20 fiery and sizzling tips to lead a debt free life

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20 FIERY AND SIZZLING TIPS TO LEAD A DEBT FREE LIFE

Devise a smart budget planCreate a budget to have

control on your finances Allocate money in

different categories to come up with extra funds

Keep the funds for making debt payments


Make a list of your debts Make a list of your

debts one by one Calculate how much you

owe on individual debtsCalculate how much

interest rate you’re paying right now


Knock the door of your creditors Notify your creditors

that you’re going through financial hardship

Offer an amount you can pay on the debts


Start saving moneyTry to save 10

percent of your income every month

Stop yourself from making impulsive purchases


Enroll into a debt settlement program

Work with a settlement company and strike out a deal

Save money in a trust account every month

Get rid of debt by paying less than what you owe


Enroll into a debt consolidation program

Consolidate your debts into a simple monthly payment plan

Make only one payment every month

Get rid of debt within 2 and 5 years


Pay off your highest debts first Make the maximum payment on the highest interest debt

Make the minimum payments on all other debts

Repeat this process till you pay off highest interest debt

Once the debt is eliminated, focus on next highest interest debt


Pay off your lowest debts first Pay the maximum amount on your debt

with lowest balance Make regular payments on other debtsOnce you get rid of lowest debt, make

maximum payment on second lowest debt Continue this process till you’re debt

free


Take advantage of a debt management plan

Use DMP to qualify for interest rate reduction

Get help in planning a suitable budget

Get less collection calls


Earn more than what you used to

Do a part-time job to increase your income

Ask your boss for a salary hike

Get a better job to change your debt situation

Earn dollars from the DebtCC community


Set up automatic bill payments

Arrange an automatic bill payment system with the bank

Don’t miss payments for this will hurt your credit score


Get financial help from your friends

Borrow small loans from your friends and relatives

Use the money to pay back your creditors


Don’t borrow more than your affordability Avoid taking out big

loans with high interest rates

Avoid using too many credit cards

Don’t co-sign on any one’s loan


Follow frugal living principles

Entertain yourself at low cost

Stay away from restaurants and luxury items

Fix things on your own


Bargain with your creditors

Negotiate with your creditors for a good payment plan

Request them to drag down the interest rate

Ask them to waive off late fees and penalties


Stop making unnecessary expenditures Curtail useless expendituresBuy only what you need


Participate in DebtCC Forums & Answers

Explain your unique debt situation in the DebtCC Forums & Answers

Find out how others have killed debts

Get expert suggestions from forum experts


Get useful resources from DebtCC Get no-obligation FREE counseling

session Read get-out-of-debt articles and watch

videos Use debt repayment calculators for free Get more than 470 financial tips and 31

sample debt letters


Get legal help through bankruptcy

File chapter 7 bankruptcy to get rid of debt within 3-4 months

File chapter 13 bankruptcy to get out of debt between 3 & 5 years


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20 fiery and sizzling tips to lead a debt free life

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