Author Box
Articles Categories
All Categories
Articles Resources

Are You Looking For Debt Relief Tips?

February 20, 2012 | Comments: 0 | Views: 160

These days it seems more and more people are in need of debt relief, so if you are struggling with your debt, don't feel alone. If you are reading this, though, then you also know that doing nothing is the absolute worst idea. Taking steps to improve the situation, in any way you can, is a very positive approach. Consider these tips to help in your effort to find some debt relief.

Put a budget together that is realistic; one you can live with for quite some time. You can always amend it later as conditions improve. Make sure you set aside some amount, no matter how small for "emergencies".

Obviously, you will need to stop using the credit cards.

Consider the debt snowball method, versus the debt avalanche method as a way of reducing your credit card debt (or any unsecured debt).

With the debt snowball method, you start with your smallest bill paying it off as quickly as possible, then moving onto the next smallest applying what the minimum payment was plus what you were paying on the smallest debt to pay that one off as quickly as possible also. Keep doing that with next smallest debt until you can make a fairly large payment against your largest debt.With the debt avalanche method, you would do the reverse. Begin by paying as much as possible against the largest debt (with the highest interest amount) until you have conquered that. Now you have created the avalanche and can tackle the next highest debt.

If you can live with the debt avalanche method, you win out in the long run, because you have paid less interest, and also stopped that ugly debt from growing even uglier. However, it will take longer than the debt snowball, so it's largely a matter of which you can live with the best.

Another very good debt relief tip is to pay your debts off weekly or bi-monthly. Consider how interest is applied on the daily balance. By paying more often you reduce the interest owed. This applies to a home or car payment also. By paying your mortgage bi-monthly, the end result could save you as much as 30% of your total debt.

It would also be a good idea to try to negotiate with your creditors. Contact them to see how they might help you with either some kind of debt reduction, or at least a lower interest rate and easier payment terms. You may be surprised that they are willing to actually help you.

Consider ways to reduce your expenses, even temporarily in any way you can.

Consider ways to add to your revenue stream, via a part time job or maybe selling off some of your junk on an auction site like Ebay; anything to help out, right? Well, maybe not anything. Let's keep it legal. Being in debt is no joy ride, but it's nothing to be ashamed of either. Stay on the right path.

Keep the lines of communication open with your loved ones, so they understand and cooperate with your efforts. Many times, relationships suffer simply because of that lack of communication and understanding. Perhaps you could review with them the rewards of their efforts once you see some positive results. Make it a team effort. They may have some good ideas of their own in ways to contribute to the cause.

You may want to consider a debt relief program; there are many of them out there, like debt settlement and debt consolidation. Just be very careful to research any company offering debt relief. These days the Federal Trade Commission reports an unprecedented number of complaints against such companies offering debt relief help that only hurts you and makes your situation worse. There are some good companies and good solutions for almost anyone's debt situation, just be sure they are a reputable company, and have your best interest in mind.

Carla Robbins and her good friend, Mary Jeanne, run a blog site titled Debt Relief Company Reviews that offer help to those struggling in today's depressing economy. If you are having trouble coping with your debt, find information and help at You will find a wealth of information on debt consolidation and debt settlement and much more. Mary Jeanne also has a great site you might want to visit

Source: EzineArticles
Was this Helpful ?

Rate this Article

Article Tags:

Debt Relief


Debt Relief Tips


Debt Snowball


Debt Avalanche


Debt Relief Program

The 3 Month Payday Loans is most suitable options for the people who do not possess assets. There are a variety of loan options for the people who are willing to pledge assets against the cash

By: Cameron white l Finance > Personal Finance l July 09, 2013 lViews: 563

For many people, bankruptcy can make their world fall apart. The apparent loss of reputation coupled with the inability to take financial decisions can deter anyone from thinking clearly. But all is

By: noragwilt l Finance > Bankruptcy Lawyers l November 18, 2012 lViews: 304

If you are availing payday loans with monthly payments, it is easy for you to obtain quick money from online lending companies.By getting the best deals of loan, you can save money in terms of

By: Malen Cheks l Finance > Loans l November 16, 2012 lViews: 289

Loans online have become the popular source of income and people can make smart decision of taking it.Now, don’t go anywhere and sit in your home silently. Such deals would bring you money without

By: Marsh Jone l Finance > Loans l November 13, 2012 lViews: 288

Loans for the unemployed would let you feel comfortable with your unstable conditions due to jobless period.If you compare the rates of a few lenders, you would definitely get the suitable lender to

By: kelse roy l Finance > Loans l November 13, 2012 lViews: 467

By taking cash advance for bad credit, it is easy for you to improve your credit status. This loan is useful to relieve financial stress. This loan is totally free from credit verification and

By: Honard Nork l Finance > Loans l November 09, 2012 lViews: 301

If you have a bad credit score, it is certainly not good but you can rectify the situation. If you want to remove bad credit from your records, you should take a few steps.

By: Raman Kuppuswamyl Finance > Debt Reliefl July 11, 2012 lViews: 198

Becoming debt free in as little as one year is perfectly possible. Of course, this usually depends on exactly how large the total amount owed is, but in most cases, careful budgeting and

By: Frank S Walterl Finance > Debt Reliefl July 09, 2012 lViews: 156

Debt relief is the concept of forgiving someone for the payment of debts. A debt relief order is a kind of a document for the debtor to get a stand against the creditors, so he gets time for the

By: Hammad Akhtarl Finance > Debt Reliefl July 06, 2012 lViews: 171

Debt counseling was introduced in 2007 under the National Credit Act of South Africa in order to help consumers who are struggling financially. People who are over-indebted could apply for debt

By: Colin W Brazendalel Finance > Debt Reliefl July 06, 2012 lViews: 238

If you are deep in debt and need help to get out of your financial crisis, you can consider applying for debt review. But before you do, you need to understand that your dire necessity of funds is

By: Colin W Brazendalel Finance > Debt Reliefl July 06, 2012 lViews: 159

Regardless of how deep you currently are in debt, becoming debt free for life is just a matter of changing some old habits. All it takes is discipline and proper planning, even after years of

By: Frank S Walterl Finance > Debt Reliefl July 05, 2012 lViews: 189