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Debt Help for the New Year

Created: On December 28, 2009 @ 5:43 pm In

Many people make New Year’s resolutions to lose weight, exercise more, quit smoking, or get rid of other bad habits. The start of a new year is also a good time to put a [1] debt reduction plan in place and attack it with gusto. Use the following tips to get the debt help you need.

Get Debt Counseling

If you’ve had trouble knocking out [2] credit card debt on your own, perhaps debt counseling can help. A debt counselor can help put together a strategic plan to budget and manage your money better. Debt counseling also can make you more accountable for your behavior to reach debt reduction goals.

Credit Card Debt Consolidation

Combining all your high-interest credit card debt into one loan can help lower your interest rates. Don’t consolidate your credit lines and then run up new debts. Resolve to use [3] debt consolidation to pay off credit card debt and leave those cards alone. Using your credit cards again keeps you on a neverending debt treadmill.

Debt Settlement Is an Option

Are you a good talker with strong negotiation skills? If so, you may have what it takes to get your creditors to agree to a debt settlement plan. Debt settlement is for borrowers who have gotten behind on payments. You can take money you have saved up and offer to make a lump sum payment to wipe out credit card debt for less than what you actually owe. Not all creditors go for this arrangement, but it can’t hurt to ask.

Start this next decade off right and work on a debt reduction plan that can get you free and clear from creditors for good.

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URL to article: http://www.debthelp.com/blog/2009/12/28/debt-help-for-the-new-year/

URLs in this post:
[1] debt reduction: http://www.consumerismcommentary.com/2009/12/22/getting-out-of-debt-make-that-new-years-resolution-w

[2] credit card debt: http://www.debthelp.com/blog/2009/12/02/credit-card-debt-nearing-record-default-rates/
[3] debt consolidation: http://www.debthelp.com/blog/2009/12/15/debt-consolidation-five-steps-toward-success/