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how to pay down debt: Snowball vs. Avalanche Method

If you are wondering how to pay down debt, you will be happy to know that you have choices when it comes to credit relief. You may have heard of the debt avalanche and the debt snowball methods before, but are not sure how they work and which is the best option for you. Both focus on paying as much as you can toward one of your debts, and making the minimum payments to the others. Although they are both effective methods for debt reduction, they take two different approaches. Use this how to pay down debt infographic to compare and contrast the two repayment strategies and decide which is the best possible debt reduction method for your unique financial situation.

How To Pay Down Debt

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American Consumer Credit Counseling (ACCC) provides nonprofit credit counseling and debt reduction services for consumers with credit problems who want to know how to pay off credit cards and how to get out of debt. Our certified credit counselors have helped thousands of individuals and families nationwide pay off credit card balances and unsecured debt through credit card relief programs and credit card debt solutions. Our debt management plans provide a kind of personal debt consolidation strategy for help getting out of credit card debt, and we offer a wide variety of financial education services to consumers who need help getting out of debt and managing their finances more effectively.

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