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1). Becoming Debt Free Requires Desire You want to escape from your debts, right? But before you make a start, let me remind you that it won’t be easy. In fact, it could be one of the hardest things that you’ll ever do in your life. Don’t be under any illusions about this. Enormous self-discipline is required from you. The more you owe, the harder this will be, and the long... 2). Confront Your Debts The first stage of getting out of debt is to work out the size of your problem….to the nearest cent! If you don't know the true extent of your debt, you won't be able to do anything about it. I want you to collect together every statement, account, bill and final reminder that you’ve got. Add together everything, and I mean EVERYTHING ... 3). Debt Negotiation Tips When you reach the position where you can't afford your debt repayments, it's time to take action. Instead of running from your situation you need to take positive steps to fix it. If you reach the stage where you can’t keep up with the repayments, it’s VITAL that you contact your creditors as soon as possible and explain your situatio... 4). Don't Bluff Your Creditors When approaching your lender to make an offer of reduced debt repayments, it's best to be completely honest and offer them as much as you can realistically afford to pay month by month. Whatever happens, don't try to call their bluff. You might think that the best thing to do is to become ballsy about your situation. After... 5). Escape Debt - Consider Who Your Friends Are Certain people are bad for your debts. Have you ever noticed how certain people encourage you to spend more heavily than others? You know, those who are always urging you to ‘stick it on your card, because you deserve a treat’. But what about the ‘treat’ when the statement arrives? When people go shopping together they tend to egg each... 6). Five Reasons To Get Out Of Debt Do you want to get out of debt but can't find the motivation? Do you dread the mail arriving in case it brings you even more bills to pay? Well if you need a burst of motivation to improve your financial position, I've put together five reasons to get out of debt and avoid borrowing in the future. 1) Everything that you bu... 7). How To Budget It’s always a good idea to use a budget to keep track of your personal finances, but it’s vital when you’re up to your neck in debt! The basic idea is simple. A budget just compares the income you have each week or each month with the things that you have to purchase. Right, first you need to work out your total monthly in... 8). Prioritise Debt Repayments One of the best ways to speed up the repayment of your debts is to focus your attention on paying off the loans that carry the highest rate of interest first. Get rid of the debts that cost you most to service. Here’s what to do. Compare the interest rate on each of your loans and repay those with the highest rate first. The only way t... 9). The Danger Of Rounding Up Your Debts Rounding up your debts is one of the biggest dangers to your financial position. It's also one of the easiest ways for your debts to get out of control. This way of thinking is best summed up by the following comment; ‘I already owe $27500 so what’s another $500. It takes my debt to a nice round figure $28000’. That’s a da... 10). The Real Meaning Of Debt Right, what does debt really mean? Debt is money that someone else lends you, on the understanding that you’ll pay it back. Let’s face it, if you didn’t have to pay it back, it wouldn’t be a debt, would it? It would be a gift or a grant. But it doesn’t end there. If only it were that simple! Almost everyone wh...