10 Ways To Debt Relief

Posted by on Oct 10, 2012 in Debt Relief | 0 comments

several ways to get debt relief, which should you choose?When you are in debt you don’t really want to hear about all the ways you could have prevented that debt from happening in the first place. You are in debt, you want debt relief. Be that as it may there are many ways to find debt relief and there is a reason you should consider how you got where you are before you forge ahead.

10 Roads to Debt Relief

Bankruptcy: This is the ultimate. But it’s not a debt solution. If you don’t face facts on how you got to this debt in the first place even the ultimate debt relief of Chapter 7 bankruptcy won’t do you much good. You need to learn how to use credit wisely.

Second Job: Getting a second or third or fifth source of income may not seem possible but when you are in real debt it may be the only way.

Borrow: If you have someone you can borrow from for a quick fix that’s okay, but you have to pay this person back so you should use this option sparingly.

Payday Loans: If you are in need of some fast debt relief you can use a payday loan to get you to a clearer pasture. This isn’t really debt relief though either; it’s more a Band-Aid for a gushing flesh wound.

Work It: If your debts through credit cards you can often arrange a payment plan which will get you better rates and lower total payoff. You need to be prepared to part with this card though.

Consolidate (Credit): If you have credit cards all over the place one or more of your credit providers may be willing totake on this other debt and consolidate them into one payment. This can be helpful on interest and can focus your energy.

Consolidate (Loan): If you’re in good graces with your bank you may be able to get a debt consolation loan which beats even credit offers. Decisions like this will have you on the path to debt relief.

Invest: If you have an investment where you think you could make a fast turnaround you could try that. This is risky though; akin to gambling so tread lightly.

Cut: You need to cut back on your spending which got you in need of debt relief in the first place.

Debt Relief Service: Debt relief services can help you with many of these things in one location.

Image courtesy of www.bills.com

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