Stay Focused on the Plan You may be tempted again and again to quit. Don’t do it! Each missed payment will set you back in reaching your goal. Starting something is easier than finishing. More start the race than finish it. Life is littered with dropouts who quit when the going gets rough. Tough people […]

It is important to pay back all of the debts you owe. However, if there is not enough money to make payments on all of your loans, consider prioritizing your debts. Debts you may want to pay first include mortgage or rent, utilities, secured loans and insurance. Second priorities may include credit cards and unsecured […]

By now, you should have a clear picture of how much money you can manage to pay back and when you will be able to pay it back. The next step is to decide how much you will pay each creditor and how long it will take to pay off each creditor. Try to set […]

Once you have listed everyone you owe, determine how much you can pay each creditor and how long it will take to pay back each debt. Generally, it is good to limit the amount of credit you owe (excluding your home mortgage) to no more than 10 percent of your monthly take-home pay. If your […]

Writing down your plan will help you to achieve it. Use notebook paper and allow enough space to include the number of months to fulfill your plan. With each creditor, list the payment which is planned, the amount paid and the new balance due after the payment is made. Do this with each creditor for […]