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What is the Fastest Way to Get Out of Credit Card Debt? – Joseph

“Dear Steve,

I have 4 credit cards with the total of $20000. What is the fastest way to get out of these credit card debt?

Been paying the minium payment for a long time. even consulted with companies but not sure they are a good solution in terms of how it will effect my credit.


Dear Joseph,

The quickest way to get out of credit card debt is to pay it off with an unexpected windfall of money.

Outside of that it’s avoiding the addiction to minimum payment crack and consistently sending significantly more than the minimum payment each moth to pay the debt off as quickly as possible.

THe minimum payment is not designed to get you out of debt. It is designed to maximize the profit made by the creditor.

If you have good credit then you may want to consider a solution like to get an unsecured fixed rate debt consolidation loan that will allow you to repay your debt within three years.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

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About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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