what is best and quickest way to get rid of debt?
103918
First, cut up your credit cards.  Then, make the largest payment you can afford on the debts that you have until they are gone.  The interest will kill you!
1185190
The most important thing you can do is pay your bills on time.  After that try to reduce your outstanding debt, even if it is a little at a time.
1137482
As a generic rule of thumb, when you start your debt pay-off snowball...\n\n1.  Cut up the cards\n2.  Pay minimum payments on all but the one with the lowest balance.\n3.  On the one with the lowest-balance, pay all that you can until it's paid off, then do the same to the next one, then the next one, so on.\n\nHowever, I, personally, would do that in the order of highest interest-rate, but I make quite a bit more than my payments need, and have lots of room to flex.\n\nDo NOT consolidate, unless you can take high-interest debt into low-interest, with no transfer fees.  The goal here is to avoid throwing unnecessary money out the window, and actually making some progress.  \n\nIf you have equity in your house, you may be able to roll your CC debt into a 2nd mortgate or HELOC (home equity line of credit), that you attack as aggressively as you possibly can until paid off.\n\nIt doesn't matter where debt is, it's still debt.  The only way to get rid of it is to throw money at it as aggressively as possible.  It may take years, so be patient.\n\nSome things that can help: garage sales, selling unnecessary stuff on eBay or elsewhere, sell a car and buy a reliable used one, spend less on living, reduce other bills like cable/satellite service, etc.  You need to make your income work for you.  In fact, it may not be a bad idea to pick up a simple evening job as a 2nd, until you pull your head above water (pizza delivery, for example).\n\nI hate to be so blunt, but it may take some serious sacrifice, on your part, to get ahead.  Your income and determination are the only things that can do this.
129202
what is your debt situation? consumer debt is BAD debt (credit cards, car loans, and even student loans).\n\nGOOD debt includes mortgages and business loans (provided the business is profitable).\n\nwith your credit cards:\nfigure out which one would be paid off first if you\nonly paid the minimum each month. line up the credit\ncards in order of getting it paid off first to last.\n\npay the minimums on all the cards except the credit\ncard first in line. on the first card pay the minimum\nPLUS whatever you can come up with (at least $100). once that card is paid\noff, move to the second card. this time, take what you\nwere paying on the first card PLUS the minimum on the\n2nd card, PLUS the $100+.\n\nyou can chart this out, and see how fast you can get\nyour cards paid off once you get rolling.\n\nIMPORTANT: do NOT close the credit card accounts once\nthey're paid off.\n\nin the mean time: scale down. cancel cell phones,\ncable, magazine subscriptions, carpool to work (do you\nhave an extra car? sell it, save on insurance and\ngas), stop eating out.\n\nfastest way: refinance your house, pull money out and pay off the cards. (this method is not recommended, as it sets you up to get back in debt.)\n\nthe harder it is to get out of debt, the less likely you'll end up in debt again!\n\n:)
968889
If at all possible, go to your bank. They may be willing to give you a loan which means that you can pay your debt off with one automatic payment a month. I did this and I was amazed that they said 'yes'!\n\nOf course, this doesn't make the debt go away, you've still got to pay it back. The smart thing to do is get a grip on your finances, don't get into any more debt, and aim to pay the bank back quicker than they want you to.\n\nIf the bank isn't an option, then there's a website here with lots of information, pros and cons of debt consolidation. If you go down this route it really does pay you to do your own research and shop around.\n\nGood luck!
1088770
Pay off all your debt?
118797
Buy some furniture and pay it off on their 30/60/90 day no interst plan.\n Be sure to pay off the balance on the third payment.\n\nReally, you are young and have a lifetime to pay their pockets.  You won't have any problem getting a credit card. Ask me later how you can get out from under 20k debt.
41377
You will need less money if you spend what you have more efficently, at least temporarily.  Make a list of all your routine purchases.  Where can you tighten your belt?  Eat canned beans instead of fast foods?  Quit smoking?  Adjust your thermostat down several degrees and wear sweaters?  Car pool?  Buy shoes and clothes at the City Mission or Salvation Army stores?  Pay off credit with the highest interest rates fastest (others at minimum payment) and avoid fresh credit loans?  Make your own repairs?  Buy food in economical quantities and reduce any waste?  Reorganize debt to a lower single payment at a better interest rate?  While that is in progress, check out low paying part time work (even returning shopping carts?) that you can do when available perhaps on weekends.  Using the money to pay down debt will reduce interest payments and will be worth even more than the cash received.  Continue to look for other opportunities (even dishwasher?) and work hard at anything you do just to gain that reputation.  Remember that the boss is always right because he (she) can give you a good recommendation for a better position.  Don't argue and do give notice before moving on.  No one will ever fault you for moving up.  There is always work available for those who pull their own weight.  Best of luck.
1131773
You are paying off bills with another bill! Did you ever try Consumer Credit Counseling? I believe it's a free service and they help you reduce your payments maybe even lower your interest rate. I would try that first before you get deeper into debt.
11816
You must do it in baby steps:\n\n1. Get on a written budget. Have a baby emergency fund of $1000 in a simple savings account that you can get it quickly, if need be.\n\n2. Do your debt snowball- List all of your debts in order of what you owe least to the largest amount.  Pay off your smallest debt first putting as much as you can towards it while still continuing to pay the minimums on the rest.  When that debt is paid off, simply add that amount on to the next debt that is in line and keep going. You won't believe how fast it works when you get going with it. Sell something if you have to, but get going.\n CUT UP all of your credit cards if you have any and never do them again! Forget about the interest rates, you need positive momentum to get you going and to keep you going! it really works, did for me and many others.\nPay off all debt except for the house mortgage.\n 3. Finish your emergency fund with at least 3 to 6 months worth of expenses in it.\nThis info will get you going.  Alot of people take an extra part time job just temporarily while doing their debt snowball.  there are more steps to financial peace.  Please check out daveramsey.com, he has classes in alot of areas, and a great website and daily radio show!
78112
Well, if you are not talking about unlikely occurrences like bankruptcy, winning Lotto or getting an inheritence; the answer really depends on you and what do you call quickly. I am assuming that quickly at least means less than one year. Then that also depends on what how much debt you have compared to your income. So your question needs a little more detail.\n\nBut since I don't know your exact situation here is how I advise my clients. The following is an excerpt from my book Minimum Payment Due: 23 Ways To Get Out Of Debt, Build Wealth and Live Well:\n\nDebt Reduction Simplified \nDo not begin this program until you have your Murphy (rainy Day)Fund saved for emergencies. Next take care of your utilities or small no interest bills first. Then, start with the smallest amount you owe and work your way up to the largest. Finally commit to stop creating more debt. Cut up all your credit cards except the one for emergencies. But most importantly: \n\nDO NOT CREATE ANY MORE DEBT!! \n1. Cut your expenses and commit 10% of your income \ntowards debt reduction ($150-200 per month is a \ngreat goal) \n2. Apply that extra amount towards your debt. You \nwill pay the Minimum Payment Due on the \nsmallest bill plus the extra $150-$200. \n3. Pay the minimum towards all the rest of your bills. \n4. Once that first debt is paid off, begin to pay off the \nnext smallest debt. You are now paying the \nminimum amount due on the second debt plus the \nminimum amount due that you were paying on the \nfirst debt, plus the extra $150-$200 per month. \n5. When your first credit card is paid off, you now can \nuse that for emergencies. You may also think about \nraising the deductible on your car insurance, which \nwill reduce your payments and give you more money \ntowards debt reduction. If you have an accident \nyou can use the credit card for the deductible and \nthen pay it off as soon as possible. \n6. Continue this process all the way until your largest \ndebts. Which I assume is your car and mortgage. \nYou may want to consider not being in such a hurry \nto pay off your mortgage. After most of your consumer debt \nis retired turn your attention to saving and investing. \n7. Most people find this process will only take \nanywhere from 5-10 years. It could be even less if \nyou commit more money than the $150-200.\n  \n8. Please, please notice that although you are \ncontinually reducing your debt, the amount of money \nyou are applying to your debt does not change \nfrom month to month \n\nAfter you retire all or most of your debt:\nWith the money you were using to pay off your debt-- you \ncan now use it for your 401k plan, invest in your own business or education, put the kids through school or any of your real financial dreams.\n\nIf you (or anyone reading) would like a free e-copy of my book just email me and I will send you the adobe file. It includes a chapter that will help you estimate exactly how long it will take you to get out of debt.\n\nHope that helps!\n-U.D. mobleyonmoney@gmail.com
78054
Pay your debts on time.  Obtain a secured credit card (deposit $250 bucks into a Citibank account and get a credit card with a $250 limit that grows as you pay off your bill over time and maintain a good credit rating).  Obtain a cell phone or any other solution that reports to a credit bureau (not too many just five or so).  Always, always, always pay your bills on time.  \n\nIt really comes down to living within your means, not strapping yourself with too much debt again.  Buy a Hyundai not an Escalade if you make $25,000 per year.  Save your money at least 10% of your earnings per month.  If you want to buy a home, plan to buy it, save every penny you can speak to a mortgage broker like me to understand what you may be able to afford once your fico is in check again.  You may be able to afford a home now and not know it.\n\nYou can send me an email if you have questions simply click on my screen name for my address if needed.
7532
1. Cut them up and stop using them.\n\n2. List the balances, smallest to largest.\n\n3. Pay off the smallest debt first, as fast as you can.\n\n4. After paying the first one off, apply that payment to the second debt and pay it off as fast as you can.\n\n5. Keep repeating this process until they are all paid off.  It's called the debt snowball method.
901211
Speak to the Citizens' Advice Bureau about FREE debt advice. There are some other charities that will offer you free advice about the best/quickest way to repay what you owe but I am unaware of any organisation that will administer your debt for you or give you a consolidation loan without making some sort of charge. \n\nCAB will encourage you to look at what all your income and outgoings are and devise a strategy with you, not for you, as to how you are to pay it all back. Meanwhile, write a holding letter to your creditors telling them that you are seeking independent advice about the debt. It will only serve to stall them temporarily. \n\nWork out your priority and non priority debts. Priority debts are ones which will affect your home or your liberty and include rent/mortgage, water, gas and electric and any other loan secured against your property. Non-payment of council tax can lead to imprisonment and so is a priority debt. All other debts are non-priority. It is vital that these are paid first.\n\nDraw up an honest list of what comes in to your household and what goes out and include everything, including newspaper money and pocket money for the kids etc. Don't try to hide an amount under the heading 'Housekeeping'. Debt companies know what to expect to see under all the headings based on reasonable amounts according to your home circumstances and trying to hide amounts under ambiguous headings won't work. \n\nYou then need to write again to your creditors and include the income and expenditure form. They should then come to an agreement with you although they are not obliged to. If you go to the CAB with this information, they can help you work out payment plans for each creditor and give you a standard letter to send. It may also carry more weight with the creditors if they know CAB are involved. \n\nCreditors are not obliged to accept your suggested payment plans and will be looking for some commitment from you that you are determined to clear your debt. Can you return the cards to the company, cut up? Can you sell some of your assets? Can you take on another part-time job specifically to pay them off? Could you rent a room out in your house? \n\nThere are other options like IVAs or bankruptcy depending on how much debt you are in but these have as many cons as they do pros and are not the answer for everyone, particularly if you own a house with equity. You could speak to CAB about these options but think carefully before going down these routes. \n\nYou are right to think about alternatives to taking out more debt. There are obvious problems if you cannot keep up repayments on bigger consolidation debts especially if they are secured against your home. I don't know your own circumstances, of course, but maybe going through the debt procedures above will concentrate your mind on how you managed to get into debt in the first place, the pain of being in debt and how hard it was to get out of it which will prevent you from ever going down that road again. I know that I learned that same lesson the hard way and am steering well clear of ever going there ever again. Consolidation seems like easier options but will anyone ever learn to change their behaviour or is it just a quick fix to allow the same thing to carry on all over again? \n\nAnyway, good luck. It seems like a pit you can never climb out of but it will get easier. Promise!
324823
Establish a history of making payments on time and in full.  If you can demonstrate that you can pay off your debt in FULL each month, your credit will rise very quickly.\n\nThat is something that you want to work on asap, too, because the alternative (bankruptcy) is not a great experience!
59722
How long have you got?\n\nYou can't wipe out bad credit - no matter what the scam artist will tell you.\n\nYou get rid of your bad credit by paying all of your bills on time from now on.\n\nYou pay off all of your existing bills.\n\nYou buy only what you can afford from now on. And that means a lot of the time you don't buy stuff you want until you've got the cash in your pocket - and even then you might not buy it because you'll use that cash to pay off your bills from before.\n\nYou may be able to negotiate payment plans with some of your creditors, or go to a legitimate credit counselling agency (call you state consumer protection folks for advice) and they may be able to help - but maybe not.\n\nAvoid the scam artists that say they can get you out of debt, now! or the ones who try to get you to establish some kind of a new identity - they're just going to get you in trouble worse than you're in now.\n\nIt sucks. You can't do it overnight. And you're going to be paying inflated interest rates for a long time. Forget those 0% credit offers - you probably won't qualify for the next few years.\n\nBut you'll be better off in the long run. And you'll be a lot richer in the long run, too. How do you think rich folks get that way? They manage their money, they pay their bills, they invest in boring but consistent and safe stuff - like index mutual funds. They put all they can into things like 401k's at work.\n\nYou'll get their, but its going to take patience and slogging and not having a bunch of stuff you want. At least right now. But you can make it, if you're willing to make the sacrifice.\n\nReality bites. But you can learn to deal with it.\n\nGood luck
288201
Just take out the loans.  Debt is a wonderful motivator.