Negotiate a Debt Settlement

what would be the best way to set up a budget and eliminate debt ?

Public Comments

1. If you have a checking account at a bank your bank can help you. Also if you have State Farm Insurance they have forms you can fill out and one of their agents will sit down and help you with your budget.
2. Write down how much you spend and subtract it from how much you make, that'll tell you how much you have left over for savings and such. Apply more of that left over money towards whatever payments you have untill they are paid off. You'll save more in not paying interest than you would earn if you just had a savings account. Don't spend above your means, either.
3. the best way I have found is to sign up with a budget counselor or a debt consolidater. They can help bring your payments down and have your debt paid off in usually four years. We are currently doing this for our debt and it is so easy. We sent them our account numbers and what we owed and they put it all into one monthly lump sum that we send them and they send to the companies we owe.
4. First write down all of your expenses each month.....everything. You have to know where your money is going no matter what it is for. Add all of the expenses up and see how much you are spending compared to your income. Now go through your budget and see what you can cut out if you are exceeding your income and not making headway in paying off your bills. Next: IMPORTANT: Start chipping away at those high interest credit card debt. Those debts will just eat you up. Pay more than the minimum payment. On some credit cards you can pay up to four times a month if you wish. What ever you can slap on those card debts, do so. Then pay off lesser interest rate debts. If you have a car, drive it tell it drops. You don't need to have a new one, just keep the old one maintained with regular oil changes, etc. Don't pick up anymore debt. If you own your home and have a mortgage, you can also pay more on your mortgage each month....even a few dollars (which should be marked on the check that you want this amount to be applied directly to the principal can save you tons on money in interest over the years.) Decide what you NEED and what you WANT. Those are two different things. It is amazing what we can live without and the feeling of being debt free is glorious. Make a deal with family and friends that you are committed to becoming debt free so easy does it on gifts at holidays. I am sure your family and friends will probably be relieved too. Stop magazine subscriptions and things like that. After all you can read so much over the internet. Buy your groceries at a discount store and use coupons when you can. (only if you actually buy that brand - don't buy it if you don't really use it) Limit your clothes budget - don't buy trendy clothes but rather clothes that can be worn for many seasons and they don't have to be NAME brands. Get your hair cut at a beauty school for their prices are much much less than beauty shops and they do a great job as well. You get the idea....think of where your money goes and cut the "fat" out. Check your entertainment budget and see if you really need that CD etc. Just keep plugging away, making this commitment to be debt free and you will be amazed as to what you can accomplish. Good luck to you.
5. With my help