I speak from bitter experience when I write this article, as I had to claw my way out to get out of card debt in the past. What I want to make clear is that it does not matter how much you have to repay, you must realise that there is a way to get out of serious, out of control debt. ultra k9 pro dog supplement With a easy step by step process, I will show you how to negotiate credit debt and consolidate charge card debts, so that you will see clear progress. This is how I did it, and if it works for me it can work for you! I’ve broken it down into steps so it’s easy to follow.
Settle Debt – The Current Reality
Before you start the process to get out of debt, and attempt to settle credit card debts, it’s important to understand how it all happened, so you don’t get pushed straight back into debt again! During the period of low credit card and loan rates, most of us started using debt to consume stuff as it was cheap and easy. Many of us even bought investments which we thought would go up in value, and that helped to push us into debt. Now we’re stuck and need to get out of credit card debt and desperately need to settle credit card debt.
The Cure to Get Out of Debt Slavery & How to SUPERCHARGE your debt repayments!
Step 1
Mindset change Needed to Get Out of Card Debt
First of all, you have to change your mind set. there is no point getting out of debt just to get back in again, so you are going to have to change the way you do things!
The Golden Rules to Get Out Of Card Debt:
1) Do not use debt for things you consume.
2) Use debt only for investing in assets that genuinely produce an income.
I say that again: Do not use debt for things you consume. Use debt only for investing in assets that genuinely produce an income.
You need to stop living on debt money and start living on income money, other wise you’ll get back into debt. But how you say, you’re in serious debt know and your income is smaller than your monthly commitments and you’re desperately trying to settle credit cards debts and getting nowhere. Keep reading – I reveal how here.
The reason you got into debt is you spent more than you earned, so you need to change that, by either earning more or spending less or both. I’ve written a special section on how to SUPERCHARGE your debt repayment, to kill it in LESS TIME. More on that under supercharge your debt busting.
Step 2
Cut your cards through, but don’t cut them into pieces, you’re going to need the details when calling the companies.
Step 3
Before anything else, open a spreadsheet and list all the debts you have, name of the card and with which bank. Next to that list the interest rate and how much you pay them monthly.