Tips to Get out of Debt! - Intel by suzie1

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Tips to Get out of Debt! Top Tips to Get out of Debt: 1. Don’t ignore the debt situation * Make a list of all your debts – get it all off your chest! * Add in the monthly repayments and then work out how much you need to pay each month for your essentials such as the food, mortgage and utility bills. * The left out amount after paying for all the essentials will be how much you can afford to pay off each month on your remaining debts. 2. Prioritize your debts * Pay off your most pressing debts first – these are the ones that carry the harshest penalties for not paying/late paying. 3. It is good to talk * If you cannot afford to make repayments for all your debts, get in touch with your creditors and explain your situation. * They will help arrange a personal repayment plan for you. * Remember – lenders will often be open to negotiation with you. They will often reduce the higher APR's to lower APR if you request them. 4. Save money and make money * Buy only the essential stuff, go for the generic brands. * Keep a spending diary for every month and stick to it. * Plan meals, use a shopping list. 5. Pay more than the minimum amount towards credit cards/debts * Only paying the minimum each month means that the debt is spread over many years resulting in you paying more interest. * Paying more than the minimum amount on your credit card each month will knock off £100’s from the interest bill and means that you can repay the debt a lot sooner. * Always make your repayments on time 6. Switch your credit card to a 0% credit card * Transfer a higher interest credit card to a 0% credit card will save you £100’s in interest. * Check out the latest best buys for unsecured personal loans-- http://www.fastloan24.com 7. There is debt free advice available * http://www.direct-debt-management.com Direct Debt Management website gives debt free advice to UK citizens. They offer * Affordable lower monthly payments * Directly deal with your creditors * Tailor-made to suit your income and expenditure * Aim to freeze or reduce any interest charges * One single point of contact to give you expert debt help and debt guidance. Don’t give up and Good Luck!