Charting Your Debt Help Course
How To Navigate Your Way To Financial Freedom
Admitting you need debt help can sometimes be akin to jumping into
shark infested waters with an open wound. The smell of blood quickly
attracts an array of predators looking to feed off your financial
misfortune. And if you're not careful, in addition to drowning in
debt, you'll soon be eaten alive
as well!
But what do you do? How do you tell the "sheep" from the "sharks in sheep's clothing"? Errrr, something like that anyway. After all, you need help getting out of debt. Hey, you wouldn't be here if you didn't. But how do you know where to turn, who to trust, or where to start?
- budgeting
- credit counseling
- consolidation loans
- credit card balance transfers
- debt management plans
- settlement and negotiation
- student loan consolidation
- bankruptcy (Chapter 7 or 13?)
- do-it-yourself programs
- or just do nothing because you are frozen in fear and self-doubt
Your options are many, and, quite frankly, overwhelming. I know. And the people and/or companies that are trying to sell you on these solutions will have convincing arguments as to why their service is the one you should choose. And you know what? Many times they are right. But just as many times you would be better off with another solution. And to make things even harder, there is no shortage of scam artists out there looking to steal even more of your money.
Right now you need information. Period. And not just "fluffy" feel good information. (You know the kind. It's what you get when someone is trying to sell you something.)
The kind that, let's face it, not many people want to let you in on, and you might not want to hear anyway. The kind that will help make it crystal clear to you exactly what you need to do and what path you need to take. In many ways, the process of choosing the "right" plan/path to suit you and your financial situation is the most important step you will take.
Right now is perhaps the most important moment in your journey to put you money problems behind you. (And it is a journey. There are no quick fixes.) The road you choose now can either lead you to financial freedom, or to financial ruin. You must choose wisely.
does not exist. The fact is, there are many paths, many options. The type of financial obligations that you have (student loans, credit card balances, taxes due), your income situation (low income, high income, retired) and any financial hardships you are facing (divorce, serious illness, job loss) are just three of the factors that can weigh heavily in the process of deciding on a solution. But take heart, your situation does have a solution. There is a perfect path just for you. It may not be the one you envisioned, and it may not be the same as someone else's, but it does exist. You just need to know how to discover it!
So start by taking a step back... then take these five steps forward. Before you know it you will be on your way to not only living debt free, but perhaps on your way to financial freedom.
1. Get The Proper Mindset - Debt reduction is a process, not an event. How long it takes you to achieve complete debt elimination depends on many factors, but it will not happen overnight, and there are no "quick fixes". Much like there is no such thing as "Get Rich Quick", there is no such thing as "Get Debt Free Quick". Anyone who tells you differently does not have your best interests at heart. Eliminating your money problems requires a plan, and perseverance to see that plan through to its completion.
2. Knowledge and Education - Like I said earlier, what you need is the cold hard truth, not empty or misleading promises. There is no shortage of people offering debt help to you. But how do their programs really work. Will they work for you? What are your chances for success? You must know this before you sign on for any program.
3. Options - Not sure what your options are? Or are you considering an option because "it sounds good" but you really don't know what you are getting into. Again, education is the key. I'll show you how to assess your own financial situation, weigh the options that make sense for you, and show you where to go for help.
4. Perseverance - Between today, "Day 1" if you will, and your "debt freedom day", there will be a lot of ups and downs. Count on it. No matter what option you choose, you will have challenges. But these obstacles will be much easier to overcome if you have a solid plan, and it is a plan that you truly believe in.
5. Beyond - What's "beyond"? Well... let's
face it,
There, I said it. Paying down debt is an uninspiring goal for most.
It's like running for 5 years (or more) just to find you are finally
at the starting line of the race. What you need is a more
inspiring plan. You need to set your financial goals beyond
just the starting line. And to accomplish this, you need to look beyond
the run of the mill options to solve your money problems.
Getting out of debt is very achievable if you assess your debt situation, learn your options, and choose the best one for you.
The term debt consolidation is used to describe two completely different debt reduction strategies. Learn the difference and which is best for you.
The truth about debt settlement revealed. Learn exactly how this debt relief option works, including fees, timelines and techniques.
If you are looking for a bad credit debt consolidation loan chances are you probably don't want to hear this. But it is the truth.
Debt loans only make sense as a debt solution tool if you can prove to yourself that you can handle one. Don't worry about the lender.
This is the first method of paying off debt that you should explore, period. It's straightforward, yet powerful, and will work for most people.
The first step in finding debt help is to learn your options. Unfortunately, just figuring out the terminology of debt relief is difficult.
Learn the advantages and disadvantages of a debt consolidation loan along with debt relief alternatives to consider.
A solid credit card debt relief plan should focus on two things. By following such a plan the elimination of credit card debts can be a reality.
How do you find the best debt consolidation company? Start with a checklist that allows you to separate the reputable companies from the sharks.
Many folks go looking for debt assistance only to end up being scammed out of their money and ending up further in debt. Learn how to avoid this fate.
Using balance transfer credit cards as a debt reduction tool can be very effective when done properly, but there are also pitfalls to consider.
Find out answers to the top four questions people have about debt settlement companies. Fees, disclosure, education, how your money is handled etc.
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