May
I hate the fact that I'm in debt, when I ask people for advice on what to do, they tell me to take out a loan! HELLO! I'm already deep in debt, I already have a loan and a credit card! That's not going to help me in any way, its why I'm in this situation already. Don't you think its stupid?
I need some real honest ways to get out of my debt, instead of running away from it and ignoring it. If i could just pay my weekly bills, or monthly bills, such as electricity, and get the credit card down, I would be happy. This is not living, and its not fun! Help me anyone?
Answer:
The ideal way is to keep track of your money so you know how much you are making and spending each month.
1st figure out how much you actually take home each month. After taxes, benefits, SS and all that stuff is taken out.
2nd figure out what bills you have each month. Gas, electric, rent/mortgage, cable, groceries, eating out, vehicle, gas for the automobile, cell phone, etc. Then figure how which ones you really need. Obviously you need most of them but could you purchase cheaper food, eat out less, drop the cable or internet, use the a/c less? Its going to be painful but you need to cut your spending to less than you make.
Answer:
1. Pay off your bills.
2. Negociate a settlement.
3. Bankruptcy.
Paying off the bills is ideal, and of course, stop charging.
Negociate a settlement, but any debt forgiven counts as income on your taxes.
Bankruptcy wipes out nonsecured debt. You would have to have enough debt to make it worthwhile.
Answer:
There's a lot of ways
1) quit living beyond your means
2) get a second or third job
3) night school to superior yourself
4) tear up the credit cards and pay them off
5) speak to consumer credit counciling
6) file bankruptcy
7) stop smoking, drinking, and partying
Answer:
The answers to your question are in a book.
“The Total Money Makeover” by Dave Ramsey.
The first half of the book is devoted to debunking a lot of myths people have about money and debt.
And the second half outlines a proven plan to get people out of debt, and stay out.
Answer:
There is only ONE way. Spend less than you make. Stop using the credit card. Tighten the belt like the majority of Americans are now doing.
Answer:
Get a Job, Make Some Money
Try to cut down on your personal expenses. Don't purchase not-needed things.
Pay it off
Easy as that
Answer:
There are a number of ways to do it… but all take work.
1) Get a second job, even a menial job that doesn't pay well. Use the income from that job to pay your debt off. I know this is not a convenient or simple way of doing it, but it's a method of getting $$ right?
2) Consolidate your debt into a low interest loan. So taking out another loan is a good idea but ONLY if it offers you an interest rate which is significantly lower than your current interest rate. OH and hopefully it's not for a long-term loan either. What many people do with credit cards is open up a new credit card account and do one of those low-interest balance-transfers. You may end up paying 3% for the transfer, but in many cases, it's 0% interest for a year. THis is a signficant savings for those with large debts. This *will* help you lower your debt. Then when the term expires, you can do another balance transfer to another card with a similar deal. Please note though… you MUST pay your CC bill on-time each single month or that 0% interest disappears and you begin paying like 30%.
3) Whatever you do… do *NOT* go to one of those debt management centers. That’ll hit your credit report in a major bad way. Don't do it.
So, i would suggest doing option #1 and suffer for a little while because in the long-run you'll be superior off. #2 helps the process of #1 in that you don't pay all your payments towards interest and can actually attack the principal.
Answer:
Make a list of all your bills. Keep this list with you at all times.
Concentrate on one bill at a time - try to pay one off absolutely and then concentrate on the next one. Maybe go for the smaller amounts first - then when the balance is zero, a sense of accomplishment is felt.
Do not use your credit cards for anything! Force yourself - it's hard sometimes, but remember that list!
You can pay your bills weekly if you'd like - do you have any type of on the web billpay with your checking account? Set up payments to agree with your paycheck schedule.
Get an extra job if that is possible - put ALL the money you make with this job towards your bills.
You must remain strong! It'll happen - trust me.
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