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Posted: Fri Mar 16, 2007 12:18 pm Subject: How to reduce the debt?

how do i reduce my debt

Posted: Fri Mar 16, 2007 12:28 pm Subject:

Well, I would like to know what kind of debt do you have and how much if you don't mind me asking. Are they payday loans, secured or unsecured loans or credit cards? Are you debts more than your income? If you have signed up on this message board, someone will be contacting you soon to discuss your options.

Tell me more about your debt and I can see if we can all help.

Posted: Fri Mar 16, 2007 1:42 pm Subject:

Four ways to reduce the debts.

Make timely and full payments.
Or
Debt consolidation.
Or
debt settlement
Or
Bankruptcy

The credit ratings stand at the best if you are making timely payments to the creditors. You won't see your debts rising higher if you manage to pay in full within the due dates.

Debt consolidation is one of the debt management program in which you pay the principal amount along with interests at lower rate. Some of the late payment fees are waived off once the counselor negotiates with the creditors.

debt settlement53 is another option by which you can have your total balance settled by 40% to 60%.

If none of the above options work, bankruptcy is to be the last choice. But make sure that you have tried all other avenues before considering this plan. It will stay in your credit for 7 to 10 years and you will have to re-build your credit from the beginning after the debts are discharged.