally (and quickly) erase credit card debt for charged-off accounts? We just did this for a family member and got a legitimate $16,000 collection account for a Capital One Visa completely removed with one simple letter!
One simple letter!
That’s it!
If you would like to learn this strategy and get a copy of this letter, simply sign up for Credit Repair College here: I want to erase credit card debt NOW!
{ 2 trackbacks }