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Debt Free Solutions

By Administrator 21 October, 2014

If you have noticed that you are beginning to fall behind in your creditor repayments, and your finances are starting to dwindle, you need to seek some debt free solutions before your situation gets any worse. Managing your budget and finances is not always easy, and if you do find yourself in financial trouble, there are many solutions available to help you free yourself of debt.

As soon as it becomes apparent to you that you can’t make all of your debt repayments, you should contact your creditors straight away to discuss a payment plan to help you get debt free as soon as possible. When discussing the plan, you must be realistic about what you are able to afford, so be sure to take in to account all of your living costs, so you don’t fall further into debt.

Creditors can offer you a range of debt free solutions, and will often agree to an extended period for repayment, or may settle the whole debt on a lump sum payment of only part of the debt, which will help you to be free of debt within a shorter time frame. The plan is about getting debt free, so it is important you are able to make the agreed repayments when they are due so as to not make the situation worse.

Credit card debt can add up before you realise, and the interest you are paying on the debt will only make it harder for you to get out of debt. It is important when considering your debt free solutions that you look at the minimum monthly payments on your cards. The minimum payments are usually never enough to reduce the amount of the debt that you are paying interest on, so wherever possible, try to make extra payments to your credit cards.

It is very easy to fall in to debt and often hard to recognise, so it is important that you act quickly when you do realise you are behind in payments. Consider your debt free solutions straight away to save yourself money on interest in the long term. For information on a range of solutions to help you get debt free, call us today on 1800 676 598.

We operate a 24 hour / 7 days a week advice line and calls to our hotline are confidential and if required, anonymous.