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You will only get out of debt once you make a plan and take action. Here is a 10-step process for achieving a debt-free life. 1. Assess your budget.
Lower-income households tend to have the highest credit card debt-to-income ratio, making it even more difficult to pay off debt. However, even those on a low income can take steps to get out of ...
If you're heavily in debt, you're not alone: a GOBankingRates survey found that the average American is $63,000 in debt. Whether your debt is from student loans, credit cards, mortgage loans, auto...
Get professional help: Reach out to a nonprofit credit counseling agency that can set up a debt management plan. You’ll pay the agency a set amount every month toward each of your debts.
The debt diet refers to a debt management plan made popular by a multipart series for The Oprah Winfrey Show, first airing on February 17, 2006. In the series, Oprah Winfrey teamed up with financial experts Jean Chatzky , Glinda Bridgforth and David Bach to create a step-by-step plan demonstrating how to get out of debt .
From figuring out how much you owe to using a clear payoff strategy, this step-by-step plan can help you pay off high-interest debt and become debt-free.
Debt-shifting is the practice of transferring debt from one creditor to another in order to get a lower interest rate or otherwise make it easier to repay the debt. Debt-shifting is not discussed in official DA literature, although it is discussed in an unofficial auxiliary book based on DA principles. [ 53 ]
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