If you have been searching for a way to get out of credit card debt but fear you can't, don't worry.
There are things you can do.
Most home owners take out a home equity loan to consolidate debt.
However, what if you do not own a home? Now before you totally give up because you see no way out of your credit card debt, you still can.
You don't have to be a home owner to pay off your debt.
There other ways for credit card debt elimination.
You just need to know where to begin and know what the end game is.
Here are a couple of tips.
First you need to stop using credit cards accept maybe one to use for an emergency.
If you want to pay off debt, it makes no sense to increase it.
So do what you need to do.
Shred them, throw them in the fire place, or whatever.
Just get in the mind set that you don't use them any more and get rid of them.
This next tip is a long shot but you can try to negotiate with your creditors if need be.
Credit card companies realize that if you are carrying too much debt they run the risk of not getting any money from you if you should choose to declare bankruptcy.
In these times where the US is in a credit crisis, you never know.
They may be more than willing to suspend payments for a while, reduce your interest rate, eliminate annual fees, stop over-the-limit fees, and/or suspend late charges in exchange for diligent effort on your part to repay what you owe.
Hey, you never know it could help.
If you have been wondering how to get out of credit card debt if you do not own a home to use for collateral on a consolidation loan, you can start looking into other ways to eliminate credit card debt.
Actually you may be better off not owning a home.
After all why put it at risk? Diligently paying down those balances are the key.