Getting into deep debt trouble is extremely easy, but getting out of debt is ten times more difficult. Trust me, it’s difficult and can sometimes be frustrating. I am speaking from my own experience.

I am a work at home mom who was once loaded with $23,321 credit card debt!

If you are also one of the many people in deep credit card debt trying to pay off your credit card debt, there is hope! You can get out of debt by following the helpful tips that I have been using to pay down my staggering credit card debt from $23,321 to $13,632 in one and a half year.

1. Know Exactly How Much Credit Card You Owe. If you want to eliminate your credit card debt, you must know exactly how much debt you owe. Sit down, spread out all credit card statements and add up the outstanding balance of each card.

2. Cut Down on Credit Cards. Keep one or two where you have still got a bit of good standing and then shred or transfer the rest. You should not however, cancel any of your cards, as this will have an adverse effect on your credit rating.

3. Negotiate a Lower Interest Rate. Call the credit card companies and threaten them that you want to move the balance elsewhere if they do not offer you a lower fixed rate for the lifetime of the balance or just reduce the interest rate. Every credit card company will sacrifice something to get their outstanding back, therefore they will plan a good repayment deal for you.

Once your credit card interest rate is lowered, you pay less finance fees. Thus, a larger portion of your monthly payments will help reduce the outstanding balance.

4. Cut Your Expenses to Save Money. Examine areas in your household expenses where savings can be made. Use the money saved from the expenses to pay down your credit card debt. Even if you only pay an extra $50 a month along with your minimum payment due, you will be $50 less in debt.

5. Pay Extra Each Month on One Credit Card Debt. Start with the smallest debt and make a plan to pay it off. Once that balance is paid off, start on the next balance. Make the same minimum payment due plus the amount you used to pay off the other account. You will then repeat that process for any other debt you may have.

Getting out from tonnes of debt is a long process but it is possible. As long as you take one smart step at a time, you can pay down your credit card debt!

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