Credit card debt It is like a beaver that swirls around you. When trying to get the first debt The next debt will follow the kind as a shadow by itself. But if anyone wants to withdraw from this debt cycle This year, let's set a goal to get out of credit card debt within a year, from six steps taken from the real life of a credit card debt person. With the total amount higher than 900,000 baht and the debtor who reveals this trick, it can be discharged within 1 year. Want to know what steps are there? Let's read.
1. Explore all the credit card debt you have.
Important things before taking into account debt Is survey all your credit card debt Must be taken without hiding the seed at all, which leaf has been used And then make a list of all the debts And divide it into which card is the highest, sorted by interest rate and payment date. Once you have all the information, move on to the second step.
2.Limit your own money and stop using credit cards.
If wanting to get out of the credit card debt cycle How much work is done to fill out credit card debt The first thing to do is limit your spending. And limit the use of their own credit card Then try to earn more money than regular income. Cut off your luxury expenses to cover up on your credit card debt.
3. Trying to pay off the debt on schedule, even if you have to pay the minimum.
Maintaining status as a good debtor Is able to pay the debt on schedule It will have a positive effect on your credit score. That your credit score in the credit bureaus should not be compromised by credit card debt. Therefore, to pay the debt on schedule Even if it is the minimum payment, it should still be done. And if so, it will be an automatic deduction with the minimum payment. Because at least you won't have too much of any outstanding interest left.
4. If you're unable to pay off all of your credit card debt at once, pay more than the minimum amount.
If you can afford more than the minimum payment But unable to pay the total amount at once Pay more than the minimum amount. And keep doing it regularly Until your debt runs out Because the money that exceeds the minimum amount will be deducted for both the principal and the interest. Keep your debt balance down.
5. Survey your existing debt every month
Completing the debt in one year It is necessary to survey how much your credit card debt has gone down. If the reduction is not much, you will be able to raise money to pay more debt. But if reduced to the target set And you can still pay Then asked to pay more So that your debt will expire faster than the set period of 1 year.
6. When you have strength, pay off your debts at once.
When you arrive at the final and have always had the discipline. Your debt balance will continue to decline as it reaches a point where you can afford to pay off at once. Then arrange to pay without hesitation Because there is no need to sit and lose the expensive interest once the debt burden is successfully released Then do much to refrain from incurring new debts Because otherwise your New Year's resolution or your New Year's resolution every year. May be the same credit card debtor every year, it is not. Remember that not having debt is good fortune. So it is best to get relief from the debt burden.
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