Debt Elimination Companies

how to eliminate debt?

i have a lot of debt, from credit cards, cash advances, student loans and banks. how can i eliminate and pay off all of those debts?

Public Comments

1. Figure out which debt charges the highest interest, Stop spending and concentrate on paying that debt off while making the payments on the others. Then start on the next in the same manner. Step by step, and you will be debt free. Get out of debt, stay out of debt...be happy.
2. Start a daily journal of your spending. Jot down every bill paid and every penny that you spend. At the end of the month look over your list and eliminate the waste, such as eating out, fancy cups of coffee and all the other things you can live without. Add those dollars up and apply that extra money to the debt with the highest interest rate. As soon as one debt is clear add that payment to the next highest and just keep working it down. Getting a part time job will eliminate the debt faster. You may have to suffer a bit for a year or two but you will see light at the end of the tunnel. Cut up all credit cards but one. Lock that one away and only use for emergencies. Emergencies are life threatening events not a new TV. Good luck
3. the BEST way to eliminate debt is 1 bill @ a time; start w/ the smallest 1 & focus only on that 1 til its pd. THEN start the NEXT smallest & then work yer way UP the ladder, making regular pmts. while working on this, U CAN try negotiating w/ ppl U owe 2 lower some of what U owe, if they'll work w/ u. while yer @ it, u CAN close ALL accts & credit lines 2 stop fees. if ALL else fails, call a good lawyer. a final note 4 when yer debt free; if U keep a card 4 emergencies, don't use it unless U MUST, & keep acct open. Best Wishes and God Bless you
4. start paying off your small debt first. and don't buy things you don't need.. Good luck
5. Please don't "consolidate" your debt. You will just end up owing more money and for a longer time. You probably can not get rid of all of your debts all at once, but you may be able to do it in a (relatively) short period of time. Of course that depends on the amount of debt and your income.You can jump start your payoff by having a garage sale and selling anything that you no longer use and you should consider getting a temporary part time job until you get everything paid off. Here is a plan that will help you. If you work the plan, the plan will work for you: 1. Make a budget. Make the budget a week before you get paid. A budget is not a punishment! It is a tool which will free you from ever having to worry about money again. Put everything in your budget. Especially those annual, biannual, or quarterly bills like car registration, insurance, etc. Give every dollar you are going to bring home the name of where it is going. Add an "emergency fund" category to your budget for 25 dollars and save up until you have 1000-1250 dollars. Your emergency fund will help keep you from getting into new debt because of an emergency. If you can, set up a direct transfer to a savings account for your emergency fund. That way it moves automatically and you don't even have to worry about it. You must cut your spending and live on less than you make. 2.First get current on all of you debts and make no more late payments. Stop using your credit cards immediately. Do not take on any more debt. Credit cards are like quicksand only the death is much slower. Make a list of all of your debts in order of highest interest rate to lowest interest. Use cash only for your spending from now on. 3.Pay the minimum due on all of your debts and then put your extra money towards paying off the highest interest one first. After you get that one paid off, you put the money you were paying on debt #1 (the minimum payment and the extra payment) towards debt #2. That will pay debt #2 off faster. When that is paid off, you put all three payments towards card #3 and that one will be paid off pretty quickly. As an example: To start : Debt #1 (highest interest): minimum payment+ extra payment Debt #2 (middle interest): minimum payment Debt #3(lowest interest): minimum payment Debt #1: paid off Debt #2: minimum payment from Debt #1+ Minimum payment from Debt #2 +extra payment Debt #3: minimum payment Debt #1: paid off Debt #2: paid off Debt #3:Mimimum payment from card #1+ minimum payment from Debt #2+ minimum payment from Debt #3+ extra payment. That way, you will get them all paid off, on time, and pay the least interest. It will also help towards rebuilding your credit since you will no longer have any late payments. This works no matter how many different debts you may have. 4. After you get all of your debts paid off, add to your emergency fund until you have 6-12 months of income saved up. Put that emergency fund money into a liquid money market fund or into a Bank of America no-risk CD so that if you need the money you can take it out without penalty. 5a. When you have your emergency fund in place, add a category for "fun" to your budget. Save for a holiday, a vacation, a big screen, or dinners out, whatever goal you want. Remember to enjoy your life. 5b. When you have your emergency fund in place, start saving for your retirement. Join the 401(k) plan at work and contribute the maximum. Your employer probably matches at least part of your contribution so why give up free money? Open a Roth IRA and contribute the maximum on a monthly basis. If you start saving for your retirement now, you will probably retire a millionaire. 5c. When you have your emergency fund in place, start saving for your next car. Only buy cars, or other things that depreciate, with cash. Save up for a nicer car. That way you get the interest instead of paying the interest.
6. If you really wants to kill your all debt than you should go for Debt Consolidation option, there are many companies who are dealing into this . Even I know one company its http://www.debtreduction123.net and I found that it has very low interest compare to other companies in the market. Their service is also good, and the people working their are also smart and talented. I got release from my debt, hope you will too...just try out their consolidation services application from and procedure is free, just apply online and wait for their call.....!