Thursday, April 23, 2009

How creative are you at getting rid of credit card debt?

Forget subprime mortgages. Credit card debt remains the most onerous kind of debt most people have. Think about it: most of us are paying off things that we can't even remember buying, plus interest and fees. Now, the Obama administration is finally trying to do something about those fees

Hopefully, they'll get some action but the credit card industry will likely fight anything that would decrease their revenues, especially with so many people are defaulting on debt. In the end, the best thing you can do is manage your credit card debt well.

So, what's the most wacky or creative way you've found to get out of credit card debt? Post your answers in the comments section, and if you're willing to be interviewed for a piece National Public Radio is doing, email their producer.
and interest charges.

1 comment:

Mia6998 said...

First thing I tried, which wasn't wacky, was a debt consolidation loan through a credit union. My last payment is September.

I didn't get a loan large enough to cover it all so the rest I managed through balance transfers. I'm hoping to have those paid off the same time as the debt consolidation loan.

I've also gotten side hustles where I would use that money only to pay credit card debt.