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8 Ways to Lower Your Credit Card Debt This October

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If you're stuck, negotiate. Explain your situation to creditors—they prefer payment. This may lower your debt settlement.

Directly Contact Credit Card Companies

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A lump-sum settlement is negotiated with creditors. While it may hurt your credit score, it could cut your debt by 30-50%.

Join a Debt Forgiveness Program

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Try bankruptcy if all else fails. Chapter 13 creates a repayment plan; Chapter 7 eliminates most unsecured debt. Long-term credit damage is offset by a fresh start

Last Option: Bankruptcy

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Delaying solutions keeps debt growing with high interest. Prevent unmanageable balance by taking action now.

 Act Fast to Avoid More Interest

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Some credit card companies offer hardship plans that temporarily lower payments or interest. Check if you’re eligible to ease the pressure.

Request Financial Hardship Plans

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Focus on paying off credit cards with the highest interest rates first. Reducing expensive balances saves money over time.

Prioritize High-Interest Debt

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Once you negotiate or enroll in a forgiveness program, stop using your credit card. It can show creditors you're committed to debt repayment.

Negotiate Without Using More Credit

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Debt relief programs may charge. Avoid hidden fees by making sure the savings outweigh the costs before signing up.

Beware Forgiveness Program Fees

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