Ultimate Quick Start 2010 Debt Clearance Plan

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It's been a fast moving week for all concerned. I eventually got it out of the wife that it was me who was to blame for her unhappiness, I think it took until Monday for her to tell me. Fine, that's all I wanted to know.

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31st January 2010

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Ultimate Quick Start 2010 Debt Clearance Plan

Blog: Break Up
Posted by: Wednesday 13th January 2010, 9:40am
Last edited 13/01/2010 9:40am by

January is the year's only five week month, this report is designed to help those in debt crisis start to make headway in clearing their debts quickly and start to make a real improvement in their financial status starting today.

To start off with, here’s a way to stretch out your finances to start this new year. January is this years only 5 week month, but February is this years shortest. So if you must, access a little of February’s cash now.

The easiest way is to spend on an empty credit card then repay it IN FULL next month to avoid interest. If you’re worried that your debts are spiralling out of control, now’s the time to draw up a strict household budget. Make sure all your essentials are included in your budget, such as the rent or mortgage and all utility bills.

With immediate effect cut all out ALL luxury and non essential spending. Immediately. Make savings where possible, especially when you’re doing the weekly shop. Consider switching utility suppliers. Switch debts to cheaper suppliers where possible, for example, become what’s known as a ‘Card Tart’, switching balances to alternative, cheaper cards.

There are still a few zero percent interest deals availablem, and if you’ve got a good credit rating, then this should be an obvious step for you.

If you have alot of really expensive debts, consider moving them all onto a single low cost personal loan account. in the Uk, rates are now under ten percent for those with decent credit ratings. Look for a second part time job to raise extra income. Pay all extra cash you earn directly to pay down debts.

Making the minimum monthly payment on cards will not clear debt quickly and you obviously end up paying much higher amounts over the long term. Never take on more debt. Stop spending on all credit cards, dismiss, outright, all expensive credit offers in shops. If you have serious debt problems, seek advice immediately. I know that this is much easier said than done – and that’s from personal experience.

If you are struggling to make repayments, renegoiate the terms of your credit agreements where possible. Ignoring the problem now will store up much bigger problems later

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