About 70% of Americans are simply swimming in debt, especially CREDIT CARD DEBT.

debt consolidationdebt planningAlthough it is very possible, living debt-free is not an easy task, especially if you are thousands of dollars in credit card debt. There is no quick-fix solution to this problem, but if you follow a few simple steps, you can work your way to a better, debt-free life.

While your mortgage and your car loan are positive steps in the right direction (after all, you are building equity in good solid assets), it is the store cards and credit cards which will give you the most trouble.

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Credit card debt affects millions of people around the world - it is a financial epidemic! Individuals who suffer from too much CC debt spend their time to pay off their expenses from the past, instead of planning for and saving for the future. If this sounds familiar to you, it's time to start attacking your CC debt and getting to the point where you are living debt-free.

The very first thing you must do, which is by far the hardest, is to eliminate the temptation of using your credit cards by getting rid of them completely.

If you continue to spend on these high-interest cards, you will never get out of debt and your life will always be a financial struggle. So, select the lowest interest credit card and put it aside for emergencies, and then take out your scissors for a credit card freedom ceremony. You have made the decision to get out of debt and take charge of your financial destiny.

Now, if you are already in financial difficulties, you may need to take some other steps to get on track. One of the best ways to lower interest rates and simplify your life is to take out a debt consolidation loan, assuming you can qualify. A debt consolidation loan allows you to pay off all of your outstanding credit card debt and now have only one monthly payment to worry about. And, best of all, you will usually get a much lower interest rate for a debt consolidation loan than you had for your credit cards, saving even more money.

Another option for those in financial difficulty now is a Debt Agreement with your creditors. For those who are having difficulty making minimum payments, you would talk to your credit card companies and negotiate a payment compromise that allows you to control the amount of money that you pay every month. A Debt Agreement is a last resort prior to filing for personal bankruptcy, and should only be considered in the most extreme of circumstances. And, the credit card companies may always reject your proposal.

Some of the different types of Debt Agreements that might be put in place include payment of less than the full amount of some or all of your debts; a moratorium on payments for some period of time to give you a chance to save funds; transfer of property from the debtor to the creditor as full or partial payment, and payments directly out of your income to your creditors.

Hopefully, you will be able to bet back on your feet without taking the extreme measure above. So, to avoid this type of problem, take control of your credit card debt today!

Famous great quotes on Money and Debt:

Make money your god and it will plague you like the devil. - Henry Fielding quote.

The easiest way for your children to learn about money is for you not to have any. - Katharine Whitehorn quote.

Many delight more in giving of presents than in paying their debts. - Sir Philip Sidney quote.

The mint makes it first, it is up to you to make it last. - Evan Esar quote.

Lack of money is the root of all evil. - George Bernard Shaw quote.

Don't stay in bed, unless you can make money in bed. - George Burns quote.

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DISCLAIMER: The law will vary depending on your state, jurisdiction and the specifics of your case. The information provided by Consolidate-Credit-Card.Net is intended for educational purposes only. All the content on this website should NOT be considered professional advice or a substitute for professional advice. For such services, we recommend getting a free initial consultation by a licensed debt counselor in your state.

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