Two Proven Ways for Avoiding Credit Card Debt from Piling Up

Two Proven Ways for Avoiding Credit Card Debt from Piling Up

Credit cards can become a big burden rather than a convenience. Why’s that, you ask? Well, credit cards can get maxed out pretty fast if you’re not watchful. Since there’s little credit available on the market, cards can soon become useless—especially in the case of paying unexpected expenses or emergencies.

Plus, maintaining a high balance on your credit card can ruin your score. What else? The debt can easily become unmanageable when interest rates are sky-high. That’s when you’ll find it difficult to pay off the debt.

So, the thing is that you need to avoid credit card debt from piling up. Which is why, we’ll share a couple of top ways for not letting credit card debts from blocking your life.

Freeze The Cards First things first, you need to stop depending on any kind of credit cards for buying stuff. You should plan things in a way that you’re easily covering your monthly expense from your own checking account. And in case you want to pay off your debt, you’ll have to plan even more thoughtfully. The first step, however, is to eliminate the use of these cards out and out.

The best tip: Delete your card info from every online store you use. Most people give in to their urge of impulsive buying only because their card info is stored in a specific online store. You may visit that store, you may browse the products over there, and then you may end up liking something. That’s when you’ll select the credit card option for making the payment.

Because when you use a credit card, the money from your account won’t get deducted then and there.

Creating Clear-Cut Payment plans To begin with, make an entire list of your credit cards. Once you’ve got the list ready, you need to arrange them in a specific way; you can arrange the cards either by interest rate (the highest one first) or through balance (the lowest one first).

Both of these plans have their own negatives or positives. The balance plan will be psychologically easier to accomplish, though. Once you have prepared the list, challenge yourself in making a double payment on a monthly basis to the top bill. Now, keep making that same payment every single month. When that payment amount is paid off, don’t slacken. Take whatever amount you were paying for that very card and apply that to the next card on your list.

That’s when you’ll start steamrolling the entire sea of debt.

So, here, are the top two tips for managing your credit card debt just like a pro.

A bonus tip: Consider getting legal support If, however, you need legal assistance related to managing the debt of credit cards, then get a credit card debt attorney on board.

With the experience and expertise of a team of credit card debt defense lawyers, you’ll find eliminating your debt quite fast. With professional expertise in your corner, you’ll know different legal frameworks—Chapter 7 and Chapter 13—you can use for managing credit card debt the legal way.

An expert attorney can file for bankruptcy using Chapter 7 and Chapter 13 programs; this way, with legal help, you can get rid of debt.

Here’s a brief rundown on Chapter 7 and Chapter 13 legal frameworks that’ll help you file for bankruptcy.

Also referred to as liquidation bankruptcy, Chapter 7 lets you sell most of your properties to clear the debt. Usually, this bankruptcy program is meant for those who have limited incomes and lack the ability to pay off their debt.

While Chapter 13 bankruptcy program will let you reorganize bankruptcy altogether. As per this program, you won’t need to sell your property. In case you complete court-ordered repayment program, you might keep your property while removing the debt.

Through qualified legal help, you can not only file for bankruptcy but also save your home form a foreclosure, stop your car’s repossession, or remove medical debt. In short, with legal help, you can make a fresh start and put an end to the stress caused by debt.

Well, then, begin finding a good attorney if you think that your credit card debt has gone beyond self-management. Good luck!