The ultimate goal of anyone in debt is to be able to pay off the debt as soon as possible. However, if that is not possible, the next goal is to have the debt reduced. Debt is not bad altogether. It can even be a good thing. It can help you buy your dream house, invest in your education, accomplish you goal to travel or improve your standard of living.
However, when the level of your borrowing becomes excessive, it can lead to many problems. You may run out of money, you may not be able to deal with unexpected expenses it might restrict your ability to take part in social activities that may cause stress and lead to depression and many more.
There are ways in which you can gain control of your finances and reduce your level of debt, or the monthly cost of your debt. Below are a few debt reduce strategies that can assist you:
First is to reduce what you spend. Do not spend beyond your income. Cut down, or cut out, as many items when you restructure your debt where possible. In this way, you will have more savings to pay your off your debt or at least to have your debt reduced.
Second, increase your income by finding out if you can work overtime, ask for a salary increase, and explore other ways of increasing your income from your employer. Consider taking lodgers into your home, or raising rent in other ways from property that you own. Consider taking an additional job. Take additional job if you can.
Third, restructure your debts. If your level of debt is very high, try also to make as many savings by starting car sharing. Create a budget, and stick to it.
To reduce your debts and repayments, put as much of your debt on the mortgage. Replace existing loans with loans that have a lower interest rate. Agree on an extended repayment schedule for existing loans. Make sure you can afford new loans by producing a budget.
Fourth, restructure your assets. Assets are all the things you own. You can reduce the cost of your debt by down-sizing to a less expensive house, selling unnecessary assets, use savings, investments or cash to pay off outstanding loans.
Debt Free Solutions is a debt consulting company located in Long Beach, CA. We have been in business for 10 years. We assist Americans across the U.S. to eliminate excessive credit card and other unsecured debt.
We utilize various programs and strategies to aid them in dissolving their debt in the quickest, safest, and most efficient method possible. We also analyze the risk factor. We structure our programs to drastically minimize the risk that is inevitable with all debt elimination programs.
We offer our clients much more than a debt settlement company does. The vast majority of debt negotiation companies simply settle your debts on your behalf with your creditors- nothing more.
On the other hand, we provide free services to significantly help to minimize the risks that are involved in negotiating with your creditors.
First, we offer a free, no-risk 10 day trial service. During our free trial, we negotiate with your creditors on your behalf to lower your interest rates. Also, we research to see if you have any old debts that you are not legally liable to repay. If, for any reason, you are not completely satisfied, you simply walk away. No commitments. No contracts.
Next, we provide a comprehensive credit repair service to all our clients. This is a $795 service that is absolutely free!
Also, we offer free attorney consultation (a maximum of five sessions) in case one or more of your creditors makes any threats.
Last, we provide a written guarantee that our clients’ creditors will settle for an average of 50% or more for all of the debts they attempt to negotiate.
Our services are competitively priced- and include the above free services!