It’s tough to face the music but even tougher to swim against the currents of high credit card debt. No matter how you got there, it’s not too late to get out of the red this year.
PCS Debt Relief offers the five following strategies for clearing out your credit card debt:
Make Way for an Avalanche
Take a look at your list of debts and order them by highest interest rate to lowest interest rate. Interest rates can unfortunately cost consumers more than just a pretty penny, leaving those who are swimming in credit struggling to pay them off.
You can boost your savings by paying off the debts of your accounts that have the highest interest rates. It will take awhile to see the fruits of your labor but the savings you see in the end will be well worth the time you spent using the debt avalanche method.
Build a Snowball
Unlike the debt avalanche method, the snowball strategy involves paying off the lowest debt payments first, and then moving on to the payments with higher debts attached to them. This is called the “snowball” method because it generates you bigger savings every time a debt is paid. This method is especially useful if you find that you are motivated by progress and reaching small goals as you move on to bigger ones.
You’ll never know unless you ask. You can always ask your credit card carrier to lower your interest rate (either for the long-term or the short-term) if you’ve been a loyal customer over the years. If you’re considering switching over to a different credit card company, your current carrier may be quicker to accommodate your request.
Look into Debt Consolidation
PCS Debt Relief offers several debt relief programs, including credit card debt consolidation. This strategy involves combining your credit card debts into one single account, making it easier for you to make your monthly payments until your debt is eliminated. A debt consolidation program might have you 1) consolidate more than one credit card account into one low-interest credit card program, 2) stack multiple credit card debts into a low-interest loan that is used to pay off your overall credit card debt, or 3) rely on a debt relief management company to negotiate with credit card companies on your behalf for lower payments or interest rates.
Credit card debt settlement, or debt forgiveness, focuses on reducing your overall credit card balance without having to file for bankruptcy. With PCS Debt Relief, you can get out of debt in as little six months. Learn more here.
At PCS, our programs are tailored to the client’s specific financial needs. What sets us apart from our competitors is that clients see relief, before any payment is received. Our NO UP-FRONT FEE policy ensures our client’s a 100% satisfaction guarantee. We also do not charge any monthly fees or any cancellation fees. We want the client to feel comfortable during the whole process that’s why we allow them to be part of it every step of the way.