Your 5 Step Guide to Getting Debt Relief Fast

Carrying balances on multiple credit cards is stressful and expensive, and paying them off quickly can be a challenge.

Your 5 Step Guide to Getting Debt Relief Fast

The only way to get out of credit card debt is to stop creating new debt while paying off what you owe. This means you need a budget that covers all your expenses and builds in emergency savings.

Step 1: Stop Making It So Difficult to Get Debt Relief

Step 2: Create a Budget That’s Optimized for Getting Out of Debt

A budget is essential in your quest to get out of debt, no matter which debt relief option you end up using. You need to get a budget in place—written out and not just in your head.

Now it’s time to get down to the nitty-gritty of obtaining debt relief. That starts by figuring out exactly how much you owe, what it’s costing you, and where each debt stands.

Step 3: Take Stock of Your Debts and Decide on a Repayment Strategy

Step 4: Set Up a Debt Reduction Plan

This is where your budget comes in because minimum payments aren’t going to help you get out of debt quickly. Instead, you need to put as much money as possible towards paying off one debt at a time.

If you owe more than $5,000 total or you don’t have much cash on hand for paying off debt, then the strategies above won’t get you the results you want in the time you want. Instead, you need to find a debt relief option that will fit your needs, credit, and budget.

Step 5: Explore Options for Debt Relief

Debt Relief FAQ

Is Debt Relief a Good Choice? Yes. Debt relief programs can be a great solution for getting out of debt when traditional monthly payments aren’t working. 

Debt relief programs are relatively easy to qualify for, so most people qualify. For any debt relief program, you need to have at least some income to make monthly payments.

Who Qualifies for a Debt Relief Program?

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