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This consists mainly of credit card debt and auto loans and excludes investment debts like mortgages.
With some dedication and patience, you should be able to find your way out of your debt hole.
Here are the things youll need to do.
Understanding Your Debt Situation
You cant deal with the problem of debt until you know where you stand.
This doesnt have to be anything fancy a good budget simply needs to list your income and your expenses.
Whatever money is leftover after you subtract your necessary expenses from your income can be used for discretionary spending.
Debt Snowball
Under the debt snowball, youll attack your smallest debts first.
The more money you’re able to earn, themore discretionary incomeyoull have to pay down your debt.
However, if these steps will help you repay your debt, they may be worth it.
When you pay the debt relief company, it disperses the money to your creditors.
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