Merchant Accounts

AP - Isiah Thomas couldn't win as coach with the players he assembled as president. Now, he's lost both jobs. Thomas was fired as the New York Knicks coach Friday after a season of listless and dreadful basketball, a tawdry lawsuit and unending chants from fans demanding his dismissal.

Even if you are in the deepest of credit card debts, there is a way out. You need to have loads of determination to come out of it, of course, and you need to make good planning for it too. But a viable credit card solution does exist. If you find your determination flagging, then just think how good it will be if you are free from this credit card debt in six months... Well, that should surely be a great impetus to make you sally forth.

First, plan your monthly budget.

You will need a lot of proper budgeting to come out of the mess. Make an account of how much you are earning in a month. Then make another list of all your credit card dues per month. First start only with the minimum monthly dues. Since these amounts will vary from one month to another, put in a round figure. You must make a calculation of how much amount you will need to pay each month as minimum dues. When the figure is out in front, you will not find it so intimidating. Now, you have to make a budget for all your outgoings, and make proper space for your credit card bills. This is possible, and if not, try stopping some expenses you can do without. Chin up, you will only have to scrape and scrounge for a few months.

Next, increase your income.

Take up a supplementary job now. Even if you see your budget is affording your minimum credit card bills, you must increase your income so that you can get out of the indebtedness faster. You can think of a work-at-home job that requires no investment (search on the Internet, there are plenty of freelance jobsites you can register on for free) or take up a part time job somewhere. Do not invest any money, especially in hazy places like the stock market. You need to be sure you are getting returns at the end of the day.

Now, get some debt counseling done.

When you have done all of this, scout around for a good debt counselor. Look on the Internet for genuine providers and speak with them. Remember that your situation is already improving due to your own efforts of points 1 and 2, so now the counselors will be more enthusiastic in solving the larger problem. They will suggest you some ways by which you can get out of your debt forever. Yes, forever! One of these ways is credit card debt consolidation, also known as credit card debt refinancing. Here, they will offer to repay all your dues to the various credit card companies, and you have to only make payments to the consolidators. This is a good workable plan, because your interest rate decreases significantly, and you make only one lump sum payment a month, so you can manage it better. Find out more details from the counselor before going ahead.

Finally, act!

Ah, you are acting already... but with everything into place, you must become more aggressive to seek your credit debt solution faster. You have to make your payment to the consolidators still, but with your planned budget and added income (and also lowered payments), this becomes easier.

Sooner than you think, you will be out of the credit card debt forever. And you will be looking at a more beautiful life ahead!

Neil D'Silva writes a lot on finance related topics, especially dealing with the US. He also runs a content writing business.

posted by ma31592  # 9:59 PM