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4 Steps to Pay Off Credit Card Debt


If you are dealing with credit card debt, you may feel overwhelmed with no idea how to start your path toward debt relief. To help you achieve financial freedom, our Southern California bankruptcy attorneys have put together steps to help you pay off credit card debt.

#1: Apply the Snowball Method

A popular form of paying off credit card debt that many people have used is the snowball method. The idea is to pay off your credit card with the lowest balance account first. It is called the snowball method because you gradually make payments as the debt starts to reduce more and more. You continue to pay the next lowest credit card balance, and eventually, you will be left paying large amounts until you completely pay off all your credit card debt.

#2: Apply the Snowflake Method

If the snowball method still seems overwhelming, a great way to start is by sending every extra few dollars you have to your credit card account. Regardless of how small your payments are, the power of small amounts can result in large debt deductions over time.

#3: Take On Additional Work

If the stress of paying off credit card debt has become overwhelming, taking on additional work to put specifically toward your debt can be extremely helpful if you have the time. This will help you accelerate your debt payoff as you start to pay less interest on your outstanding balance.

#4: File for Bankruptcy

Another option to get rid of credit card debt is to file for bankruptcy. If you know that you don’t have enough to make ends meet, Chapter 7 bankruptcy can help you wipe out your unsecured debt in months. Chapter 13 bankruptcy can help you reorganize your debt payments to ensure that you are only required to pay the amount you can handle every month. Once you’ve paid off debt for a few years, the rest of your debts may be eliminated with Chapter 13 bankruptcy.

Experienced Southern California Bankruptcy Attorneys

If you aren’t sure what to do with your credit card debt and you don’t know if bankruptcy is right for you, our team at Wadhwani & Shanfeld is here to help. Our Los Angeles bankruptcy lawyers have helped over 20,000 people get back on their feet after a financial crisis. We have the knowledge, experience, and skills needed to help you find the best debt relief option that is right for you.

Contact our Los Angeles bankruptcy lawyers today at (800) 996-9932 to schedule a consultation!

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