HELP WITH CREDIT CARD DEBT

Here are some suggestions to help you stay out of the black hole:

Do everything you can to pay off the credit card balance every month. Most credit cards have interest rates between 13.5 percent and 21 percent. Paying that kind of interest, except in extreme cases, is just not smart.

If you can't pay off the entire balance, at least make a payment that is in excess of the minimum due. The minimum payment amount is simply the interest amount due on the principal. If you only pay the minimum you will never pay off the card. Depending on the balance outstanding, add $50 to several hundred dollars to the minimum in order to eat away at the principal balance. While you're doing this, try and stay away from using the card.

If you find yourself knee deep in credit card debt, find some solutions that will help with the burden. Call your credit card company and ask them for a lower interest rate. Believe it or not, this actually works sometimes. They would rather see you pay off the debt than see you in their bad debt write-offs.

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