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Getting Realistic About Paying Down Credit Card Debt

From the desk of Manhattan Beach McCarthy Law attorney Rosanna Savone:

You can get rid of your credit card debt through the following methods: debt snowball, debt annihilator and debt dash method. They are called by different names, but they all mean that you only have to make minimum payments on your larger credit card debts while making as large a payment as possible to your lowest credit card debt with no regard to interest rate. Once the smaller credit card has been snowballed, annihilated or dashed (whichever method you prefer), you can then add that payment to the next lowest credit. Repeat the same process until you reach the lowest. Read more about this in this informative article:

http://www.washingtonpost.com/business/economy/in-2012-finally-pay-off-credit-cards-with-the-debt-dash-method/2012/01/03/gIQA1bQ8YP_story.html

There’s nothing better than paying more than your required minimum payments. However, if you can’t, you might consider selling everything you own to pay for the balance. I also advise that you start looking for a second job. You might have got trapped in debt because your first job is not enough to pay for your needs.

There’s nothing wrong in looking for legal means to earn more. Although this might mean less time for your children, if you have any, it’s a sacrifice you have to make for the sake of your family and your future. Life is easier when you are not burdened by credits with high interest rates.

It is hard when all that you earn go to your debts. You work your fingers to the bone just to see your money put into other people’s hands. Stop relying on one-size-fits-all advice on how to pay the money you owe. Be realistic and face your problems. Get a trustworthy debt settlement attorney to assess your financial situation. That’s the best and practical thing to do.

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Kevin Fallon McCarthy is the McCarthy Law PLC’s managing attorney and an experienced Phoenix debt attorney. Mr. McCarthy has also worked as general counsel for a large corporation. He has corporate counsel experience in human resource matters, general corporate governance, and union class action litigation.