5 responses so far ↓

• 1 alea

  if you have a home, you could get a second mortage and use that to pay off your debt. Otherwise, this is what I did. Pay the minumum on all your credit cards each month but one. Take one and put all your extra money into it. I picked the ones with the lowest balance so that way you can see results faster. You might want to check out Oprah’s Debt diet on Oprah.com. The program has tons of hints to lower your balances and get out of debt faster.

• 2 BB

  Do not go through debt relief or consolidation companies. Here is some advice to do this on your own… with help from Dave Ramsey who was in loads of debt, got himself out of it, is a financial guru, and helps others to get out of debt.

  First thing of course would be to cut up the credit cards and make a commitment to never charge again. Then follow the following plan.

  Make a list all your debts by amount you owe from smallest to largest. Then begin by paying the “most” amount you can each month to the smallest debt with the idea of paying it off quick. Then, only pay the minimum payment on the larger debts. Continue doing this every month until you have the smallest one paid off. Everytime you pay off a debt, call the company and tell them to close the account … that you paid off the debt and that you do not want to leave the account open. They will try to talk you into leaving the account open. Don’t do this as it is too convenient and you will be tempted and will sink into debt again. You then start paying the most you can on the next smallest debt in line and go on from there until you have each paid off. Every time you get any extra money, whether it be $5, $10 or more, apply it against your debt even if you have already sent in a payment. You can send in payments more than once a month. Don’t go out to eat. It’s “beans and rice, rice and beans” as Dave Ramsey always says which just means (cheap meals that you can fix at home). LOL Also do things to make money like garage sales, sell on eBay, get a second job, anything to help you get money to apply toward that debt. It’s not about obtaining the best credit score, it’s about eliminating the debt.

  You can get more help on how to accomplish this by reading and listening to Dave Ramsey and it would help to purchase his book. I just gave mine away to someone in heavy debt or I would offer it to you. He has a talk show which you can hear on line, or through his archives, or listen live on line or by radio by entering your zip code and find out what time of day his show airs. Plus there is a lot of reading material on his site to get you started. In addition, he has forums from his site to get help and advice from other people who are in debt. There are people that have followed this method with over $100,000 and lots more in debt and have gotten it paid off without going through bankruptcy and without getting some debt help company to do it for them. Dave’s website link is below.

  I hope this information helps you and you get the relief you need. Best of wishes to you.

• 3 welsh_witch_sally

  This might help, its a common sense, sensible way to work out how to tackle debts, it really worked for me,-a-common-sense-approach.525

• 4 terunaz

  hi there! Yes I am posting these links below to people with similar problems and I am getting tons of best answers, not sure which one of them is doing the trick though just take your time and go through it you are bound to find what helps you out!
  if you get any luck please don’t forget about me, hope it helped you.

• 5 ebizoutlook

  It looks like some help is desperately needed. Each debt consolidation scenario is different. I had included two articles in my resource box that you can read up. The site has wealth of other info that might give you some insights too.
  Good luck!