Is your debt acting as a slow poison in your body? Is it creating excessive mental stress or physical ailments? If so, then it’s hardly surprising because debt or financial issues have a direct relation with your mental and physical well-being.
Debts lead to mental stress and generate negative thoughts in your mind. The result is fatal. It wreaks havoc on relationships and often make debtors suicidal.
Retail therapy can give temporary relief from the constant pain in the heart. Once debtors receive credit card bills, the pain comes back. But this time, the pain is even more unbearable.
Like I said earlier, stress acts like a slow poison in the body. It increases blood pressure level even when someone is perfectly normal. High blood pressure leads to tension and accelerates the chances of heart attack - meaning credit card debt should be regarded as a medical problem.
So, what should you do now? Retail therapy won’t solve your problem.
Don’t panic. Every problem has a solution. Here are a few options you can try out to solve your problem.
1. Look at the facts
Create a list of all the debts you have. The list should be detailed. It should contain the creditor's’ name, contact details of the creditor, the total amount you owe, the minimum amount you can pay, and the interest rate creditor is charging.
2. Use a debt payoff calculator
It’s good to figure out how to pay off debt and save money. The calculator would give you an idea about how much you can potentially save by
(i) negotiating with your creditors yourself (ii) taking advantage of debt settlement program offered by OVLG
The calculator would also give you an idea about how long would it take to pay off debts.
3. Consider debt settlement
I’m not saying that debt settlement would make you debt free within a day. This is not a magic wand. But, it would help you sweep away your debts along with additional interest rates and penalties. Plus, you can avoid filing bankruptcy too.
Read more - Debt settlement solves your debt reduction needs fast: True?
4. Call (800)-530-OVLG
Call at this Toll-free number to get free counseling from Oak View Law Group financial coach. He will tell you what to do and what not to do for getting out of debts. Our financial coaches have helped over 5317 people to get out of debt in the last 9 years. And, I’m sure you would be able to bid ‘goodbye’ to your creditors too.
Find out - What happens after you contact OVLG?
5. Make and save money
Just forget about entertainment for the time being. Learn new ways to not spend money unnecessarily. Read tons of books and various websites to make extra money. For instance, you can earn an extra $30 just by babysitting for an evening. Use that money to settle your debts.
6. Downsize
Are you paying too much on your rents? Well, in that case, you can move to a smaller apartment to save a chunk every month. Every penny counts at this time. Use the money to pay back your creditors and get out of depression as soon as possible.
7. Follow OVLG waterfall tips
Smart financial tips can help you overcome any kind of financial problems in the country. OVLG offers free financial tips every week to help you stay on top of your finances. Follow these tips every week to keep debts and financial troubles at bay.
8. Cut costs where you can
Your present budget is obviously not working for you. Otherwise, your situation wouldn’t have been such traumatic. You’ll get a free budgeting consultation from the OVLG financial coach. Listen to what the Financial Coach says to you and change your current budget plan. Cut costs where you can to save money. Skip your daily latte from the cafe. Bring lunch to your office so as to shed extra cost.
9. Depend more on cash
Try to use less credit cards for the time being. Rather, pay in cash when you go for shopping. It is better to use less credit cards till your debts are under control.
10. Sell your extra items
Do you have lots of unwanted gifts in your closet? If so, then you can sell them on Craigslist or eBay. Make sure you list all the items at a moderate price. Give a proper description for the item. Write a nice headline to grab the attention of the buyers.
Conclusion
Finally, the best part is you can get rid of debt and depression. All you need is a specific amount and the right guidance. Be little patient and focused. You’ll be fine soon.
