Reducing Credit Card Debt | Debt Relief Secrets

Tactics for Reducing Credit Card Debt

Now we move on to the good stuff. If all this seems complicated, that’s because it is. Before you get involved in any kind of credit card debt reduction, carefully read through this material three or four times until it all becomes second nature.

Then and only then will you be properly prepared to begin. Credit card debt relief is a tricky subject and one small mistake could cost you a great deal so make like a Boy Scout - be prepared.

Once again you're going to be shocked at how ruthless (and sometimes even criminal) credit card companies can be. When you've read through the tactics below - you will become a genuine credit card expert! Only you can decide which tactics suit your own personal and financial situation.

If you're struggling with credit card debt and are eager to get out, your very first move should be to get a copy of your credit report from each of the three major credit bureaus.

This is particularly important if you've recently received a new credit card with a higher interest rate. This indicates that someone has lost faith in you. You need to find out why this happened and correct the problem before you go forward.

That's a gold-plated signal that your credit card record is not well. Remember - over a quarter of credit files include serious mistakes. For reasons that will be obvious later, if your credit record has an error or two on it, you will have a much harder time getting out of debt. You won't have access to the lower interest rates that are so important to getting out of debt quickly.

The major credit reporting agencies are:

Equifax
www.equifax.com
Report fraud: 1-800-525-6285
Order a credit report: (800) 685-1111
P.O. Box 740256
Atlanta, GA 30374-0241

Experian
www.experian.com
Report fraud: 1-888-397-3742
Order a credit report:
(888) EXPERIAN (397-3742)
P.O. Box 1017
Allen, TX 75013-0949

Trans Union
www.tuc.com
Report fraud: 1-800-680-7289
Order a credit report: (800) 916-8800
Fraud Victim Assistance Department
P.O. Box 6790
Fullerton, CA 92834

Instant Debt Relief TV Infomercials?

What about those TV ads that offer a free report that includes information from all three major credit reporting agencies? Sounds like a good deal - and what the heck - they're free.

Stay away! Who are these guys? What will they do with your most personal financial information including your social security number which can be used to steal your identity? Will they sell it all off to advertisers or worse - to identity thieves? Don't trust them!

Some of the major agencies listed above are offering combined reports which are a good deal as you can probably trust them to keep your information private.

These days your credit rating is being used for far more than just determining your credit worthiness. Many firms used credit scores to determine the desirability of employment applicants. How are you to repay your bills and get back on your feet if you can't get a job?

Also, the government is now incorporating credit scores in their security screening database which determines who can and who can't get on a commercial aircraft. So it's more important than ever that you stay on top of your credit score and quickly respond to any problems.