When credit card debt piles up, it’s easy to believe that your entire financial situation is heading down the drain. While you’re in a tight spot, it doesn’t mean you should give up.

There are many ways to quickly pay down credit card debt, including the following:

  • Focus on small chunks: Rather than look at your credit card debt as a whole, focus on eliminating small chunks at a time. For example, if you have $20,000 in debt, focus on paying it off $2,000 at a time.
  • Start with the credit card with the highest interest rate: Eliminating this first will save you the most money, as you’re no longer subject to large finance charges for carrying a balance.
  • Opt for a balance transfer credit card: Not only does this allow you to consolidate your credit card debt, but you can also take advantage of a zero percent introductory rate for a period of 12 to 24 months.
  • Negotiate with your credit card company: It never hurts to ask if there is anything they can do to help your situation. For example, you may be able to negotiate a lower rate or the removal of late fees.

If you’ve tried these tips but continue to run into one roadblock after the next, it’s time to consider more advanced options. For example, bankruptcy is one of the best ways to eliminate or reorganize your credit card debt.

With the right approach and knowledge of your legal rights, it won’t be long before you have a strategy in place for making real progress.

“Attorney Advertising Disclaimer: Under Federal Law, we have been designated a Debt Relief Agency and we help people file for bankruptcy relief under the Bankruptcy Code. This information is not intended as legal advice and no attorney-client relationship is created. Results may vary. Results not guaranteed. Dramatization: Not actual clients in pictures and videos. — Thomas C. McBride, attorney in Alexandria, LA.”

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