Do you have multiple credit cards? Do you have a lot of different debts that you make payments on every month? If you do, no worries, you're like 98% of everyone else who is in the same position.

We all carry many debts, ranging from:

- Credit Cards
- Home Loan
- Car Loan
- Store Loans (Store Credit Card)
- etc...

The problem is that most people don't know that there is actually a strategy to help you get out of debt sooner! Rather than just "consolidating debt," which is also a great idea, there is actually a specific "payment strategy."

What most people do is that they make the minimum payment on each credit card plus a certain amount above it to start reducing their loan on all the debts. However, this is the WRONG way to go about it.

See, if you're in a large amount of debt, you have a few different concerns:

1. Your credit is bad
2. You're paying high interest
3. You have too many payments to make

Well, if you want to save your credit from getting shot and want to start paying off each debt faster - here is the exact strategy to use.

Make ONLY the minimum payments on all your debts (ex/ credit cards) except one of them. On that one, you take ALL the additional payments you would have made to each debt and pay that towards 1 credit card (preferably the one with the highest interest rate).

So, for example, let's say you were paying $50 extra on each of your 6 payments. Now, you pay $300 extra on just ONE of your debts.

This way you will pay off that debt much sooner and be able to close that account. Once that happens you now switch your attention to a second debt (making only minimum payments on all of the others).

This strategy is perfect to help you fight back against your large credit card debt and start closing down accounts one by one. If you're trying to save your credit, then you need to focus on closing the "amount" of open credit you have - that is why you want to focus on 1 source at a time, it pays off quicker.

Also, this will help you save money because you will pay the highest interest rate debts off first (saving you money in the long-run).

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