The average American has about $38,000 in personal debt. Being haunted by debt restricts many of your life choices, like buying a house or a car. If you want absolute freedom from debt, here are a few ways you can take control back of your life.
The best thing to do is get professional help. Find a debt relief attorney in Phoenix, AZ. Set up an appointment. Talking to a professional can help you find out what your options are, understand them better and decide on which course of action is wisest for you to take.
Know the Risks
It is important that you work together with a trustworthy and experienced debt relief attorney in Phoenix, AZ to find out which credit card debt relief program is right for you. That includes knowing the possible risks that may happen. Being fully aware of what different programs entail means you know exactly what you are signing up for when you commit to a program.
Stick to the Payment Strategy
You will need to work together with your attorney to come up with a payment plan that is ideal for you. But that is only going to work if you stick to the plan. Do not deviate. If you feel like you are on the verge of breaking your budget, remind yourself of the problems you will land into if you fail the program.
Pay More Than the Minimum
When you make your payments, make sure you go beyond the minimum. If you only commit to minimum payments, then credit card companies will make a ton of money off you through interest payments. Do not pay more than you need to. Pay more than the minimum so you can make fewer payments. Insurance companies will make less money off you.
Consider Consolidating Your Debt
You could also consolidate your debt. Talk to a lawyer to find out more about this option. The premise of the idea, though, is that you transfer all your debt to one credit card. They all have the same interest rate, which could be lower than the rate on some of the payments you need to make. As a result, you get to save more money, which can go towards your payments.
Learn more about your situation by talking to a lawyer. Contact The Law Office of Larry P. Karandreas, PLLC for a debt relief attorney in Phoenix, AZ.