Eliminate Unsecured Debt Quickly
Over 80% of Americans have personal debt. It's getting to the point that it's not a question of if someone hasn't personal debt, but just how much. But you want to shift from the majority to the minority, and get rid of your personal debt. How do you make this happen?
I realize it can seem stressful, but it is easier than you think. Here's a three step guideline to eliminate personal debt, so that you can quit feeling so pressured each time the phone rings or the mail shows up.
The 1st step that you're going to want to do if you are trying to eliminate unsecured debt is to find out exactly how much you owe. Believe it or not, many folks do not even know the exact figure of what they owe (and if this is you, do not feel terrible).
After you have figured out the amount you owe, the next step is to decide when you want to have it paid off by. It's important to set an aggressive objective, yet one that is attainable. It does not do any good to say that you're planning to pay off your $100,000 debt in one year when you only make a $50,000 annually. It would be wonderful, but realistically it's not very likely.
After you've set a goal in mind, the next thing is to figure out how much you will need to pay each month to reach that goal. Personally, I suggest paying off smaller debts first, and then moving on upwards. The reason for this is that if you are paying a monthly payment on all of your debts, every time you get rid of one, that's one less payment per month. That amount may then go to the more substantial debts, and pay everything off faster.
Given that you have a strategy in place to wipe out your credit card debt, you just have to be consistent and don't give up. It'll be gone before you know it, and you will feel a lot better. To begin with, visit the
best debt relief companies.
by: Cory D. Freedman
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