Eliminate credit card debt

[smlbiz]

1. Make a list of all your credit cards in a page.
2. Arrange them according to the interest rate highest at the top and lowest at the bottom.
3. Find the minimum payout of all cards and total the amount.
4. Pay the total monthly minimum payment on time and if possible pay more then the minimum amount to debt free quickly.
5. Don’t make any payment due cause later you have to pay high interest rate. So you should have a proper budget plan before applying for a card.
6. Continue this process of payment until the first card is paid off and continue the process for all cards.

[Gaulkin]

Its easy, dont get into debt.

[myfayt]

Just a quick comment. If you only pay the minimum then it can't be paid off. For my chase card, my mimimum is $15.00 but my monthly fee is $17.80, so it actually gains with paying the minimum.

[The Stealthy One]

Here are some of my favorite resources on debt management, personal finance, etc...

Dave Ramsey Homepage - daveramsey.com
Welcome to Investopedia.com
Online Investing: Stocks, Personal Finance & Mutual Funds at SmartMoney.com

[DanaKS]

If youre in way over your head and theyre already delinquint, you can negotiate with the company to pay it off at a lower amount, but you would need to have a lump sum of money to pay them.

[Encrypted]

Just a quick comment. If you only pay the minimum then it can't be paid off. For my chase card, my mimimum is $15.00 but my monthly fee is $17.80, so it actually gains with paying the minimum.

One more reason why I'll never get a credit card.