http://www.debtconsolidationsavior.com/eliminate-credit-card-debt.html Eliminate credit card debt today and enjoy HUGE savings! en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0 Do you dread that feeling each month when it's time to pay bills? Of course you do. Nobody likes paying bills, particularly if they leave you strapped. But instead of resigning yourself to that way of life, why not look into one of the many debt elimination programs that are available? How to Eliminate Credit Card Debt There are so many ways. Of course, if you have enough money, you could pay it off all at once. But then, if you had that much money, you wouldn't be here looking for answers, would you? Maybe you have access to a fair sum of money, but it's not enough to pay everything off. You might want to look into a debt settlement plan to help you eliminate credit card debt. This type of plan lets you pay off your credit card debt at 30-60 cents on the dollar, BUT you have to pay it off all at once. Some debt settlement companies will give you 1-3 years to pay it off, but the reductions might not be as great that way. If you want to preserve your savings but still don't want to spend your life in debt, you can eliminate credit card debt with a debt consolidation program. Under this type of plan, you hire a debt consolidation professional to negotiate with your creditors on your behalf to get your credit card balances and interest rates reduced. Then the lowered balances are combined, and you make one monthly payment to the debt consolidation company at a lower interest rate. They distribute that payment among your creditors for you, and you can be debt free in about five years. Got collateral? Maybe the idea of your credit cards having high balances is really bugging you. If you have collateral, you might be able to eliminate credit card debt with a debt consolidation loan, which is a low-interest loan given to you to pay off your unsecured debts immediately. Then you make a monthly loan payment instead of monthly payments to your creditors. Because of the loan's low interest rate, you can have it paid off in about five years. If you have a house, the best option to eliminate credit card debt is probably going to be a debt consolidation mortgage. This lets you borrow from the equity in your house to eliminate credit card debt or any other kind of unsecured debt. Your payment is combined with your mortgage, and you get the same low interest rate as your mortgage. No matter which credit card debt elimination tool you choose, you'll want to something to eliminate credit card debt as soon as you can. Consider this: A $10,000 debt at 18.5% interest typically takes 32 years and $24,500 to pay off if you don't pay more than the required monthly minimum. But when you enroll in a program designed to eliminate credit card debts, you lower your interest rate dramatically, allowing more money to go towards the principle. The same amount of debt could be paid off in about five years. The average college student owes $2,800 in credit card debt (not including student loans). If he or she pays $50 a month and the interest rate is 18%, it will take more than ten years to eliminate credit card debt and he or she will have paid $6,154. Most of the debt elimination plans we described about will help you eliminate credit card debt in about five years. Compare that to these examples (and compare the amount of money you'll save) and you'll see how much a debt elimination program can benefit you. Sat, 26 Jul 2008 15:00:00 EDT