How To: Reduce Your Debt

Maria Calderon is like many Americans: she wants to own a house and she wants to get ahead. But debt is standing in the way.

“I realized I can’t buy nothing yet because I need to pay off all my debts.”
-Maria Calderon

But unlike many Americans, Maria resolved to do something about it. She sat down with a credit counselor. Result? She can now see the light at the end of the tunnel.

“I was thinking I can’t pay all my debts because it’s a lot of money, but with them in at least 3 or 4 years I’ll pay off everything.”
-Maria Calderon

So if you’ve resolved to pay off debt this year, credit counseling can help. If you’re in trouble, they’ll get between you and your creditors. And if all you need is some objective advice, they can help with that too.

“It’s Budget 101, they need to find out where they stand, how much money is coming in and look at their living expenses.”
-Alfredo Mercado, Consumer Credit Counseling Service

In short, a plan. Looking at what’s coming in, what’s going out and what’s left over that you can use to pay off debt.

“Those little expenses they add up and if you start cutting back those and living on a budget daily or monthly that will bring up the difference.”
-Alfredo Mercado, Consumer Credit Counseling Service

Bottom line? If this is the year you’ve decided to get into better financial shape then maybe it’s time for you to stop talking the talk and start walking the walk. How? Target your debts for payoff, get a budget together, maybe get rid of a few credit cards, and if you need help find it.