When it comes to getting out of debt you need to make a plan. Just like any other goal in life, you need to create a strategy and put it into action.
First and foremost, you need to make a conscious decision to stop borrowing money. Each time you borrow money you are increasing your debt and only making it harder to pay down what you already have. Make that decision right now, and then make a plan to pay what you owe.
Next, is to make a list of the creditors you owe money to, the amounts, and the day of the month the payment is due. It helps to have all the information in one spot so when it comes to paying bills you can determine which ones need to be paid first and how much money you can allocate to each debt each month.
After you have all of your information in once place you can look at the interest rates of each creditor. It makes sense to work on paying the highest interest debt off first because it is costing you the most money.
If you pay the minimum on the other debts that you can allocate all of your extra money to the debt you are focusing on getting rid of. Once that it paid off you can put all the of the money that was allocated for the debt already paid off and then add that amount plus the minimum amount you have been paying on the next. It is like a waterfall, just keep pouring all of that money into the next until you have paid them all off.
If you find yourself already too far in debt that you can not climb out of it on your own, then Cain and Daniels is here to help. We will negotiate with your creditor and work out a payment plan that works for you. We have 20 years experience with negotiating debt and getting your business back on track where it needs to be.
You will always know your settlement amount before you hire us to represent you.