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Getting Out of Debt on a Teacher's Salary
Getting Out of Debt When You Have No Money
Getting Out of Vehicle Debt
Disadvantages of Consolidating Credit Cards
Does Consolidating Credit Cards Hurt Your Credit?
Is Debt Consolidation Good?
How to Get Someone to Pay Off My Debt
Settling Debt
How to Consolidate All Debts
How to Pay Off Debts When You Don't Know Where to Pay
What Is the Best Debt Consolidation Company?
Where to Get Free Money to Pay Off Debts
When Not Paying Off Old Debts Can Hurt
About Credit Card Debt
What Is the Best Way to Consolidate Credit Card Loans?
How to Pay Down Debt
How to Get Out of Debt With Low Income
How Does a Debt Consolidation Program Work?
What Are the Pros & Cons of Debt Consolidation Programs?
How to Find Debt Cures
What Is Good Debt?
Do-It-Yourself Debt Consolidation
Do You Need Debt to Build Credit?
What Effect Will Debt Settlements Have on My Credit Report?
Can a Credit Card Company Pursue Debt After 7 Years?
What Is a Consolidation Loan?
What Types of Debt Can Be Garnished From Wages?
Getting out of debt does not have to be a long, grim march fraught with sacrifice, pain and lowered living… More
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In order to pay down debt, a person must make money, save it, and make payments on a debt. Learn about pay… More
Debt relief can come in the form of anyone taking responsibility for someone else's debt, whether it be a … More
Summary: In order to pay down debt, a person must make money, save it, and make payments on a debt. Learn about paying down debt with the debt snowball method with help from the owner of a debt negotiation company in this free video on debt and money management.
Peter Repak has been in the debt settlement business for over half a decade. He and his wife founded the Clear Financial Company with a common goal of helping others to get out of...read more
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"Hi, my name is Peter Repak. I'm the owner of Clear Financial LLC, a debt negotiation company. How to pay down debt. Well, it's pretty simple. You make money, you pay it and then you going to be out of debt. But there is something, there is an actual method for it. It's called the debt snowball. What it is, is do, is pretty simple. You take your lowest amount that you owe, the lowest credit card, the lowest balance credit card, and whatever is the minimum payment on that one, you pay that one. And whatever else you can pay on that one, you pay all whatever you have onto that one single card because your perspective, your purpose is to get out of debt. So what you do is pay to one debt, single card, as much as you can. The rest of the cards, you pay nothing but the minimum payment. There's a reason why: because if you're going to spread the minimum payments all around, you're not going to accomplish too much. What you want to do is you want to pay off the lowest amount of card first. Once you did that one, you attack the next one. Whatever the minimum payment that actually have saved off from here, what freed up from here, you attach it to the next one. So now all of a sudden, you have let's say two hundred dollars instead of just a hundred and fifty because fifty bucks from here actually had freed up. You attach it to next one, and to the next one, and to the next one. By the time you go to to the largest card, you have maybe five, six, seven hundred dollars to be able to pay off that card each and every single month. What you need for this though is discipline. You have to have discipline to be able to do this. My name is Peter Repak. I'm the owner of Clear Financial LLC, a debt negotiation company. Thank you for watching."
eHow Article: How to Pay Down Debt
Meet Mark P Cussen, CFP, CMFC eHow's Personal Finance Expert.
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