Finding The Right Debt Solution
If you’re drowning in credit card debt there are five ways to get out of it. These solutions can help you avoid spending decades paying down your balances with minimum payments. Finding the right debt solution for your needs, budget, and credit will help you get back to financial stability faster.
Finding the Perfect Debt Solution for YOU There are five proven ways to get out of debt safely and reliably: 1. DIY Balance transfer cards Pro: Low or even 0% interest rate. Con: Not easy to get if you have a low credit score (less than 670). Debt consolidation loan Pro: Lower interest rate and one easy payment. Con: Takes a while, and you can’t always get one. 2. Credit Counseling Pro: Free debt analysis from a nonprofit credit counseling agency. Con: All credit counseling agencies aren’t created equal. 3. Debt Management Pro: Cuts your total payments by up to 30% or even 50%. Con: You can’t do it yourself. 4. Debt Settlement Pro: It damages your credit score. Con: There are settlement scams that can trick you out of money. You have to use a credible company. 5. Bankruptcy Pro: It’s a fresh start. Con: It’s really complicated – in most cases, you’ll need a lawyer and it’s expensive upfront. Our advice: credit counseling is always a good start!
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