You can’t build a house without a set of blueprints; you can’t go on a long trip without a map, and you can’t eliminate credit card debt without a plan. Whether you intent to repay your debts on your own, or are looking at your debt relief options, you still need a debt management plan.
Your plan starts with a personal debt assessment:
- How quickly do you want to eliminate your credit card debt? Try our debt repayment calculator.
- How much can you afford to pay each month? To see if your debt payments are too high today try our debt-to-income ratio calculator.
- Who do you owe, how much do you owe and what you are paying in interest?
Your next step is to develop a debt repayment plan.
- If you are paying your debts on your own, start with your highest interest debt first. Pay as much as you can each month and follow our 10 steps to pay off credit card debt.
- If you can’t pay your debts on your own you need to choose a more formal debt relief program. Try our free debt options calculator to compare the cost of different debt relief options.
If you need help eliminating your credit card debt, contact an advisor today.