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Written by samon
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Tuesday, 11 May 2010 13:03 |
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Debt problem -Realistic Elimination Plan
Give patience and time to get rid of all your debt problems. If you have too much debt, more than likely it accumulated over years. Therefore, do not expect it to easily disappear. There are ways to eliminate debt problem overnight such as debt settlement, bankruptcy, etc. However, these tactics are very damaging effect on your morale, personal and public life.
For example, if you have 10,000 worth of credit card debt, determine how much extra you can afford to pay on the cards each month. Attempting to payoff the balance within six months is probably unrealistic, considering you would need to make payments that total 1000 each month. Create a payoff time of 8 to 10 months. With a little sacrifice, it may be possible to reduce and ultimately eliminate the debt.
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