Question..how do you get out of credit card debt?

You probably have to work an extra job.

Good question.I wish I had the answer.
I think about cutting the cards and just keep paying until they are paid.
I haven't done it yet ...lol

Thank you Elaine and Peter. I'm working two jobs and going to school. It's so hard to live with inflation.

I think the most extreme to do is file for bankruptcy.

oops - I mean "thing to do"

I think so, but don't want to ruin the credit. Thanks for your help Peter.

Make a budget of your real expenses, ie. rent, bus pass, utilities, food. Set that money aside.
Take everything that is left and use it to pay down your debt.
If you have more than one credit card, and can get a new loan to pay them all off that would be good. If not, put the minimum on the ones with the highest balances. Put everything left on the smallest balance. That way, soon you will have one less bill. Work your way up. It's a sort of way to consolidate without taking out a new loan which may not be possible, depending on your credit score.
Cut up your credit cards or freeze them in a gallon milk jug. No impulse purchases or luxury items. And never charge groceries...unless you can pay your bill completely off every month.

Good luck. Once you have no debt, you can borrow to build a better credit score.

sit down, make a strict budget, and follow it. No buying non necessities (ie: food, gas) I think it just takes time. Cut up all of them except one and put it in your dresser drawer so you don't use it all the time.

I would go see a free credit counselor, they can usually get your interest rates reduced and set up a payment plan for you. A friend of mine did this and it was a huge help and she ended up saving money in the long run.

Go to a debt counselor. They can sometimes negotiate a lower interest rate on the debt you already have, and they can help you set up a budget to address your needs and pay down your debt. These services are usually free. Call your local social services agency or look up debt counseling in your yellow pages.

Thank you so much for your help Nancy, Katherine, Sarah, and Ellie. I appreciate your time and advise.

be very careful about the credit counselor you go to......remember they are out to make money too.......try united way in your area......they charge you on a sliding scale......

Thank you Solskin

First of all cut them all up except for one of them to use in an emergency. Then freeze that card so that you are not tempted to use it. Try and get a little part time job and pay more than the minimum payment every month. Call the credit card company and see if they will lower your rate or if you can switch to an interest free card. Tell them that you are in trouble and can they work with you, most will do this. Do you own a home? Maybe you can get a home equity to pay off your cards. Only take it out for the amount you owe on your credit cards so that you don't get into further trouble. If you do that at least the interest is tax deductible on your income taxes, and is usually not revolving credit where you are paying interest on interest. Good luck! My daughter swears by the things that Susie Orman tells you to do. Check on line for ideas from her or buy her book, it may help.

There are few practical things you can do:

1. Always pay more than the minimum amount - even if it's just a few dollars. Those few dollars will go directly towards your principal amount and it will dramatically cut down on the amount of interest you will pay.

2. Look at the percentages that you are paying on your cards - work toward paying off the card with the highest interest rate first - regardless of the balance. Once you pay off that card, take the money you would have paid toward that card each month and start paying it toward the next card and so forth for each of the cards you have. You will find that each card will be paid off faster than the first.

3. If the interest rates on your cards are too high, say more than 9 or 10%, I would shop around for lower interest rate cards or call my credit card company and tell them that if they do not lower your rate, you are going to switch credit card companies - I've done it, it works - if doesn't work - switch!

4. Last but not least, try not to use the credit cards and add to the balance.

Hope some of that helps. I see that Carol B. has mentioned Suze Orman - she is the bomb when it comes to financial advise.

Amy, if you send me an email with your regular email address, I can send you one of Suze Ormans book's in .pdf format - it's her "Women & Money" book. It's the entire book in electronic format. I got it for free from the Oprah website - I don't know if it's still available there, but I have it and would be happy to send you a copy if you would like it.

The above advice is good. I was going to write more, but Regina pretty much said what I was going to say.

I pay more than the balance or the whole balance off when something is charged to it.

good luck, it looks like you have gotten some good answers

Thanks so much for your help.

One other thing that I would suggest is that if you do get a loan to pay off the cards and consolidate everything into one monthly payment, call each of the credit cards and try to bargain down the total price of the bill -- particularly if you've already made a whole slew of payments that have gone toward interest. Many will be willing to bargain with you at a much-reduced rate if you can pay them in one lump sum.

I know you got a lot of good advice here, but I just thought I'd add that since it saved me thousands of dollars once upon a time.

call the credit card company and explain that you can only pay a set amount each month. They have to take it. I worked for a credit card company. As long as you are making payments you're showing good faith in trying to clear up the debt.

good question. I am trying to dig my way out also.

I did it - let me tell you --- it's hard, takes time - but well worth it! First, get rid of ALL your credit cards - you CAN live without them, I do just fine with NONE in our house. Second, make a list of ALL your debt - ALL of it - Name, phone number, address, balance, whether it's up to date late or in collections. Then sit down and make a plan!!! Pick one to pay off first, call them set up a payment plan. Make sure you CANCEL all credit cards once they are paid off. Don't run up more debt while paying off your first debt! Stick to it. It's taken me YEARS - but I'm almost there! Finally! And, it is the BEST feeling to be DEBT FREE!!!!! Stick to it!!! You can do it!

I know I'm late in responding but I am just now seeing this article...
I am also currently digging myself out of credit card debt. Since I don't have time for a second job, as some have suggested above, I've cut back on a lot of things including weekly manicures and pedicures (now I get a manicure every 2 weeks and pedicure once a month), certain foods I used to buy at the supermarket that were more expensive (I try to buy store brands of certain items now), and I've cut back on going out to eat. The last one has saved me the most money. The money I don't spend every month and these frivolous things, is money that I pay to my credit cards above and beyond the minimum.
This is how I pay my credit card bills:
Minimum + $100 + Money I saved by not going out to eat
If I order something online, or anything new I charge to the card, I pay off immediately.
It's just a matter of budgeting appropriately.

Dave Ramsey! Get his books from the library. Check out his website. Watch his show on Fox Business. If you can afford it attend the Dave Ramsey Financial Peace University in your area! Dave Ramsey is GREAT!!!! You WILL get out of debt if you follow through with his ideas! I promise. We did and we are 100% debt free!!!

I didn't go to FPU, due to it costing $100, but I got all the info I needed for free by the library, his show and the internet.