Posted on October 26, 2009 at 6:01 am I'd like to share some of my strategies for getting of debt:If you can do it yourself:List down your debt type, separate the secured from the unsecured. Get their total balance as well as their interest rates. Figure out what minimum amount you can afford.Pay down down in order of priority. The ones with the highest interest rates first or the ones with the high balances first. Some do it the other way around, to pay off debt that have the lower amounts first -- to boost the moral. To have a sense of accomplishment.Get an extra job or another income generating project so you can apply more payments to your debt.Some consumers are brave enough to call their creditors/lenders to try and negotiate the payment terms, the interest rates, and even the balances...but some can't, and so they hire professional services.Anybody else want to add to these?

Posted on October 26, 2009 at 6:06 am strategies for getting of debt:Speaking of professional help. There are two popular debt relief options that a consumer can try. For debts that are below $10,000, have high interest rates, and for consumers that have a steady source of income, they can try credit counseling and its Debt Management Plan. This program is for consumers who wish to remain current in their accounts.For debts higher than $10,000 and accounts past due, it's debt settlement. The program proposes to cut the consumers total balance to more or less half.

Posted on October 26, 2009 at 6:08 am strategies for getting of debt:I agree, credit counseling or debt settlement can save the consumer from filing bankruptcy. Bankruptcy is another debt relief option -- but it should be the last resort as it is both tedious and expensive. Also, it has a such a negative impact on the consumers' credit.If the consumers debt are mostly unsecured anyway, they should avoid bankruptcy.

Posted on October 26, 2009 at 6:10 am strategies for getting of debt: credit counseling and/or debt settlement: how much do they cost?Credit counseling is non-profit but their Debt Management Plan would cost around $25/mo. after the one time set up fee.Debt settlement companies would charge 15% of your total debt amount -spread over 18 months or they will take between 20-25% of the settlement amount.

Posted on October 26, 2009 at 6:12 am Strategies for getting of debt: balance transfer

Posted on October 26, 2009 at 6:13 am Strategies for getting of debt: for unsecured debts?

Posted on October 26, 2009 at 6:15 am Getting out of debt strategies : When the consumer has already received a court notice?

Posted on October 26, 2009 at 6:16 am Getting out of debt strategies : ???When the consumer is unemployedWhen the consumer is disabledWhen the consumer passed awayWhen the consumer is in a community property stateWhen the consumer is in a no professional debt settlement service state