What is the best way to get rid of credit card debts?

Hi komprasone!

Welcome to forums!

You will have to pay off the credit card dues in full in order to get rid of the debts. If you cannot pay off the dues in full, then you will have to negotiate with the credit card companies so that they offer you an affordable repayment plan in order to pay off the balance in full.

Feel free to ask if you've further queries.

Sussane

You can call the credit card companies directly and try to work on a settlement if you cannot pay the full balance off. If you have over 20k in credit card debt you may want to look at bankruptcy. If you have under 5k in credit card debt take the smaller of the credit card balances you have and settle on a reduced balance and start making payments monthly. It really depends on the load of credit card debt you are talking about. I always go over my budget at the beginning of a new year and look at my credit report (all 3 with fico scores) and see what can be taken off, and what is reporting on it. IF you do not have a budget start one, it is the best way to keep track on how what you are spending, how fast you can pay off debt etc... I great website that is free is mint.com or you can use an excel spread sheet. If you would like a copy of an excel spreadsheet you can email me and I can send you the one I use and customize it the way you want.

I've been where you are probably am and I now only have one credit card, no car payment and money in the bank! I only buy want I need and save up for what I want. Debt free is the only way to be!!!