Financial Information
What’s the best way to get out of debt sooner than the normal way? I owe around 10 thousand dollars in credit?
Question : What’s the best way to get out of debt sooner than the normal way? I owe around 10 thousand dollars in credit?
cards I need help urgently.
best way to get out of debt
Best answer:
Answer by Think before following
Look up Dave Ramsey. He has some good suggestions and ideas that really work, but they all require hard work and dedication.
He has a radio show and TV show that you may want to look up and listen to.
If your debt is in several different credit cards and loans, you may be able to reduce your interest payments by consolidating them into a single loan. However, watch out for those “debt consolidation” deals; some of them claim that they’ll pay your debts on your behalf, then fail to make the payments. Instead, get a new credit card or personal loan at a low rate, then use that money to pay off the old debts. If possible, pay the same total amount you were paying before.
Also, if your interest rate is very high (over 13%), and debt consolidation isn’t an option, you may be able to lower your interest rate by just calling your credit card company. However, if you’re behind on your payments, you may want to call an attorney to negotiate with your creditors.