Paying debts yourself with Margin acceleration versus Debt Settlement
Finding a way to pay your debts off yourself is probably the best solution if your debt is not more than $10,000, unless your income is extremely limited. If you are willing to put yourself on a strict monthly budget, we can show you a way to accelerate your payments and get out of debt far faster than paying minimums.
Pros of Margin Acceleration
The primary advantage is that you keep your good credit rating in tact.
Cons of Margin Acceleration
If you find you are unable to do it, you may have wasted time and money trying. Also, you will be on a strict budget until you are debt fee.
The Optimal Candidate for Margin Acceleration
You are an optimal candidate if your credit is still in good shape and you are unwilling to give that up. Also, you must have good self-discipline in order to put yourself on a monthly budget that does not allow for much more than basic necessities. It will also help if your income is on the rise. You are still able to make your minimum payments as they come due, and maybe even a little more, but you are not making any real headway.
How to get out of debt the quickest way when paying debts yourself.
The fastest way to get out of debt by paying debts your self is best shown by example. Suppose you have the following debts:
|
Debt |
Type of Debt |
Interest Rate |
Payment/month |
# of payments left |
|
$4,000 |
Car Note |
8% |
$250 |
18 |
|
$250 |
Dentist Bill |
0% |
$50 |
5 |
|
$2000 |
Credit Card |
18% |
$40 |
(minimum) 70 |