Reduce Credit Card Debts

You've done a lot of work sorting out your paperwork. You have added up your debts and established what your income is so now you may wonder where it is all leading. So here is how the debt reduction programme works.

Don't forget. You MUST pay the minimum amount required by the bank every month on each debt. If you don't then they may add charges and extra costs that will just add to your total debt and also damage your credit record or score.

You have established that you have a certain sum of money spare each month. This is your DebtCrusher money. It is to be paid in addition to your minimum payment on the debt you have targeted as your priority. Every month you target that same debt with your additional payment until that debt is cleared. Slowly at first but speeding up as it develops your debt reduction plan will begin to crush those debts.

When you have cleared the first debt you then take your DebtCrusher money AND the minimum payment you were making on the first debt and add them together. This is now your new DebtCrusher amount. You pay that every month onto the next targeted debt until that is cleared and then repeat the process.
NOTE... Do NOT start using the first paid off card again.. NOT AT ALL!

Take the Debtcrusher amount and add the minimum from Debt number 2 and that is your new DebtCrusher amount and pay that each month on debt number 3 on your priority list. Every time you clear a debt your DebtCrusher amount gets bigger and bigger. The debts get smaller, faster and faster until one day you will wake with a smile on your face knowing you have crushed all those debts to nothing. You will be able to laugh at the bank.

Be a little patient at first. It may seem to take a little while getting going before having a significant impact but stick with it and those debts will start fading before your eyes.  Next...> Making More Savings

What is the most powerful force in the universe?
Compound Interest!  -  Albert Einstein