How can I get out of debt?

Answer 1

just keep making payments and more than minimum if you can afford it

Answer 2

The first step is to take a close look at your lifestyle versus your income. Than decide which areas you can reduce with the least amount of pain. For example, do I really need cable if I am never home? Do I really need to eat out for most meals? Once you find a way to free up some money, experts disagree which is best but there is two main thoughts.

The first is to start with the smallest account and put the freed up money towards it along with the money that is already going towards it. Once it is paid off, reward yourself with a small award (dinner out, book, movie, etc) that you pay cash for. Than you go to the next smallest.

The second method is to start with the highest interest rate debt and pay that off first and reward yourself after every debt is retired.

Both methods assume that you have stopped accumulating debt and that you are living within your means again.

Answer 3

How did you get into debt? Reverse the process. Most people get into debt by over spending. If that is you, STOP over spending, turn down your lifestyle (punish yourself from indulging). Put every extra dollar towards paying off your debt. Get a better or second job. You worked hard to get into debt, and now you'll have to work to get out. CUT UP YOUR CREDIT CARDS! All of them!
Commitment will get you where you want to be. If you do what you have always done, you'll get what you always have gotten. If you want something different, CHANGE something.

Answer 4

1) Stop accumulating more debt.
2) See if you can somehow transfter your debt to accounts that have less interest.
3) See where all your expenses lie, and try to cut back on what you don't need. Give up a few things and live with the basics. Stop buying brand names and go with genetrics for example.
4) Try to pay more than the minimum that you need to pay.

Answer 5

here are some debt sources, which would help you:

What is credit-counseling service?
http://www.askaquery.com/Answers/qn492.html

Debt Consolidation - Get Out Of Debt
http://www.askaquery.com/Answers/qn1643.html

How to Hire a Debt Counselor?
http://www.askaquery.com/Answers/qn1584.html

What is Debt Relief?
http://www.askaquery.com/Answers/qn1583.html

Debt Management and Building Wealth
http://www.askaquery.com/Answers/qn1581


Online Debt Management Programs
http://www.askaquery.com/Answers/qn1580.html

Answer 6

Lilli b is absolutely correct. Take her advice. Along these lines, your earning power, if channeled correctly, will indeed reverse your debts. That is your fuel for getting out of debt. Do not (repeat: DO NOT) use plastic any more. Think in terms of cash...cash...cash; not plastic, plastic, plastic. Guess what? If you don't have the cash you can't afford it! In addition to this, separate what you need from what you want. Big difference. Wish they would teach these things in High Schools today. I guess Chemistry and Quantitative Analysis couses are more important.

Answer 7

Get a good paying job, pay off more than the minimum payment, and eat lots of Ramen noodles.

Answer 8

I found some good info here.