Credit Card Debt Elimination: Try The Tried-And-Tested

2007-03-08 10:33:40

( Financial )



Credit card debt elimination is increasingly a hot topic these days as more and more people are getting mired in spiraling credit card debts and bankruptcies.

Companies, purporting to be specialist in credit card debt elimination without you paying a single cent for your credit card bills, sound too good to be true. And, of course, they are not true!

When you have piled up considerable credit card debts, the only way to speed up the credit card debt elimination process is to bite the bullet by paying up, eliminating one credit card after the other and refraining from using your credit cards at the moment.

Calling up some bogus companies for assistance won’t help in the credit card debt elimination process. These companies require you to pay them a substantial amount of money, which you could use, instead, to pay off your credit card bills.

There are tried-and-tested credit crunch methods that you can use and they are available for free on the internet. They have helped people, who have unmanageable credit card debts, recover and rebuild their lives.

If you have just recovered from a harrowing experience with credit cards or would just want to avoid the pitfalls of spiraling credit card debts, consider a debit card account instead.

Debit cards give you the convenience of paying your purchases with the use of the plastic card; however, the payment is automatically deducted from your bank account. And they are utterly convenient because they can be used wherever credit cards are accepted.

Many prefer opening a debit card account to using credit cards or checks. One, you don’t need to always carry with you your checkbook and present identification when purchasing. And two, you don’t pile up credit card debts. The problem, however, arises, when your debit card is stolen or used fraudulently – your money can be literally drained out of your checking account!

Banks, always innovative, have come out with a variant, the prepaid debit cards to address such concern. Prepaid debit cards can be pre-loaded with just enough funds and, thus, are safer. You don’t get to lose all the money in your account when your card gets stolen. What’s more? Prepaid visa debt cards allow you to do over-the-counter cash advances when you need cash.

For the spendthrift, prepaid debit cards have been designed to help you control spending. By loading your prepaid debit cards with just the right amount of money, you automatically set a limit to your spending.

Companies can also benefit from prepaid debit cards. Prepaid debit cards, which are re-loadable, would enable them to easily distribute funds without the time-consuming paperwork and the need to issue checks. They are also especially useful and convenient for companies that need to regularly disburse funds to their employees for business representation, per diems, petty cash, etc.

The bottom line is – you can eliminate your credit card debts. Consider several options, but not those of the bogus companies.


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