Tips to free yourself from credit card debt

Has your credit card become a headache for you? You do not have to torment yourself! In this post we will give you some alternatives to get rid of this problem.

Credit card debts have become a problem for users of this benefit. This is due to the lack of financial planning and misinformation about the use of their plastic. Even though the problem has increased, there are still solutions that can free you from your credit card debts.

If it is your case, I recommend that you continue reading so that you end up with that headache.

Take responsibility

Take responsibility

You must be aware of the debt you have generated with your credit card and assume the responsibility that this entails. Finding solutions is the first step you must take to get out of debt and not stay in the credit bureau. You can even reach an agreement to pay your debt in amounts that fit your possibilities.

Prevent the debt from increasing


If you let the time pass, obviously your debt will be increasing and it will cost you more work to pay it. I recommend you go to your bank to request that they freeze your credit card, in this way you will prevent interest from increasing every month.

Contact the financial institution of your credit card

Contact the financial institution of your credit card

Your purpose is to settle your debt, if you communicate with the financial institution of your bank you can explain the situation that caused your lack of payment and you can reach an agreement to pay what you owe.

There are some banks that are willing to negotiate in order to liquidate your credit card debts and you can disappear from the credit bureau. It’s just a matter of trying to negotiate.

Make an advance payment

If you have already spoken with your bank’s financial advisor and do not have the initial amount to settle your debt, try to reach an agreement with a lower amount. Try to show interest in paying your debt, in this way it will be easier for your bank to help you choose monthly payments that fit your possibilities.

Negotiate interest rates

Negotiating the interest rates of your credit card can be a good alternative to reduce the cost of your debt. With a lower interest it will be much easier to finance yourself and not suffer at the moment of paying the debt of your plastic, besides that you can have a budget for other needs.

Go to a credit repairman

If the above options have not worked, this option could be your salvation to settle your credit effectively. Going with a credit repairman may result to get better payment plans. These associations are responsible for operating as intermediaries between the bank and the user.

Do not fall for discounts and discounts

This payment method seems convenient at the beginning but it is not. Even though they give you a settlement letter, in your credit history it will appear that you paid with a discount and this closes doors for you to obtain bigger credits in the future.

Debt forgiveness

Debt forgiveness

The forgiveness of debts is the forgiveness of the debt and is what most debtors want but not all financial institutions have them.

There are different reasons why a creditor can forgive the debt; it can be for a negotiation in which both parties agree, discounts between the creditor and the creditor, by death of the debtor or by some legal procedure.

Ask for your final letter

When liquidating the debts of your credit card it is essential that you request a termination letter in your financial Institution. This document will show that you have covered your debt and will be able to support you in case a clarification is required.

Why is it important to pay off credit card debts?

Freeing yourself from credit card debt is essential so as not to affect your credit history and have the possibility of obtaining a mortgage credit that supports you and your family, having access to other types of services such as: telephone, cable, cellular, among others. .

If you fully liquidate your credit card debts you will have the opportunity to re-enter the credit world through its own financing or with an Institution that grants personal loans and in this way you can be considered again by the financial institutions.

Now that you know some options to settle the debts of your credit card, I will give you some tips that may help you not to suffer from indebtedness in the next loan you request:

Make numbers

Take out accounts before requesting a credit card, you should always prioritize your needs and know if you have the possibility of paying off the monthly payment of your credit card so as not to suffer from a debt that affects your economic stability.

Ask them to be clear with you

When you process your credit card ask your financial advisor to be clear with you. It is important to inform you about: the interest rates, the monthly amounts you must pay and the consequences of not paying on time. In this way you can be more aware when using your credit card.

Have an emergency fund

Many users of credit cards use this benefit to settle unforeseen events such as medical expenses, car damage, among others and although it can be very helpful, it would be better to have a savings fund that covers these expenses without generating interest.


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