How To Get Diy Debt Relief

Using just a pair of scissors, pen and paper and the telephone consumers can create their own debt relief program without involving a debt help company. If you prefer to get professional advice, there are resources available that offer a free consultation with a debt advisor.

Here are three key elements to a do it yourself debt relief plan:
Scissors
You must cut up your credit cards so that you stop adding to your debt. If you choose this action, keep one or two cards open that you have maintained for the longest period of time. Choosing to have these older accounts remain open will help you rebuild your credit faster as long as you discipline your spending on them and manage them responsibly by paying the bill on time consistently.

Paper & Pen
Here is the assignment. For just one week, carry a small notepad with you and write down every single purchase you make; jot down the item and the cost. At the end of the week, tally up your log into categories to see how exactly where your money was spent. Categories could include gas, grocery, restaurant, medical, etc. Then, use this knowledge to identify ways to cut back on your spending and change your habits.

Phone
Call each of your creditors yourself. Over the phone, be specific about your situation and your need for relief. Maybe you are experiencing unexpected medical expenses or maybe you lost a job. Creditors just want to get paid and when customers call to ask for help and they have a legitimate reason, the creditors are likely to grant you a break on your interest rate or your minimum monthly payment, or maybe even both. If they say no in your initial conversation, be persistent, and call back each and every day until you get a yes response!

Some people prefer to seek out professional help with managing their debts that have gotten out of control. Take advantage of every opportunity possibile to receive free, confidential assistance through an evaluation of your debt situation from a debt reduction service like icreditsaver, for example. The service enables you to speak with an advisor in a candid, no pressure conversation to review your current finances and explore all the options which can help you to gain control over your financial destiny and get back on track with a spending plan that will eliminate your debt.

About the Author:
Nathan Randall, editor, DailyDollar Newsletter provides free daily advice on money matters plus coupons and discount codes. FYI...you can now access the DailyDollar Newsletter via iTunes podcast, YouTube video, and on Facebook and Twitter too.

Article Originally Published On: http://www.articlesnatch.com

Tags: Debt Help

, Debt Relief

, Do It Yourself

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