What is the best way to pay off debt?

1. 88

   snobletposted 12 years ago

   What is the best way to pay off debt?
   
   If you have debt would if be better to pay it off yourself or use those debt assistants like careone or incharge.

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2. 60

   chbraswellposted 12 years ago

   Develop a budget, cut off any extras that you do not need(cable, the internet with all the bells and whistles, etc) and pay your balances bit by bit.  I recommend to ask general questions, but do not pay for services as they are not doing anything differently than what you can do.

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   1. 88

      snobletposted 12 years agoin reply to this

      I thought that maybe some services had something special that we can use for lower interest or something.

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3. 66

   peanutroasterposted 12 years ago

   Let's see.  A middle man doesn't work for free so I'd say pay it off yourself.  In the process perhaps you'll learn to live with less.  Try not eating out, ditch the coffee treat habit, stop watching TV and reading magazines that make you believe you need products to be happy.  Take up walking for exercise and something to do.

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   1. 66

      peanutroasterposted 12 years agoin reply to this

      Also don't listen to Peggy from Card Services International or any other scam phone call that you get promising to lower your interest rate.  You can negotiate directly with any company about debt.  It certainly doesn't hurt to try.

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   2. 88

      snobletposted 12 years agoin reply to this

      Really good points to save money, some companies seem to negotiate lower rates but there are those that does not seem to lower rates no matter what.  As for the third parties, most seem to charge a rate that equals to an interest rate.

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   3. 66

      peanutroasterposted 12 years agoin reply to this

      Get rid of the cell phone right away.

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   4. 88

      snobletposted 12 years agoin reply to this

      Cell phone should be useful to cancel internet and home phone all together.  Some people I have seen travel with one cell, car, and 2 set of clothing lol.  that's for real, no joke

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4. 80

   Express10posted 12 years ago

   It's best to just do it on your own, there is nothing they do that you cannot and some exist to separate you from money while you're trying to get out of debt. If you set aside enough each month and make payment on your own, you've done exactly what they'd be doing and if needed, you can ask for lower payments directly. There is no need for a middle man when paying off debt.

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   1. 88

      snobletposted 12 years agoin reply to this

      everyone has a very good point on paying off debt, and should work well too.  Many people have said that when they ask for lower rates they were told they can't get it for some reason.  And for some reason the middle man can but not all the time too.

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5. 78

   alancaster149posted 12 years ago

   I don't know whether you have debt agencies in the States, but once you contact them they will contact your creditors - for a montly fee - and ensure you don't get threatening letters. Worth it for peace of mind.

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   1. 88

      snobletposted 12 years agoin reply to this

      That's what many people I was asking was saying also but I guess it also depends on the amount too.

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