What is the best way to become debt free?

[gjkandb2000]

Maybe a debt consolidation loan would be your best bet, or maybe check out a few credit counselors and see what they have to offer. I found a site which I think will help you. It has a lot of useful information and links to several companies who do debt relief. Hope this helps.

[The_Crossface_Chickenwing]

Assuming that your working now, I would get a part time job and use that money to pay off your debts. It may take a while but you know what your paying and that ALL of that money is being used for that purpose.

[EMT13]

Highest interest gets paid first and then snowball your payments.Say card one you make $35 payments on, when it's paid you add that $35 to your next highest interest rate card payment.I'd also suggest you write down everything you spend money on for 2 weeks. See where your money goes. Then elimate stuff like morning coffee, fast food lunch, drinks after work, dinner in restaurants. Cook at home and bring leftovers to work for lunch. No micro then pack a cold lunch like salads and pita rolls. Skip going out to movies and malls and instead get part-time job with ALL of that money going toward those credit cards. Use coupons, save change, sell unneeded stuff on Ebay. Don't want the hassle of Ebay then have a garage sale (if you don't have a house have a joint one at your parents or friends house). Do any of your cards have a balance transfer offer of 0%? Then maybe pay off that card first and go for the balance transfer.

[iammilman2]

Commit to living frugally for 12 months --For 12 months eliminate cable TV and go to Over the Air TVFor 12 months take on a part time jobTake a weekend and have a garage sale --- getting rid of stuff you do not need and use and putting the proceeds against the debt.Commit to eating out ONLY once per month for 12 monthsConsider raising deductibles on auto ins to 1000 dollars (usually good for 150 dollars or more over a yearCall and ask for discounts on cell phone plan -- explain your situation and tell them you do not need more service and will extend your contract for a loyalty discount -- Picka bad habit and Comit to eliminating it -- smoking -- drinking -- sodas --- something and use the $$ to the debt

[elb]

Those are great answers. Note how consistent they are about knuckling down and getting through this step by step based on good planning. You can do this. A couple years out, you may be coaching someone through the same experience. Remembering how miserable it feels now is important since it can help you get through and makes it sweet when you have your financial life all buttoned up!

[Hooper6]

Go to www.budhibbs.com - It's the best and most accurate information if you bills are already delinquent. If you're still in good standing, it would depend on the kind of debt. For credit cards negotiate a lower APR with the company. You'll be surprised how often they'll do that, just ask. Start with the highest interest rate card and pay it off 2-3 times the minimum or more if possible. If you receive taxes back use all of it to pay off or down your cards, especially high interest rate cards.It's not a good idea to use one of those debt consolidation places they often hurt your credit. You can always get a personal loan from your bank and pay them all off and just have the one payment to the bank.

[KEVIN C 208]

only buy what you realy need. most non brand products are good. discipline with money is a must

[deedee]

friend of mine recommends talking to citizens advice people and ask for budgeting help

[andrew 69]

write all your outgoings down then your income for the month.see what you can lose in the outgoings and how much you can afford to pay off your debt in one month at a time.i always find adding a little more too the outgoings to keep ahead,things like petrol,shopping,clothes because these items are what you could save more on than things like the mortgage/rent.you can do it,good luck.

[beaniexbag]

stop buying unnecessary things when you dont have the money.