You should steer clear of any company that 'promises' you that they can best way to get out of credit card debt fast from your credit report if they are accurate. No matter how painful it might be you have to face the fact that accurate information stays, sometimes up to ten years. If a company claims they can remove accurate information keep looking, they are lying to you.
First you need to stop using credit cards accept maybe one to use for an emergency. If you want to pay off debt, it makes no sense to increase it. So do what you need to do. Shred them, throw them in the fire place, or whatever. Just get in the mind set that you don't use them any more and get rid of them.
One of these means of debt removal is negotiation. Some folks just don't get that they can actually make contact with their creditors and negotiate towards a solution. This is called debt settlement and it's something that many individuals use in order to pay off their old debts and their large debts. But how do you know if this is your best bet? Obviously not every situation is going to be the same, so you need to analyze yours a little bit closer to figure out if you would be better off going with some other solutions.
The good news is that there is a ton of laws on the books that enable us to achieve fairness with regard to the credit bureaus, creditors and collection agencies. You don't have to learn them all. In fact, you would have to become a credit expert to understand the entire credit code. So for the purpose of this article, the ACT which gives the most protection to the consumer when it comes to credit repair is The Fair Credit Reporting Act (FCRA). This law gives people the right to true and accurate credit reporting.
Second, for those of you that do have high-interest debt, you can use your 0 percent balance transfer card to offset this existing debt. Simply transfer high interest credit card balances to your 0 percent credit card and then use the money you save on interest charges to pay down your debt. If you don't pay off the debt before the offer expires, apply for a new 0 percent credit card offer and transfer the balance again. In latter case, your profit comes in the form of savings on interest that you would have otherwise been paying.
Firstly organize your credit cards starting with the most minimal amount first. Pay the minimum amounts on all of the rest, but with the lowest balanced credit card, make an additional payment, so that you can clear it quicker avoiding interest rates. Try not to add to your debts, as there is no point in making a huge effort to pay off one debt. If you are just increasing another by, for example, using your credit card or taking out more loans. You should avoid using any credit facilities for as long as you possibly can.
