How to get out of debt easily

Nightmare

Verified member
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Getting out of debts is not actually an easy tax at all, this is because of the fact that it involves and deal with funds. Which is also known as repayment.
As a matter of fact, there isn't any other way out of a debt, other than clearing it off using money. Though you might also be able to clear it off by giving something valuable to the creditor in place of the money you owe him. One if the way to get out of a debt is also by coming into an agreement with the creditor, may be convincing him and making him understand some circumstances or problems you're facing, and then he decides to let go of the debt for you and forget about the time being.

I would advice not to rely on such a way to get out of debt. But rather, you follow or go by the below way or method.
The recommended way to get out is simply by paying off the debt through your funds. Though it might be difficult but there's a strategy for it. Which is:
By taking a part from your income every month or weekly consecutively and then adding it up to pay the creditor or organisation you owe.
 

moonchild

Active member
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To get out of debt, you have to take drastic measures and face it head on else you will still be running in circle, when you are deep in debt, you should ask yourself, what got you into this position initially, after finding out then you should find a way to fight that, after doing that, then make an intentional effort to get out of it.

Start by paying the biggest debts, this is a mind trick to motivate you to keep on paying because just like the domino effect, the more you bring them down the more easier it will be to bring the remaining down.

Live within your means, after understanding what got into debt initially, try your best to avoid it and also make efforts to live within your means by buying things you can afford.

Cultivate a habit of saving, by saving money you will be able to learn budgeted spending etc.
 

Augusta

Valued Contributor
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Getting out of debt will be very easy by one not getting into it in the first place but if you do then you should try to make the payment as soon as you can.

First thing is to find out how much that you're owing and then divide it according to how you want to make your payment whether monthly quarterly or weekly then you discuss with your lender on how you want to make the payments then you start making the payment and sticking to the repayment plan this will help you reduce the balance of your debt and the time you will making payments
 
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