Debt consolidation - Do you have any advice on what should I do? I am so much full in debt!?
Question:
Answer:
if someone wants to get out of debt today it is pretty easy with a debt consolidation plan
however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,
a good place to start in my humble opinion is:
http://umgarticles.atspace.com/debt-cons...
Dont take out more! How i did it was to put in writting to each debtor a breakdown including how much my income was, then deduct rent, food, ammenities, petrol, etc (everything except borrowed money like loans and cards) then you're left will a total available each month.
Divide this figure by the amount of creditors you have and send a letter with this breakdown and your offer of acceptable repayment.
By admitting you have a problem they are more generous and will accept your offer but may also reduce or remove further interest charges.
Destroy your credit cards, let as much stuff go back as you can. Try as hard as you can to insure that your credit will be so bad that no one will ever give you credit again.
Credit is a curse and you have enslaved yourself with the use of buying stuff that you did not need, with money that you did not have.
Learn from your mistakes and from now on, pay cash or do with out the junk.
Hi, first read these articles and take action. If you manage your finances better, you will seen be out of the debt trap.
Debt Consolidation - Get Out Of Debt
http://www.askaquery.com/answers/qn1643.
How to Hire a Debt Counselor?
http://www.askaquery.com/answers/qn1584.
What is Debt Relief?
http://www.askaquery.com/answers/qn1583.
Debt Management and Building Wealth
http://www.askaquery.com/answers/qn1581...
How to lower your debts?
http://www.askaquery.com/answers/qn1576.
How to reduce debt : How to lower your expenses?
http://www.askaquery.com/answers/qn1577.
debt consolidations stupid idea
Run while you still have leg`s
Debt consolidation can be a good idea but only if your are committed to reducing your debt. The trap that many people fall into is that they consolidate their debt and then keep spending money they haven't got. That's the fast route to bankruptcy.
If you're smart enough not to do this, you could find out what your options are on this independent website. Have a good look round and work out a strategy. Oh, and don't forget to cut up those credit cards! You can cut them up even if you haven't paid them off yet.
Good luck!
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