Get Rid of Credit Card Debt

Tips to get rid of your debt fast

• Stop spending on your credit cards! Depending on the size of your debt, it may pay you to cut up all (or all but one) of your cards. That way you won't be able to use them in stores. If you've saved the card details on your computer, erase that file to remove the temptation of spending online.
• Pay off more than the minimum. The minimum payment on your credit card is designed to almost never pay off your debt (think decades rather than months before the debt is finally cleared).
• Pay off the highest interest rate first. You may need to call your credit card companies to find out the true rate you're being charged. The information is on your statement somewhere but is often hard to find.
• While you're calling your card company, ask if there are any deals available to cut your interest rate. Use the offers you've had through the mail or seen on television to negotiate your interest rate downwards, even if it's only for a few months. Those minutes spent on hold could pay for themselves handsomely.
• Check all your bills. If you haven't shopped around for insurance quotes for a few years then doing so will almost certainly save you lots of money. Once you've got a few quotations I doubt you'll feel any loyalty to your current insurer. Do the same with electricity and other utility bills.
• Cut out unnecessary spending and put that towards cutting your debt. Ask yourself if you really need that extra large coffee with all the trimmings. Do the same with your other spending - question everything. You'll likely find an extra 5% or more in your pocket.