If you have found yourself with large amounts
of credit card debt and not sure how it happened
you'r not alone. I am currently sitting in this very
real and painful situation. Regardless of the circumstances,
we are left with a huge amount of debt which is
very difficult to escape from.
of credit card debt and not sure how it happened
you'r not alone. I am currently sitting in this very
real and painful situation. Regardless of the circumstances,
we are left with a huge amount of debt which is
very difficult to escape from.
Notice I said difficult, not impossible. Once your
in this situation what are your choices? How about a
debt consolidation loan? These days credit is so tight
and interest rates for these types of loans are not
attractive.
in this situation what are your choices? How about a
debt consolidation loan? These days credit is so tight
and interest rates for these types of loans are not
attractive.
What about credit counseling or debt relief ? For some
people facing dire situations these are the best options
out there. For others merely trying to escape the chokehold
of debt these are not very good options. Be very careful if
you decide to go with a debt relief company. There are some
very good ones and some very shady ones. DO YOUR HOMEWORK!
The other downside is with debt relief the difference between
what you owe and what you settle on is often TAXABLE! The
other downside is these services often want your accounts
to be delinquent so they have leverage to negotiate a
settlement.
people facing dire situations these are the best options
out there. For others merely trying to escape the chokehold
of debt these are not very good options. Be very careful if
you decide to go with a debt relief company. There are some
very good ones and some very shady ones. DO YOUR HOMEWORK!
The other downside is with debt relief the difference between
what you owe and what you settle on is often TAXABLE! The
other downside is these services often want your accounts
to be delinquent so they have leverage to negotiate a
settlement.
Bankruptcy is another option, but again not a great option.
So how do you get rid of this debt? You can always get another
job but if your like most of us one job is already enough to drive
you into an early grave.
job but if your like most of us one job is already enough to drive
you into an early grave.
The key is to find ways to make your current income go farther.
My goal here is to provide you with useful tips and information
to do just that. Here is tip #1 just hear me out for a minute.
My goal here is to provide you with useful tips and information
to do just that. Here is tip #1 just hear me out for a minute.
As soon as you can go and put 2 additional pounds of air in all four
tires of every vehicle you own.Make sure you don't exceed the maximum
tires of every vehicle you own.Make sure you don't exceed the maximum
pressure rating of the tire shown on the sidewall of the tire.
I am going to show you how this one step can help eliminate debt.
I did this and my gas mileage improved by 3 miles per gallon.
My car holds 15 gallons. I gas up once per week.
My car holds 15 gallons. I gas up once per week.
That's 45 miles a week which is about 2 gallons of fuel for my car.
Multiply that by 4 weeks that's 8 gallons of fuel at an average of $3.50
per gallon which in turn converts to $28 per month in tangible fuel savings.
Now let's say you have a credit card with $15,000 in debt on it.
Right now that's one of my cards. I found that paying the minimum
payment it will take more than 15 years to pay off. If I take $15 of
the $28 I just saved on gas and put it towards this credit card it
will be payed off in 5 YEARS and that still leaves another $13 in
your pocket!
Right now that's one of my cards. I found that paying the minimum
payment it will take more than 15 years to pay off. If I take $15 of
the $28 I just saved on gas and put it towards this credit card it
will be payed off in 5 YEARS and that still leaves another $13 in
your pocket!
I will continue to bring you other useful tips in this blog so stayed
tuned! Please take the time to pass this on to any of your friends or
family that you think could benefit from this information.
tuned! Please take the time to pass this on to any of your friends or
family that you think could benefit from this information.
I would love to hear your feedback as well as any tips you have that
you would be willing to share. Let's all help each other out of debt!
you would be willing to share. Let's all help each other out of debt!
You will notice various links on this blog page. I posted these here
because I felt they were relevant to this discussion. Most of the
information offered in these links isn't free but most of it is very
inexpensive and you might find it very useful in your fight against
debt and finding more residual income, and a better quality of life!
I encourage you to check out these links for yourself.
because I felt they were relevant to this discussion. Most of the
information offered in these links isn't free but most of it is very
inexpensive and you might find it very useful in your fight against
debt and finding more residual income, and a better quality of life!
I encourage you to check out these links for yourself.
I look forward to hearing from everyone! Talk to you soon.
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