Sea of Debt - Credit Card Debt Elimination

Credit Card Debt Elimination

Sally the Seahorse was swimming in the Sea of Debt. More specifically, credit card debt. Read about how she got out of it.

Sally's Journey

One day when Sally the Seahorse was shopping, her credit card was declined. "Surely there must be some mistake," she thought. She tried another card, and it too was declined. She was very embarrassed, so she went home and called her credit card companies. They told her she was maxed out. One of the companies asked if she was going to have trouble making her payments. Now, Sally wasn't the most financially responsible seahorse in the ocean. She didn't even know what her minimums were. The customer service fish she spoke with suggested that she look at her statements. So she opened the stack of mail that had been sitting on the kitchen table. Sure enough, she had credit card bills. And they were all due last week!! Sally knew she needed credit card debt elimination and she needed it soon!

Unsure of what to do next, she called the credit card company that asked if she was going to have trouble making the payments. Luckily, she got the same fish she had spoken to before. He heard her story and suggested that she contact a debt management company to enroll in a credit card debt elimination program. "What's a credit card debt elimination program?" she asked. He explained that there are actually several different kinds. He also gave her the names and phone numbers of some companies that offered these credit card debt elimination programs.

With that she called and got different quotes about her situation. They all sounded similar, but she ultimately decided to go with the credit card debt elimination company that had the best fees. She learned that out of all the credit card debt elimination programs there were (like debt consolidation, debt consolidation loans, debt consolidation mortgages and debt settlement) debt consolidation was going to be her best option. When she heard she'd be out of debt in five years, she was appalled. "Five years!" she exclaimed. But when they credit card debt elimination specialist explained how long it would take her otherwise (15 years or more) she was relieved. But she vowed to get credit counseling and stop using her credit cards unless it was an emergency.