10-27-2018, 12:11 AM
(This post was last modified: 10-27-2018, 12:28 AM by GreatSpirit.)
Good strategies I find to help get rid of your credit card debt. Firstly, change your spending habits. Simple.
- Default on the debt and take the risk of being sued. I was lucky I didn't. Good news about this option is that its unlikely you'll be sued. This is really a last resort if you're struggling.
- Settle with the credit card company. This usually occurs before its about to be charged off. They'll send you a letter or contact your creditor to negotiate.
- Play hardball. Tell them you agree to pay (this keeps you from being sued), but only on the condition that the debt is valid and demand a copy of the contract that was signed in wet ink by both parties, along with documentation of the collateral that was put up by both parties. Banks can't lend deposits from its members. Not a wise option if you don't know what you're doing.
- Or, use all of your disposable income left after each paycheck towards 1 chosen credit card. Then use just that credit card for purchases like food. This way, it forces you to spend less. Try your best to avoid buying bs items. Continue to repeat the process with other cards.
The cool thing about credit cards is that assuming the account is still open, you get that money back as credit after you pay your bill. They can easily get you out of jams. Think of a credit card as someone taking you out to dinner, but making you pay the bill.
However I really think that in a few years, we'll be dealing with a new world financial system. No more credit that you pay back with interest, but grants will be given out, and everyone will have a max amount. If you go over that in your lifetime and need more..well you're SOL. The main point is no more global financial debt slavery.
- Default on the debt and take the risk of being sued. I was lucky I didn't. Good news about this option is that its unlikely you'll be sued. This is really a last resort if you're struggling.
- Settle with the credit card company. This usually occurs before its about to be charged off. They'll send you a letter or contact your creditor to negotiate.
- Play hardball. Tell them you agree to pay (this keeps you from being sued), but only on the condition that the debt is valid and demand a copy of the contract that was signed in wet ink by both parties, along with documentation of the collateral that was put up by both parties. Banks can't lend deposits from its members. Not a wise option if you don't know what you're doing.
- Or, use all of your disposable income left after each paycheck towards 1 chosen credit card. Then use just that credit card for purchases like food. This way, it forces you to spend less. Try your best to avoid buying bs items. Continue to repeat the process with other cards.
The cool thing about credit cards is that assuming the account is still open, you get that money back as credit after you pay your bill. They can easily get you out of jams. Think of a credit card as someone taking you out to dinner, but making you pay the bill.
However I really think that in a few years, we'll be dealing with a new world financial system. No more credit that you pay back with interest, but grants will be given out, and everyone will have a max amount. If you go over that in your lifetime and need more..well you're SOL. The main point is no more global financial debt slavery.
