5 proven ways to get out of debt
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Post on 21-Jun-2015
DESCRIPTION1. One type of debt relief program is consolidation. There are consolidation programs for both loans and bills. If you consolidate your debt, you will have lower interest rates, one monthly payment that is lower than your previous total monthly payments, and reduced or waived late fees.
<ul><li> 1. 5 Proven Ways To Get Out Of Debt1. One type of debt relief program is consolidation. There are consolidation programs forboth loans and bills. If you consolidate your debt, you will have lower interest rates, onemonthly payment that is lower than your previous total monthly payments, and reduced orwaived late fees.2. Another type of debt relief program is debt settlement, which is good if you have manycredit cards. With debt settlement, you will have only one monthly payment, a smalleroutstanding balance, and reduced or waived late fees.3. As a last resort, you can file bankruptcy, but this has negative consequences. After filingbankruptcy, you will probably never be able to take out a loan again, and you will always beconsidered to have bad credit.4.There is also the "ostrich method." This is not recommended and usually doesnt work. Itmeans to ignore your debt and hope that it just disappears on its own. If you do this, youwill probably end up being even more in debt.5. It is not necessary to look for help to get out of debt. You can also do it on your own bylearning to manage your finances. This is called self-repayment. This way you dont have topay any financial company to help you.Things you can do on your own to get out of debt include saving money when you can.Dont spend everything you make. You can lower your spending by buying only what youneed. Cut back on entertainment. At the grocery store, buy generic when possible or usecoupons. When going short distances, walk instead of driving to save gas. Turn off the lightsand electronic devices when not using them to save on utilities. If you make small changeslike this, you will have more money to spend on bills.Also, dont use credit cards with high interest. If possible, completely stop using credit andonly spend money that you have. Be sure to pay at least the minimum payment on all yourbills. Never be late on payments or else you will be charged a late fee. Commit to paying aspecific amount every month on some of your bills in addition to the minimum payment,starting with the bills with the highest interest.To make more money for paying bills, you might want to consider selling some of your stuffthat you no longer want or need. You can have a garage/yard sell or sell some things online.Another way to make more money is to get an extra job. You can get a part time job in theevenings, early mornings, or weekends to supplement your income. For a more flexibleschedule, you could get a job that you could do at home on your own time.</li></ul> <p> 2. Whatever strategy you choose, you should start immediately. Dont make excuses for notbeing able to pay your bills. Write down your financial situation on paper, including howmuch you make each month, your minimum payments that you must pay, additionalamounts that you want to commit to paying, and how much you need for other expenses,and what is left after all necessities are paid.If you want to get the best credit ever, get approved for your dream home, car and stop collectorsfrom harassing you on a daily bases, then its time to take action by signing up for you free SelfCredit Repair E-Class by Clicking Here .Once you sign up, you will receive two free gifts: 1-SpecialReport on Stopping Debt Collectors. 2. Listen to the First Chapter of the Audio Book Hidden CreditRepair Secrets. Mark Clayborne is Amazons best-selling author of Hidden Credit Repair Secretsand a credit repair expert with 10 years of experience assisting consumers with credit relatedissues. He is also the radio host of the show Who Else Wants Better Credit on blog talk radio everyTuesday at 7:30PM-PST.</p>
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How to Get Out of Debt and Stay Out of Debt Out of... · How to Get Out of Debt and Stay Out of Debt…