212-300-5196

Got Business Debt?

nyc criminal lawyers over 30 years of experienceLearn More About Delancey Street

Visit their website today. They can help resolve business debt.

Get Free Consultation

How Can You Get Out of Credit Card Debt Without Paying?

By Spodek Law Group | February 20, 2024

It’s understandable to feel stressed about credit card debt, but there are ethical options to resolve it without avoiding payments. Here are some ideas:

Budget and Cut Spending

Creating a budget to reduce expenses can free up money to pay down debt. Things like eating out less, limiting entertainment costs, or downsizing housing can make a difference. Apps like Mint or spreadsheets help track spending.

Increase Income

Consider taking on a side gig like rideshare driving, tutoring, freelancing, etc. The extra money generated can go straight to paying off credit card balances.

Negotiate with Creditors

Call credit card companies directly to ask for better interest rates or settlement offers. They may be able to lower rates, waive fees, allow smaller payments over time. Being polite and persistent pays off.

Non-Profit Credit Counseling

Reputable sources like the National Foundation for Credit Counseling provide services to help negotiate with creditors. They offer debt management plans to consolidate balances into one payment. Fees are often on a sliding scale based on income.

Balance Transfers

Transferring high-interest balances to an intro 0% APR card can pause interest accumulation. This works best for those able to pay off balances within the 0% timeframe, usually 12-18 months. Balance transfer fees apply.

Debt Consolidation Loans

Banks, credit unions and online lenders offer debt consolidation loans allowing consumers to roll balances into a lower-interest loan with fixed monthly payments. This can save money long-term but closing cards can temporarily hurt credit scores.

Bankruptcy

Declaring consumer bankruptcy stops collection calls and wipes eligible debt clean. However, it severely damages credit for years. Consulting a bankruptcy attorney helps weigh if it’s the right step before taking the plunge.

Free Consultation

Testimonials

I was searching for a law firm with some power to help me deal with a warrant in New York . After 6 days I decided to go with Spodek Law Group. It helped that This law firm is well respected by not only the top law firms in New York , but the DA , Judge as well. I...

~Fonder Brandon

5 Stars
It was my good fortune to retain Spodek Law Group for representation for my legal needs. From the beginning, communication was prompt and thorough. Todd, Kenneth and Alex were the first people I worked with and they all made me feel comfortable and confident that the team was going to work hard for me. Everything was explained and any concerns...

~A G

5 Stars
After meeting with several law firms, I chose the Spodek Law Group not only for their professionalism and experience, but for the personal attention given to me right from the initial consultation. It is important to recognize how crucial having the right legal team is when faced with potentially life altering events that impact families and the lives of loved...

~George Cherubini

Spodek Law Group

White Glove Service

We Provide Superior Service, Excellent Results, At A Level Superior To Other Criminal Defense Law Firms. Regardless Of Where Your Case Is, Nationwide, We Can Help You.
View More

Request Free Consultation

Please fill out the form below to receive a free consultation, we will respond to
your inquiry within 24-hours guaranteed.

NYC

85 Broad St 30th Floor, New York, NY 10004

212-300-5196

get directions

Los Angeles

611 S Catalina St Suite 222, Los Angeles, CA 90005

212-300-5196

get directions

QUEENS

35-37 36th St, 2nd Floor Astoria, NY 11106

212-300-5196

get directions

BROOKLYN

195 Montague St., 14th Floor, Brooklyn, NY 11201

212-300-5196

get directions
Call Now!