Is there any remedy from the bank\'s side to avoid this situation

I have 2 credit cards. Is it possible to pay one credit card using the other and the other credit card using this card? So in this way it appears I can indefinitely maintain the state without actually paying any of the credit cards and without being a defaulter. Please let me know if this is correct or is there any remedy from the bank\'s side to avoid this situation.

2 Answers

This is wrong idea. It is a terrible idea. You'll never get out of debt. Rather, you'll get into serious debt problems. Plan a budget and manage your finances efficiently. This will help to generate extra cash. Use this cash to repay the credit cards.  


You can use the two credit cards in order in order to pay off the debts. But if you follow the policy which you've mentioned above, you won't be able to pay off any of the cards in full and your debts will increase. Thus, it will be better to contact your credit card companies and take their assistance in consolidating or settling the cc debts and pay them off to get rid of them.


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