Getting Out Of Debt Homepage

Reliable How To Get Out Of Debt Information

£3.19

Debt Consolidation/Reduction? Feedback from people that have used companies for help reducing debt????
HI, I am hoping that people who have used debt consolidation or reduction companies, can give me a little feedback on what the process involves, what type of debt you started out with, how fast was it paid off? What did it do to your credit? I feel like I am drowning right now and have to think about this as an option, but feel I need more information from people that have used something similar before. Also, if you had a good experience, can you pass along contact information for the company you used? Thanks in Advance

Saving or reducing debt?
Due to a divorce and employment issues, I have $30k in credit card debt in the high 20 % interest rates. I only have $2,000 in savings. Job security is in question, should I put every extra penny into savings until the job security stabilizes, or should I take advantage of my extra cash flow by finally making a dent in my credit card debt?Due to a divorce and employment issues, I have $30k in credit card debt in the high 20 % interest rates. I only have $2,000 in savings. I have a new job that gives me an extra $2k monthly, but I don't know how permanent this job is. Should I put every extra penny into savings until the job security stabilizes, or should I take advantage of my extra cash flow by finally making a dent in my credit card debt? My credit is fair scores range 660 690 . and I know paying off debt will improve it, I'm just worried that if I put all my extra $2k month twds the credit cards, then lose my job, I won't have any money to pay my bills. My monthly expenses come out to roughly $1500.My monthly expenses come out to roughly $1500. I just got a new job that leaves me with an extra $2k monthly to either save or reduce debt.My credit is fair scores range 660 690 . and I know paying off debt will improve it, I'm just worried that if I put all my extra $2k month twds the credit cards, then lose my job, I won't have any money to pay my bills. .

Which is the better option in regards to reducing debt: debt consolidation or debt settlement (negotiation)?
There has been considerable debate between two specific debt reducing options debt consolidation and debt settlement negotiation . I'm trying to decide which is the best option to select if one wants to reduce their financial debt specifically credit card debt . I'm sure there's pros and cons to both options, however which is more effective? Please advise.

Has anyone had dealings with or tried the credit exchange for reducing debt?

Any advice on a strategy for reducing debt?
My wife and I both have substantial student loans. However, I consolidated mine at 3.5 %, but her's were consolidated at 8.25 %.Just to pay her interest is $700 month. My payment is $300, with 1 3 currently going to principle. We also have about $8,000 on credit cards at 10 % interest.Our combined income is about $100,000 annually. Right now, I pay the $350 on my loan each month, and about $1,200 on hers. At that rate, her loan should be paid off in around 8 years.I just feel like I may need to rethink this approach, as it seems like we make a lot of money, but are not getting anywhere fast against our debt.Oh, we also have about 75G's in our 401Ks and put away 10 % of our salary. We're early 30's. Any thoughts on how to reduce this debt more quickly? Some days it feels like we'd be better off defaulting and going to work at MacDonalds...lolThanks to everyone for taking the time to provide such great information. Looks like the theme is to pay off the highest interest debt first, while reducing montly expenses.I am going to stop overpaying my wife's loan until the credit card debt is gone. Also, I think it's time to track just how much money we spend on food and drink each month Time to bite the bullet.Oh yeah....wish I could reconsolidate her loan, but that will take an act of Congress. Not really fair that you can refi your house but not your student loans.

Reducing Debt -- Overestimated?
People seem to be making a huge fuss these days about reducing debt. I think it is overblown. Am I right in saying that debt is something to be critically concerned about when you have little or no assets to " back" you but another thing entirely when your assets home quiity, 401k accounts, stocks bonds, etc. far outsrip the amout of the debts. Is that a logical statement? What do people in Personal Finance think about this statament? Thank.st

Reduce Debt?
Here is the deal...I have $25,000 in student loans that are currently in deferment but running out of time , I have $10,000 in credit card debt, I just changed jobs about 6 months ago, had a baby 8 months ago, and we are getting ready to have another baby in August. I want to get rid of some of this debt, whether that be some sort or loan forgivness or whatever. I currently working for a University in the Admissions department and also getting ready to go back to school to get my MBA. Any suggestions?

Can I Reduce Debt in Collections?
I recently had the balance I owed my university sent to collections. I was taken aback to see that they had tacked on an extra $2000 onto my already existing balance. I tried calling them to explain my current situation, that as someone who just got let go not three weeks ago from my job because of old injury being reaggravated, I was no position to give them not even two cents. A family friend said there's a way to reduce that amount. Is that true?

What is more important: Education or Reducing Debt?
I'm currently working on my PhD, but lately, as my student loans skyrocket, I worry if I am making the right choice. I know you folks can't make the decision for me, but would you stay in school and worry about the debt later? Or, would you drop out, and stop the debt from continuing to accrue?When I finish my PhD, I will be close to $100K in debt.

How to Help Reduce Debt? how can we reduce debt?