It is the start of 2010; it is a new year; it is your chance to make a change. Do you have debt that you would like to see eliminated? If so, make 2010 your year to see debt relief. Here is how you can do it in a few easy and simple sets.
Step # 1 – Consider Seeking Professional Help
Do you need to seek professional debt help? Technically no because you can deal with your creditors. On that same note, you will almost always find the best success when you are represented by a professional. In terms of getting your debt eliminated, professional assistance tends to result in a higher percentage of elimination. For example, lets say you decided to play the negotiation game with your creditors yourself, you might get 30% of your debt eliminated. That sounds nice, but a professional settlement company rarely settles for that little; they tend to aim for at least a 50% reduction in debt.
Step # 2 – Work on Putting All You Can Towards Your Debt
Getting a percentage of your debt eliminated is a great way to see debt relief, but this still takes time. Lets say that you had $ 50,000 in debt, you might get away only paying $ 25,000. This is good, but $ 25,000 is still a lot to owe and it could still take you years. That is why it is recommended that you cut your spending down to nothing but the basics. Eliminate or reduce anything you do not need to function day-to-day. This might free up an extra $ 300 or more a month! Put that money toward getting out of debt and you will see relief must faster. The good news is that these spending restrictions do not have to be permanent.
Step # 3 – Be Serious
Whether you make debt relief your New Year's Resolution or just a goal, be sure that you are serious about doing so. Regaining control of your finances does not have to be difficult, but it is not going to be easy either. You must take a positive and proactive approach to see the best results. If you have a bad week, like where you spend more than you should have, do not let it get you down. Brush yourself off and start over again. Debt relief will never come in 2012 or anywhere if you give up.