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About 1 in every 3 Americans has a problem
with debt and just about 99% have had a problem with debt
at some point in their lives. Americans are now carrying $683
billion in revolving credit card debt.
Now is as good a time as any to be debt
free. Becoming free of debt is not a simple task however.
It's a little like losing weight. There are no quick fixes
or, like with weight loss, the quick fixes can end up getting
you in more trouble than you started with.
One of the ways that you can become debt
free is to pay more than the required monthly payment from
your creditors. The way some companies calculate the required
minimum payments, it could take you as long as 30 years to
pay off your original purchase. By just paying a few extra
dollars each month, you could be debt free in considerably
less time.
The first step in becoming debt free is
to know where you stand. Put all your bills in a pile. Then
list your debts in order, starting with the largest balance
first. Next to the amount, list the minimum monthly payment,
and the interest rate you’re paying on that card. Now you
will start to get an idea as to where your hard earned money
is going.
Next you may want to enlist the services
of a debt consolidation expert. Here a few good places to
start:
Debt
Connection - Use their debt savings calculator to get
a real, live quote from their website in less than 5 minutes.
If you like the new payment that their website gives you,
then a Debt Repayment Representative will contact you to discuss
your situation. You are under no obligation to use their services
by filling out their form.
Care
One Credit - Get free counseling to find out how you can
get out of debt and stay out of debt.
Credit
and Debt - Available to USA and UK residents, this debt
management and negotiation program has helped thousands to
become debt free in a very short amount of time.
Or, you may decide that the best way to
be debt free is to actually take on another debt. This new
debt will be to repay all the old debts so that you will have
one consolidated payment. A good place to go for a debt consolidation
loan is E-LOAN .
They also offer home equity loans which can be a great alternative
to debt consolidation loans since they have lower interest
rates most of the time. Other companies that can help you
are listed on our home page.
It all comes down to the choices that
you make. It would probably be a wise decision for you to
see the counsel of a qualified financial specialist before
you jump into debt consolidation program.
Copyright © 2004 Debt
Consolidation Shop
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Debt
Consolidation Shop
