Comments on: I need to find a reputable debt reduction firm? http://debt-reductionhelp.com/i-need-to-find-a-reputable-debt-reduction-firm.html Debt Reduction Help Information Guide Mon, 21 Feb 2011 23:11:03 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: bobbysgirl_82 http://debt-reductionhelp.com/i-need-to-find-a-reputable-debt-reduction-firm.html/comment-page-1#comment-98 bobbysgirl_82 Wed, 01 Jul 2009 08:11:47 +0000 http://debt-reductionhelp.com/i-need-to-find-a-reputable-debt-reduction-firm.html#comment-98 I say a debt management program is awesome. I've been in one for about 2 years now. What they do is find out how much money you are spending each month, all bills included. Then with any credit card debt, they will send an offer to the company requesting for your account to be accepted into the program. If the credit card company accepts the offer, they should lower your interest rates quite a bit or rid of the interest rates all together. Interest rates are really what you pay for. They will give you a total amount to pay each month that is affordable for you. For me, paying the minimum balance every month on my credit cards would take me like 20 years to pay them off. Through my DMP, I'll be paid off by February 2009. Woo-hoo!!! All you can do is try. If you want more information go to Good luck!! I say a debt management program is awesome. I’ve been in one for about 2 years now. What they do is find out how much money you are spending each month, all bills included. Then with any credit card debt, they will send an offer to the company requesting for your account to be accepted into the program. If the credit card company accepts the offer, they should lower your interest rates quite a bit or rid of the interest rates all together. Interest rates are really what you pay for. They will give you a total amount to pay each month that is affordable for you. For me, paying the minimum balance every month on my credit cards would take me like 20 years to pay them off. Through my DMP, I’ll be paid off by February 2009. Woo-hoo!!!

All you can do is try. If you want more information go to

Good luck!!

]]> By: Rick B http://debt-reductionhelp.com/i-need-to-find-a-reputable-debt-reduction-firm.html/comment-page-1#comment-97 Rick B Tue, 30 Jun 2009 04:28:47 +0000 http://debt-reductionhelp.com/i-need-to-find-a-reputable-debt-reduction-firm.html#comment-97 DON'T do debt consolidation. It just moves your debt around. It rolls high interest items AND LOW interest items into the same loan at a mid-range interest rate. It might lower your monthly payments, but that means it will take even LONGER to get out of debt. It also frees up all your lines of credit so you can simply run them up again! Finally, you often have to pay a loan origination fee You don't need anyone to do it for you. All they do is negotiate your debts for you and collect a fee. You can do it yourself! Call all of them and work out a payment plan and try to get your interest lowered or stopped. Then, make the minimum payments on every one of them. On the lowest dollar value, put all your extra effort toward paying it off. Once it is paid off, then roll that extra money to the next largest balance. Continue this snowball until all your debts are paid off. You probably need to cut your expenses back to the bare minimum. Get rid of cable, cell phones, internet, etc. Lower your electric bill, gas bill, water bill, etc. Don't eat at a restaurant until your debts are under control. Take a sandwich for lunch. Cancel the gym membership. Try to increase your income by getting a second job. If you have a car with payments, get rid of it, and buy a good dependable used car for CASH. Go to the library and get "The Total Money Makeover". Read it and follow it carefully. Go check out Dave's website as well. DON’T do debt consolidation. It just moves your debt around. It rolls high interest items AND LOW interest items into the same loan at a mid-range interest rate. It might lower your monthly payments, but that means it will take even LONGER to get out of debt. It also frees up all your lines of credit so you can simply run them up again! Finally, you often have to pay a loan origination fee

You don’t need anyone to do it for you. All they do is negotiate your debts for you and collect a fee. You can do it yourself!

Call all of them and work out a payment plan and try to get your interest lowered or stopped.

Then, make the minimum payments on every one of them. On the lowest dollar value, put all your extra effort toward paying it off. Once it is paid off, then roll that extra money to the next largest balance. Continue this snowball until all your debts are paid off.

You probably need to cut your expenses back to the bare minimum. Get rid of cable, cell phones, internet, etc. Lower your electric bill, gas bill, water bill, etc. Don’t eat at a restaurant until your debts are under control. Take a sandwich for lunch. Cancel the gym membership.

Try to increase your income by getting a second job. If you have a car with payments, get rid of it, and buy a good dependable used car for CASH.

Go to the library and get “The Total Money Makeover”. Read it and follow it carefully.

Go check out Dave’s website as well.

]]>