what is the best way to get out of debt?

Answer 1

1. Pay off your bills
2. Cancel anything you may be subscribed to such a cable and more.
3. Start saving money by opening a savings account.

The most important thing you should look at is having a roof over your head and food.

Answer 2

Spend less than you make. Easier said than done, I know...

If you can transfer credit cards to an installment loan with a reasonable interest rate - that helps a lot.

If not possible try to negotiate with creditors for lower interest rates if possible.

Start with the debt with the highest interest rate and pay the minimum along with any excess money squeezed out of your budget. You've gotta pay more than the minimum to make a dent in it - they call it revolving credit for a reason :-).

Then continue on that path - adding the extra money to the next highest interest debt until you are done.

The trick is to be disciplined and to not create more debt. Good luck...

Answer 3

Pay your debts.

This can be easier said that done for some people.

What you need to do is to stop spendng yourself deeper into debt.

Then try to consolidate your debt into the lowest interest instrument you can.

Pay off minimum on all of them and use whatever you have left over to pay off the highest interest one.

Then snowball your way down the list as you pay off various instruments till you are debt free.

This is assuming you aren't already behind on your payments. If you are then you may need to renegotiate with your varioue debtors.

Answer 4

if you own a house , call me, because the best way to get out of debt, is to pay what you owe at high interest(credit cards, store cards, even car loans) by refinancing your house, this trades the DEBT to a lower Rate, because the money you owe, is now owed on the MORTGAGE, and its all tax deductable interest, because its real estate, this is called DEBT CONSOLIDATION, if you owe $20,000 in credit cards, at 15%(not tax deductable) , and i refi your home, to pay that off, you now owe 20,000 extra on your house, at 6.5%(example) and its TAX deductable interest, so your mortgage payment goes up by 200$ but you also are saving the 500 to 1000 or more that you paying on your cards, so there is a net gain of 300 to 1000 a month in LIQUID cashflow, i'm really very good at what i do, and if you need some help, i would like to talk to you. if this scenario sounds like you, at all, then gimme a call, at 203-729-8900 x-111, or 203-410-4427, and i will consult with you for free, i will even put a loan togther for you, at no charge, just so you can see, what i'm talking about.
i can put a program together for you, that will, put thousands in your bank, fre up thousands in cashflow every year, and pay off your house before you retire, or die, and retire with $500,000 or more in the bank. im the real deal. call me.

Answer 5

Reading this book http://www.walmart.com/catalog/product.do?product_id=5001114 and learning how to budget your money. After that pay all your debts and build your credit back up.

Answer 6

borrow some money and pay your first debt.

Answer 7

Increase your income to exceed your bills and stop borrowing money @ high interest rates.

Answer 8

Win the lottery.
Its quick, and requires relatively little effort.

The downside is that it is a low probability occurence.

Answer 9

Simple just pay it off.

Answer 10

Pay your bills