September 5, 2017

Credit card debt solutions are incredibly simple.

Many people fall into the credit card trap because they are easy to obtain and the limits keep increasing as long as regular payments are made.

Getting out of the trap is simple but takes resolve.

Your first step is to stop using the card(s) – and to stop thinking about it as “necessary for emergencies”.

If you can’t pay the card off in full within three months you have far too much credit card debt.

Revisit your family budget, stop eating out, including coffee in the morning, eliminate all entertainment expenses until your debt is paid off – including alcohol and even cable TV.

If that strategy doesn’t work to free up money to aggressively pay down your debts you may need professional intervention.

Consumer Proposals can be good alternatives to bankruptcy but will usually damage your credit report more than a bankruptcy and take longer to pay out.  Bankruptcy can be a good tool for getting out of debt that is far too high for you to be able to pay down.

Consumer Proposals and Bankruptcies are Federal Government Programmes that were designed to help honest people get out of debt and get a fresh start.