how do i get out of debt?

Answer 1

Learn to live within your means. Give up all the extras and put that money toward your debt. Concentrate on the highest interest rate debt, while paying the minimum on the rest. Pay 'em off one at a time.

Then never run up credit cards again. Always pay credit cards in full each month.

Answer 2

1. Act your wage. This means live on less than you make.

2. Stop accruing debt. No more credit cards. No more loans. You're going to live cash only. If you can't pay cash then don't buy it.

Cook instead of eating out. Basic cable instead of digital. Rent a dvd instead of going to the theater. Things like that.

3. Get yourself on a written budget. Give every dollar a name and a mission. You can control your money or your money can control you. Essentials like rent, food, utilities, etc come first. Then list your debts.

4. Save 1000 dollars into an emergency fund. There's no sense hitting your bills hard if you don't have an emergency fund. Why? Because you'll want to charge the emergency when it comes. It comes to every one.

5. List your debts smallest to largest. Make minimum payments on every thing except the smallest. Hit that one hard. Once it's paid off use that money on the second smallest. And on and on.

6. Think about a second job, or a third one.

7. Sell stuff.

Answer 3

There are a number of things that you can do to get out of debt, all of the things mentioned above are great, but for many people unrealistic. There are also a number of professional organizations that can help you get out of debt.

Your financial situation will determine which method would be best for you. Other than bankruptcy a few of the more common methods of debt relief are either credit counseling (commonly referred to as debt consolidation) or debt settlement (also referred to as debt negotiation).

Both are these have their respective pros's and con's, so it really boils down to the situation you are in as to which would benefit you more. The link below is an article about these two specific methods.

Answer 4

First of all if you are in a totoal debt then try to find a job that pays alot of money but if you are in a little debt then find a way to get some fast cash if you know what i mean like a garage sale or something like that.

Answer 5

Opt for a debt consolidation loan: The easiest method of getting a debt consolidation loan is to utilize the equity of your home. Equity of your home is calculated and determined by the difference in the amount you have paid and the amount you owe. If the amount you have paid is more than the amount due, you can use it as collateral. This allows you to borrow money on lower interest rates. Besides, you also get tax benefit on this type of loan. Consult your tax advisor before opting for this loan.
http://debt-trap.com/category/Debt-Consolidation-Basics.html

Answer 6

Man, you got to look at what user JB posted. He's 100% right. You've got to want to get out of debt. Buddy, one thing JB forgot to tell you is that you're a frikin slave! Did you know that? If you're in debt, then you're in slavery.

So, follow JB's plan. But you've got to want to get out of debt for his plan to work. Do you really want to?

Go see that link that he posted: http://www.daveramsey.com

Go see the Crown link that I posted below.

I HIGHLY RECOMMEND that you do a small group Bible study from Dave Ramsey or Crown ASAP. It costs a lil money up front, but its worth the investment.

Quit screwin around, get focused and get out of frikin debt!!!!

Answer 7

get on a written spending plan and follow it. spend less than you make. sell stuff to get money to pay debt off. get a second job... or two... work extra hours... if you have a big car payment, sell the car and get a cheap one... and stop borrowing... pay off credit cards.

Answer 8

There are things you can do from home to supplement your income. Jennifer

Answer 9

stop borrowing and stop using credit cards

Answer 10

Pay your bills.