Debt Management Solutions & Resources
Improve your finances and financial future through debt management solutions. Whether you want to reduce or eliminate what you owe, consolidate your debt, or need relief from financial distress, we can help.
Debt Consolidation Loan
Qualification/Questions to Ask /Who Can Benefit.
Lowering your DTI
Need help consolidating debt & lower your monthly payments
Working towards buying a home
Debt Settlement Program
Qualification/Questions to Ask /Who Can Benefit.
Experiencing severe financial hardship
Have more than $4,500 total debt
Trying to avoid bankruptcy
Multiple accounts charged off or in collections
Good Debt vs. Bad Debt
Good debt
Good debt is debt that improves your income or net worth, can be repaid responsibly and has a good return on investment.
Mortgage loans
Real estate investments
Student loans
Business expenses
Bad debt
Bad debt, on the other hand, is debt that you are unable to pay, does not provide a return on investment, loses value after the transfer of ownership, and negatively impacts your credit.
Credit card debt
Personal loans
Payday loans
Auto loans
Debt Management Resources
Good Debt vs Bad Debt
Articles & Tips for Paying Off Debt
Debt Repayment Calculator
Your Roadmap to Debt Freedom: A 10-Step Guide
STEP 1
Craft a Transparent Budget
- Leverage tools like the Rocket Money Budgeting App to gain insights into your financial habits. Rocket Money Budgeting App
- As a seasoned credit financial advisor, I've seen firsthand how understanding daily financial activities can transform one's financial health.
STEP 2
Spot Your Cash Flow
- Do you have a positive or negative cash flow?
- If it's negative, from my experience, simple adjustments, like reducing frequent dining out, can significantly impact your cash flow.
STEP 3
Set Clear Financial Goals
- Reflect on your priorities: Is being debt-free more important than short-term luxuries?
- A shift towards financial independence can be life-changing, as I've observed with countless clients..
STEP 4
Dive into Debt Stacking
- Begin with the credit card with the smallest balance.
- Ensure minimum payments on others to avoid penalties, and allocate extra funds to the smallest debt.
STEP 5
Zero in on the Smallest Debt
- Channel your resources to eliminate the smallest credit card debt swiftly.
- Over the years, I've seen this strategy accelerate debt clearance for many.
STEP 6
Harness the Snowball Effect
- As you clear one debt, you free up more funds.
- This growing "snowball" allows you to tackle subsequent debts more aggressively.
STEP 7
Rinse & Repeat
- Once the smallest debt is cleared, shift focus to the next.
- Consistently apply this method for optimal results.
STEP 8
Feel the Momentum
- Every debt cleared amplifies your momentum.
- Use this energy to drive forward, as I've advised many to do.
STEP 9
Celebrate Your Wins
- Recognize each milestone in your debt clearance journey.
- Celebrating progress is crucial for maintaining motivation.
STEP 10
Relish in Debt Freedom
- Stay committed until all debts are eradicated.
- Experience the unparalleled joy of financial freedom.
