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Step 10 – Re-establish Credit
Keep paying what you owe. When one debt is paid off, use the money that you would have paid them to pay yourself. Put that money into a savings account and don't touch it.
Here are a few additional tips to help you eliminate credit card debt.
- Examine how much you owe and to whom
- Contact creditors that are overdue
- Don't wait for an emergency to contact creditors
- Contact creditors where you have paid accounts off early
- Consider offering security on the account
- Consider a co–signer
- Avoid "Credit Repair" companies – there are no quick fixes!
- Prepare a budget
- If you have money in a savings account, consider using it to pay off what you can
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