Below are 5 ways to pay off your debts:
1. Paying more than the monthly minimum
Assume you carry a balance of $5,000 credit card debts with a monthly minimum of $150, it will take you approximately 199 months or 16 years to pay off your balance.
2. Snowballing your debt payments
3. Home equity loan
4. Borrow from your 401(k)
5. Renegotiate terms with your creditors