Eliminating Your Debt
(If you have questions, please feel free to email us from the bottom of any page. We will make every effort to assist you.)
Too much debt makes everything a lot more difficult. But here is a simple plan to reduce debt, or even eliminate debt completely. Just remember - once you reduce or eliminate your debt, do not use that as an excuse to dig another hole for yourself.
First, list all your debts, from the smallest to the largest. Now, do whatever you must to completely pay off the smallest. Hold a yard sale, get a second job - whatever. Just get that smallest debt paid off.
Now you have a little "extra" cash each month - the amount you would have paid on that debt. Combine that amount with the amount you normally pay on the next smallest debt, to pay that one off more quickly. It will not take long.
Now take both payment amounts from the two debts you have paid off and combine with the payment for the next smallest debt. Again, by applying so much more to it, this debt will also be paid off quickly.
Continue doing this until all debts are completely paid off. In some cases, people have used this to even pay off their mortgage.
Simple - but you do have to commit yourself to following through. Do not be tempted to spend that extra money on anything other than to reduce your debt.
Good luck, and let us know how this works for you.