You don't. All you can do is to limit your spending, earn more money and pay off your debt.

Wickerman, I'am basically in the same position as you but I am wondering if those credit card relief or credit card consolidation plans are a scam or are they for real and can help, My wife and I always pay on time, Our credit is good up in the upper 700's that last we checked. I dont think Moneytrev's answer was the one you wanted to hear nor was it the one I want to hear. Can anyone help ?

No, do not use a consolidation company.

Get on a tight budget.
List your cards smallest to largest or highest interest to lowest.
Apply all extra funds after minimums, to one card, pay it off and move to the next.

There is no magic trick that makes it easy. You spend less and payoff debt. Get a part-time job if necessary. Stop using the cards till paid off and only use them if you can pay in full each month.

Get out of debt takes time and discipline but you can do it. Paying the minimum will take for ever to get rid of your debts. And as a result of that and even worse, most of your monthly paying is used for paying interest. CC companies like that but that is the worst scenario for you.

You have to find a way to pay back more than the minimum, to start with one CC. And after you payed off that loan, you have more money available to pay off the next one. This snowball effect will definitively be in your advantage.


When you want to spend money, ask yourself: Do I really need this or do I want this? You need less than you might think. That's my experience.


There are many ways to spend less. But, we don't like to cut our expenses. So, you need to motivate yourself by realising what it will bring you when you are debt free. No more debt worries, spending money for yourself in staed of paying CC companies etc. Write it down and imagine how it will be. You will need that because discipline based on will power alone, won't last.

My experience is that writing my goals and reading them daily makes a huge difference. You can do this if you really want to.

Wickerman, another part of the equation is to talk to your credit card companies and try to get your interest rates reduced. This is successful pretty frequently. I'd be surprised if you don't get some of those 5 rates reduced. Listen to Tom55 and Maat55 about the snowballing of payments. This strategy is taught by Dave Ramsey and John Commutta to millions of people, and it works. As others point out, it is hard and it takes discipline and commitment. It is a marathon, and not a sprint.

You must commit yourself to a monthly payment higher than your minimums. Strive for at least 10% of your monthly take-home committed to debt reduction. You might look at www-DueMinder-com for free tools to help track your commitment and credit card payments. It lets you play what-if scenarios, so you can see how long it will take to eliminate debt at $500/month, $600/month, $700/month. It sends payment reminders, too. Imindebt, you might benefit from this, too, to see how these strategies work.

Good luck.