Best way to get rid of credit card?

When I was in a similar position I took advantage of the 0% Balance Transfer for 6 months and found it much easier to pay off the debt when you can see it actually dropping. After the 6 months finished I transferred it to another and then again another. This was the only way I was able to pay off my 12k debt. There isn’t as many these days that offer it but off the top of my head I know ANZ and Citibank offer one. Not bad considering all you have to pay is usually around 50-60 annual charge upfront for each card instead of 100+ a month on interest.

This is the advice i will def take up!
95% of the time the crdit card company would LOVE to hear from your; and you can always pull a deal-especially if your in the red.
The most common;

1. Pay cc in full at 60-70% of the balance
2. Go on a reduce rate for 6 month till your ok again- ie 8%

Regards
Michael

Well this all seems like good advice from Terry and Michael. I think Justin you are referring to the Likes of “My Budget” and there are others out there who deal with banks for you. I looked into this as a way of having someone else do my budgeting – and book work for me. There are others – Debt Assist. I could not justify the cost – something like $1000 a month to do this for me. While Richard says “Hate to say Justin you wont find anyone who pays the card off for you and you then pay you a fee”- this is what these 2 do. For me, I read Tony Melvin’s “From Red to Black” this can also be helpful. Worth the investment. Tony suggests the strategies that Terry and Richard do. I like the $0 balance transfer. It does help and it it works- why not. And Richards further comment: “but you might find someone who charges a lower interest rate on balance transfers and that could help you” if it works- do it.

Richard- dear dear! I don’t see any where where I said “they pay off your debts for you”. My response was that these were the types of organisations to which Justin was referring with which I had had some experience with., How is that a misleading post?

Unsecured personal loan….most likely not at that rate.

The lowest i seen for a unsecured PL rate is 13.5% was with CBA and was a promotion as well back in Feb 2011

Regards
Michael

Mate,,,
Stop taking wrong advices from people,,, transfer it to NAB if possible at  only 1% bal transer rate,,, since everytime u go for debt agreement,,, and u want money from same bank,, they won't lend u,, N I won't write this on blogs but I work for an International Bank,, and whenever u do a debt agreement or lower settlement on a/c,,,, other banks know abt it,, they have a channel they follow,,, bottom line when u go and ask for credit again, non of the lenders will lend you,,,, unless you agree to pay premium interest,,, so u r better off by paying the bloody thing off mate,,,,,,,,,,,,,,,,,,,,