What is the best Debt Solution and Credit Repair help that fits your needs?
Debt Settlement Plan, Debt Consolidation , IRS and State TAX debts
For unsecured debts the best option is to pay back your credit in full by paying more each month than the minimum payment.
If your situation is such that the minimum payment is causing you challenges , or if you already gotten behind on payments then the best solutions to try a settlement with the credit card companies or your unsecured creditors through a debt relief program.
If you have tax debt, then to ensure compliance and come to the best resolution, your best option is to have a highly trained IRS Tax Relief expert identify the issues and get them resolved with the IRS.
Try to get you credit card interest rates lowered
Contact the credit card companies. If you have good credit, ask the credit card company to lower your interest rate. That will help save money every month.
If you can afford to:
- accelerate your credit card payments
- personal loans
- and even your house mortgage by paying a little extra each month
This will help speed up paying off the loan and also save you a lot of interest over the term of the loan.
Just make sure that whatever loan that you have doesn’t have a pre-payment clause that will penalize you for paying it off in advance.
Know What You Owe…
- Know what money you have coming in and how much you have going out.
- Create a budget and track all of your monies.
- Make one list for your income and another for all of your expenses.
- Be sure to include everything, including groceries, utility bills, insurance, baby sitters, entertainment, etc.
If you don’t know where you are at, you won’t know hjow to get where you want to go.
Subtract your expenses from your income. That is your leftover discretionary income to pay off debts or to put into savings. Which brings us to the next step…
Make a Plan and Plan Your Strategy
Break the total debt payments down for let’s say a three year goal to be debt free.
Divide your total debt amount ny 36 months and that is what you would need to pay monthly assuming that you do not increase your debt with more purchases.
Make your standard monthly payments on all of your cards except for the smallest one.
Make as large of a payment as possible on your smallest debt, so that you pay off your smallest one first.
Once the smallest debt is paid off this then frees up extra monies to make additional payments on the next smallest credit card debt.
Rinse and repeat until you get your largest debt paid off. If you stay focused with your eye on the prize and start by paying off your smallest debt first it will create large results later.
Good Luck – remember, determination and perseverance wins the day!
Disclosure: We are a professional review site that receives compensation from the companies whose products we review. We review each product or service thoroughly and give high marks to only the very best companies. We are independently owned and the opinions expressed here are our own.