Debt Recovery Can be Easy

OK, so you are up to your head in debt. You are stressed out, it is now affecting the way you function and absorbing most of your daily thoughts. You have no idea what to do.

OK, first things first. Take a step back and try and look at things with a clear head. Your debt is manageable. If you have many bills and just can't afford them all, the first thing you should consider is a debt consolidation loan.

A debt consolidation loan will help you out by consolidating all of your debt into one monthly payment that you can afford.

Second of all, figure out what is an affordable amount of money, that you can afford to pay monthly. You want this to be a fair amount of cash, however you still need to account for some money for yourself to prevent yourself from slipping further into debt.

The next step is to cut up your current credit cards. I know I've fallen into this trap on numerous occasions; I didn't cut up my credit cards and planned to use them for 'EMERGENCY ONLY'. Well, a few months roll by, and that new shirt, and that tank of gas add up to ANOTHER full credit card. If you no longer have credit cards, you can't be tempted to use them.

Finally, you need to correct the problem by killing it at the root. Start saving 5-10% of your income and start saving to purchase those things you want or need. The immediate gratification of making a purchase will wind up haunting you in the long run. Rationalize every purchase and try to take into consideration if this purchase is a rational one or one based on emotion. If it is based on emotion, think about how purchasing this item will make you feel, then imagine the stress of being in debt. If you managed to make your way out of debt at least once in your life, I'm sure your urge to purchase this item will quickly fade.

Follow this simple outline, and your journey to become debt free will be under way.

About The Author

Ryan McKenzie

For more debt recovery information check out my web site at http://www.debt-recovery-online.com

---

What Does A Bankruptcy Trustee Do?

Once you file bankruptcy a court appointed bankruptcy trustee will... Read More

The Simple $10 Debt Elimination Solution

Ask a friend what resolutions they made for 2004 and... Read More

Is Debt Negotiation Bad?

Educating yourself about the ins and outs of debt negotiation... Read More

Life on a Debt Management Program

Signing up for a debt management program is easy; it's... Read More

Bad Credit Home Loan To Get You Out Of Debt

A "bad credit home loan" can help you climb your... Read More

The ONE Law You Should Be Breaking

There is a law all smart people break.Parkinson's law.Parkinson's law... Read More

Your Ticket Out of Debt Relief

If you are in debt over your head and wondering... Read More

Is Independence Overrated?

Happy Independence Day from The Money Motivator!If you don't celebrate... Read More

Why You Should Get Out of Debt Today?

The main reason for getting out of debt today, is... Read More

Secrets to Why Debt Reduction is So Vital for Your Financial Health

Living with debt is never a good idea if you... Read More

What is Bankruptcy?

Personal bankruptcy is a legal way to give people with... Read More

Drowning in Debt? Tips and Tricks for Getting Out of Hot Water with Creditors

Do you, like millions of other Americans, feel like you're... Read More

Debt Help and Advice for the UK

At some time or another during our lives most of... Read More

Whatever You Do....Dont Save Money!

No, that's not a misprint. Even though falling interest rates... Read More

Debt Validation: Do you have to pay ?

It happens all the time. Debt collectors try to collect... Read More

Bankruptcy Abuse

Bankruptcy is little more than a smack on the hand... Read More

The Effects of Consumer Debt

Consumer Borrowing Consumer borrowing in the UK has now crashed... Read More

Stop Debt Collectors

Can you stop debt collectors ? . . .You better... Read More

The Five Most Popular Questions About Bankruptcy

WILL MY CREDITORS STOP HARASSING ME?Yes, they will! By law,... Read More

Future Secured? Oh Really?

A headline for a retirement annuities flyer declares "Future Secured!"... Read More

Learn How to Get out of Debt

Debt is becoming number one problem in the United States... Read More

Dont Drown Your Debts, Manage Them!

Are you among the millions of people who have found... Read More

How Do You Spell Debt Relief?

Of all the problems possible in a marriage, finances cause... Read More

What the Mail on Sunday Said

Anyone considering Bankruptcy may have experienced fear after reading an... Read More

Debt and Your Dreams

You may not realize what that credit card bill is... Read More

Getting Past The Idea Of Budgeting & Saving Money

I'm sure you'll agree that budgeting, saving money, and eliminating... Read More

Mr. Cheapies Frugal Budget Tips

So you feel like a hamster spinning your wheel? The... Read More

How Do I Lower My Debt Burdens?

How do I lower my debts?There are several ways of... Read More

Bankruptcy: What You Need to Know

Personal bankruptcy is a legal way to give people with... Read More

Debt Relief -- Why Most Programs Have A 75% Failure Rate

Debt consolidation, equity loans, credit counseling, debt management plans, even... Read More

Tips To Take Control Of Debt Collection

Yes, debt collection tips can help. You may think you... Read More

Worried About Debts?

Having trouble paying your bills? Getting dunning notices from creditors?... Read More

Debt Consolidation Versus Debt Negotiation

Debt consolidation versus debt negotiation are two options that are... Read More