How to Get Rid of Your Credit Card Debt

While many believe that the amount of time it takes to pay off a credit card debt relies on the size of the owed sum or income, the reality is that with meticulous planning paying back faster is more than possible.

One of the recent cool ideas from scientific minds is that you need to restructure your thinking and use a system to ensure that you pay off your debt as quickly as possible.

Theresa Kuchler and Michaela Pagel created a free-of-charge service called

One of the main goals of this new web platform is to help people organize their payments and find a solution to get rid of debt as quickly as possible.

Developers decided to track down the success of their customers who had significant amount of debt and used the service to plan their payments in order to reduce their debts. Monthly payments created an organized system that slowly but surely reduced debts. Whether a debtor can or cannot pay off the debt depended mostly on their dedication to stick to the recommended regimen. The size of debt and income did not correlate with the ability to pay off as much as the regularity of payments itself.

The Stats

The economic situation in the United States is quite dire. The collective debt amassed by Americans is over $1 trillion which is frightening, but manageable. One of the biggest problems is that an average American still prioritizes immediate desires over long-term commitments and debts.

Despite having a system of payments that was designed to quickly reduce the debt, most customers still did not stick to the regimen and paid less than 30 cents for every planned dollar on average. Developers of the ReadyForZero website argue that their customers simply prefer to make smaller purchases and improve their livelihood immediately by a slight margin instead of paying off debt and creating a much better future for themselves.

This impatience and inability to the bigger picture is what makes our country full of debtors who struggle to make ends meet by the end of each month. They misplace money received from payday lenders even if they receive better odds by using reliable services like and get a better deal. This mismanagement of debt is what ruins America.

What’s Next?

What’s interesting is that results obtained by Kuchler and Pagel were not that surprising. In fact, the vast majority of studies show that people rarely think ahead. A simple test was conducted by researchers from the Boston University. They noticed that people were more likely to make a payment, if they were reminded by the bank about 72h prior to the due date. If a reminder came in earlier, people would not care about paying as much.

The study by Kuchler and Pagel is slightly more informative and interesting. They also focused on what is the biggest enemy of any debtor: temptation to spend their money. Their service is what makes it easier for debtors to pay off their credits. The temptation is removed from the equation. Customers simply allow the service to subtract a necessary amount from their bank accounts directly to pay debt. This means that ReadyForZero essentially decides for their clients what they spend their money on.

A hint: debts are the main priority.

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