What is the best way to pay off large credit card debits?  Loans???
930458
The first step is to stop using the cards!  I keep my credit cards at home in a safe place so that I do not get tempted to use them while I am out and about.  Once you have done that, the next step it to look at your budget.  You can easliy make a spreedsheet  in excel to keep track of what you pay each month.  When you know how much you HAVE to spend (like rent, food, gas, etc) then the money left over goes to things such as credit card bills and extra spending money.  What works for me is to start paying off the smaller bill first...I like to see that I have completed something.  That way, you also have more money to pay on the larger bills.  Only in extreme cases: try to tranfer the larger balances to another card that has a smaller interest rate.  If you do that, CANCEL the cards that you just zeroed out.  That way, you will be paying less....but you should CANCEL the zero balance card.  It would be good to just have one credit card for emergencies.
1137482
As a generic rule of thumb, when you start your debt pay-off snowball...\n\n1.  Cut up the cards\n2.  Pay minimum payments on all but the one with the lowest balance.\n3.  On the one with the lowest-balance, pay all that you can until it's paid off, then do the same to the next one, then the next one, so on.\n\nHowever, I, personally, would do that in the order of highest interest-rate, but I make quite a bit more than my payments need, and have lots of room to flex.\n\nDo NOT consolidate, unless you can take high-interest debt into low-interest, with no transfer fees.  The goal here is to avoid throwing unnecessary money out the window, and actually making some progress.  \n\nIf you have equity in your house, you may be able to roll your CC debt into a 2nd mortgate or HELOC (home equity line of credit), that you attack as aggressively as you possibly can until paid off.\n\nIt doesn't matter where debt is, it's still debt.  The only way to get rid of it is to throw money at it as aggressively as possible.  It may take years, so be patient.\n\nSome things that can help: garage sales, selling unnecessary stuff on eBay or elsewhere, sell a car and buy a reliable used one, spend less on living, reduce other bills like cable/satellite service, etc.  You need to make your income work for you.  In fact, it may not be a bad idea to pick up a simple evening job as a 2nd, until you pull your head above water (pizza delivery, for example).\n\nI hate to be so blunt, but it may take some serious sacrifice, on your part, to get ahead.  Your income and determination are the only things that can do this.
314825
You should be able to cancel those debits.  You'll need to contract the companies and cancel your scheduled debit.  I would also contact your bank and see if you can block those debits too.
762592
I work in the credit industry and there are several ways you can go about tackling this.  First off, take comfort in the knowledge that $6k is not a lot to owe, but if you don't pay it the right way, it will become a long term problem.\n\nStep one: contact your credit card companies and request that they lower your interest rate.  if you have been a good consumer they will most likely lower the rate... if you have not been paying on time and look like a risk, they will put up a fight... no matter what, do not give up on the idea that you can lower your interest rate...\n\nIf you have been on time tell them that you are considering obtaining a different card, and unless they can lower the rate you are simply going to transfer your balance to a new card and cancel the account.\n\nIf you have been bad at staying on time with your payments - then its time to get current and stay current.  After 6 months of being timely with your payments they will lower your APR.\n\n\nnext step is to develop a repayment plan... if you can out $200 per month toward the debt you should be done in under 3 yrs.  I would suggest that you set yourself up to pay your bills on line using an auto bill pay system, most banks offer this service free of charge and it is a quick way to have your payments go out.  Its also easy to track and manage.     Set yourself up to pay every 2 weeks.  ($6k means your monthly minimum is probably $120 - $135) try an set it so that you make this payment every time you get paid... the more money you can spare towards the debt the faster it will be paid off.\n\n\nIn the meantime you will also want to set up a household budget to see how much money is coming in and out of every dollar, how many pennies are being committed to bills.  Once you know what you have to work with it will be easier to plan out the upcoming months.\n\nIf you have a lot of extra cash that you can put toward the debt, make sure that you also set aside a reasonable amount into your savings account (if you have $150 that you can send to your card - send $130 and put $20 into savings) \n\nThe reason that you want to put money in savings is that you will begin to build up solvency - meaning that you won't have to rely on credit should some unexpected expense come up... (new tires, emergency repairs, etc)\n\nFinally, once you have paid off the debts, DO NOT STOP PAYING- only change where you are sending the money... what I mean is, put that $150 into your savings account so that you can start building up a bit of a nest egg.  Having accessable cash help to further stabilize your finances.  Everyone should have at least 6 months worth of living expenses available to them in their savings account.\n\nThis is an emergency fund that will prevent you from going back into debt should you lose your job, have to move or encounter a large expense down the road (want to buy a home, etc) \n\nThere are several professional services that can help such as Debt Management and Settlement Companies, but if you are responsible and can handle taking 3 hours a month to look over your situation you don't really need them.  Always be proactive with your debts, always look for ways to save.  With a little patience, self-control and determination you will be out of debt in no time.\n\nBest of luck to you.
226886
It is better to call your Credit Card Company to ask for lower payments then sending them a letter. You get results a lot faster!!!!!
500015
NOT TRUE!!!\n\nI just got done with a Credit management company.  Smart Credit Management Group.  They don't give you a loan to pay off your credit cards, instead you give all of the CC information and they call your creditors on your behalf.  Negotiate lower APR's and monthly payments.  Once your cc company has accepted this offer you send one  monthly payment to your credit management company and they send payments to all of your creditors.\n\nStudly is correct.  \n\nYou will have to pay a small monthly fee for their services.  We paid $48.00 per month.  Which I think is a small price to pay to get your sanity back.  Going from over $1000.00 per month in debt to just a hair over $700.00 was a welcomed relief.  \n\nAlso, if your currently behind in your payments on a regular basis, this wont be any different then that.  The only thing that it did to my credit report is on each of my creditors it showed that I was working with a debt management company.  In which you have to look at your situation and kind of pick your poison as they say.
472934
You can get a loan from your credit card. Ask for a cash advance. However, use it only for an emergency because it charges very high rates.
479278
I agree with each of the responses ahead of me in part.  Of course you want to pay off balances quickly, particularly if they are large balances with high interest rates.  The finance chargees you're paying are just money out the window. \n\nFirst things first, hopefully your balances are not so high that you can't, at the very least, pay 50% more than the minimum required payment.  Next, look at the card generating the highest actual finance charges and increase the amount you pay on that card to double the minimum.  Start reducing other payments to 25% above the minimum, starting with the card generating the LOWEST ACTUAL finance charges.  Follow this system until your credit balances are paid.\n\nAs you go along it's good to evaluate what you're spending your money on each month.  Credit cards should only be used in emergency situations.  Personally, we use our cards for life essentials and pay off the balance each month, with some limited exceptions.\n\nOnce you've paid off your balances cut up the cards with the highest finance charge rates but do not cancel them yet.  Once you cancel a card you also lose allof the history which goes along with it but cutting up the cards limits your ability to use them.  Don't cut them all.  Save one with a low rate for use in emergencies.\n\nThe trick to minimizing credit card debt is discipline in spending and knowing what it is you're buying each time you use the card.  For every month you leave an open balance that loaf of bread, tank of gas or round of drinks gets more and more expensive.\n\nGood luck.
308406
Yeah-- don't fall for that "consolidation" stuff. It'll damage your credit.\n\nIt's all about the interest rate. Figure out what interest rate you are paying on your cards and try to get the balance(s) all transferred to the lower rate.\n\nA lot of credit card companies try to get you to use them by hooking you in with a zero or low rate for balance transfers. Get one of these offers and transfer all your balances to it. And don't put any purchases on that card! If you put a purchase on it, the zero interest rate no longer applies and won't until the entire balance is paid off.\n\nYou might not be able to get another card. If not, just pay the larger interest cards off first. If interest rates are the same, it doesn't matter if you pay on a bunch of cards or one-- you end up paying the same. It's a hassle to make more than one payment, though.\n\nJust play the rates-- pay higher rates off first; shop around for transferring to a lower-rate card or offer.\n\nGood luck!
123994
Loan consolidation is the KEY! But to do this I'd first research some of these credit-repair companies with a nationally certified rating service. Pick a well rated company and get busy. Also if you own any security instruments you can sell them for quick cash.
118797
Buy some furniture and pay it off on their 30/60/90 day no interst plan.\n Be sure to pay off the balance on the third payment.\n\nReally, you are young and have a lifetime to pay their pockets.  You won't have any problem getting a credit card. Ask me later how you can get out from under 20k debt.
324464
concentrate on paying off your highest interst loan first, like a credit card that can be 18% or more.  then pay off the 2nd highest debt, etc.  you have to make more than just minimum payments to make any headway at all.
59722
How long have you got?\n\nYou can't wipe out bad credit - no matter what the scam artist will tell you.\n\nYou get rid of your bad credit by paying all of your bills on time from now on.\n\nYou pay off all of your existing bills.\n\nYou buy only what you can afford from now on. And that means a lot of the time you don't buy stuff you want until you've got the cash in your pocket - and even then you might not buy it because you'll use that cash to pay off your bills from before.\n\nYou may be able to negotiate payment plans with some of your creditors, or go to a legitimate credit counselling agency (call you state consumer protection folks for advice) and they may be able to help - but maybe not.\n\nAvoid the scam artists that say they can get you out of debt, now! or the ones who try to get you to establish some kind of a new identity - they're just going to get you in trouble worse than you're in now.\n\nIt sucks. You can't do it overnight. And you're going to be paying inflated interest rates for a long time. Forget those 0% credit offers - you probably won't qualify for the next few years.\n\nBut you'll be better off in the long run. And you'll be a lot richer in the long run, too. How do you think rich folks get that way? They manage their money, they pay their bills, they invest in boring but consistent and safe stuff - like index mutual funds. They put all they can into things like 401k's at work.\n\nYou'll get their, but its going to take patience and slogging and not having a bunch of stuff you want. At least right now. But you can make it, if you're willing to make the sacrifice.\n\nReality bites. But you can learn to deal with it.\n\nGood luck
376137
Ouch!  I too struggle with this question.  Two suggestions.  First pay off all those high interest credit cards immediately.  If that is part of the problem -- make a list of all your credit cards, listing them by interest rates and minimal payments.  Pay the minimal on all cards except the one with the highest interest -- whereas, you should pay as much as possible on this one card.  Pay it off, then move to the next card on your list.  The key is NOT to miss a payment ever.  This hurts your overall credit score the worst.\n\nThe second suggestion is to pay yourself first.  If your pay checks are direct deposited I suggest that you have a certain amount go directly into a saving account.  Say you make $300 a week -- you may want to have $50 go to savings and the remainder go to your checking.  Thus, the name -- "pay yourself first."\n\nGood luck
1094421
pay cash for things not charge. payoff what debt you have as soon as possible by making payments for more than the minumin due.
439232
Paypal would be the best way, many merchants take PayPal, but far from all. I have also used a credit line called "Buy It Now" with some merchants and like it too.
895082
You need to sit down and make a list of all your monthly bills that don't change.  Rent/mortgage, car note, insurance, etc.  Then estimate your variable bills like utilities, gas, food, etc.  Subtract these from your monthly income.  What you have left over is BILL PAYING MONEY.  Divide this number by two and that will tell you how much money you should put towards those CC payments at EACH paycheck.  Don't just pay those cards once a month.  Pay them every time you get paid!  This will reduce the interest charges you incur, as well as increase your credit score because you have a lower revolving balance.  The faster you pay it down the better off you will be.  Once you get that under control, set a limitation on yourself. Never put more charges on that card than the extra money left after bills that you calculated earlier.  I know this sounds tedious, but will some discipline you'll get the hang of it and it will be like second nature after a while.  Pay down the bills with the highest interest rate the fastest, but don't ignore the other ones.  Have fun with it and mark your paydays on your calendar ahead of time to remind yourself to pay those bills!  I started doing this almost a year ago and my credit score is now 740.  I started at 640!  Every time you want to buy something unneccessary and charge it, just think about how much better off you'll be if you maybe wait a while until you can afford to pay cash for that same item.