Pardon me for being rude, but – are you insane, bad at math, or only joking? In what way do you believe “the tax code is better being self employed”? Unless you make over $127,200 the taxes are much HIGHER on self-employed individuals. I say this as a former employee, now an independent contractor and small business owner being taxed literally to death for the last 13+ years. Self employed people making under the Social Security cap pay an additional 7.65% tax. And yes, you can “give yourself a raise” but YOU are the one paying yourself, so…
Take on a part-time job. Working 10 more hours a week for a year at $12 per hour can generate $6,000 before taxes. You might work at a local retailer or at home, perhaps tutoring students, teaching music, doing freelance writing or editing, or consulting. Check out new-gig-economy jobs like Uber if you have a car, Rover and Wag if you're animal lover, or Care.com if you want to babysit or tutor. Post any services you may offer, like handyman or lawn care, on neighborhood email listservs and the Nextdoor app.
Walking or biking to work have benefits beyond just saving money too. More exercise, less pollution, less aggravation. When I worked in an office, I always walked to and from work. Sometimes as much as 45 minutes each way and in all kinds of weather. Such was my mania to avoid giving the MTA one cent I didn’t have to give their crummy service. And to save money of course.

I have been with NDR almost a full year and am happy with my results. They have settled 3 of my 5 accounts so far and I have received letters from these companies saying what the settlement was for. Also about the credit situation, they tell you when you sign up that it is a negative impact on your credit, you would have to be stupid to think your credit is going to be fine when you're settling with one of your creditors for half the price they lent you. NDR in my books on a scale of 1-10 is a perfect 10, I'm very satisfied with my results and glad I've found someone that is willing to help people that are sinking in debt

My daughter has major college loan debt. We have helped pay a couple of loans,but cannot pay them all. She is working three jobs,trying to get her Spcial Ed teaching degree,and is living back home with us. She will be 27 in November and feels like she will never get out of this vicious cycle.She has negotiated some of her loan’s interest rates down,but is now considering bankruptcy.is it true that you can’t file bankruptcy on student loans? This is a nightmare for so many young adults. I think that it is a major part of the economic woes in this country.

Here’s how balance transfers work: As a way of attracting new customers, credit card companies will let you transfer a balance—in other words, a debt—from one credit card to a new credit card at 0 percent interest for a certain number of months. For example, if you were to transfer a $2,000 balance from one card (15 percent APR) to a new card (0 percent APR for 12 months), you could save up to $300 in interest.
For many consumers who realize "I need help with my debt" and who come to us with questions like "How do I manage credit card debt more effectively," we often suggest a debt management program. Under this approach, you'll make one payment each month to us and we'll pay all your creditors for you. This ensures timely payments, simplifies your finances and lets us work with your creditors to reduce interest rates and finance charges.
Kevin – Let’s look at it this way. You’re paying roughly $3600 a year in interest on that debt. Over five years that’s a little over $18,000. The counseling agency can get that down to 0 (you won’t even find a debt consolidation loan for that rate) and you’ll be debt-free at the end of those five years. The damage to your credit won’t be anywhere near what it would be with debt settlement.
Try to put some money down on your higher interest student loans. The way I paid off my bachelor loans was whenever i got a refund back from the college or from taxes a portion of that went to the student loans. The more you tackle your higher interest loans the better your credit. Now if you have like tiny ones like 1,000 try paying those off if your not financially ready to tackle the bigger interest rates ones.
While maybe not as widely known, this may be the leading non-profit organization to call for debt management plans, help for paying loans, and other credit counseling in western Texas. They can help qualified individuals refinance their debts and pay off outstanding bills over a period of time using DMPs, consolidation, or so called hardship programs. Services are offered in Spanish too.
Some of these debt reductions solutions as well as assistance programs are offered by credit card issuers, private companies, non-profit counselors, banks and other organizations. Banks, medical providers, credit card companies as well as other lenders are more willing than ever to help a household get their finances under control. They would rather be able to collect some of the outstanding debt from the borrower rather than see them file bankruptcy or somehow contest it, in which case the lender gets nothing.
Debt Settlement is making a deal with creditors to pay less than the total balance owed. As attractive as that sounds, there are some severe penalties, notably to your credit score and tax liabilities. Debt settlement costs include attorney fees (typically 10-20% of amount settled) and taxes owed on forgiven debt. Debt settlement negatively impacts credit for several years.

Bankruptcy can't solve your problems if you have substantial student loan debt. Student loans aren't dischargeable in bankruptcy except in extreme cases where you can show severe hardship, such as becoming unable to ever work because of total permanent disability. You also can't get rid of mortgage or car loan debt if you hope to keep the assets; you'll need to become current and eventually repay these debts in full to avoid foreclosure or repossession of the vehicle. But for unsecured debt -- which is debt not guaranteed by your assets that you simply promised to repay -- bankruptcy could provide relief. 


A debt management plan (DMP) is an agreement between a debtor and a creditor that addresses the terms of an outstanding debt.[1] This commonly refers to a personal finance process of individuals addressing high consumer debt. Debt management plans help reduce outstanding, unsecured debts over time to help the debtor regain control of finances. The process can secure a lower overall interest rate, longer repayment terms, or an overall reduction in the debt itself.[2]
While negotiating with your creditors could be a very good solution most Americans are unable to do this as they simply do not know what to do. This is a case where the expertise and professionalism required to negotiate for new payment terms is often best left in the hands of those who know what to do. Otherwise, the desired results may not be achieved.

As far as options go, I’d recommend you start by talking with a reputable credit counseling agency – one of the options I mentioned in the story. That will give you a baseline to start with. If they can help you with DMP, it’s likely to do the least damage to your credit (with the exception of just paying the debt off) over the long run. If you/they determine a DMP isn’t feasible then you’ll know you have to look at more drastic options like negotiation or bankruptcy.

You may also be able to obtain a debt consolidation loan if you have more than one student loan. Consolidating multiple student loans, which you can also apply for through StudentLoan.gov, will allow you to have a single monthly payment at a fixed interest rate that's based on the average of the interest rates on the loans you're consolidating. There's no cost to consolidate multiple federal education loans into one loan. However, you may lose certain student loan benefits, such as the ability to defer repayment.
Certain credit cards and other financial products mentioned in this and other articles on Credit.com News & Advice may also be offered through Credit.com product pages, and Credit.com will be compensated if our users apply for and ultimately sign up for any of these cards or products. However, this relationship does not result in any preferential editorial treatment.
A debt collector generally is a person or company that regularly collects debts owed to others, usually when those debts are past-due. This includes collection agencies, lawyers who collect debts as part of their business, and companies that buy delinquent debts and then try to collect them. The Fair Debt Collection Practices Act (FDCPA) prohibits debt collectors from using abusive, unfair, or deceptive practices to collect from you.
American Consumer Credit Counseling (ACCC) is a nonprofit debt relief agency offering consolidated credit counseling and consumer debt solutions. If you have debt to consolidate, we can help you consolidate credit without taking a loan or paying high fees like some debt management companies charge. A fair, effective debt reduction service, our debt management program simplifies your payment responsibilities and often results in reduced interest rates from your creditors. As a leading national debt consolidation firm, ACCC has also been approved by the Department of Justice to provide credit counseling for bankruptcy both the pre-bankruptcy credit counseling certificate and the post-bankruptcy debtor education.

If you are overwhelmed by debt, you might consider hiring a debt settlement company to help you. Debt settlement companies negotiate payments with each of your creditors. You then pay a monthly sum to the debt settlement company, who distributes your payment among your creditors. By doing this, you can get out of debt faster. Here’s a breakdown of how the companies compare against each other and other debt relief companies.
Try to put some money down on your higher interest student loans. The way I paid off my bachelor loans was whenever i got a refund back from the college or from taxes a portion of that went to the student loans. The more you tackle your higher interest loans the better your credit. Now if you have like tiny ones like 1,000 try paying those off if your not financially ready to tackle the bigger interest rates ones.
You need to start off with a plan so you know just how much debt you have and your ability to pay them off. Also, it will provide you with a black and white scenario of your financial standing. The easiest way to do this is by creating a spreadsheet. If you don’t already have a spreadsheet on your computer you could use the free one that comes with Google Docs. You will want to create four columns – one for the name of your creditor, one for the amount owed, a third for your minimum payment (if applicable) and a fourth for the payment due date. Fill out these columns and you will have a good picture of your debt, which is the first important step in getting it under control.

You didn’t get into debt quickly, and you won’t get out of debt quickly. If you aren’t willing to devote three to five years to wipe out your credit card debt, then you might as well hire a attorney and file for bankruptcy, Ulzheimer says. Just keep in mind that hiring a bankruptcy attorney is expensive, and a bankruptcy will stay on your credit record for seven or 10 years (depending on the type of bankruptcy).
I have read many blog posts, but this one seemed to spark something in me and re-motivate me to pay off my debt. I know that I am not alone in this, but I can do this on my own. I’m ready to refresh my system of repayment, earn more cash, and limit my spending activities. With Christmas around the corner, it’s hard not to push getting seriously about paying off debt until the new year, but I know if I can manage it now, I can do it all year. And that’s one less month I’ll be in debt.
A second option is consumer credit counseling. There is any number of consumer credit counseling agencies available on the Internet or you may be able to find one locally. The best of these are nonprofits. When you contact one of these agencies either via a website or in person you will have a counselor that will spend from 45 minutes to an hour with you discussing your finances. The best of these agencies charge nothing for that service.

Guy who signed me up was professional BUT dealing with the company afterwards was a complete run-around. Transferred 5 times and not given an honest answer. Had to call back and confirm my exit from the program. Then asked personal questions in a resell attempt. Mailing address given to submit cancellation request to is NOT a valid mailing address. Percentage higher than advertised – 23%. Customer service transfers you immediately somewhere else – couldn’t even finish my sentence. Very shady.
My first week of training was taught by the Chief Sales Officer. That set the tone for how leadership operates. They care and are involved. All my coworkers and leadership are willing to help regardless of what team you are on and who you report to. There is A LOT of recognition for all kinds of successes. There are plenty of spiffs throughout the week/month. The money potential is real. If you are a worker, willing...
Sometimes debt can just be an unintended consequence of too much holiday spending — or overspending any time of year. Many people try to get out of debt, but life slaps them in the face hard enough that they give up. But that doesn’t have to be the case. There are so many people who are getting out of debt every single day, and not only that, but they are getting out of debt in a short period of time.
Sometimes debt can just be an unintended consequence of too much holiday spending — or overspending any time of year. Many people try to get out of debt, but life slaps them in the face hard enough that they give up. But that doesn’t have to be the case. There are so many people who are getting out of debt every single day, and not only that, but they are getting out of debt in a short period of time.

If you want some early small victories, some people recommend the “snowball” method, where you pay minimums on the largest bills while you work at paying them off, smallest to largest. Once the smallest one is paid off, you put the money you had been paying toward the next-smallest and so on. Another way is to pay the highest-interest-rate balance first. Use the one that makes the most sense to you. Read more here: 5 Ways To Get Out of Debt: Which Will Work for You?
But sometimes, disaster strikes and people are forced to confront their circumstances head-on. A series of unfortunate events — a sudden job loss, an unexpected (and expensive) home repair, or a serious illness — can knock one’s finances so off track they can barely keep up with their monthly payments. And it’s in these moments of disaster when we finally realize how precarious our financial situations are.
I was referred to Premier by a family member. During my free consultation I no longer felt bad about my finances, Rikki made me feel better about taking the steps needed to move forward and that I was not alone. You don’t realize how many people are struggling or have struggled until you reach out for help. Thank you so much for helping me get back on track!
I LOVE LOVE LOVE this article – I’m planning to share it with my husband tonight. Your approach and honestly in the article is so freshing since I myself was in a crazy amount of debt as of last year ($22K at the peak). Essentially, I followed all the steps you mentioned (took a hard look at my total debt, got a higher ($7K more) paying job, transferred balances to a 0% card and paid off a load of consumer debt. I’m scheduled to pay off all my consumer debt by April 2011.
If you have poor credit/no credit, unfortunately you won’t likely be able to qualify for many of these other options. However, there are a number of companies that specialize in helping people exactly like you. These companies are called “Debt Relief” services and are for those with over $7,500 in credit cards, medical bills, taxes, and other unsecured debts and poor/no credit. 
“Clients who are able to stay with the program and get all their debt settled realize approximate savings of 50% before fees, or 30% including our fees, over 24 to 48 months. All claims are based on enrolled debts. Not all debts are eligible for enrollment. Not all clients complete our program for various reasons, including their ability to save sufficient funds. Estimates based on prior results, which will vary based on specific circumstances. We do not guarantee that your debts will be lowered by a specific amount or percentage or that you will be debt-free within a specific period of time. We do not assume consumer debt, make monthly payments to creditors or provide tax, bankruptcy, accounting or legal advice or credit repair services. Not available in all states. Please contact a tax professional to discuss tax consequences of settlement. Please consult with a bankruptcy attorney for more information on bankruptcy. Read and understand all program materials prior to enrollment, including potential adverse impact on credit rating.”

Call a center in Texas near you to learn about state of Texas and federal government mortgage program. There is free housing counseling offered at the same time as enrollment into debt management plans. The bottom line is that people who need help paying their bills can contact a non-profit credit counseling agency in Texas for low cost, or sometimes even free advice. The phone numbers to call to apply or enroll for assistance are listed below.
Note: Federal regulations require credit card issuers to disclose on your credit card statement how long it will take to pay off your estimated balance if you make minimum monthly payments. Estimates may be rounded up to the next $100. This debt calculator uses your actual credit card balance, so the results may vary from the estimate shown in your credit card statement.
Fortunately, there are several methods to reduce debt – and maybe even eliminate it – in a consistent and logical manner. This can be done on your own, if you have discipline, but it’s often beneficial to partner with financial professionals, who can negotiate lower rates with lenders, refinance homes or create budgets that keep you on the right course.

It’s important to remember that all debt consolidation companies receive negative reviews from clients who don’t feel that they got the results they wanted. You will always see a mixture of negative and positive reviews, so try to take an even-handed approach. According to most people who have left National Debt Relief reviews, National Debt Relief can help you find medical debt relief, business debt consolidation and other strategies that quickly repair your financial circumstances. Some people are beyond the abilities of National Debt Relief, but chances are you can get the assistance you need.


We are really happy to hear that you found the help you need with your debt via CareOne Debt Relief Services and we appreciate your post explaining the services we offer. We have some exciting changes coming up on our site. We are stepping up our game with the information and resources we provide to people to help them not only get out of debt, but to also STAY debt-free. We hope that you will come and check us out at http://www.CareOneCredit.com and let us know what you think!
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