On average, households in North Carolina and throughout America have $15,000 in credit card debt. If you are trying to reduce or eliminate your credit card debt, there are many steps that you can take to achieve this goal. Credit counselors and others may be available to help you choose a debt reduction strategy or help you seek debt forgiveness from creditors.

Get into positive debt repayment habits

Ideally, you will make more than the minimum payment on your credit cards each month. This will minimize the number of payments that you’ll need to make as well as reduce the amount of interest that you’ll pay to lenders over time. It is also a good idea to sign up for automatic payments to ensure that you stay current on your accounts and avoid paying late fees.

Use the debt snowball or avalanche methods

If you use the debt snowball strategy, you will make extra payments each month on the card that has the lowest balance. Once that card is paid off, you apply the monthly payment on that card toward the next lowest balance. If you use the debt avalanche method, you will put extra money each month toward the card with the highest interest rate. Once that card is paid off, you will shift your focus toward whichever card now has the highest interest rate.

Debt consolidation may be appropriate

It may be possible to consolidate your debt by transferring existing balances to a new credit card. In many cases, credit card companies will offer new customers 0% interest for up to 12 months or longer. It may also be possible to obtain a personal loan to consolidate credit card debt at a lower interest rate.

Balance transfers and personal loans may be ideal ways to obtain debt relief in a timely manner. You may also want to consider filing for bankruptcy. An attorney may explain your options and provide insights into the potential pros and cons of those choices.