 TITLE: What to Do When You Max Out Your Credit Cards CONTENT: Set Up a Repayment Plan\n-----------------------\nCreating a repayment plan is an essential step in getting rid of your credit card debt. If you've made a general budget, you should have an idea of how much you can afford to pay toward your debt each month. Once you have that figure, use it to determine how much you will pay toward each card (if you have multiple credit cards with balances) each month.\nTwo popular methods of attacking credit card debt are the debt avalanche approach and the debt snowball approach. In the debt avalanche approach, you'll focus on paying back the credit card debt with the highest annual percentage rate (APR) first, which will save you money on interest payments over time. With the debt snowball approach, you'll make minimum payments on all your cards every month and put any extra money you have toward the credit card with the lowest balance. This will help you reduce the number of cards with balances faster, and once you pay off each card, you can apply the amount you were paying to the other cards. END