There is a lot of preoccupation with the economy these days, but politicians rarely seem to agree on any strategies to help the nation's citizens. Like many people, you may be tired of all the bickering among Democrats and Republicans. You may simply want to find a way to pay your credit card debt and other bills, but regardless of whether the government puts any policies in place to stimulate the economy and lower unemployment, it's up to you to consider various debt solutions to improve your finances.
Your debt reduction strategy
If you're swimming in debt, it may be hard to believe that there are folks out there who don't have any credit card debt. But there are many Americans who don't use credit cards and are not paying off high-interest loans. You can become one of them by putting together a debt reduction strategy and sticking with it. Getting rid of credit card debt will require some belt-tightening and other sacrifices, but you can do it.
Debt counseling works
Don't be intimidated by your mountain of debt. But if you aren't sure where to start with setting up a plan to reduce it, get with a reputable debt counseling firm to set up a budget. Don't be ashamed of needing help with debt. Working with a debt counselor can help you avoid mistakes and stay on track with paying off your bills.
Consider debt settlement
Getting creditors to agree to a debt settlement plan could kick your debt reduction plan up a notch. There is no guarantee your creditors will agree to your proposal, but it certainly can't hurt to try to negotiate a better payment plan. Be aware, however, that debt settlement usually requires a lump sum of money to pay off a percentage of the credit card debt owed, and you may end up owing taxes on any forgiven debt.