Debt Free in 2014? How to get there

Debt is a stress in life that will never go away until you decide that it will.  The power is all in your hands and not in the power of outside sources.  You must decide what steps you need to take to get debt free and start living a financial healthy life style.

It is hard to take the plunge into dealing with debt due to the crazy life style this economy has put us all in.  Most people live in fear of not knowing that they will have a job tomorrow or if they will find a job tomorrow that will afford them of paying off their debt.  These fears only paralyze a person from ultimately dealing with the debt issue immediately which means that the stress of debt will linger for years and not months or days.

The tragic outcome for most people who are paralyze with debt and do nothing is a lifetime of debt issues that a person may not be able to shake.  These are tax liens, tax levies, judgments, judgment liens, garnishments or student loan defaults.  Many people deal with debt when it is a little too late and as a result the fore mention become reality which limits your ability to have a full recovery of debt and have financial health.

So what should you do if you plan to be debt free in 2014?  The first step is planning how to deal with your debt. A lot of people say to me that they do not what to file bankruptcy because their life will be over.  I am not sure why anyone would think that is the case because that statement is totally untrue.  However, bankruptcy is not the only way to deal with your debt.  It is the best solution for a quick and clean way of getting the financial health you seek.

If not bankruptcy, you can consider working out your debt by debt settlement.  If you have credit card debt only, you might be able to resolve your debt by settling the outstanding balance with your credit card company for less than you owe.  Another option is if you owe tax debt, you might consider an offer in compromise, like debt settlement, the IRS or state may settle your tax debt for less than you owe.

Irrespective of any of these choices, the key to success is making a plan to accomplish your goals in 2014.  You should start today and not wait until January 2014 to make a plan for you want to be debt free in 2014 and not 2015.  Any of these choices you chose to deal with your debt will take time to prepare and to save to pay for.  Each one of these steps will cost you some money to execute but the amount for the service will be minimiumal compare to the amount of debt you need to resolve.

I know this all sounds great but those fears are creeping in and you like to put off planning.  I will give you one demonstration why you need make a plan to deal with debt.  If you owe $15,000.00 on credit card debt and your interest is 10%, each month you are losing $125.00 a month of your income.  We all know that 10% is a low interest rate for credit cards with a balance of $15,000.00 but you get the point.  The longer you wait to deal with debt the more money you will lose over time.

So do not let your fear paralyze you and stop you from making a plan.  Remember plans do not have to be completed in a day or two but can be completed over months.  I would suggest that you meet with an attorney to discuss your options and develop a plan to deal with your debt.  Attorneys who have the proper experience will be able to help you with any type of debt issue or options.  I do not recommend an attorney or a nonprofit debt settlement company that only can provide you with one of the options to consider.  Your time is limited and you want a professional that can see your entire debt stress and give you all the options in one location.  Besides, attorneys with one ability or a debt settlement company with one option will push you into the direction of their limited ability because that is all they know.  Understandable but your financial health needs the proper attention.

So, start getting your plan for 2014 and begin living a financially healthy life style for your future.

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