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Beginning Steps to Eliminate Credit Card Debt
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Audri G. Lanford_ Ph.D. -- Going Paperless -- Productivity Expert Audri G. Lanford_ Ph.D. -- Going Paperless -- Productivity Expert
Boone, NC
Thursday, July 8, 2010

 
It's not easy to eliminate credit card debt, and I'm speaking from experience. But if you're really determined to lose that baggage, you can do it -- and probably more quickly and easily than you think.

Your step by step guide to eliminate credit card debt

Start out by making sure you're as up to date as possible on the ins and outs of the credit card industry. You can accomplish this by keeping up with a great source of credit card information like Credit Card Whiz Kid and, quite simply, reading your credit statements when they arrive.

Having said that, here are some practical tips you can immediately put into action.

1. Create a budget. It is completely impossible to eliminate credit card debt if you accumulate as much as you get rid of. If you don't know how to budget, do some research or talk to a pro.

2. Contact your creditors and explain your situation. Most people don't think to do this, but in fact creditors are usually quite willing to negotiate. They know that once they turn the debt over to a debt collector, they're unlikely to recoup their losses, and they'd rather deal directly with you.

3. Know your rights. If you are dealing with debt collectors, the Fair Debt Collection Practices Act outlines their legal rights -- and they're not nearly as extensive as most debt collectors would have you believe. Simply put, they are NOT allowed to harass you. They can't call between the hours of 9:00 pm and 8:00 am, they can't threaten you or lie to you, and they can't call you at work once you tell them you don't want them to.

Actually, they can't contact you at all if you submit a written request telling them not to. Be careful about that option, though, because if you do exercise that right, the debt collectors have no choice but to turn you over to the police, which will not help eliminate credit card debt more effectively.

Once you've spoken to creditors, warned debt collectors that you do understand your legal rights, and created a budget, you'll have a much easier time paying off those debts. It will take time, but as you eliminate credit card debt you'll discover that it's well worth the effort.

For more tips on credit card debt, including saving money and avoiding getting taken, check out CreditCardWhizKid.com, a website that specializes in providing credit card tips, advice and resources.

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Name: Audri G. Lanford, Ph.D.
Title: CEO
Group: Lanford Inc.
Dateline: , NC United States
Direct Phone: 815-642-0460 NIS
Main Phone: 231-680-0486
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