You want debt relief. No, you desperately need help paying off your debts fast. Here's a proven method that works:
The first thing you need to do is STOP SPENDING! Once you've done that, follow this interesting method:
Make a list of all the debts you have including the creditor, the total owed on the account, the interest rate, and the minimum payment due each month.
Organize these loans based on the interest rate, listing them from highest to lowest.
Add up all of the amounts you have been paying toward your debts each month. This is the amount (or more if you are comfortable paying more) that you will be paying each month from now until ALL your debts are paid off. Here's the deal though: You MUST COMMIT to paying the same amount each month. Call this the FREEDOM PAYMENT. Write the amount down everywhere and circle and bold it. Don't fall into the "WOW, now I can buy this" mindset that got you into this mess in the first place.
Focus on paying off the debt with the highest interest rate first. Pay the MINIMUM PAYMENT DUE for ALL of the OTHER debts you have first. Then pay THE REMAINING AMOUNT of your Freedom Payment toward the debt with the highest interest rate. For example, if you've been spending an average of $450 per month (your Freedom Payment) to your 5 credit cards and your minimum payment due for the 4 lowest interest rate cards is $275, that means the remainder of $175 ($450-$275) will go to card with the highest rate. DO NOT split up the freedom payment and pay a little more than the minimum due toward each card each month. Doing this will end up being a waste of money, and it will take forever to pay off your cards.
Assuming you are able to follow these steps each month for a while, you will be able to pay off your debt with the highest interest rate very quickly and then you can focus on the card with the next highest interest rate. Repeat the process above KEEPING YOUR BUDGET AT THE FULL FREEDOM PAYMENT AMOUNT ($450 in my example case). Soon, you'll find yourself with 2 cards left, paying a minimum balance of $50 on one, and paying $400 each month on the next. Imagine how fast these final two will be paid off.
The key to this process is that you have to pay the minimum amount due (and not more) on all the cards except the one you're focusing on paying off and then continue to pay the full Freedom Payment amount toward your credit cards as you pay each card off.
This method has been proven to pay off creditors in full the quickest. Take control of your future. For more information, go to www.settlementdebtservices.org/debtservices or www.creditconsolidationonline.net/badcreditdebtconsolidation
The first thing you need to do is STOP SPENDING! Once you've done that, follow this interesting method:
Make a list of all the debts you have including the creditor, the total owed on the account, the interest rate, and the minimum payment due each month.
Organize these loans based on the interest rate, listing them from highest to lowest.
Add up all of the amounts you have been paying toward your debts each month. This is the amount (or more if you are comfortable paying more) that you will be paying each month from now until ALL your debts are paid off. Here's the deal though: You MUST COMMIT to paying the same amount each month. Call this the FREEDOM PAYMENT. Write the amount down everywhere and circle and bold it. Don't fall into the "WOW, now I can buy this" mindset that got you into this mess in the first place.
Focus on paying off the debt with the highest interest rate first. Pay the MINIMUM PAYMENT DUE for ALL of the OTHER debts you have first. Then pay THE REMAINING AMOUNT of your Freedom Payment toward the debt with the highest interest rate. For example, if you've been spending an average of $450 per month (your Freedom Payment) to your 5 credit cards and your minimum payment due for the 4 lowest interest rate cards is $275, that means the remainder of $175 ($450-$275) will go to card with the highest rate. DO NOT split up the freedom payment and pay a little more than the minimum due toward each card each month. Doing this will end up being a waste of money, and it will take forever to pay off your cards.
Assuming you are able to follow these steps each month for a while, you will be able to pay off your debt with the highest interest rate very quickly and then you can focus on the card with the next highest interest rate. Repeat the process above KEEPING YOUR BUDGET AT THE FULL FREEDOM PAYMENT AMOUNT ($450 in my example case). Soon, you'll find yourself with 2 cards left, paying a minimum balance of $50 on one, and paying $400 each month on the next. Imagine how fast these final two will be paid off.
The key to this process is that you have to pay the minimum amount due (and not more) on all the cards except the one you're focusing on paying off and then continue to pay the full Freedom Payment amount toward your credit cards as you pay each card off.
This method has been proven to pay off creditors in full the quickest. Take control of your future. For more information, go to www.settlementdebtservices.org/debtservices or www.creditconsolidationonline.net/badcreditdebtconsolidation
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