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Millions of Americans are currently asking themselves this simple question: is it possible to get out of credit card debt? They may be thousands or tens of thousands of dollars behind on their payments. 

Many families have been in debt for multiple generations. It seems to simply have become a way of life and they have no idea how to get out of credit card debt. However, there are a number of strategies that people can use to overcome their debt problems and start on the road to financial health and independence.

Supply and Debt

There are two broad areas of improvement that most debt repayment plans emphasize. One is the supply side of the equation. These strategies involve a person simply having more money that they can throw at their debts. They can earn more money through taking on more work or investing wisely. 

A family can also draw up a budget that lays out exactly what they spend and bring in every month. Assigning a task to each dollar can help trim the fat of a family’s finances and allow them to accumulate as much money as possible to help pay off their debt.

Decreasing the Amount Owed

The other area to focus on is reducing the general amount that a person owes. There are several different strategies to accomplish this without severely altering a person’s credit worthiness. One of these is a debt consolidation loan. 

In most cases, people with debt have accumulated what they owe from multiple sources. Each source has a different interest rate. A debt consolidation loan brings all of those rates together under one loan with a relatively low rate. Payments are lower and much easier to make when they go straight to one source.

Another similar approach is the debt avalanche. In this method, a person in debt will arrange their debts by interest rate and will start by paying off the highest interest rate first. A company like Freedom Debt Relief can help with this process. That debt will end up costing less than if it was paid off at the same time or later than all the other debts. Then, the payee moves on to the second-highest interest rate and so on until the debt is entirely paid off. 

This approach will result in them paying a substantially lower amount in interest over an extended period of time. It will also help reduce the number of debts increase the amount that goes to each individual debt that is remaining once the first one is paid off.

The Psychological Nature of Debt

There are also approaches to paying off debt that emphasize the psychological aspects of debt repayment. One of these is the debt snowball method. With the debt snowball, a person paying off their debt starts with the smallest and moves on to the next smallest once the first is paid off. They reduce the amount they owe and the number of their debts remaining after each payoff. 

In addition, they feel a sense of accomplishment and momentum, which helps them persevere through what may be a years-long process. The debt snowball method is therefore advantageous for anyone who is worried that they will lose focus and not be able to see through their repayment plan to the end goal.


Is it possible to get out of credit card debt? These are simply tools and are far from an automatic cure for debt. But people trying to get out of debt need to be careful with their spending. They need to develop good money habits that ensure they spend less money than they bring in. 

Then, they can work with a trusted partner such as Freedom Debt Relief to help draw up a plan that will most efficiently put their income towards what they owe. With this approach, families can escape the grasp of debt and start to change their financial family tree forever.

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