Need to know how to settle credit card debt? Trying to settle credit card debt can be overwhelming, but it doesn't have to be. In fact, most credit card companies will settle debt for less than you owe. The key to becoming debt free is creating a plan, and sticking to it.
In order to settle credit card debt you will need:
- Your credit card statements
- Your credit reports
- Amounts of all of your monthly bills
- Gather all the information you need to create a plan that will allow you to settle credit card debt. You should have your monthly bills handy, any credit card statements you have and your credit reports from all three major credit bureaus. Having all of this information handy will allow you to create a strategy.
- Create a monthly budget. Having a monthly budget will not only tell you how much money you need for the necessities, but it will also show you how much you have left over that can be applied to your credit card debt.
- Sort your credit card debt from smallest to largest. When you start with the smaller bills and work your way towards the large ones, it helps you feel like you are making accomplishments faster. This makes it easier to stay on track.
- Call your credit card companies. Start with the company that you owe the smallest amount to. Call them and let them know that you would like to settle your debt with them, and you need to know your options. Most companies will settle for less than is owed, and some will even allow you to make payments on your settlement amount.
- Think over your options and decide what is best for you. Sure, you can settle credit card debt by calling the company and paying the amount they tell you. However, that's not always feasible. If they quote an amount that is too high for you to pay all at once, tell them. Ask them if you can accept the settlement amount and make payments on it. Most companies are more than willing to work with you, if you are open to working with them.
What Others Are Reading Right Now.
A Noble Experiment… With Bourbon
What happens when jeans are “aged” liked a fine spirit? We’ll soon find out.
Today in Nick Offerman: Love, Work and iPhone Advice
He offered that, plus tales of college sex, on the Tonight Show.
Cooking With Booze: Bourbon Barrel Quad Ice Cream
If you're ever going to make dessert, make it this beer-and-bourbon brilliance.