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How will debt relief work for me and my family

                Debt relief is one of those funny things that mean different things to different people.  So the first thing I would ask yourself is what does debt relief mean to you?  Once you have that understanding you will have your destination in mind and now you can build your road map around that.  Talking to people about something that you have not established your meaning for can be pointless because you will not have the actual destination in mind.  For the purpose of this article I will establish my own definition to debt relief and build a road map for that.  Living in a big suburb like Dallas there are plenty of things to do for me and my kids, but it can get costly.  So when I think of my definition I need to take my surroundings into consideration.  So to me debt relief means that I have the ability to pay off any credit card or loans I have out within a month’s worth of pay.  Plain and simple, I can have debt but I want it to be under control.

Did you know that the people with optimal credit carry about 15% debt load of their available credit each month?  So a lot of times when I speak with people they are looking for 100% debt free.  Pay cash for everything.  I can see the benefits, if you make enough cash that you don’t need to use your credit for things like a new car or a house, but for those of us that fall into the category that we don’t have enough cash to do this then carrying some debt is not a bad thing.  The bad thing is the maxed out credit cards, money going out each month to minimum payments it changes the way you want to live, and not being able to get new credit because your other credit is not up to par.  Well there is a way to have debt and have it responsibly and getting there may take some patience and some sacrifices but the reward will be amazing!  Let’s walk through some options to get you there.

First is to start paying cash for those nights out on the town, those wonderful restaurants we have here in Dallas and even those fun Friday night with your kids.  If you don’t have the cash to do those things, don’t charge it do something else!  That $50 meal at Stampede 66 will turn into a whole lot more in 9 months when you have been making minimum payments each month.  So let’s start there.  Next thing is find a reputable debt settlement company to enroll into.  This is a great way to eliminate your debt for less than what you currently owe and get your debt gone in 3 years or less.  The last step is something you do after your program is over and it is to get 3 secured credit cards for over $1,500 each and in 6 months to a year after you start those your credit score will be up and you can turn them into unsecured credit.  Then you get yourself back to a manageable point to be responsible with your debt and not get back to being maxed out again.  That’s it to me, debt relief is a manageable amount of debt that can be paid off in one month if need be.  Stress Free and that all we all really want anyway.

 
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