The 5 Step Guide to Getting Debt Relief Fast

Carrying balances on multiple credit cards is stressful and expensive, and paying them off quickly can be a challenge.

This 5 Step guide can help you develop a plan to pay off your debt or identify the best debt relief option when a traditional payoff plan just won’t cut it.

Step 1: Stop making it so difficult to get debt relief 

The only way to get out of credit card debt is to stop creating new debt while paying off what you owe.

Step 2: Create a budget that’s optimized for getting out of debt

You need to get a budget in place—written out and not just in your head.

It starts by figuring out exactly how much you owe, what it’s costing you, and where each debt stands.

Step 3: Take stock of your debts and decide on a repayment strategy

There are two schools of thought for which debts to pay first: 1. Avalanche 2. Snowball

Step 4: Set up a debt reduction plan

With both strategies, you make minimum payments on all your other credit cards to keep them from falling behind  (or at least further behind than they are). 

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