It is hard to reduce debt when the economy is bad and has been that way for over many years. Also when you are constantly at risk of getting sued by one and all, whether it is your fault or because of unforeseen events in your life. As well, Identity Theft is always cripping around you to be its next victim, and cause you to be legally liable for all kind of issues. the jobs that were paying well have been affected by that economy with low sales, and had to lay people off, and even close their doors. And now you are deep in debt with bigger car loans, higher mortgages, bigger child support and even bigger light bills. What do you do to reduce your debts?. What steps do you take to cut costs?. And how do you begin to regain your peace of mind and save your marriage, your kids lifestyles, and even your business?.
Well my dear reader, I am going to share with you 7 quick easy steps to reduce your debts during these very hard times, and which have never been seen since the great depression. And since legally, you never know what is around the corner, and when you will need a ton of money to spend on Lawyers to defend yourself, then you need to save as much money as possible for the unforeseen.
First step to reduce your debts is to look deep inside yourself, and to really examine your steps and even going back to study how you got here. Also look at all the stuff you have now that have put you in debt. Is it a bigger house, a nicer car, a big vacation, some new furniture and even some nice new outfits?. And on top of that, did you lose your job, or took a big pay cut?. My friend, with any problems you have to come to understand how you got there so that when you get out, you can know what the signs and trap doors are for the next time.
Second way to reduce debt is to hold an open meeting with yourself, if you are single, or with you and your family if you have one, and with your business associates if you have one. Notice I keep including " You " every time. Hold that open meeting, so that everyone involved all the way down to a 3 year old can have a chance to voice their opinion first, and also come up with ideas on how to cut and where to cut. Look at your cable, your phones, your " D S L ", your light, and your gas. And see what do you really need and what can you cut down on?. Otherwise, you will have to wait for the companies to start cutting off stuff one by one. It is always said, do what needs to be done or life will do it for you.
Third, you have to mount up enough courage to call each creditor, and I do mean each creditor from the phone company all the way to the mortgage company. Call each one and see what you can work out with them, and how low can they reduce your payments even if only for a while. Because believe me, to each creditor, paying half of what you owe is much better than getting none at all. But, you have to be conscious when you work out a repayment plan to stay with it, because this is part of the reason the economy is so bad. If big companies and banks are not collecting any monies to pay their employees, they have to close doors and let go of a lot of employees, and which will only keep the economy bad. It is all interconnected, so please do what you can.
Fourth step to reduce debt is to talk with friends and neighbors. Not so much about your personal business, but on how you all can pull together in these hard times and share costs, all for you and them to reduce debts even further. Share costs like car pooling, cut each other grass, alternate days on when big outside lights are on, alternate cooking days and invite each other over and so on. You see where I am going with this, think on more ways to cut costs.
Fifth step is to get information along with all the help you can on doing a " Loan Modification " properly. Because that is your biggest debt and most important. If you and your family do not have a place to live, you will truly go insane. You know we can always look down on the homeless and refuse to give them a dollar, but it is another thing when we are faced with their plight. You already know how everyone else will treat you if you become homeless.
Sixth easy step to reduce debt is to start looking at a second job, a part time. And that goes for your whole family if they are over 18 and not going to school full time, you have to do what you have to do. Just because you have a master ' s degree in teaching for example, do not be afraid or embarrassed to get a part time job as a security guard and boost your income. Because the economy is so bad, crime is up, so security is always needed. You can guard a warehouse in the evening and also do all your paperwork while there, a win win. It is a low stress job, not like a waiter / waitress. And because you are security, you get to meet every President of big companies, they have to give you keys and show you what to guard, and that gives you a chance to talk about your degrees. Also you can catch – up on paperwork, you can use the down times to write your memoir, or even a book to help people.
Seventh easy step to reduce debt is to join a Multi - level marketing company. Join one that is paying you at least $100 each time you sign up someone or make a sale. Not $20 or $25, because then it is worth it to give up 4 to 5 hours a week to talk to people. And when you get others to join, you make money off of their sign up or sales. Do not and I repeat do not get into a company that sells what everyone already has or can go to the store and get. Find something unique, and then you will not have to quit. Also never pay more to get in, than you can get back with your first sale or two, and that is why you can not be receiving $20 per sale. So Get that money so you can be ready for all life unexpectations. James Dazouloute