1- Stop all your credit card and keep only one for
emergencies. Always use cash instead. And for the
one you keep, be sure to choose one with the lowest
interest rate and best credit facilities. If you
search you find. If you are a student, look for
student plans with zero monthly fees and very low
interests and also a low renewal fee.
2- Cancel all of your credit lines and request a lower
interest rate on the debt you have left.
3- If you have multiple credit cards, transfer the
debts to the card with the lowest interest rate or
get a debt-consolidation loan from a bank at a very
4- Use cash! And buy what you really need only!
5- Pay off the debts with the highest interest rate
6- Add an extra payment on the next debt by taking the
payment you made on the first debt and adding it to
the current debt.
7- Always have you notepad or PDA with you and invest
in personal finance software to track your spending.
Search the web and you will find great software for
competitive prices. Also invest in debt-reduction
software, it will help you calculate and create a
debt reduction plan.
8- If you have investments that are paying lower
percent then the credit card interest rate, cash out
your investments and pay off your debt.
9- Use consumer credit agencies to arrange repayment
of debt. Many are free.