2006-10-11 05:17:21 · 10 answers · asked by Jammie J 2 in Business & Finance ➔ Credit
If you have equity in your home, see if you can get some of that money. Then contact your creditors and tell them you are unable to pay your bills and are seeking bankruptcy (this may no longer be a viable option, though). Ask them if they are willing to take a lump sum now for less than the balance. Some may agree to this. Others may work with you to reduce your interest rate, or eliminate the rate altogether in exchange for stopping your card. These techniques will harm your credit rating, so be aware of that. Consumer Credit Counselling Services can help as well. They can get you reduced or eliminated interest rates and they will pay your bills for you out of a single check (or money order) you give them every month. WITH THE SAVINGS YOU GET OUT OF THIS START SAVING IMMEDIATELY. Change your spending habits drastically. Sell things that you don't need and use that money to pay off debt. Pile up enough savings to get you through an emergency without having to take out a loan or use a credit card - this is key. So many of our debts are emergencies that we couldn't handle on our own.
2006-10-11 05:30:34 · answer #1 · answered by Anonymous · 0⤊ 0⤋
i had a similar question and the best answer i got was:
write a list of all your debts and the dollar amounts. pay as much as you can to the smallest one, and minimum to the other ones. do this until you have the smallest debt paid off. then move on to the next smallest debt. so on and so forth.
i wrote out a budget for myself, and it looks like i should be completely out of debt within the year. good luck!
2006-10-11 05:28:14 · answer #2 · answered by Anonymous · 1⤊ 0⤋
1) Quit spending 2)Pay off high interest cards first 3)Pray for a large amount of money to land in your lap.
2006-10-11 05:24:57 · answer #3 · answered by Anonymous · 1⤊ 0⤋
work two jobs if you can.budget every penny cut down all house hold expense. pay bills on time and pay as much as you can on the balance.dont eat out! don't waste gas!
2006-10-11 05:25:31 · answer #4 · answered by tennesseemom 2 · 0⤊ 0⤋
It would depend on how much debt your in?
2006-10-11 05:19:14 · answer #5 · answered by lilley247 1 · 0⤊ 0⤋
Stop spending, fast!
2006-10-11 05:19:22 · answer #6 · answered by lindakflowers 6 · 1⤊ 1⤋
Value the future more than the present, earn more, spend less.
2006-10-11 05:25:14 · answer #7 · answered by Early Bird 1 · 1⤊ 0⤋
pay all your bills fast
2006-10-11 05:25:06 · answer #8 · answered by kittyfreek 5 · 1⤊ 0⤋
win the lottery
2006-10-11 05:19:01 · answer #9 · answered by Jenyfer C 5 · 0⤊ 1⤋
prize bond
or patience
2006-10-11 05:20:51 · answer #10 · answered by Naeem A 3 · 0⤊ 0⤋