We Are Debt Free
We are debt free! We are debt free! That phrase is not a fantasy. It is a dream that has come true for a multitude of others, and it can most certainly happen for you too. Let me ask you a silly question. How would your life be different if you were totally debt free? Think about it for a second. Take a second to jot down a few answers. In this article, I want to share the most direct strategy to get to debt free.
Obtain A Copy Of Your Free Credit Report
If you’re serious about getting out of debt, you need to have an accurate picture of your starting point. Have you seen a copy of your credit report in a while? If not, now is your time. Take a look at it and check for accuracy. Sometimes creditors do make mistakes when reporting, that’s why you need to check for yourself.
Dispute Any Errors
Is all the information in your credit report accurate? If so, that’s wonderful. Many times, however, there are errors. You have a legal right to dispute any records on your report you question. I believe being responsible means paying what you owe, just not more than what you owe. You may need to send the credit bureau a diy credit repair letter. You may be more comfortable doing it online. Either way, dispute anything that doesn’t look right.
Create Your Plan
This is perhaps the most boring, but also the most powerful at the same time. Make a list of all of your debts, when they are due each month, along with their current balances. More than likely there is an app which does it, but I use a spreadsheet in Google Sheets. Doesn’t matter what you use, so long as you use whatever works best for you.
I learned this from Dave Ramsey. I have used this very system to become debt free myself. The idea is to pay off the lowest debt first. Let’s say the $1000 card. Next, when that card is paid off, use the payment from that card to add to the second card to pay off. Click here for more details.
Pay More Than The Minimum
This one perfectly connects with the one above. Making the minimum payments will keep you safe, but when you want to get out of debt like yesterday, pay more than the minimum.
Plans work if you work them and are consistent and committed. Debt freedom is possible for you. I promise. It will require patience, focus and perseverance.
Ask the Experts
Perhaps this should have been my number one suggestion. Even if you think you do have a grip on your financial situation, talking things over with someone who can help is still a smart move. If you need help creating a plan, they can help with that. They can help you stay accountable to your goals. They can help you create your own debt relief program.
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