How can I come out of credit card debt ? Please help?

I work for a media company. To keep up with the latest trend like my rich colleagues I developed the habit of spending on mobiles, clothes, throwing parties etc irrespective of my budget. Now I have realised that I was abusing my credit card facility. I m in grave debt. How can I come out of it.

9 Replies to “How can I come out of credit card debt ? Please help?”

  1. Only way is to stop spending and using the money to pay your credit cards. Sit down, make yourself a budget leaving as much left over as you can for teh debt. Then live by the budget.

  2. Stop trying to ‘keep up’ with your rich colleagues. Spend your ‘hard earned’ money on paying your credit cards off and live a humble life.

  3. Plastic surgery is warrented here. Cut those cards up and start paying off the balances. You are a prime example of a person who spends money that he doesn’t have, to buy things that you don’t need just to impress people that you don’t like. It doesn’t make sense.

  4. if you have another card opt for balance transfer spread out over longest period OR for a period which is interest free.
    the concentrate on repaying the second card you have(from which you have opted bal.trans.),use the first card in a emergency.better still keep it in your bank locker.
    avoid accumulation of arrears.

  5. YOU have to have a budget and stick to it,you will find out soon enough its not worth all the drama and stress trying to impress people who still think you look fat or distasteful in your new outfit,be proud of you and impress yourself.

  6. Hello,

    How are you doing?I am Richard a private loan lender giving out loan of any amount to those in need of it at a low rate of 5%.

  7. You know the fact that this debt cant be recovered . So its high time you think practically . You must be paying minimum dues every month but that will never help you to get your total dues recover . Credit cards work on compounding interest ,so minimum dues wont work and you will be left with the same amount due even though you pay minimum dues . The best thing you can do is stop paying any more money to credit cards and also never issue any checks to them untill you have funds in your account to clear it . The only option left with you is settlement with a 10% to max 25 % of total dues . This is a good method to clear your debts and get rid of all cards and you can live future life peacefully . Settlement has to be done in appropriate way as you have to be very tricky with the collection department . I will help you out with the complete script from start to end . just email me the amount total dues you have with individual banks and bank name and also mention the card limit you had with the respective banks . I will draft a settlement plan for you and will reply you back . Remember this is the only method to get rid of dues . and yeh dont go for any loans or card to settle your previous dues , this will only increase you debt and will not help in any way .

  8. I went through the same scenario last year. Every month I was paying the minimum due on my credit card, and still my outstanding remained the same or increased. I kept wondering why isn’t the outstanding reducing. I used to feel sick every month when I received the statement and started getting depressed. However I had to keep-up with my spending due to peer pressure. Before I knew it I was in severe debt and unable to manage funds.

    Luckily a friend of mine saw an ad in the paper and referred me to a company in Bangalore called Debt Doctor. They helped me to understand what I was doing wrong and showed me the correct way for me to get out my debt issues. Thanks Debt Doctor for your help. Now, I feel very much in control of my money and finances.

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