There’s credit card debt, and there’s heavy credit card debt. Minnesota consumers who are in way over their heads with credit card bills are likely looking for a way out. Making payments on these high interest balances can make it difficult to meet other financial obligations. In the worst cases, indebted Minnesotans may default on payments and end up with credit card accounts in debt collections. This could ruin their credit scores for years. Long story short, if you’re at your wits end with credit card debt, the sooner you take action the better. You might even want to go to extreme measures to end the credit card debt cycle and save your credit score.
Five Extreme ways to Save or Make Money to Pay down Heavy Credit Card Debt in Minnesota
Minnesota consumers who are serious about generating more income to get credit card debt under control should listen up. These strategies may seem extreme. However, they can help you achieve your debt management goals faster. By going the extra mile, you can (hopefully) salvage your credit score and get on with your life.
Rethink your living situation.
If your house or apartment is a little too big, think about downsizing. This will allow you to save money on your rent or mortgage. Also, with a smaller place to cool and heat, you’ll probably pay less for utilities too. If you’re locked into a lease, you could take on a roommate. Sharing space with another person isn’t always easy, but having a roomy will cut your expenses by a lot. Do you live close to a college or university like Minnesota State or Walden University? There are always students looking for affordable housing.
Sell off some of your stuff.
There’s a good chance that buying too much stuff is what got you so bogged down in credit card debt in the first place. Wouldn’t it be fitting to sell some of this stuff in order to escape debt? Sure, that autographed Joe Mauer jersey is awesome, but do you really need it? There are probably several items in your home that you can sell for a nice chunk of change to throw at bills. It’s also easy to find online buyers through sites like eBay, Amazon Marketplace, and Etsy.
Sell your car and use another mode of transportation.
If you live in a big Minnesota city like Minneapolis or Saint Paul, you can probably get around on a bike or with a ride sharing service such as Uber or Lyft. Many people are doing that now. Public transportation is also an option when it’s too cold or rainy to pedal it to work or school. If you don’t like the idea of being without a car, think of this as a temporary solution. You can use the money from the sale of your vehicle to pay down credit card debt. After you’re all squared away with your bills, you can start saving money to put toward another car.
Ask for a raise at work.
If you’ve only been at your job for a few months, now is probably not the time to ask for a raise. However, if you’ve been with the same employer for a while, and you are due for a wage increase, it won’t hurt to politely ask for more money. Just make sure that you can make a good case for yourself before making your request. Have you always been punctual? Have you made meaningful contributions toward the success of the company? It will also help a lot of you can provide evidence to support your claims.
Consider starting a side hustle.
On the other hand, if asking for a raise isn’t a realistic option, you can always pick up a side job. There are a lot of options out there for Minnesotans who need more income. You can offer to walk dogs, babysit, or serve as a part-time caregiver to an elderly person. In addition, if you have specialized skills, countless side hustle opportunities can be found on the internet. Sites like Fiverr and Upwork allow freelancers to pick up short-term or long-term jobs that fit their skill sets. On these platforms, graphic artists, animators, editors, and blog writers are always in demand.
How Minnesotans Coming out of Credit Card Debt can Boost their Credit Scores
Once your credit card debt is under control, you should focus on your credit score. If you’ve made any late payments or allowed accounts to go to debt collections, your credit score may be low. For Minnesota consumers with low credit scores, the best way to start the credit repair process is to check for credit report errors.
Your credit is score is calculated based on information found on your credit reports. This is why it is important for credit reports to be accurate. Any mistakes or inaccurate items can bring your credit score down. Therefore, if you haven’t checked your credit reports in a while, go to www.annualcreditreport.com and request copies from TransUnion, Experian, and Equifax – the three major credit reporting bureaus. For future reference, you can do this every 12 months.
Minnesota consumers who find errors on their credit reports can now get a FREE credit repair lawyer to dispute them and have them removed. Even if you suspect that there might be mistakes on any of your credit reports, you can request a free credit report review from Credit Repair Lawyers of America.
The Free and Legal way to Get Better Credit
Don’t let errors on your credit reports bring your credit score down. At Credit Repair Lawyers of America, we’ve been cleaning up credit reports for consumers since 2008 for free. How do we do it? The law allows us to collect our fees and costs from the defendants in any successful action. This is why our clients pay nothing for the work we do.
Let’s start the conversation about what we can do for your credit. Set up your free consultation today by calling Attorney Gary Nitzkin at (612)235-4458 or sending him a message through our Minnesota Credit Repair Lawyers contact page.