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How to make your credit card debt more manageable

You may seem like you have it all: a good paying job, a nice home and several cars in South Carolina. Despite this, you may be drowning in so much credit card debt that you are losing sleep trying to figure out how to deal with it.

Though you may feel overwhelmed by the bills that keep racking up, there are things you can do to make them more manageable. Here is a brief overview of ways to lower your credit card debt. 

Create a plan 

Assess the number of credit cards you have with balances. List those balances in order of lowest to highest. Decide if you want to focus your efforts on paying off the lowest balance cards first or the largest ones first. Regardless of what you decide, you should still make payments on your credit cards each month before the due date. 

Transfer to a lower interest card 

If you have a low-interest card that offers balance transfers, consider using it. However, be mindful about the terms on your balance transfers. For example, if you move your balances to a card that has a zero-interest promotion for 12 months, be sure to try and pay off as much of the balance before that limit ends. 

Pay more than the minimum 

You should work on paying more than the minimum payment on your credit cards each month. Paying the lowest amount allowed keeps you in debt longer. Interest continues to accrue on the balance on your account, so the longer it takes you to pay off an account, the more you will end up paying. 

Set up automatic payments 

You may be struggling to pay your credit card debt. But if you miss payments, the struggle can become more than you can bear once the penalty APR takes effect. Set up automatic payments for the minimum payments so you have some wiggle room if you accidentally forget to send a payment in. Do not forget to send in extra payments so you are paying more than the minimum. 

Do not let your feelings about your credit card bills and collection tactics keep you from taking charge of the situation. Develop a plan and stick with it. If you still are struggling to get your debt under control, consult with an attorney about your options.

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