I owe $20,000 credit card debt. What can I do to pay off the debt? Should I consult w/ debt conslida

You don%26#039;t need anyone to do it for you. All they do is negotiate your debts for you and collect a fee. You can do it yourself!

Call all of them and work out a payment plan and try to get your interest lowered or stopped.

Then, make the minimum payments on every one of them. On the lowest dollar value, put all your extra effort toward paying it off. Once it is paid off, then roll that extra money to the next largest balance. Continue this snowball until all your debts are paid off.

You probably need to cut your expenses back to the bare minimum. Get rid of cable, cell phones, Internet, etc. Lower your electric bill, gas bill, water bill, etc. Don%26#039;t eat at a restaurant until your debts are under control.

Try to increase your income by getting a second job. If you have a car with payments, get rid of it, and buy a good dependable used car for CASH.

Go to the library and get %26quot;The Total Money Makeover%26quot;. Read it and follow it carefully.

Go check out Dave%26#039;s website as well.

www.daveramsey.com

I owe $20,000 credit card debt. What can I do to pay off the debt? Should I consult w/ debt conslidation co.?

Debt consolidation will charge you to do something you can do yourself.

First thing to do is NOT use credit cards anymore.

If you are current on the bills and have more than 1, pay as much as you can towards the one with the highest interest rate while paying the minimum on the others. Once it%26#039;s paid off, apply that money in addition to the minimum on the one with the next highest rate. Continue this until you have no more credit card debt.

If you%26#039;re able, get a second job so you can get this paid off sooner.

Make a vow to yourself to never use a credit card again unless you have the ability to pay it off in full when the bill is due.

Good luck.

I owe $20,000 credit card debt. What can I do to pay off the debt? Should I consult w/ debt conslidation co.?

Consolidation is the best solution available to the credit cardholders to improve their future credit. People go for debt consolidation for many reasons: prolonging the loan period from 5 - 15 years and reducing the interest rate. Consolidation allows you to go for a loan with lower interest rate than the one you are currently paying. Besides it simplifies the loan repayment as you are paying only one lender in place of various payments to different lenders.

I owe $20,000 credit card debt. What can I do to pay off the debt? Should I consult w/ debt conslidation co.?

There is a great place to go with this. I was in a very similar situation.

This is getting help from real people without the use of banks or credit card companies. Good Luck!

http://www.prosper.com/join/lzc5wh

I owe $20,000 credit card debt. What can I do to pay off the debt? Should I consult w/ debt conslidation co.?

User Rick B just gave you some good advice.

Go to Dave%26#039;s website and follow his plan.

Once you get out of debt, never go into debt again for stupid stuff. A house would be ok, but even try to pay cash for that.

Sell stuff, to pay down your debt.

If you have a car with a big whopping payment, sell that car! Don%26#039;t matter if you owe more than its worth. If that%26#039;s the case, get a $1000 loan or so from the credit union to help the buyer pay for the car.

For example, if you have $20,000 in car debt and the car is worth $18,000, then take out a loan for $4500, sell the car for $18000 and buy another car for $2500. Why? You go from $20,000 in debt to $4500. You can pay $4500 off quicker than $20,000 of car note.

Social life going bye bye for 6 months to a year. Instead of hanging out and spending money, you need to be working and paying off debt. Get a second job.

Using credit is a frikin crutch that makes you lazy and takes away your creativity.

Get FOCUSED!!!!!

Play with fire, you%26#039;ll get burned.

Play with snakes, you%26#039;ll get bitten.

Play with credit.....