I heard about a web site for paying off debt in 3 years. Any suggestions?
366527
I have seen many such web sites, but believe that solid financial decisions are the best way to get out of debt.  Many websites attempt to charge you for their information, so I would be cautious about those.  A debt payoff website should not charge you for their services, as that will just compound the problem of being in debt.\n\nIf you are interested in paying off debt early, I recommend that you embrace the following steps:\n\n1. Stop creating new debt - no loans, no credit cards, nothing\n\n2. Identify the debt with the highest interest rate.  Contact the company and request a lower rate.  Many companies will give customers with good records lower rates to keep them as customers.  If your company will not, consider transferring the balance to a lower interest card/loan.  Be careful to avoid fees for this type of transfer and always read the fine print.  Repeat this step as necessary for all of your debt until you have the lowest rates possible.\n\n3. Take the highest interest rate debt you have at this point and apply savings you have to this debt, along with any additional money you can scrape together.  Never pay just the minimum on this debt.  Your goal for this debt is to get it paid off as quickly as you can manage.  I have found that it is often necessary to give up some luxuries while paying off your debt, but remember it will all be worth it when you get to the end of the tunnel and can enjoy all of your income as you wish.  Continue making the minimum payments on your other debts.\n\n4.  Once you have paid off the highest debt you have, apply all of the money you were using to pay off that debt to the card with the second highest rate.  Continue whittling away your debt by paying off each debt in descending order.  Apply the money from the other debts to the next debt as you pay off each loan you have.\n\n5. Once you have paid off your debts, begin a savings plan moving the debt payoff money into a savings account each month to begin working for you.  Buy items with cash in the future, using the savings that you will accumulate.\n\nBy the way, I've been debt free for 9 months now!!\n\nGood luck!
1003886
The answer is YOU!  The best way to eliminate debt is with a simple interest loan.  This allows your payment to have a bigger impact on your principal balance and not interest and fees.  A simple interest loan is commonly a secured loan such as a 2nd mortgage.  In addition you can set the term between 5 and 30 years.  The 30 year loan will give you the smallest payment, so make sure you don't have a prepay penalty.
1141786
Yes, I believe so.  The best course of action is a debt management company instead of borrowing more.  Try In Charge Debt Solutions.  A friend uses them and seems very satisfied.  They call all your creditors, get your interest rate removed or reduced and consolidate your monthly bills for a lower payment than your total is now.  They charge a small monthly fee but the pay back amount is still less than if you did nothing.  Just do an internet search on In Charge Debt Solutions and they come up along with several others.
1020490
Help people learn to manage and payoff debt.
259603
there are many excellent credit counseling agencies.  I know this one helped a friend of mine.  She thinks they were great, and was able to manage her debt, and improve her credit rating within 5 years, and that was after nearly declaring bankruptcy.
1159142
never heard of them but I recommend that you stay away from those jokers.... the best solution to all this debt settling is to make half your monthly payment twice a month... this cuts down on the exorbitant rates you get charged on your debt you have already accrued...
1061923
I used to work as a financial counselor and I was suprised how many people were misinformed when it comes to their credit. Bad credit can be a blemish on anyones credit history for a long time, and for some reason there seems to be something magical about the number 7. Supposedly their is a statute of limitations on bad credit that is supposed to disappear after 7 years. Actually that is quite further from the truth. The actual statute of limitations is 7 years from the date of your first defaulted payment. Not only that, but the debtor is not allowed to sue you in court for compensation of a bad debt after that time. It doesn't mean it disappears. So as you probably know, there are many collection agencies that make quite a profit annually collecting on these bad debts. So what does one do if it isn't collecting on it successfully? It can sell it to another collection agency, and all of a sudden your credit report can have 2-3 collection agencies all showing the same debt, but affecting your report 3 times worse! Worse yet, even if you paid a debt and it remains on your report, the only thing you can do is right a formal letter to the credit bureaus to make a notation on the account, but getting it off isn't quite that easy.\nSo the point is you should always try to stay current on your debts, and pay off any outstanding debts that you may have. If for some reason you can't, you can call the collection agency and try to come up with an amicable payoff that you are both happy with, because only they can truly remove that stain from your credit. Debtors are the ones with direct contact with the credit bureaus. \nOne last warning, NEVER pay a company to clean up your credit. This is wasted money, as anything they do, you can do also. Good luck!
155047
Most consumers do not know that if they only pay the old minimum on their credit cards it would take about 40 years to get out of debt.  The feds are doing this to help out the consumer, although it may not seem like it right now to you.\n\nI have been there, my friend, but I am now debt free (well except a mortgage and a car loan) and here is how i did it.\n\n1. Stop using your credit cards.  Cut them up.  If you cannot bear to do that then put them in a baggie filled with water and freeze them.\n\n2. Instead of paying your new minimum every month, pay half of it every 14 days.  Not twice a month, but every 14 days.  You will be amazed at how quickly your debt disappears.\n\nThe credit card companies would love to go back to the old system and do not want you to know about the pay every 14 days method so they could take more of your money.  \n\nWhen you get them paid off, then only use them as a "charge card".  The difference is that you pay that off every month and you do not pay them any interest.\n\nWork hard and get this done and you will feel so GREAT when you are debt free you may not want to rack up charges ever again.
64088
This site can do it for you but they have very high interest rates:\n\nhttp://www.beneficial.com/learn/PersonalInstallmentLoan.jst?
105812
after about seven years assuming you have cleared your debt.  However, if you are nearing the 7 year mark and it is yet unpaid, it is in some cases actually better to not pay it and let it disappear, otherwise you pay off the debt but have to wait another 7 years before it clears from your credit history statement. Nothing like waiting 6 years and paying something off and having another 7 years on your credit history saying it's paid but paid way late.
1088770
Pay off all your debt?
49919
I'd suggest the books _Total Money Makeover_ and _Financial Peace_ by Dave Ramsey.  Thousands of folks in your situation have followed his plan and are now debt free.  Check out the site:\n\nhttp://www.daveramsey.com\n\nI've no affiliation, just use the plan.\n\nGood luck.
58558
Check out http://www.daveramsey.com or http://www.mytotalmoneymakeover.com for help - these are two of the BEST sites on the web for dealing with credit card and other types of debt.
439622
try www.financemasterone.com
1178845
Go to one of these and your credit is done.  It will be the same as filing for bankruptcy when it comes to buying a home.  They can get your debt reduced, but this is how they do it.  First they tell you to stop paying your payments (there goes your credit), then when you are about 3 months behind they contact your creditors and make a deal to take less.  If you send them the money sometimes it doesn't get paid anyway.  IF you use one, be very careful.  You should just pay your debt for yourself.  A good book to read that will help you get out of debt is "Total Money Makeover" by Dave Ramsey.
27244
Either _Total Money Makeover_ or _Financial Peace_, both by Dave Ramsey.  My daughter (21, college student) took the ideas he has and is debt free, no college loans, and has already saved the cash to cover the 2006-2007 year including an off-campus apartment.  It works.\n\nGood luck.
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.