What is the best way to get out of debt?

Answer 1

get help from a dept consolidation company there great.They go through all your bills n what money u have coming in n they figure out a monthly payment that is affordable for u n u won't get calls or harassment's from anyone n it will get rid of your dept .It might take time but u would be amazed on how fast time goes n how far 25 dollars a month get ya.Also through the dept company's they can get rid of any interest added to the bills so u r only paying for what u owe n nothing more.Good luck n hope that helps.

Answer 2

Pay double on the bills that have the higher interest rates. Or find a loan with a low fixed interest rate. (home equity is usually the best to use) Then take all your bills ( especially Credit cards) with higher interest rates and join them all together. The ones that have a 9% or lower I would leave along. Instead of taking a vacation with your income tax return.. Use it for a payment/payoff in your highest interest bill. Or use it to make double up payments if you really don't have the money.

Answer 3

Pay your bill on time. Never pay just the minimum payment always pay extra or you will never pay the bill off because of the interest accruing on the account. Course if your really in debt bad. Consumer credit counseling or something similar is always a choice you could make.

Answer 4

Budget to save at least 50% of your income.
Stop buying unnecesary rubbish.
Sell your house and use the equity to pay off your debts.
If you are in rented property, a mortgage would probably be cheaper.
Stop buying tobacco and alchohol.
Buy only the cheapest thing that are really needed. Stop watching shoping channels on cable tv.
Cancel your cable or sattelite Tv.
Getr Rid of your car and buy a bike.
Find a job that pays twice as much as you are on now,

Answer 5

The best way is to clean up all the debts and never ever having to borrow again.

Answer 6

To get out of debt, pay off you charges and do not buy anything you can not afford to pay cash for and save for emergency's.

This is from life experience.

Answer 7

spend less than you earn. pay off debts with the excess. after the debt is gone continue, but put the excess in some form of savings.

Answer 8

pay them off from the large ones first so that you can then use the overflow after paying off the large ones to pay off the smaller ones and so on.
Once you are out of debt, stay out of debt as best you can.

Answer 9

Work more and spend less. Call your credit card companies and ask them to lower your interest rate. If you threaten to leave them and transfer your balance elsewhere they will usually comply. If you get low interest rate offers in the mail move your balances to them and pay as much as you can to pay them off completely. Low interest rates are usually temporary and shoot up to much higher rates. But if you are smart and stay on top of when your rates expire, make your monthly payments you can do it!

Answer 10

im sooooo glad i screwed up my credit it saved me thousands on interest payments, i saved for everything i own and paid cash including my home i bought for 30k back in 94 before the market exploded now its worth 98k, i have achieved my goals faster but i had to suffer and live with dad a little longer when i got out of school but it paid off in the long run

added: i screwed my credit up in trade school when the credit card companies were handing out card apps like candy