The best way to cancel an existing credit card or credit account is first to make sure the account is not delinquent. If it is current, you can send a letter to the accounts department, customer service, or business office of the bank that issued the card and request that your account be cancelled. Because the credit card is the property of the issuing bank, you also will need to cut the cards in half and send the cut cards along with your letter. Generally, banks will not accept a letter of cancellation unless the cut up cards accompany the letter and the account is current. Along with the letter you can either send a check to cover the outstanding balance or request payment arrangements. However, the payment arrangements they offer may or may not be the same as your previous monthly payment requirements.

Common attitudes that lead to debt

1. Ignorance. Many people, especially those in the baby boomer generation, never were trained how to handle money. The philosophy of today?s society is to spend and spend; if you don?t have the money to spend, charge it. If you want it, get it, because you deserve it.
2. Indulgence. In today?s American society we tend to feel that we should get what we want, when we want it. The whole concept of saving in order to buy seems to be a thing of the past.
3. Poor planning. No matter how noble our intentions may be, without a written plan that gauges and monitors income versus expenditures we will eventually find ourselves in debt and having financial troubles.

How to get out of debt

?The prudent sees the evil and hides himself, but the na?ve go on, and are punished for it? (Proverbs 22:3). The following are steps that anyone can take to get out of debt and to stay out of debt.
1. Give to God first. The first fruits of all that He gives us?the tithe from our gross income?must be our first commitment. Without faithfully fulfilling this commitment, all other efforts will fail.
2. Stop all forms of borrowing. This includes credit card use, personal bank loans, family loans, student loans, and all consumer credit. The sooner you stop borrowing, the sooner you will be out of debt.
3. Develop a balanced budget. A balanced budget is the primary tool in any family?s plan for managing money. If you are in debt already, the budget will need to be fairly restrictive at least for a while.
4. Work out a pay-back plan with your creditors. Most creditors are more than willing to work with people who honestly want to repay them. Make sure that every creditor gets something, but stay within the guidelines of your budget.
5. Learn to trust God. God knows what you need before you ask, so begin to trust Him for the things you need but can?t afford. Do not charge to get them; wait for God?s provision.
6. Exercise self-discipline as a lifestyle. Curb impulses to buy. If it is not budgeted, don?t buy it.
7. Seek wise counsel. Many people need assistance in establishing and maintaining a budget and working with creditors.
8. Rely on God?s Word. Make all financial decisions based on the principles of God?s Word, not on the world?s financial principles and conventional financial wisdom.

Conclusion
God wants us to live debt free in order to serve Him to the utmost of our abilities and resources. If we are in debt, we are bound to the creditor and are not free to serve God to the utmost. If you are in debt, determine now to get out and stay out. Anyone can become debt free and stay that way, with desire, discipline, and time. With God?s help, it can be done.

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So my friend let us be prosperous in a productive way. I?ve enjoyed sharing my heart with you, forward this to any one you feel can use the stress relief, but leave the resource box intact.

About the Author

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