Tips to Reduce Your Credit Card Debt
- Get information. You can’t start rebuilding your credit until you know what’s in your credit report.
- Change the mistakes. You’d be surprised at how often credit reports are wrong.
- Get credit. Once your credit report is as clean and you meet the credit providers criteria, you can get it.
- Pay your bills and keep credit low. The single biggest factor making up your credit score is your payment history. If you pay your bills on time, your score goes up.
Jim got his first credit card when he was 18. He admits that he was far too young to handle the responsibility and before he knew it the card was maxed out at $10k. He tried to get a loan to reduce his interest repayments, but when the bank couldn’t approve the loan he got another card and used it to pay the first card. Before long, Jim had more than doubled his debt.
The money Jim paid towards the debt was only servicing the interest and other fees, and the debts were not coming down. Jim felt like a mouse in a wheel, running as fast as he can and getting nowhere.
One day Jim was confiding in a friend about his situation. His friend suggested he call Debt Fix because they were able to provide him with options to address his debt situation and chart a path towards debt freedom.
Jim called Debt Fix and spoke with Kylie. At first he was a little embarrassed but Kylie was so professional and spoke to him in such an understanding way, he felt comfortable straight away. Kylie asked Jim all about his situation; she ran through a budget asked him about his debts and his income and assets and for the first time in years Jim felt in control of his situation.
Kylie suggested a number of options Jim never knew existed or thought would be available to him. She told him all the ins and outs of each option and by the end of the conversation Jim felt as if a huge weight had been lifted.
Today, Jim is well on his way to being debt free. The stress and anxiety he once felt has disappeared and he can see the light at the end of the tunnel.
With years of experience and proven track record, Debt Fix is in the unique position that it’s able to offer a range of solutions to people struggling with debt. From Mortgage refinance, personal loans, budgeting assistance, free information and calculators, advocacy services, bankruptcy assistance to formal agreements and more – whatever your situation is, Debt Fix is well positioned to assist you regain control of your situation once and for all.
Contact Debt Fix today, ask to speak with a consultant for a free and no-obligation assessment. Just like Jim, you too can look forward to putting your unmanageable credit debts behind you once and for all.
Debt Fix Fast Fact:
“…When you can’t pay your minimum monthly payment, credit cards allow you to spend money you don’t necessarily have, and in this way are very dangerous for people with limited income. Credit card interest is usually the highest rate of interest for any type of loan. The only way to avoid the high interest is to stop using your credit card for cash advances and to pay the whole balance within the interest-free period.
If you have a credit card and only pay the minimum monthly payment you’ll end up in debt. By paying just the minimum payment, $1000 on your credit card can become an 11 year loan, even with no extra purchases….” www.Moneyhelp.org.au