Unsecured Debt Relief – How To Eliminate Unsecured Debt For Good

If you are like many Americans, you are probably drowning in a sea of unsecured debt

. Debt that seems to keep piling up month after month and year after year. But don't worry, with this article, I am going to give you step by step plan on how to eliminate unsecured debt forever.

First you need to get serious. You see, many people say they want to eliminate their unsecured debt but their actions say otherwise. So before you can ever get out of debt you are going to have to make a decision to do whatever it takes to get it out of debt. I will warn you now, you might have to sacrifice a few things such as eating out all the time in order to get rid of the debt. But if you focus and stick with the plan, you will be successful.

The next thing you must do is take inventory. Write down every unsecured debt you have. Write them down in order from the smallest amount to the largest amount. You also want to write down the amount due each month and when it is due. You are going to start with the smallest bill first. Once you pay that off you will move to the next bill. You are going to be doing what is called the debt snowball. But before I explain what that is lets talk about how you can add an extra $100 towards bills each and every month.

As I said you will have to make some sacrifices during this time so you can get out of debt quicker. Remember this is only temporary. Here are 4 things you can do to get some extra money to pay off your unsecured debt.

1. Stop eating out

2. Get a basic cell phone plan

3. Get a basic cable plan - you really don't need 300 channels

4. Work a couple of hours of overtime each week if you can

Doing those 4 things should help you find an extra $100 each month to go towards paying off your debt. Now for the snowball affect. Take the $100 and add it to the smallest bill you have. For example, if the smallest bill you have is $25 a month, you will add that $100 to that payment each month until that bill is paid off. So you will be paying $125 each month until that bill is paid off. Keep in mind you are still paying only the minimum on all other bills.

Once the smallest bill is paid off you will move to the next bill. You will take that $125 you will paying on the previous bill, plus the minimum you have already been paying, and use it to pay down the next bill. So if you were paying just $10 a month on your second smallest bill, you would now be paying $135 a month on that bill until it is paid off. You just keep doing that until you eliminate every unsecured debt you have. Then once out of debt, make sure you modify your behaviors so you won't end up back in the same situation.

Unsecured Debt Relief How To Eliminate Unsecured Debt For Good

By: smith archer

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