Monday, April 4, 2011

Debt Diet eCourse: Debt Diet Week 4: Make a Debt Plan 4/4/11

From LaToya Irby, your Guide to Credit / Debt Management
Now that you know how much debt you have, it's time to figure out how you're going to pay it off. Don't worry if you think you don't have enough money to completely pay off your debt. There are steps to help make the most of your income and get rid of your debt for good.This week's objective is to create a Debt Plan using your budget from Week 1 and Debt Tracking Worksheet from Week 3.
How to Set a Reasonable Debt Free Goal 
Setting a debt-free goal that's too aggressive will only frustrate you when you can't make the payments you need to be out of debt in such a quick time frame. There's a right time to get out of debt and this lesson will teach you how to figure it out.
Prioritize Your Debts 
When you read this lesson, you might argue that these debts are in the wrong order - credit cards fall at the bottom of the list. Compared to other debts on the list - like your mortgage - they're less important.
Six Debt Repayment Options 
When it comes to paying off your debt, you have several options. You can pay it off yourself, you can enlist the help of a debt management company, or you can fire bankruptcy. Weigh the pros and cons of each option before you proceed.
How to Make a Debt Payoff Plan 
This is a guide that will show you step-by-step how to make a debt payoff plan. There's even a link to a free worksheet you can use to create your plan.
66 Ways to Get Money for Debt 
As you put your debt repayment plan into action, refer to this list of ways to generate more money for your debt. Not all the items will apply to you. In fact, you may only be able to do one or two of the things on this list. But every little bit counts when it comes to paying off your debt.
Join the Debt Diet Support Group 
Talk with other readers who are going through the debt diet. Share your successes and setbacks. Get motivation to pay off your debt.

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