Avoiding Your Own Credit Crisis
Oh credit card bills, they come every month religiously and the balance always seems to be the same. So, how can you pay them off?
Oh credit card bills, they come every month religiously and the balance always seems to be the same. So, how can you pay them off? Here are a couple of tips I give to anyone who asks me how to pay off their credit card debt and really live without monthly credit card bills. Minimum Payments Most of the time your minimum payment is likely lower than the interest amount on your credit card. Generally minimum payments can be between 2-5%. This means that if you only make the minimum payment, you may not even pay any part of the principal balance owed. Unless you pay enough to hit the principal amount owed, you will simply compound the interest each month which will then become principal the next month. At that rate, you may never pay off your…
Jaden Jones
1:23 am on Thursday, May 20, 2010
It's quite horrifying to see people start using their retirement funds to pay off their credit card debts. It's preferable to seek negotiations with creditors for a reasonable debt settlement. If you want to know more about credit card debt negotiations - here's the link: http://creditcarddebtsolver.com/top-23-credit-card-debt-solver-tips/ more ›