1.
Aggressive Payment Plans
Some debtors actually “snowball” their debts. Snowballing
means to pay for a debt’s minimum fee then gradually increase your repayments
until you could pay off your debt. By listing all your repayments due for the
month, arranging them in the order of highest to lowest interest rate and
deciding on the minimum constant repayment you could provide to all your debts,
then you could gradually reduce your bills.
2.
Lower Your Interest Rates
Negotiate your credit card interest rates with your lender
or creditor. You could actually save hundreds just by negotiating your interest
rate with your lender. When negotiating, make it a point to point out that you
couldn’t go paying the high credit card rates and that you are considering
other options aside from the credit card. Once the bank or lender reviews your
history and finds you qualify for a lower interest rate, you are in good hands.
However, the results of this alternative cannot be guaranteed completely.
3.
Credit
Card Relief Programs
Not only you suffer from credit card or loan debts as many
people are also having trouble making repayments. In this case, you could
actually get financial assistance from credit card relief programs. Review your
household, education and miscellaneous expenses (which you will need to note
down), lenders may consider helping you by putting you in their credit relief
programs. Most lenders have a financial hardship department.
