2007-09-22 16:07:19 · 4 answers · asked by jusil p 1 in Business & Finance ➔ Credit
Self-discipline.
Organization.
A budget
Calling your creditors and work out a plan
2007-09-22 16:18:11 · answer #1 · answered by Anonymous · 1⤊ 0⤋
The first two answers are good. add to that:
Rapid debt repayment plan.
Pay off one debt at a time as quickly as possible. Stop using credit cards. I worked for a company that encouraged credit card use because people will spend more! Think about ways you can change your spending habits to buy less/save money.
Make a list of all of your debts and the minimum payments. Make more than minimum payments on the smallest debt. When the smallest debt is paid off, take the money that you were using to pay off that debt and add it to the second smallest debt to pay that off as quickly as possible. Keep doing this until everything is paid off. When you are finished paying off a debt, if it is a credit card, cut it up and cancel the card. I kept one so I can buy airline tix etc that are mandatory.
Good luck!!!
2007-09-23 10:35:06 · answer #2 · answered by glendiva1968 3 · 0⤊ 0⤋
If you have regular income, there is nothing wrong with manageable debt.
Just spend less than you make, not more, and you wont have any debt.
there is NOTHING wrong with using credit cards, just be responsible. Pay the bills in full each month and you will never pay a single penny in interest. You can even get cash back or rewards for travel, etc.
2007-09-22 19:30:49 · answer #3 · answered by CommonCents 4 · 0⤊ 1⤋
More cash transaction, less credit card.
2007-09-22 18:45:21 · answer #4 · answered by tom c 7 · 0⤊ 0⤋