At one point, Shonnita Leslie was struggling to manage around $20,000 in credit card debt. Here's the strategy she used to pay it down.
Shonnita Leslie, 40, used a credit counseling agency to help her pay off around $20,000 in credit card debt ., Shonnita Leslie cut up her cards to avoid sinking that deep into debt again. But she didn't tackle her debt alone.
If you're having trouble getting a handle on your credit card debt and have a less than stellar credit score, you may want to consider using a credit counseling agency as well, said Ted Rossman, Bankrate's senior industry analyst. If you're feeling overwhelmed by credit card debt, you have other options as well. Here are three to consider.allows you to move some or all of your outstanding debts onto a single card with a 0% interest rate for a given period of time, typically up to 21 months. Interest charges aren't added to your balance during that time, so the grace period can help you pay down your credit card debt faster since your payments go directly toward your principal balance.
This method helps you gain a series of wins in the beginning, which can be a powerful motivator to continue chipping away at your debt.prioritizes paying down the credit card with the highest interest rate first. While you'll continue to pay the minimum across all of your cards, any money you have left is put toward reducing the balance on your card with the costliest APR.
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