Credit card debts have nonetheless become the most hyped-up financial issue for Americans as they seem to be unwilling to reduce their credit card debts for anything. In spite of the presence of various credit card debt relief programs, which is why may be we keep falling into the same traps again and again. The interest rate on a credit card balance is usually between 10-30% APR. These high interest rates make it difficult for people to pay down their debt -- especially if only making the minimum payment. In fact, just making minimum payments can make even the smallest balance over a decade to pay off and thousands of dollars in finance charges. It's no wonder getting out of debt seems so hard. The situation could not be controlled even after revising the new credit card debt laws and acts. Fortunately there are ways which can help you get out of credit card debt. Start with listing each of your credit cards and include the outstanding balance, interest rate and minimum payment and the information can be found in your last monthly statement. Next, Order the cards on the list so that the credit card with the highest interest rate is at the top, and the lowest is at the bottom followed by adding up the total minimum payments. Remember that lowering credit card debt has got to do with certain paperwork and common sense and the solution will not be far away. The total monthly minimum is your absolute lowest monthly payment, but remembers, we want to pay more than the minimum in order to repay the debt quickly.

So, take a look at your budget and see how much extra you can come up with each month in addition to the minimum. Whether it's an extra $20 a month or $100, every little bit helps. As your payments come due, pay the minimum on each card except for the one at the top of your list. Remember, that one has the highest interest rate and it costing you the most money by maintaining a balance. So, whatever additional money you budgeted in the previous step, apply that to that card. Continue this process until the first card is paid off. When that card is paid off, continue with the minimum payments on the other cards, but now take the amount you were paying on the first card in addition to the minimum payment and apply it to the second card on your list. You can repeat this process until your cards gets paid off. With this system, your monthly payment is remaining constant regardless of your balance. So each month your required minimum payment may go down, but you're ignoring that and by doing so you apply more and more money to your principal as time goes on, thus accelerating your debt repayment. In some other exceptional cases one can also seek professional assistance in the form of credit card debt counselor or credit card debt settlement options etc.

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