Credit card debt is unfortunately something that many consumers simply are forced to deal with. However, how you deal with your debt decides how your credit score recovers from it as well as how well you sleep at night! There are several options that you have to deal with your credit card debt. However, most options out there cheat the lender to provide you savings causing damage to your credit score. The good news is, there are a couple ways to deal with credit card debt that don't require third party intervention and don't involve cheating banks. Here are the steps to dealing with your debts the honest way.

Step #1: Get Prepared: The first step to anything in life including dealing with credit card debts is getting prepared. To prepare for dealing with your debts, you must know what you owe and how much money you have coming in. To do so, simply make a list of every expense in your house including rent/mortgage, utilities, food, day care, etc... Also, you should create a list of your income including your full time or part time job, rental income, side income, etc...

Step #2: Call Your Lenders: The next step is to make a call to your lenders. I know the overall consensus is that lenders are almighty corporations that don't care much about the small consumers. The truth is, lenders do care about you and every one of their customers, if they didn't they would not have become large enough to offer credit cards in the first place. With that said, the next step is to simply call the 800 customer service phone numbers on the back of your cards and get to a live representative.

Step #3: Ask For Help: Once you have a live representative on the other end of the line, simply say, €I am calling today because I am dealing with a financial hardship. I know I owe my balance but I can't afford to pay any longer based on the terms of my card. Can you please help me to resolve this matter?€. Once you say this, you will be directed to the financial hardship department in most cases. A department designed to help those in need!

Step #4: Enjoy Relief: After speaking with the financial hardship department, you should have reduced interest rates and monthly minimum payments. Now, it's time to sit back and enjoy the relief. However, in some cases, lenders are not willing to help. In this case, I would suggest looking into balance transfer credit card offers as a way to reduce your interest rates and reduce your debts.

I hope that this article has helped anyone who is dealing with overwhelming credit card debt. If you still have questions about this process after reading this article, please feel free to visit the source of the information in this article listed below!