Many people say they already know what’s in Debt Cures, that they’ve read it before or the information is freely available online or in the library. While this is true to an extent, you have to spend a lot of time searching for it.
That does not mean you cannot perform your own “debt cures.”
The first step to reducing your credit card debt is to reduce your interest rates. You need to make sure you are getting the best interest rates possible. To do that you need to make sure there are no errors on your credit report and that you have a good credit score. Check your credit report and score free
Once you know your credit score is good and your credit report is free of errors and that you are making your payments on time, you need to negotiate the best rates from your current credit card companies or threaten to go with other credit card companies that will offer you the best rates.
For some people debt consolidation is the way to go to eliminate debt, however not every one qualifies or needs to go that route.
What you can do is try and put all the debt onto one card and make massive payments on that one card to get your debt paid off.
I read an article in October’s Readers’ Digest and it talked about not spending any money for 30 days. Can you even imagine that? How hard would life be if you could not spend money on clothes, movies, eating out, even gas for 30 days. It wasn’t easy but the family was able to save $2,000 over the 30 days and they managed not to kill each other. One site that came in handy for the family was thriftyfun.com – a site dedicated to frugal living and saving money.
What kind of lifestyle changes would you be willing to do for a few months to save up extra money to get your credit cards paid off?
And then once you are debt free, you can live on cash and be happier without all the things you thought you needed to live happily.
Another route to take is debt settlement, there was a recent article in the Chicago Tribune about debt settlement and how one debt settlement company was able to reduce a family’s credit card debt by 50%. The only catch was that they do charge a fee. And it does terrible damage to your credit report and score. So if you have no concern about how you get out of debt other than bankruptcy then you should talk to a debt settlement company and get a free debt settlement quote.
There are several ways to eliminate debt. You can use books like Debt Cures or The Total Money Makeover to assist you but they are not required.
Have a good weekend!
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