If you are looking for fast debt relief, the first thing you should do is to learn the three biggest lies about it.
Lie # 1. If you want fast debt relief you have to pay somebody to help you out.
Those who are telling you this lie either don't know any better or want to make money from your debt problem. Most people can get out of debt by themselves and don't need any help whatsoever. Everyone who is determined to become debt-free can buy How-to guides on debt elimination for under $30 each and try to take care of their debt problem.
For people who don't have self-discipline and have a problem following the plan, there are many non-profit organizations which will help them get out of debt for free.
Lie # 2. If you file for bankruptcy, all of your debts will be wiped out.
This is not true. Certain types of debts, such as student loans and child support cannot be eliminated.
Filing for bankruptcy should be your last resort, because it will do disgusting things to your credit history, and if you decide to do it anyway, make sure that at least most of your debts will be wiped out. Being bankrupt and still in debt does not really make much sense.
Lie # 3. Fast debt relief is only possible if you owe a very small amount of money.
Many people think that it will take them decades to pay off debt, but it is usually not true. For example, if you have 10 thousand dollars in credit card debt with 14% interest rate (which is pretty high), you can pay it off in less than 2 years if you put an extra $300 towards it every month.
If $300 seems like too much, get a side job, try to save money on food and vacations and stop buying things you don't really need. If you make paying off debt your primary goal, things will go much smoother and much faster.
Do you know what is the most crucial thing in order to pay off debt fast and how to choose the best debt reduction strategy?
Check http://www.live-debt-free.org/ to find out!
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