Your 5 Step Guide to Getting Debt Relief Fast

Carrying balances on multiple credit cards is stressful and expensive, and paying them off quickly can be a challenge. 

That’s especially true if you are living paycheck-to-paycheck or dealing with other debts simultaneously, like student loans. But it is possible to get debt relief even with those challenges. 

This 5 Step guide can help you develop a plan to pay off your debt or identify the best debt relief option when a traditional payoff plan just won’t cut it. 

Stop making it so difficult to get debt relief

The only way to get out of credit card debt is to stop creating new debt while paying off what you owe. This means you need a budget that covers all your expenses and builds in emergency savings. 

Create a budget that’s optimized for getting out of debt

Monthly savings should be a line item in your budget. Ideally, you want to save 5-10% of your monthly take-home income. If you can’t make that target, see what you can cut to reach it. 

Take stock of your debts and decide on a repayment strategy

Now it's time to get down to the nitty-gritty of obtaining debt relief. That starts by figuring out exactly how much you owe, what it's costing you, and where each debt stands. 

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