Any Good Debt Solutions Anyone One Try???

Answer 1

Trim your spending on things like cable TV, cell phones, house phone, internet. Many people have the deluxe TV package, two cell phones, expensive options and long distance plans on their home phone. Get rid of what you really don't need and trim back on the others.

Shop for better deals on home and auto insurance, especially are warehouse club sites.

If you are a warehouse club member, go to their web site and look under services to see if you can save on any of the other services they offer.

Sell any extra vehicles that you can get buy without. Look around your home for stuff you don't need or don't use. Sell it on Ebay or a yard sale.

Look at other areas that you spend on, like fast food, coffee in the morning, smoking, etc. Start packing a lunch, making your own coffee in the morning, stop smoking, etc.

I've done these things over the last year, and you wouldn't believe how much I've saved by trimming back on unneeded luxuries, or even worse, unused luxuries.

Contact your credit card companies and ask for lower interest rates. Tell them about other offers you've had in the mail and ask them to match them. If you don't succeed, try again and again. Sooner or later you might get a customer service rep that will do it.

Then try and pay as much as you can every month to your debts. Pay the minimums on all, except the highest interest rate one. After that's paid off, add that payment to the next highest one, etc.

Answer 2

In order to get out of debt, you must make sure that you are spending less than you are making. To get out of debt faster, reduce the interest rates you are paying.

Here's what I would do:

1. Gather up all of my bills
2. Arrange debt from highest interest rate to lowest
3. Apply for lower interest rate credit cards (if credit is good enough) Discover has several 0% APR for 6 month offers. Transfer the highest interest rate debt first.
4. If #3 doesn't work, consolidate debt with a non-profit company.
Some of these companies charge like $800 up front, so make sure that you do your research and ask lots of questions. Remortgaging your home is usually the last thing I advise - people sometimes still get behind and lose their home. If this is the only thing that will work for you, MAKE ABSOLUTELY SURE that you can repay that debt. Otherwise visit a bankruptcy attorney.
5. Develop your budget and STICK TO IT. If your budget isn't workable after you've refinanced your debt (either with credit cards, home mortgage, or consolidation), get a second job.
While you develop your budget, make sure that you ask yourself it you really need certain things. Several of my clients have sold their boats or had large yard sales that significantly reduced their debt load. Discipline yourself to always make sure that you spend less than you make. (I realize that certain medical and car expenses are unforseeable, but most everything else in life is.)
6. Credit card companies accept as many payments as you wish to give them. So anytime you have extra money, send in another payment to the highest interest rate card.

Hope this helps!

Answer 3

Definitely don't go further into debt to try to get out of debt. Borrowing from Peter to pay Paul never works.

You have to put more money into paying your debts. If possible you need to make more than the minimum payment due. Credit cards charge WAY TOO MUCH interest and fees to continue in that cycle. (you might buy something that is on sale 50%off, but end up paying 500 times the cost of the item in interests!!

First, you need to "find" extra money to put into paying down the debt. You do this by taking a detailed look at where you spend your current cash. If you buy a coffee every morning, soda at lunch, and order out for dinner, by cutting back on this you'll have some "extra" to pay on the debts. (I don't suggest eliminating things you like, but if you make coffee at home to take to work...$2 per day times 5 days a week= $10 "extra") I now buy Dunkin Donuts ground coffee to make at home. DD coffee is still more expensive than the supermarket, but I am getting the same coffee I like, and much more of it for the money!

Answer 4

check this out:

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

Answer 5

See a financial advisor. If you have a large number of debts, be they small or large, debt consolidation may work for you. It lets you pay preset amounts to your creditors every month, taking in consideration all your normal expenses IE: rent, utilities, groceries etc.
I have not experienced this type of solution, but I know people who have used it very successfully.

Answer 6

You may wish to try meeting with a local credit counselor. They can help you find options that will help you eliminate debt while building your credit.

Sometimes, you can do these on your own. You may be eligible for a plan to reduce your interest and payments if necessary. A directory of local agencies is below.

Answer 7

financial disaster can wipe the slate sparkling, yet does not consistently. There are 2 types and stringent standards. You spent the money, you owe it, pay it. you're dealing with the outcomes of a chain of unfavorable selections you have made. Get some credit counseling, yet check out extra beneficial than one business enterprise, pick a nonprofit, and freshen up your credit, pay back your money owed. stop spending money you haven't any longer have been given, can not cope with to pay for. Get a activity or a 2d activity.

Answer 8

Pay yourself first to pay off all your debt.Do not spend until you have disposable income.Other alternative is to refinance your home to pay off all debt or get a home equity line of credit to pay off all debt.
As a last resort ,if you don not have any means,try credit counseling agency to consolidate all your debt into one bill to pay creditors.

Answer 9

Step one: pay off your largest credit card and cut it up. Repeat for remaining credit cards.

Step two: start paying off your next largest debt.

Answer 10

Do not borrow.

There is an old indian saying " Do not stretch your legs beyond the mat when you are sleeping, other wise your naked legs will be exposed to embarass you "
Do not borrow beyond your ability to pay.