How to Consolidate Credit Card Debt

Instructions

Step 1:

Stop using your credit cards. The more you use them, the more debt you will accumulate. Cut them up if you need to.

Step 2:

Calculate how much debt you owe on your credit cards. Work out how much you need to repay each month. Find out which cards have the highest balances outstanding.

Step 3:

Call your credit card companies and ask them to lower your APR. Be persistent. Paying a lower rate of interest will help you to clear your debt sooner.

Step 4:

See if your credit card companies offer any deals to help with debt consolidation. A low, long term interest rate can cut your monthly payments and improve your finances. And a zero percent balance transfer will let you start repaying your debt, instead of interest.

Step 5:

Transfer all of your credit card debts onto your lowest rate credit cards, if possible. This is the quickest method of debt consolidation.

Step 6:

Pay more the than the minimum payment each month. If you pay the same amount as you did before the consolidation, you will reduce the debt more quickly.

Step 7:

Stick to your plan and soon you will be out of debt, with your finances under control.

Source:Ehow.com