Credit Cards

I have two small credit cards with a balance around $100. That is it! I just put the $100 on the card to complete paying the mortgage for the month. The total borrowing amount on those two cards is only $1,000.

I used to have lots of credit cards. I probably had $40,000 of credit outstanding at one time. Now, I have one major credit drain - my house.

What we need to do is get different credit cards. Start you own plan. I read where the best thing to do is pay off your highest interest cards first. Perhaps? But, if you are really hurting perhaps the best thing is to pay off your lowest balance card first. Once it is paid off, freeze it in the freezer in your kitchen. Keep it but make it impossible to use.

If you're still OK, then start paying off the highest interest card. If possible, also pay off another low-balance card and freeze it too. But, if you are simply over your head, call your local CCCS and have them setup a plan with all your credit card companies. Let them negotiate with all the companies. Except, they won't need to negotiate with any of the companies whose cards are in your freezer - they are paid in full already! They are the key to rebuilding your credit.

It is amazing how little you need to get by. For two dollars a day per person you can breakfast, lunch and dinner. Or, you can continue to spend $10 a day per person. The difference for a family of four is close to $1,000 a month! You can do that a few months and those dollars will make a major difference in paying off your credit cards.

The whole goal is to get rid of the balances on your credit cards. The whole goal of the bailout in Congress is to make it easier for credit companies to keep you hooked on their "capital drug". Just tell them NO! Vote Out All Old Members of Congress! Vote Them Out NOW!