Six ways to get rid of credit card debt FAST in 2022.

Six ways to pay off credit cards 5 x faster. Government help scheme, debt consolidation, Fixed payment not minimum, direct debit culling, Highest interest first, Budgeting

  1. Government Help Scheme
  2. Debt Consolidation
  3. Pay Highest interest first
  4. Fixed Payment not Minimum 5 x faster.
  5. Direct Debit Culling
  6. Budgeting

Do you know the average credit card bill in the UK is £2,177? You are not alone.

Paying the minimum amount each month, which most of us do could take over 24 years yep 24 years to pay off £2,177.

I have put this blog together as I think most people have been in this situation before and take far too long to realise, so I hope to help you the earlier in life the better.

BOOM Suddenly, you are an adult and in quite a lot of debt, how and how did that happen, so let us get it sorted.

It is going to take commitment and not be much fun, but once you are out the other side, life is so much more comfortable.

You can plan for things, and if something goes wrong, you have some money put aside to pay for it.

So, first things first do me one favour before we start.

GET up look in a mirror, what do you see, desperation, happiness, depression, do not let money be a worry it is time to take control only you can do this it could take a year might take three but.

Take Control.

It is going to be boring a royal pain in the bottom and not much fun.

This is an explanation of how you can clear credit card debt or debt fast please take a look around my site Alittlemore for diet, financial and passive income help.

New for 2022 join me and earn a side income from profit accumulator I’m only on to week three and already £119 in profit just doing it in my spare time

1 apply to have debt cleared Government help scheme.

I have not investigated this scheme totally, but I think you will need to be on low-income support or some kind or on benefits to be able to benefit from this.

Click here to look but be aware some are out there to offer high interest consolidation loans which you do not need you could do it for yourself.

2 Consolidate debts.

I do not like this option myself as it is too easy its lazy and will not fix the problems you have with money.

you just get a loan pay it all off and you are back at square one but have credit cards with a balance of zero.

What will you end up doing!

I have still added to the list, but I suggest you subscribe to my email list and learn about money not just spending it, if you still wish to go down this route follow the info below.

Look at all your interest rates on credit cards, overdraft, store cards and anything else you owe see example below.

Credit Card 17.9% £2,177 owed Minimum payment £53 a month

Store Card £795 25% interest Minimum payment £23

Overdraft £300 £5 a month usage

Combined debt £3,272 time to pay the debt off 24 years.

Apply for a loan £3,500 giving an extra £228 in your account as well.

£3,500 over 5 years at 9.4% interest is £72.68 a month.

Taking out a debt consolidation loan saves you 19 years against paying minimum amounts off store and credit cards also an extra £9 a month in your pocket and an additional £228 to put aside for when something goes wrong.

Do not go blowing it all that is not why we are paying all the debts off for next week I am writing out a money management blog how to handle and look after money once you have got it.

3 Highest interest first

Ok so you are in a bit of fix feeling down cannot see a way out cannot get another loan or credit card or have decided to do it the right way and find out why you are in debt.

I class money in three stages.

  1. Blind money stage lets debt build-up without even knowing about it say 16 – 20 years old live for today who gives a S**T about tomorrow.
  2. Burry head in the sand you can see it but do not want to take responsibility to say 20-23. Just ignoring it whilst its building even more you think just work harder get promotion, but it will not work you need to learn about money.
  3. Acceptance organising your finances as you take on more responsibility 23 years old to death.

Do not worry. You have come to the right place if you cannot get your debts written off or get a loan do not worry, it is a little bit more work, but worth it the quicker you start, the faster you will be debt-free.

Having told yourself in the mirror that you are going to sort out your finances.

NOW get a pen and paper open your bank account and list all your debts, including the interest rates and the amount you pay monthly on all.

  • credit cards
  • store cards
  • loans
  • doorstep loans

Have you done that brilliant that is one step closer to freedom?

 Please, please, please do not be embarrassed or put off by the numbers it is all about you sorting yourself out, pat yourself on the back no one else will.

Just do not bury your head in the sand and walk away, hoping it will just disappear.

4 Fixed monthly payment 4–5 x faster than the minimum payment amount.

Follow the steps below this is where some of the magic happens.  

  • Note down the minimum payments you are paying for each debt.
  • Now set that as your fixed monthly payment.

When you pay the minimum amount of the debt each month, the amount gets smaller every month.

For Example

A credit card with £2,177 debt at an interest rate of 17.9% will take over 24 years to pay off.

As suggested above, setting the fixed payment as your minimum payment now.

Will save you thousands in interest and reduced the term on the example above from 24 years to under five years.

If you do not believe me click here and try it for yourself on Barclay’s credit card calculator.

You just put your debt and the interest rate, and it will calculate the amounts and give you a time for when the debt will be paid off.

5 Direct Debit Culling

Once you have the above steps completed and know your interest rates and what is going in and out of your account do not worry it is probably more than is going out at this point that is why we are doing this aren’t we?

The next consideration is direct debits open your account and go to the list of direct debits sit and have a chat with your partner and kids.

You have decided to get out of debt and do it as fast as you can so this will take some sacrifices.

Get your pen and paper again no we are not back at school well maybe kind of.

Once you have made your list write each one’s value down, then go ahead and cancel them even the £5 a month that might go to a charity I am sorry, but charity starts at home first.

Once you have cancelled the direct debits on your list, add the amount to the highest interest rate debt you have got on your first list.

Just £5 a month could knock five months off the term hopefully you have got close to £50 if not more let me know in the comments below I would love to know how I am helping.

The next step is the final nail in the coffin and the hardest to commit to but is the fastest way to get rid of your accumulated debt.

6 Budgeting

This one goes without saying but is so easily overlooked. It is now making a massive saving for me included and helping build my savings quicker than I thought I could.

Once you get paid take out 15% regardless of how much you make, it does not make a difference; it is a percentage, not an amount.

If you earn £1,234 take out £185 put into a savings account look at my nutmeg review here, I am making tremendous interest in that account and you could also.


Tell yourself it is not going to be forever; it is going to make a massive difference in the future for you and your family.

But now is the time to make as many cutbacks as you can in day-to-day shopping, coffee, nails, hair whatever it is you waste your money on.

If you do something, weekly stop does it only once a month now as a treat.

If it is monthly, do it every other month stick that money on one of your debts.

I know all work no play makes a sad Jonny, but I have not said you could not treat yourself have I am just making it count.

Before you moan and rant about me telling you to stop smoking drinking and breathing, I used to smoke 20 a day ad drink just about every night I lost my job just about everything, so I stopped both for a while. Still stopped smoking now.

If you smoke change to tobacco and roll your own, it is cheaper and will probably kill you a bit quicker as well but hay just like money, it will not happen to me until it does.

If you vape buys some Nicorette and stop, I did.

If you stick to all rules put as much as you can onto your debts, you could be debt-free in a year.

The money you put into savings guide it with your life try not to use it.

You probably will have to as life happens things break, or you need to put food on the table.

Just try to keep a chunk of its aim to have 50% of it left at the end of the month when you get paid again.

Now, pay it off your highest interest debt.

If you can manage £100 extra a month that is combining the direct debits you cancelled earlier, it would take it to under two years.

Paying £150 a month would be one year.

Then when that debt is paid, you take the full amount you have been producing and put that onto your next debt including the fixed minimum payment that is already being taken on that account.

An example of total paid could be.

  • £63 a month fixed minimum amount following step 3.
  • £150 a month from savings you have made direct debits and cancelling Direct debits.
  • £63 on the next card is already being paid.

Add all above, and you are now paying £276 a month onto the next debt it will be in your pocket soon instead once the debts are paid off.

Continue this until you are debt free it will take some time to please remember to subscribe to my site as i post great info on budgeting, finance and wealth weekly.

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Published by J Little

Jonathon Little 39 years old passive affiliate income website owner.

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