How To Pay A Credit Debt
There are several ways to pay a credit debt. First one is the debt restructuring. You can tell the customer representative that you want a debt restructuring. The bank will come up with a suitable plan for your payments. If you are not able to pay in cash, you will have a time loan paying debt plan with a changing period 9 to 24 months. Although your credit rating will not be affected by debt restructuring, you should know that you will not be able to use your credit card until you finish your payments.
The second one is transferring loan. If you have different debts to different banks, you can gather them into one bank. However, not all banks accept loan transferring. For the ones who accept, you should be able to give an assurance or agree to empower the bank to pay the debts. As a result, you will end your debts in one bank statement.
The third one is low interest consumer loan. It is not enough to pay the minimum payment amount to end the debt. Thus, having a low interest loan will be helpful. Nevertheless, it is hard to get a low interest consumer loan from the bank if you have a low credit rating.
To conclude, you can choose one of the methods above and consider it relative to your payments. But be careful during decision making for the method, they are not all suitable for all kind of situations.