The snowball method of credit card debt payment is a very effective strategy to make your credit card debt disappear fast. It involves focusing all your debt payment on one card at a time until, eventually, you pay them all off — and a lot faster than you think.

First, you need to take an inventory of all your credit cards, their interest rates, how much you owe on them and what their minimum payments are. Next, you need to isolate one credit card to focus all your extra money toward paying off. You’ll usually want to choose the credit card that has the highest interest rate to pay off first — that’s because this is the most expensive one for you to hold a debt on.

Then, when you identify the most expensive card to hold a debt on, you’ll want to pay the minimum payment each month for the other cards, and direct as much free cash as possible toward paying off the expensive card. After that card has been paid off, you’ll have the cash you were using to pay off that card free to focus toward the next. Then, when that card is paid off, you’ll have even more cash free to pay off the next. So on and so on, and your amount of free cash available will snowball until the final cards get paid down extremely quickly in comparison to the first.

This “snowball” method is very effective and it’s been used by many credit card debt holders to get out of debt as quickly as possible without filing for bankruptcy or enrolling in a debt management solution. However, it can’t work for everyone. If your level of income is too small to ever pay off your debt, you may be a good candidate for the bankruptcy process, which can be used to resolve toxic debt that is impossible for you to pay off.