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Debt Reduction Education

1 - Your Debt2 - Your Budget3 - Reducing Your Debt4 - Debt Consolidation5 - Federal Student Loans6 - Avoiding Debt7 - Resources




Your Current Debt

What is your current debt?  Do you know it?  Most people don’t even know how much debt they owe.  They have an idea, but they have never taken a pen to paper to calculate their true debt.   

Additionally, most people don’t know the true cost of their debt.  A current credit card balance of $10,000 with a 14% APR will cost hundreds or thousands depending on how long you take to pay it off and with possible fees.

Some of the questions you need to answer to determine the severity of your debt include:
  • Do you have enough money to pay your bills every month?
  • Do you pay your bills late because you just don’t have the money?
  • Do you have no idea of how much money you owe?
  • Have you stopped paying some of your bills?
  • Do you pay only the minimum required by your credit card because you can’t pay more?
  • Are your credit cards maxed out?
  • Have you had any of your credit cards cancelled for non-payment?
  • Do you live from paycheck-to-paycheck?
  • Do you have little to no savings in the bank?
  • Are debt collectors calling you or are you receiving threatening mail from them?
  • Is your debt affecting your marriage and/or your job?
  • Are you arguing with your spouse about your debt?
  • Are you losing sleep because of your debt?
If you answer yes to most of the questions listed above, you have serious financial problems.  The first step with solving most problems is first realizing that you have a problem.  You must face the truth and gain the self discipline to make sacrifices which will be tough. Don’t despair, most problems have solutions. Now is the time to act.  

With the information on this website, you will have a good start to debt reduction.  You will know what to do, how to deal with debt collectors, handling your debt, consolidate your debt and much more.


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