How to Get Rid of Credit Card Debt (& Medical Debt) Fast | Beverly Harzog | Invest Diva

My guest today is a credit card expert who doesn't just talk the talk but walks the walk on paying off credit cards to achieve financial independence.   

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Beverly Harzog, who is a nationally recognized personal finance and credit card expert for U.S. News & World Report, was previously actually in an over $20,000 credit card debt and had maxed out seven credit cards, and she was able to get out of it and become debt free in only 2 years.  Now she uses credit cards as a tool for her, as opposed to letting the credit card companies use her as a tool for their profits.     This is the second episode of a trilogy on methods to pay off debt, so make sure you're subscribed to our channel. If you have any questions you want Beverly to answer in the next episodes, make sure you leave a comment below and let us know... and don't forget to share this video with anyone you know who needs to get out of credit card debt FAST.

HOW TO PAY OFF DEBT Minute 3:55

 "One of the books I've written confessions of credit junkie, I use the blizzard debt method, the Snowball debt method, and avalanche Debt method.   With Debt Snowball, you start with the low smallest balance on a credit card and you work your way up to the largest and you pay more money this way because you weren't thinking about the interest rate, but you get that quick lift, you know, for paid something off quickly.   The avalanche debt method is would you start with the highest APR and they go down to the lowest you save more money. So I just combine the two I started with the snowball and started with my smallest balance because I needed to feel good about something in a hurry to keep going and then I switched to avalanche."   

Minute 6:40 HOW TO GET RID OF MEDICAL DEBT  One thing that I recommend to pay off debt is that you call your medical providers and talk to them about your bill. You know, let them know that you were unable to work because of the symptoms. Just be upfront and honest, you can do this with credit card issuers as well.   They have hardship departments. So if it's a situation, say where you think you're going to be out of work for a year, and then you think things are going to be looking up for you, again, you'll be able to work again, call and talk to your credit card issuers hardship department about that.   They will try to put together a program for you things usually last about a year. So it's for short term issues they might let you skip a couple of payments or they might let you pay half of the minimum payment just to stay current is best you can.   Let's say you've got 100 grand and medical debt. Call a credit counselor to talk to somebody at National Foundation for Credit Counseling, and spend an hour on the phone with a counselor there and then and then you can decide what would be the best path for you to take. Now, some people in this situation do end up with debt, management program or even bankruptcy. But in most cases, sometimes just a little nudge from the counselor can get you sent off in the right direction, and that helps you recover that do something.   It's only going to get worse if you don't can be proactive about