What's the safest, cheapest, and quickest way to get out of debt?

Answer 1

Step 1. Prepare a budget. You have to be sure you are spending less than you earn.
Step 2. List all debts including amount owed, minimum payment, and interest rate.
Step 3. Pay at least the minimum on all accounts every month.
Step 4. Apply remaining funds the the highest rate debt.
Step 5. When one debt is paid off, apply that payment to the next highest rate debt.

If necessary get a second income until you can pay down debt.

Answer 2

O.k., first cut up all your credit cards. Then pick the one with the HIGHEST interest rate and pay that one off first. By this, you have to pay more than the minimum balance. Then start on the next credit card. While you are paying more on the one, pay minimum on the others. Only buy what you can PAY CASH FOR!!!! Do a budget to see your debt/income ratio. You can do this yourself. You do not need to pay a credit counselor.
Bankruptcy should definitely be the LAST CHOICE. It will ruin yor credit for 7-10 years. Trust me on this. I work in this field. Call your creditors too. They would rather hear from you then not. Some may be willing to work out a plan for you to pay them off.
Good Luck and don't rack up anymore debt.

One more thing---Watch out on DEBT Consolidation sometimes you get screwed on that too.

Answer 3

If it is credit card debt, cut up all cards except one for emergencies.
Pay at least the minimum balance each month; pay the most you can.
Do not use a credit card for milk, bread, pizza, etc. You'll be paying next month, or later, long after it's digested.
Don't buy anything extra for awhile. Use any extra money for paying down the debt.
Set a time goal of when you'd like to be out of debt.

Answer 4

wow

If you don't care about ever getting credit in the future, you can declare bankruptcy (although the law has changed some recently). Otherwise you have to pay it off. No other legal ways, except perhaps if you testify against the mob and enter the witness protection program, or happen to win the lottery.

Answer 5

2 ways to do that.
1. Don't go into debt
2. Pay your debts

Answer 6

get rid of all of your credit cards (this might be difficult at first). call a debt consolidation company, this will help lower your interest rates, get rid of late fees and possibly lower monthly payments while allowing you to make just one payment a month. if possible, find cheaper housing (get a roomate), don't spend money going out or eating out (cook at home) and also, if possible get a second part-time job.
good luck!!

Answer 7

refrain from getting too much stuff which are not that important .Wants is different from needs. Keep that in mind.

Answer 8

make more money, spend less

Answer 9

Stop spending!!!!!

Answer 10

kill yourself