Knowing how to pay off massive credit card debt could save you a tremendous amount of money. To get out of credit card debt, you need to be proactive and have a plan. There are viable options out there to paying off massive credit card debt. You can chip away at your debt by carrying out some of the tips described below, or you can take a more audacious approach in eliminating credit card debt with a debt settlement. Keep reading for more information on how to pay off massive credit card debt, or contact me for a free consultation to go over your debt relief options.


Reduce Massive Credit Card Debt

If you have huge credit card debt spread over multiple credit cards and not enough income to forecast an end to your debt struggle, then it’s time to take control of your finances before bankruptcy becomes your only option.  There are a variety of ways to get out of massive credit card debt, such as:

  • The Avalanche Method. Focus on paying off credit cards with the highest interest rates first.
  • The Snowball Method. Make minimum payments on all of your credit card accounts. Put the most money toward the smallest credit card debt.  Then once you have tackled that credit card, move onto putting the most money toward the second smallest debt.
  • Try to transfer balances on credit cards with higher interest rates to cards with lower interest rates.
  • Make a budget to pay off massive credit card debt, allotting as many funds as possible toward your debt.
  • Stop using your credit cards while paying them. Stick to debit cards.

To get rid of credit card legally, a debt settlement could be your best option.  

how to pay off massive credit card debt
Follow these tips to pay off massive credit card debt!

Get Rid of Massive Credit Card Debt

Getting out of massive credit card debt with a debt settlement should be handled by a credit card debt attorney who has proven experience.  Be aware of debt settlement companies.  They are not held to the same ethics under the law as attorneys. 

A debt settlement is a negotiation made with the credit card company (ies) that you will pay an often greatly reduced amount of the overall debt in a lump sum or over a period of time.  The process involves stopping making payments on your credit card(s), at which point the credit card company (ies) “charges off” your account.  At this point, they will most likely sue you for non-payment.  The credit card companies would rather not have to pay high attorney fees going after you in a debt lawsuit.  Plus, they would rather be paid back some of your debt then have you declare bankruptcy and receive nothing.  


How Debt Settlement Can Get You Out Of Massive Credit Card Debt

Here is an example of how a debt settlement is utilized to get out of credit card debt.  A small business owner realized that her business stopped generating the revenue it had in the past after the Recession. As a result, she began to rely on a number of credit cards to supplement her income. This is a rather common story for individuals that have a significant dip in their income. Over the course of several years, she had opened 11 credit cards and the balances went up to approximately $73,270.00. She had to shut down her business and could no longer afford the minimum monthly payments, which totaled a little over $1,800.00 per month. The accounts all went into default. She contacted a debt settlement attorney to see if her credit card debts could be negotiated. She enrolled in a plan with the attorney in which she would put money aside monthly to accumulate the funds necessary to negotiate these debts. Over the course of the next two and a half years, he debts were negotiated down, one at a time, based on what she was able to save. In the end, she agreed to settlements on all 11 of her credit card accounts for $29,295.00. She saved $43,978.00 on her credit card debt (a 60% savings on the balances due when she retained the attorney). She has since established a new small business and is thriving without the burden of these high balance, high interest credit card accounts.

An experienced credit card debt lawyer can help you get rid of massive credit card debt faster, since they understand the how to negotiate with credit card companies.  Oftentimes, credit card companies turn their debt collections over to law firms who handle multiple credit card company collections.  Having a credit card debt attorney on your side who has substantial relationships with these firms can make an immense difference in eliminating credit card debt.

While our have office is in San Diego, we help individuals and small business owners throughout the State of  California and Texas. Give us a call at 844-729-4866 and we can arrange for an experienced credit card debt lawyer to look at your particular situation and map out the best route to get you out of debt. 


Jonathan B. Haskett is a debt attorney serving clients in California and focuses exclusively in debt relief. He is licensed to practice in California. Mr. Haskett owns and operates The Debt Settlement Lawyer in San Diego, and helps people with debt problems all over the country, if possible. For more information, please contact attorney Jonathan Haskett at 844-729-4866, or  or use our online contact form.