Debt Free Living

A common question I hear on an almost daily basis in today’s economy. Besides winning the lottery or having a rich relative die, there are really only 6 “legitimate” methods for getting out of debt. Notice my use of quotes. I don’t like or agree with some of these methods but I can’t argue that they work.

The 6 methods I am referring to are below in no particular order.

1. Bankruptcy
2. Debt Consolidation
3. Debt Settlement
4. Consumer Credit Counseling
5. The Mortgage Accelerator method
6. Do It Yourself

Personally, I am a fan of the Do It Yourself method. The reason is that it saves you all the fees associated with the other methods and by learning and doing it yourself you are much less likely to be in this situation again. I can’t tell you how many people I have worked with who have filed for Bankruptcy in the past and are on the verge of needing to file for it again. This says to me that Bankruptcy doesn’t address the underlying problem. If you simply wiped out the debts of 100 people, I honestly believe that 95 of those 100 would be in debt up to their eyes again in 5 years. It’s because it doesn’t address or work on the problem that caused you to get in the situation to start with.

The Do It Yourself method is not only more effective than any of the other methods but it helps solve the problem that got you in debt to start with. And you can do practically any of the methods using a do it yourself approach. Rather it be debt settlement or consumer credit counseling, you can learn and be taught to how to do all of those yourself. And if you stick with me long enough, I will show you.

Stay tuned as my next series of updates will cover each of the above 6 methods in detail. I will show you the Pro’s, Con’s and my personal take on each of the methods above.

See you soon.

The Debt Doctor

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