| We all know that the best way to address debt is to | | | | idea when plastic replaced cash in the early nineties, |
| just stop incurring it. Sometimes, that means the best | | | | but it led to too-easy spending, and an explosion of |
| way to deal with your debt load is to get rid of the | | | | credit debt. If you have debt repayment problems, |
| source of the problem, often credit cards. So what's | | | | start buying with true green, and go directly to your |
| the number one tip to address credit card debt? | | | | bank to get it. Do not use automated bank machines, |
| 1. Cut up your credit cards, put 'em on ice, melt 'em | | | | which can charge a small fortune for withdrawals. |
| down-choose your poison. Just get rid of them. Then, | | | | 4. Get yourself on a budget. Figure out what your |
| shut them down. Just destroying your card doesn't | | | | debts are, and how much money you make. Then, pay |
| always close the account. To avoid running into the | | | | something towards those debts every month-even if |
| same problem again, you have to actively close your | | | | it's just the minimum. Don't miss a payment. If your |
| credit card account in a signed, written request (no | | | | debts are really overwhelming, there's another tip that |
| emails) to the credit card holder. Generally, credit card | | | | may be just the answer for you. |
| companies only allow you to close your credit card | | | | 5. Consider using other assets to help pay off your |
| when you've reached a zero balance. So, to help you | | | | debt. If you're in a really tight spot, and missing |
| do that, there's tip number two. | | | | payments, or have stopped paying altogether, you |
| 2. Transfer credit card debts to your lowest-interest | | | | need a fast cash infusion to bail you out now. A car |
| card. Let's say you owe $2500 on a high-interest card. | | | | title loan may be the perfect answer for you, |
| You have a lower-interest card with room to carry | | | | especially if you have a poor credit history. If you own |
| that debt-or even some of it. Transfer as much as | | | | your car, and it's less than eight years old, you may be |
| you can to the lower-interest card, then fully pay off | | | | able to borrow as much as 40% of the wholesale |
| and shut down the higher-interest card. Keep | | | | value of your car. Take that cash, and pay off those |
| transferring and paying down until you have only one | | | | credit cards, and make one easy monthly payment to |
| or two cards left-and keep those under lock and key | | | | your car title loan. You can apply online. It's fast and |
| for emergency use only. So how will you buy | | | | easy, and by tomorrow, you may have relieved a lot |
| anything? | | | | of financial strain on you and your family. |
| 3. Start paying with cash. It seemed like such a great | | | | |