I just read an article about getting out of credit card debt which said about making sure you have enough money each month to meet your minimum payment twice over! So you would need to pay double the minimum payment to make a dent in your overall balance? Hmmm ok I can see the logic in it but if your honest have you got double the minimum payment to make each month? Probably not! So how do you go about getting it lower or reducing what you will pay back!
Yesterday I told you that you needed to make a frightening list of the money that you owe to the credit cards. Today its time to take the fight to the front line and talk to the credit cards. There is a massive credit crunch on at the moment and there are less companies willing to give credit to people but if you make that call they have to listen.
Take a look at this video on Calling your Credit Card and you will see that you can get your interest rate lowered in order to help you pay off some of the balance and not just the money you are totaling up in interest each month.
The next twelve months are going to be difficult for anyone who has any debt and taking control of what you owe now is a good way to start paying off what could get out of control in the next few months.
