• Lower your monthly payments
  • Reduce stress and live your life
  • Avoid personal bankruptcy court

Are you struggling with paying down credit card debt? Looking for debt cures?

Why does it seem like it is so hard to get out of credit card debt? Could it be that any late fee or over the limit fee negates any progress you might have made this month? You could be a on-time payer for years and just miss one payment by a few days and have your interest rate double or worse.

The credit card companies have no problem kicking you when you’re down. If you miss one or two payments they will cut your credit card limit to within a few dollars of your current balance so if you continue to miss payments they will sock you with $78 in fees each month you miss. You get charged a $39 late fee and a $39 over the limit fee. Not to mention your interest rate will probably hover around 29% which makes it almost impossible to pay down credit card debt.

For situations like this is why Kevin Trudeau comes out what a book promising Debt Cures that can get the credit card companies off your back, waive late fees and other fees, and reduce your interest rates, and help you eliminate your credit card debt. Not to mention the possibility of getting free money from the government. He now has a new book called Free Money that goes into more depth on getting your free money.

So how do you pay down and eliminate your credit card debt? Well for one thing if you are struggling to come up with the minimum payment right now, you are not going to save your way out of debt. You’ll be saving money and earning 1% interest at most while paying up to 29% in interest on your debt. There is just no way you can get ahead this way.

You may already be working a second job and it still may not be enough. What this economy it is hard to make extra money but that does not mean it is impossible. I’m still making a couple hundred dollars extra per month with the Hubpages I created a few months ago.

Bankruptcy and debt settlement are also options. I’ve discussed the pros and cons of each in a previous post. One thing I forgot to mention to was that if you are on a fixed income, bankruptcy may be a better option than debt settlement. You can find out by getting a free bankruptcy evaluation. But other than that, debt settlement is a better way to get debt relief without all the consequences of filing bankruptcy.

A question you may be asking is why don’t the credit card companies lower my interest rate when I call them? The credit card companies are not going to work with you if you are a good customer. They have no reason to lower your interest rate if you are paying on time every month because you are making them money. It is only when you fall behind on your payments that they risk losing money on your account. This is when they will start working with you and offering hardship arrangements and lowering your interest rates.

To sum up, those are your options for paying down credit card debt. Make more money through a second job or freelance work and use bankruptcy or debt settlement to reduce your balances. Those are the debt cures that work. You can learn a little bit more about them by getting Kevin Trudeau’s book or just reading several posts on this site. I’ve reviewed the entire book chapter by chapter for you.

Thanks for reading.

Have a great day,

Adam Tijerina

Debt Cures Reviews

How to pay down your debts

Hello-

Reading the reviews on Debt Cures over on Amazon, KT’s book is not getting very good reviews. Many of the people are going over his criminal record instead of the merits of the book itself. I don’t blame people for doing that especially if they were involved in some of his scams. But it kind of skews the reviews of the book and if it can help people get out of debt.

Today, I wanted to share some info about paying down your debts. I have some tips on paying down your credit cards and then I have some tips for paying down your mortgage.

How to pay down your credit cards

You cannot expect your credit card debt to vanish overnight in most cases. Paying down your debts is a process that is going to take some time. As long as you maintain your spending discipline and stay committed to getting out of debt, you’re more than halfway there.

You want to take the initial steps to getting the lowest interest rates possible on your credit cards. The only way you are going to get a better interest rate is to ask for it. There is nothing wrong with asking. Be persistent in your request too. Don’t just ask once and give up.

Debt Cures has some examples of how to reduce your interest rates on your cards.

Another way is to see if you can negotiate some of your debts down in the first place. Say you have $20,000 in debt but can settle your debt down to $15,000 or even $10,000 how much faster could you get out of debt? Check out this post for more about debt negotiation.

By now, you should know that you need to pay more than the minimum on your monthly payments. If you come into any extra money in the month, use that to pay down your debt. Make an extra payment to your credit card. With online payments available with most credit cards, this should be easy. You don’t have to write a check and mail it. You just log into your account and make that extra payment for $20 or $100.

I received my Discover card statement the other day and it had 4 payments on it. One was for the regular payment amount and there were 3 other payments – one for $30, one for $27 and one for $19.61. I kid you not.

And those little extra payments can add up.

If you think you don’t have any extra money to pay to your credit cards, you need to get creative. You can sell some of your unwanted or unused clothes, electronics, books, etc on eBay.

Just the other day my girlfriend sold one pair of her jeans for $60 on eBay. And they were used.

If you have any type of writing, programming, editing or designing talents, you can also do some freelance work to supplement your income.

Another idea to consider is to stop contributing to your investment accounts and use that money to pay down your debt. If you pay down your credit card that charges 15% interest, that’s just like investing and earning 15%. With the stock market the way it is now, that’s a nice return.

Those are some tips to help you pay down your debt, now let’s talk about your mortgage…

How to pay down your mortgage

There are only a few ways to pay down your mortgage faster. You can make biweekly payments which will basically mean you make the equivalent of one extra payment a year. Using this method, you could potentially pay off a 30 year mortgage in about 24 years. Here’s a biweekly payment calculator if you want to check it out.

You don’t want to pay a setup fee or any other type of fee to get this setup. Or I should say, you SHOULDN’T pay any type of fee to your mortgage company to do this. See if you can setup automatic withdrawal out of your account every two weeks to pay your mortgage.

Another way is to just add more money to payment to pay down the principal on your mortgage. If your mortgage payment is $1000, add an extra $50 or $100 to your payment and put a note that it is to pay down the principal.

The last way is to make sure you get the best interest rate in the first place with the lowest fees. Shop around, comparison shop and negotiate hard to get the best deals on your mortgage. In theory, you’re going to be there for 30 years so try and get the best deal you can. If it makes sense to pay extra to lower the interest rate then do so. I did this when I bought a home and it made sense to pay and extra $500 or $1000 to lower the points on my rate.

Another thing to keep in mind is that once you’ve paid off your credit cards and have some extra cash flow, it will be much easier to apply more to your mortgage payments so you can get it paid off quicker.

Let me know if this post has helped you, I appreciate any and all comments, good or bad.

Thanks for reading and have a great day!

-Adam

Debt Cures Reviews