If you find yourself in an unfortunate position where you have run up a massive amount of credit card debt and can see no end in site then you are not alone.
More people than ever are in a similar predicament and most don't have a clue what to do about it.
The biggest problem with credit card debt is the fact that such a high rate of interest is charged on it.
What this means is that if you have a large amount of debt and are unable to pay it off immediately the money owed will rise substantially in a short space of time.
Individuals who have several cards, all maxed out often find that they struggle even to pay the interest charges each month which leads to a situation where you are never going to pay off the lump sum that you owe but will be paying for the interest until you die.
There are several ways to solve this problem.
The best way obviously would be to increase your income so you could settle what you owe before your next bill comes.
Unfortunately this option isn't available to the majority so we need to find something else.
Zero percent interest credit cards on the other hand are available to all and are one way that can really help you get to grips with the problem.
How they work is that some credit card companies will give you an introductory period where you transfer all you credit card debt over to them and for 6 or 12 months you don't to pay any interest on your debt.
This is a great thing because it means you can concentrate on repaying your lump sum that you owe so that when the introductory period is over hopefully you will have little or no debt left.
More people than ever are in a similar predicament and most don't have a clue what to do about it.
The biggest problem with credit card debt is the fact that such a high rate of interest is charged on it.
What this means is that if you have a large amount of debt and are unable to pay it off immediately the money owed will rise substantially in a short space of time.
Individuals who have several cards, all maxed out often find that they struggle even to pay the interest charges each month which leads to a situation where you are never going to pay off the lump sum that you owe but will be paying for the interest until you die.
There are several ways to solve this problem.
The best way obviously would be to increase your income so you could settle what you owe before your next bill comes.
Unfortunately this option isn't available to the majority so we need to find something else.
Zero percent interest credit cards on the other hand are available to all and are one way that can really help you get to grips with the problem.
How they work is that some credit card companies will give you an introductory period where you transfer all you credit card debt over to them and for 6 or 12 months you don't to pay any interest on your debt.
This is a great thing because it means you can concentrate on repaying your lump sum that you owe so that when the introductory period is over hopefully you will have little or no debt left.