Credit Card Debt: How to Decrease Your APR, Eliminate Fees and Avoid Bankruptcy

Are you in a major financial bind due to credit cards, medical bills, insurance, rent, utilities, and/or student loans? Before you file for bankruptcy, make sure you've tried every sort of tactic you could to support yourself and/or family. If you have and the money jar is just getting lighter and lighter, you might want to explore the option. However, doing so is an enormous decision, for a lot of negative baggage comes with it. I would hesitate to recommend anyone to do it; I am convinced that if one puts enough effort in, slowly but surely they can pick themselves back up.

Below are some facts you need to consider when facing this financial crisis:

The first thing you should realize and accept is that many companies for credit cards, medical, loans, etc are really obliged to work out some sort of deal with you. The hardest part is admitting you are in serious trouble and even worse is confronting others with this helpless truth. But you must understand that you are nowhere near alone in this. Creditors bombard thousands, millions of people with delinquent account invoices each day. How else would so many of these bureaus be in business? They are used to people in your position and do not judge.

Once you've swallowed your pride, pick up the phone and call your credit card company or whoever is most relevant to your particular bill situation. When you call, be especially polite, thankful and humble for you can't ask for a favor with an angry attitude. So psych yourself up and call the customer service 800 number on the back of your card or statement. Then you need to state your needs up front.