How to Absolutely Pay your Debts

This article will explain how to get out of debt for good. If you can get rid of those debt payments you will have a lot of money left over for food, gas and other essentials. You can do it. Focus. Behave. Take small steps and get out of debt.

Instructions

Difficulty: Moderately Easy

Things You’ll Need:

• Discipline
• Focus
• Self-Control

1. First make a list of all your credit cards. Write down the name of the creditor, the telephone number, amount due and the interest rate. If you are paying double digit interest for any card, call the bank and ask for a lower rate. Once you have all the credit cards down to single digits then move on to Step 2.
2. If you do not belong to a credit union, then join one. Their rates are lower and their service is better. Call the credit union and ask about a signature loan to consolidate all the credit cards. Transfer all the credit cards to the loan and start paying off the loan. Once this is done proceed to Step 3.
3. Now that your cards have zero balances you need to call the companies again. You want to cancel all the cards except for the two with the best rates. Since they have no balances you can negotiate a better rate. Once you pick two cards ask for the amounts to be lowered to $1000 on one card and $500 on each card. When the company gives you more credit call and tell them to keep it at the levels you want.
4. The final step is to find extra money to pay off the loan. Only use the cards you have for emergencies. In about 3 months you will start to see that you have extra money for shopping, restaurants and travel. Ask a friend or family member to hold you responsible and have them check your finances regularly. This system works you just have to try it.

Tips & Warnings

• Stop paying ridiculous interest charges and late fees to the credit card company. Behave like an adult, get out of debt and move on with your life.