Debt Relief Advice - Legally Eliminate Credit Card Debt

Legally Eliminate Credit Card Debt

Ways to Legally Eliminate Credit Card Debt

Today, the need to eliminate credit card debt is great. The average American household carries over $9,000 in credit card debt. But there are ways you can legally eliminate credit card debt--or at least stop using your credit cards so much:

Some credit card companies are making it easier and easier to use your credit cards by making them small enough to put on your keychain. n addition to being a security risk if you would lose your keys, it makes it easier to spend because you don't have to dig for your credit card in your purse or wallet. To avoid the temptation, avoid these types of credit cards.
Set goals. If you are saving for a car or some other special purchase, wrap your credit card in a picture of that purchase (from a catalog or ad or something). This will remind you not to incur any more credit card debt or at the very least to think about what you're using your credit card for.
Some credit card companies will allow you to set up a system through which "alerts" can be sent to you via email or cell phone if your balance gets above a certain point that you select.
Freeze your credit cards in a glass of water. If you have to wait for the water to melt (and the microwave is not a good option here) it will give you time to think about if you really want to make a particular purchase. It makes it a hassle to use your cards too, so you may learn to live within the means provided by the money you actually have in the bank. Besides, when we use credit cards, we tend to spend 30% more than we do when using debit cards, cash or checks.
Make a deal with yourself. For every penny you spend on your credit card, put that same amount in a savings account. This way you can keep tabs on your spending and you'll have enough to pay the bill in full each month. You might find this to be so much of a hassle that you'll stop using your credit cards altogether and just use the money you would have transferred for your purchases.

Although these aren't exactly methods to legally eliminate credit card debt, they are ways to avoid it. To legally eliminate credit card debt, you can try transferring your balances to a lower interest rate card or enrolling in a debt management program. Transferring your balance to a low interest card is a good idea, particularly if there's an introductory period with a 0% rate. If you can transfer all your credit card balances to that card and pay it off during the 0% introductory period, this is an excellent way to legally eliminate credit card debt.

If this isn't an option for you, there are lots of good debt management programs out there, all designed to legally eliminate credit card debt. Give one of them a try and see!

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