Debt Elimination Companies

Debt Solutions?

Has anyone used InCharge Debt Solutions and did it help?

Public Comments

1. I never have and, from everything I've read about these kinds of services, I never will. They've been known to make your debt problems worse. Why? When you make lower payments on debt, then the payment extend to a longer period of time. That means you're paying more interest payment. Plus, they don't do this service for free, so you're paying fees on top of all the extra interest. It makes no sense, financially. If you want a debt solution that works, then go to Dave Ramsey. He has a course called Financial Peace University. You can do it at home or go to classes. Classes are usually offered a different times of the year at various churches. He also has a few books out, one, The Total Money Makeover, uses most of the material from Financial Peace University. Dave also has a daily radio program on several different radio stations nationwide. If you can tune into them, you can get some inspiration. One of Dave's big ideas that works is the Debt Snowball. List all of your debts from smallest to largest. Make only minimum payments on all debts but the smallest. On the smallest debt, pay as much as you possibly can afford. Once you've paid that off, take the money you were putting toward that debt, add it to the minimum payment for the next smallest debt and pay that off. Keep doing that until you are working on the largest of your debts. I know people who have paid off almost $100,000 in debt during and after taking Financial Peace University and applying Dave Ramsey's teaching. His advice is difficult to follow sometimes. You may need to get a second job for a while, cut back as much as possible on household expenses (Dave calls it eating rice and beans). Basically, "If you will live like no one else, later you can live like no one else."