subject: Vital Techniques For Getting Debt Help [print this page] Worrying about money and impending debt can feel overwhelming. Does this sound familiar? If so, read on to find out how to get debt help that will help save you from financial ruins.
Your first step is to stop acquiring new debt. Don't buy the new shoes, cut down on wants and definitely do not use your credit cards anymore. You have to be willing to make this commitment to yourself.
Begin your journey to financial health, by making a list of all of the debt you owe. This list will include all of your credit cards, store cards, medical bills, and personal loans. Get a copy of your credit report so that you do not overlook anything. Note the amount that is owed, as well as the interest rate being charged.
Keep in mind that lower interest rates will help you dig yourself out of debt quicker. This makes the case that you should try to get lower rates whenever possible. Try to negotiate down your interest rates with your lenders. You may even seek lower interest consolidation loans.
Once you've listed your debt and have tried to lower your interest rates where possible, it's time to prioritize. List your debts in order of highest interest first and work your way down in order of interest rates. This will give you a clear focus on which debt you have to eliminate first.
You'll start to tackle your list one card at a time. Make sure you stay current on all your credit cards by making at least the monthly minimum payment on each. However, your focus will be on getting rid of your highest interest rate card first. Once you've paid off your first card, you'll work your way down the list until you no longer have any debt. This debt help may sound much easier said than done. However, the hardest part of getting out of debt is making the mental commitment.
by: Alan Nottingham
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