Getting out of debt seems to be at the forefront for most people. One of the most long-term debts that California consumers have is credit card debt. There are debt relief techniques that people have used to pay off or decrease their debts.

One of the top techniques to reduce credit card debt is to have a budgeting strategy. As part of budgeting, a significant number of individuals limited themselves to how many times they eat out and also cutback on routine expenditures such as phone and cable. Also, a small portion rented out a room to offset the amount paid in rent or mortgage. As simple as budgeting may seem, other individuals considered major credit decisions such as credit counseling and credit card debt consolidation.

Although it can be complex, debt consolidation is an option that most choose when their credit has already been damaged. For others, credit counseling may be a more suitable approach since the monthly payments are generally lower and so are the interest rates. Regardless of the decision, it can be beneficial for consumers to keep records of their debt and credit scores.

California consumers are encouraged to check their credit report, which is offered once a year for free. Doing so can allow consumers to see where they stand in their financial situation. If they are too deep in debt with almost no way out, consumers can consider bankruptcy protection. Bankruptcy generally allows individuals debt relief and to rebuild previously damaged credit. Exploring different types of bankruptcy can help consumers decide which option is best for them.

Source: dailyfinance.com, 7 Ways Americans Are Getting Out of Debt, Gerri Detweiler, Jan. 21, 2014