Good ways to get out of credit card debt include not using cards and quickly paying down cards with smaller balances. Stay out of credit card debt by throwing away enticing low interest-rate offers received in the mail with advice from acertified public accountant and credit counselor in this free video on debt management.

cut the cost debt

Lenders often tempt you into borrowing more than you actually need. Larger loans mean bigger profits for banks, so it makes sense to borrow as little as you can

• Only borrow the exacty amount

Reduce the interest rate

Do pay attention to the interest rate and fees being charged. However, don’t be duped by the headline APR, as this can be misleading.

• Ask current finance company to reduce interest rates
• Look for a cheaper rate

Transfer your debt

One way to cut the interest rate you’re paying is to transfer existing debts to a new home.

Make more frequent repayments

By paying more frequently, you chip away at your debt faster and, therefore, bring down its cost.

• Check with mortgage companies

Repay over a shorter period

Time is always a function of credit, because the shorter the time period, the lower the interest bill.

• Reduce mortgage length
• Use overpayment opportunity