If you are looking to legally eliminate credit card debt, you’ve come to the right place! Here are your options…

1. Cut down your spending on unnecessary activities such as entertainment and focus on getting rid of your credit card debt. In other words, make a budget, and stick to it! It may be easy for us to spend money, but its hard not to. Try not to pay the minimum balance. If you do, it can take many years for you to pay off your debt if your interest rates are high enough.

2. Ask your credit card companies if your interest rates can be lowered. If you’ve made your monthly payments and have a decent credit score, there’s a good chance that some of the credit card companies will cut you a break and lower your interest rate. Make sure to be polite with their customer service representatives when you negotiate with them. Ask for the supervisor if you aren't getting any luck with the customer service reps.

3. Check out your local credit card counseling agencies by searching for them at Yellowpages.com. Before you start doing business with one of them, make sure that the agency you are dealing with is non-profit, certified with either the Association of Independent Consumer Credit Counseling Agencies or the National Foundation for Credit Counselors, and is in good standing with the Better Business Bureau. Debt Repayment Programs (DRM) or Debt Management Plans (DMP), usually last about 5 years. When dealing with a counseling agency use your own intuition. If they rush you into a DRM or a DMP without analyzing your financial situation, head somewhere else. Also, be aware of high-upfront fees. Fact is, credit card debt services are loaded with scam-like operations, which seize on our desperate want to get out of credit debt.

4. Get a home equity loan, which is a second home loan you’d get to cover your monthly payments. Although you may get a decent interest rate with an equity loan, keep in mind that if you can’t make your monthly payments, you home is in danger of being foreclosed.

5. See if you can’t get a credit card with a low interest rate so that you can use it to pay off the rest of your cards. Although this may be hard to do if you don’t have a good credit score, it’s worth checking out.

6. Of course, bankruptcy is an option, which should be used if your financial situation is really bad. Chapter 13 Bankruptcy is a mild version and Chapter 7 Bankruptcy is the worst type of bankruptcy there is in that all of your assets are seized by the government. With Chapter 13, although you’ll problems getting any types of loans, you’ll at least get to keep your property.

My other credit card debt hubs:

Costs of Bankruptcy

Houston Credit Card Debt: Getting Out of Debt from Your Houston Credit Cards

How to Deal with Los Angeles Credit Card Debt

Who Pays Credit Card Debt After Death?

Affordable bankruptcy: Chapter 13

Low Cost Bankruptcy Service: How to Lower the Cost of Bankruptcy

And, of course, I have this, hub, which tells you how to legally eliminate credit card debt!