How I Plan To Get My Credit Card Debt Under Control By Summer 2021

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I never considered myself the most financially stable person, but things were a bit more manageable before the pandemic began. I had a job that covered the bills, a little money set aside in savings, and a system for keeping my debts under control. I even had some extra cash to splurge on things like vacations, fashion, and entertainment. Then March 2020 came, and everything changed. 

The world came to a halt, and my finances went out the window. I was furloughed and had to rely on a reduced income to cover my expenses. Within a few weeks, I had completely emptied my emergency fund. I had no choice but to start relying on credit cards to survive. I’d charge everything from the groceries to the utilities believing I would get things back on track once things calmed down. 

Health Crisis Turned Financial Nightmare

Although I was fortunate to return to work in December, I quickly realized the damage was already done. I fell behind in just about every bill you could imagine. I had no nest egg for unexpected expenses. Not to mention, I had wracked up so much credit card debt that creditors were calling me multiple times a day. Feeling overwhelmed with stress, I realized I had to do something to get things back on track. 

Summertime Goals

I did some research to learn more about my options and found a few that I’m optimistic will help me reach my financial goals. I believe that if I stick to this plan, I’ll have my debt under control by the summertime. If you’ve found yourself in a similar situation, perhaps these tips will help  you too. 

Facing The Music

The first thing I decided to do was face the music with creditors. Continuing to duck and dodge their phone calls and notices would only make matters worse. I learned that if you simply reach out and explain your situation, many of them are willing to work with you. So, I found some time to contact each of my credit card companies to let them know why I had such high balances and few payments. The representatives understood and removed late fees to reduce the amount I owed. 

Debt Consolidation

Although I had managed to get late fees removed from my credit card accounts, the balances and interest rates were still too high. The minimum payment would barely cover the accumulated interest, which meant I’d be paying off credit cards for years to come. So, I decided to consider debt consolidation. I found a site called BriceCapital.com, where I completed a short form. A representative contacted me to discuss my credit card debt to determine if I was eligible for a consolidation loan. It wasn’t long before Brice Capital stated they could help me. I was approved for a loan that would allow me to lump all my credit card balances into one loan. Since the debt consolidation loan had lower interest rates, it would save me a ton of money in the long run. 

Responsible Borrowing

Brice Capital gave me a second chance at getting my finances back on track. They took on those high-interest high-balance credit card payments. It stopped the collection calls, eliminated the late fees, reduced interest rates, and enabled me to free up cash that could be used for other areas of my life. If I was going to reach my goal and get my credit card debt under control by summer 2021, I had to be a responsible borrower. 

I set reminders on my phone to notify me when loan payments were due. Any extra money I received from income taxes, stimulus checks, or overtime in the office, I applied to the Brice Capital debt consolidation loan to get the balance down faster. If I continue this pattern, it will begin to reflect in my credit, and I’ll be on my way to becoming debt-free. 

Who wasn’t financially impacted by the coronavirus pandemic? Although things are still difficult, things are once again starting to shift. The only way to be prepared for what lies ahead is to hunker down and get your finances back in order. By negotiating with creditors and working with Brice Capital to consolidate my debt, I have no doubt that summer 2021 will look a lot brighter. 

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