I had a comment from a reader asking how to get on top of $52k worth of credit card debt.  This was my advice:

The first thing to do is stop using your cards.  Cut them up if you have to.

The second thing to do is to pay at least a little more than the minimum payment - it could take 20+ years to pay off credit card debt if you only pay the minimum. 

Most credit card companies want you to pay 2.5% of your balance as the minimum payment.  Let’s assume a APR of 6.9%.  This would give you a repayment of $1,300 a month.  If you pay only the minimum amount requred each month, it will take you TWENTY FIVE YEARS to pay the balance down and you will pay $15,471 in interest.

If you can commit to making that $1,300 payment each month, regardless of a lower minimum payment, you will pay down the balance in just under FOUR YEARS and pay $7,262 in interest.

Big difference, huh? 

Some options are to investigate the 0% balance transfer offers - some of them are up to a year.  You’ll save a huge amount of interest.

It is absolutely imperative that you pay more than the minimum and pay off any new purchases in full each month.  If you don’t, you will never pay off the card and the debt will just keep increasing.

If you are struggling under the debt load, I suggest contacting a credit advisory service in your area.  They will be able to contact and negotiate with the card providers.

Make sure your repayment plan leaves you with enough money to live on (frugally!) and to put a little into savings for an emergency.  Look at debt reduction like weight loss - slow and steady equals a lasting result, a crash diet equals piling the pounds/debt back on.