Have more than 5000 in debt?
Friday, September 3rd, 2010Do you contain more than 5k in debt? I have a method that works 100% of the time and I want to share it with you so you could pay down your debt just like I did. The first thing that you need to do if you have any debt is to eliminate all your credit cards. The reason you need to get rid of all credit cards is because it makes it extremely difficult to pay down any debt when you have something there that is tempting you to go deeper into debt.
Once you have gotten rid of your credit cards you need to receive a debt settlement. The good thing about the debt settlement is that you can sometimes settle on only paying off 50% of your debt and if that is the case you will be able to pay that debt off in less than half that time. The best way to get a debt settlement is to just call and request one and then negotiate what they give you .
Once you have done the debt settlement you need to do a debt consolidation. The reason you need to do things in this order is because you cannot do a settlement on a newly consolidated loan, lenders are not that dumb to let this happen. But if you have a loan that has been open for quite some time they are typically extremely willing to settle amounts of your debt. The major thing with debt consolidations is that you have to do them now. The reason I say do a debt consolidation now is because it’s a lot simpler to consolidate and get good loans when the banks are having trouble getting new accounts and also getting rid of long waiting balances. This is your time to act and take advantage of the banks for once, so give it your best shot.
