Credit Card Debt Management

For both first time credit card owners and those with multiple cards, we all know how easy it is so fall behind on credit card payments. When you first got your credit card it was a great way to buy virtually anything without having to carry wads of cash in your wallet. If you had your credit card during college, you know how much freedom it added to your daily life, especially if your parents were paying for it.

Its easy to run up your credit card debt when you are tight for cash, or have to pay for unforeseen accidents or medical bills. Millions of people all over the world use their credit cards to pay for anything from their weddings to their first summer vacation with their kids. From baseball tickets to lunch. Credit cards are used for everything. Now with the economy in the situation that it is in, more and more people are finding themselves falling behind on payments and other bills.

The first thing you should do when you come to grips your with credit problem, is to cancel your cards. You cancel your cards even with a balance. If you can't blow all of your money on the credit cards, you can't get into much worse debt. Once you've canceled your card, try to pay of at least double your minimum payment to quickly pay off your cards.

Try to look over your credit history annually so you can catch any erroneous remarks or late payments. Don't be afraid to call your creditors and ask them to change any 15 or 30 day late payments to on-time. This is especially handy after two years of any late payments. Most credit card companies only hold records for 2 years so if they can't prove your payment was late they are required to move the remark from your credit history.

Try getting in contact with a debt management program so they can help you cut back the interest rates and payments on your credit cards and consolidate them into 1 easy to pay bill every month. Deb consolidation programs are a great way to help yourself out of debt quickly.

Debt management require a great deal of dedication and commitment. If you can't get yourself to cut back on spending and if you aren't able of getting your credit cards payed off you may never be able to climb out of the debt you've gotten into.

Tom Kranz writes articles on debt prevention and management, debt management solutions, and debt management programs.