3 Steps To Getting Out Of Debt

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n This is part of our Pay Debt Quickly series sponsored by n n PDQ Pay Debt Quickly kit.

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Are you struggling with debt? I’ve been there (and it was a major n cause of my divorce). This is informatio I wish I had known then. n As always, feel free to comment below.

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Step 1: Draw a Debt Picture

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Gather all your statements and enter your information in the Debt n Payoff Info worksheet. You’ll need to know your balance, interest n rate and current payment. Total the balances and the payments. n Acknowledge that you used your credit cards to fund your lifestyle n and move on to debt-freedom. Get my free Debt Payoff Info n worksheet inn n Excel o n Adobe.

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Step 2: Stop using your Credit Cards

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The credit card companies are masters at this game and if you’re n carrying a balance, you’re on the losing end of the deal.

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• Did you know that new purchases don’t have a grace period if n you have a balance? n
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• Did you know that new purchases don’t usually get the n existing teaser rate? n
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• Did you know that if you have multiple interest rates on the n same card that most or even all of your payments will go to the n balance with the lowest interest rate while the balances at the n highest interest rate just keep compounding?
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These are all great reasons to stop using your credit cards now!

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Step 3: Convert Minimum Payments to Fixed Payments

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This is the beautiful part! Let me explain.

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When you get a home and auto loan, you pay the same amount of n money for a specific amount of time and then you’re done and the n debt is paid off. With a credit card, though, your payment is a n percentage (usually around 4%) of your balance. As you make n payments, your balance drops and so does your minimum payment. This n is what will keep you in debt jail for a very long time.

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However, you don’t have to make just the minimum payment. I n recommend that you take the minimum payment from this month and pay n that same amount every single month until it is paid off.

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Converting your credit cards payments to fixed payments can save n years and years and thousands of dollars. Let’s see how much this n method can save by looking at one client’s debt information:

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Name	Interest Rate	Current Balance	Minimum Payment
Visa	32.24%	$970.86	$29
MasterCard	19.49%	$1506	$128
Cap One	16.24%	$11,700	$277
Store Card	13.07%	$1407	$42
Auto Loan	8.09%	$10,356	$237
Totals	N/A	$25,940	$713

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Paying the minimums only will take 350 months and cost $49,007 n (total interest is $23,067 almost double the current balances!). n Changing the payments to fixed (paying the same amount every month n as listed above) will take 47 months and the total will be $33,272 n ($7,332 in interest). Total savings is $15,735 and over 25 n years!!

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AND they didn’t pay any more than they paid this month.

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What if you could become completely debt-free faster than you n ever thought possible? What If You Could Instantly Create A Plan To Pay Off All Your Debts n Including Your Mortgage? And without “pinching pennies”, getting a n second job or cutting your spending in any way!

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Introducing then n PDQ Pay Debt Quickly kit!

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Warning: This program is NOT for everyone. If you are months n behind on your bills or about to lose your home, you require more n help than the PDQ Pay Debt Quickly kit can provide — Please do not n order this program.

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If you ARE paying your bills but just can’t seem to get ahead, n the PDQ Pay Debt Quickly kit is for you. It’s also for those who are n doing extremely well and getting ahead but still trying to get rid n of their debt and eager to learn how to get rid of it once and for n all.

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If you are in either of these two situations, then reserve your n PDQ Pay Debt Quickly kit while you’re thinking of it and instantly n create your plan to eliminate debt forever.

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Warmly, Cindy Morus

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P.S. You can also earn money recommending the PDQ Pay Debt n Quickly program to your friends.n n Email me to find out more details.