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Credit card debt is supposed to be very short-term, which is why it has horrendous interest rates. So priority 1 should be to look for a way to refinance your credit card debt.

Refinancing means to get a loan to pay off a loan, but do so by getting a better loan. One with a lower interest rate and which has a lower minimum monthly payment.

The first place to go to would be your bank. See if you can get a loan to pay off all your outstanding credit card balances and has a repayment plan which is easier to handle. But you might also look into other sources for a loan (friends, family, employer...)

When your bank can't do anything for you can not get a loan, then you might try to negotiate with the credit card companies directly. When a customer struggles financially and is on the verge of declaring personal bankruptcy, then they might agree to a less strict repayment plan in order to recover at least part of the expected money. There is no guarantee that they agree to that, but it's not unheard of. So you can at least give it a try.

When the credit card companies won't budge either, see if there are any of the other fixcosts you can afford to not pay for a while in order to get your credit card debt down. Look into the contracts and find out how many consecutive down payments you can afford to miss before you encounter any serious consequences.

If that fails too, then you might have to downsize your home. Sell it, pay off your credit card debt, and use the remaining money to buy a less expensive home... or rent one.

Credit card debt is supposed to be very short-term, which is why it has horrendous interest rates. So priority 1 should be to look for a way to refinance your credit card debt.

Refinancing means to get a loan to pay off a loan, but do so by getting a better loan. One with a lower interest rate and which has a lower minimum monthly payment.

The first place to go to would be your bank. See if you can get a loan to pay off all your outstanding credit card balances and has a repayment plan which is easier to handle.

When your bank can't do anything for you, then you might try to negotiate with the credit card companies directly. When a customer struggles financially and is on the verge of declaring personal bankruptcy, then they might agree to a less strict repayment plan in order to recover at least part of the expected money. There is no guarantee that they agree to that, but it's not unheard of. So you can at least give it a try.

When the credit card companies won't budge either, see if there are any of the other fixcosts you can afford to not pay for a while in order to get your credit card debt down. Look into the contracts and find out how many consecutive down payments you can afford to miss before you encounter any serious consequences.

If that fails too, then you might have to downsize your home. Sell it, pay off your credit card debt, and use the remaining money to buy a less expensive home... or rent one.

Credit card debt is supposed to be very short-term, which is why it has horrendous interest rates. So priority 1 should be to look for a way to refinance your credit card debt.

Refinancing means to get a loan to pay off a loan, but do so by getting a better loan. One with a lower interest rate and which has a lower minimum monthly payment.

The first place to go to would be your bank. See if you can get a loan to pay off all your outstanding credit card balances and has a repayment plan which is easier to handle. But you might also look into other sources for a loan (friends, family, employer...)

When you can not get a loan, then you might try to negotiate with the credit card companies directly. When a customer struggles financially and is on the verge of declaring personal bankruptcy, then they might agree to a less strict repayment plan in order to recover at least part of the expected money. There is no guarantee that they agree to that, but it's not unheard of. So you can at least give it a try.

When the credit card companies won't budge either, see if there are any of the other fixcosts you can afford to not pay for a while in order to get your credit card debt down. Look into the contracts and find out how many consecutive down payments you can afford to miss before you encounter any serious consequences.

If that fails too, then you might have to downsize your home. Sell it, pay off your credit card debt, and use the remaining money to buy a less expensive home... or rent one.

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Philipp
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Credit card debt is supposed to be very short-term, which is why it has horrendous interest rates. So priority 1 should be to look for a way to refinance your credit card debt.

GoRefinancing means to your bank and see if you can get a loan to pay off all your outstanding credit card balances which has less interest than what you currently pay on the credit cards and a lower monthly payment. Your nominal pending debt stays the sameloan, but it gets transferred todo so by getting a debtbetter loan. One with a lower interest rate and which has a lower minimum monthly payment. That means

The first place to go to would be your bank. See if you will havecan get a much easier timeloan to pay it off over timeall your outstanding credit card balances and has a repayment plan which is easier to handle.

When your bank can't do anything for you, then you might try to negotiate with the credit card companies directly. When a customer struggles financially and is on the verge of declaring personal bankruptcy, then they might agree to a less strict repayment plan in order to recover at least part of the expected money. There is no guarantee that they agree to that, but it's not unheard of. So you can at least give it a try.

When the credit card companies won't budge either, see if there are any of the other fixcosts you can afford to not pay for a while in order to get your credit card debt down. Look into the contracts and find out how many consecutive down payments you can afford to miss before you encounter any serious consequences.

If that fails too, then you might have to downsize your home. Sell it, pay off your credit card debt, and use the remaining money to buy a less expensive home... or rent one.

Credit card debt is supposed to be very short-term, which is why it has horrendous interest rates. So priority 1 should be to look for a way to refinance your credit card debt.

Go to your bank and see if you can get a loan to pay off all your outstanding credit card balances which has less interest than what you currently pay on the credit cards and a lower monthly payment. Your nominal pending debt stays the same, but it gets transferred to a debt with a lower interest rate. That means you will have a much easier time to pay it off over time.

When your bank can't do anything for you, then you might try to negotiate with the credit card companies directly. When a customer struggles financially and is on the verge of declaring personal bankruptcy, then they might agree to a less strict repayment plan in order to recover at least part of the expected money. There is no guarantee that they agree to that, but it's not unheard of. So you can at least give it a try.

When the credit card companies won't budge either, see if there are any of the other fixcosts you can afford to not pay for a while in order to get your credit card debt down. Look into the contracts and find out how many consecutive down payments you can afford to miss before you encounter any serious consequences.

Credit card debt is supposed to be very short-term, which is why it has horrendous interest rates. So priority 1 should be to look for a way to refinance your credit card debt.

Refinancing means to get a loan to pay off a loan, but do so by getting a better loan. One with a lower interest rate and which has a lower minimum monthly payment.

The first place to go to would be your bank. See if you can get a loan to pay off all your outstanding credit card balances and has a repayment plan which is easier to handle.

When your bank can't do anything for you, then you might try to negotiate with the credit card companies directly. When a customer struggles financially and is on the verge of declaring personal bankruptcy, then they might agree to a less strict repayment plan in order to recover at least part of the expected money. There is no guarantee that they agree to that, but it's not unheard of. So you can at least give it a try.

When the credit card companies won't budge either, see if there are any of the other fixcosts you can afford to not pay for a while in order to get your credit card debt down. Look into the contracts and find out how many consecutive down payments you can afford to miss before you encounter any serious consequences.

If that fails too, then you might have to downsize your home. Sell it, pay off your credit card debt, and use the remaining money to buy a less expensive home... or rent one.

added 373 characters in body
Source Link
Philipp
  • 24.1k
  • 4
  • 56
  • 76

Credit card debt is supposed to be very short-term, which is why it has horrendous interest rates. So priority 1 should be to look for a way to refinance your credit card debt.

Go to your bank and see if you can get a loan to pay off all your outstanding credit card balances which has less interest than what you currently pay on the credit cards and a lower monthly payment. Your nominal pending debt stays the same, but it gets transferred to a debt with a lower interest rate. That means you will have a much easier time to pay it off over time.

When your bank can't do anything for you, then you might try to negotiate with the credit card companies directly. When a customer struggles financially and is on the verge of declaring personal bankruptcy, then they might agree to a less strict repayment plan in order to recover at least part of the expected money. There is no guarantee that they agree to that that, but it's not unheard of. So you can at least give it a try.

When the credit card companies won't budge either, see if there are any of the other fixcosts you can afford to not pay for a while in order to get your credit card debt down. Look into the contracts and find out how many consecutive down payments you can afford to miss before you encounter any serious consequences.

Credit card debt is supposed to be very short-term, which is why it has horrendous interest rates. So priority 1 should be to look for a way to refinance your credit card debt.

Go to your bank and see if you can get a loan to pay off all your outstanding credit card balances which has less interest than what you currently pay on the credit cards and a lower monthly payment. Your nominal pending debt stays the same, but it gets transferred to a debt with a lower interest rate. That means you will have a much easier time to pay it off over time.

When your bank can't do anything for you, then you might try to negotiate with the credit card companies directly. When a customer struggles financially and is on the verge of declaring personal bankruptcy, then they might agree to a less strict repayment plan. There is no guarantee that they agree to that that, but it's not unheard of. So you can at least give it a try.

When the credit card companies won't budge either, see if there are any of the other fixcosts you can afford to not pay for a while in order to get your credit card debt down. Look into the contracts and find out how many consecutive down payments you can afford to miss before you encounter any serious consequences.

Credit card debt is supposed to be very short-term, which is why it has horrendous interest rates. So priority 1 should be to look for a way to refinance your credit card debt.

Go to your bank and see if you can get a loan to pay off all your outstanding credit card balances which has less interest than what you currently pay on the credit cards and a lower monthly payment. Your nominal pending debt stays the same, but it gets transferred to a debt with a lower interest rate. That means you will have a much easier time to pay it off over time.

When your bank can't do anything for you, then you might try to negotiate with the credit card companies directly. When a customer struggles financially and is on the verge of declaring personal bankruptcy, then they might agree to a less strict repayment plan in order to recover at least part of the expected money. There is no guarantee that they agree to that, but it's not unheard of. So you can at least give it a try.

When the credit card companies won't budge either, see if there are any of the other fixcosts you can afford to not pay for a while in order to get your credit card debt down. Look into the contracts and find out how many consecutive down payments you can afford to miss before you encounter any serious consequences.

added 373 characters in body
Source Link
Philipp
  • 24.1k
  • 4
  • 56
  • 76
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Philipp
  • 24.1k
  • 4
  • 56
  • 76
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