How To Speed Up The Settlement Process: (How to help us help you)

We are dedicated to helping you become debt free as soon as possible. Below is a list of 8 ways to get you through the program faster:

1. Keep us up to date!. It is important to keep in mind that we do not submit a settlement offer unless we know that there are funds available so if you do have extra funds that are not in your set-aside account you need to let us know right away so we can factor that in and offer settlements sooner. Many clients fail to notify us about extra money and thus their settlement process is slowed up.
2. Tax returns. Use your tax toward settlement. Whether it be the yearly return or the one that all of us are receiving this year, use it toward your debt.
3. Home equity: It may be in your best interest to take out a relatively low interest second mortgage or perhaps re-do a new first mortgage and use all or part of the equity to settle. This would get you through the program very quickly and give you lower monthly payment at very reasonable interest. If you have equity in you your property and would like to discuss using it to then contact Karen Parkhurst kparkhurst@thedebtsolution.com and she will go over it with you. We have great loan source and we can get almost everyone qualified.
4. Other assets. You may have other assets that can be used toward the program. Anything from money in savings to a boat and anything in between could possibly speed the process. Get creative and lets get you out of debt ASAP.
5. Increased income. If you have had an increase in income, do not waste it! Send more to your reserve account. Even if it is a few dollars a month, every bit helps. Do not feel that you need to just send in the minimum amount.
6. Economize. Many of our clients have shaved their budget about as far as it will go. Some of our clients however, could economize more and increase their money to set-asides. Again every little bit helps.
7. Part time job. Many of our clients choose to work part time to make a few extra dollars. Just $25.00 per week increase to your set asides can make a big difference.
8. Refer others to our program. For every person you refer who starts the program you will receive $100.00 for debt over $15,000.00.

10 strategies to reduce your debt

1. Figure out how much you owe. Gather all your credit card statements and make a list that includes the interest rates, total amounts you owe and minimum monthly payments. List the cards by the interest rates they charge with the highest rate first and so on.
2. Keep the two cards with the lowest rates. Cut up the others. Write to the card issuers and close the accounts. (One caveat: Check the terms of use before you cancel. Some credit issuers charge higher interest rates on the remaining balance due to people who close their accounts. If this is the case on one of your cards, pay it off and then cancel.)
3. If you don't have a card with an interest rate of less than 14%, get one.
4. Resolve that you will use your cards only for essentials over the next six months. For other purchases, use cash or a debit card.
5. Add up your minimum monthly payments. Credit cards often require very low minimums. Follow them and you will be paying forever. For instance, if you owe $1,000 on a card with a 17% interest rate, experts say it might take you 12 years and cost you $979 (in addition to the principal) to pay it off if you make only the minimum payments.
6. Calculate how much you can pay over the minimum. Really stretch your budget. For instance, let's suppose the minimum payments on your credit cards total $350 a month. What could you pay if you really stretched? How about $750? No pain, no gain.
7. Apply all of your additional repayments to the card with the highest rate. If two cards have the same rate, put the additional money on the card with the largest balance.
8. Consolidate your debt. Many credit card issuers offer introductory rates as low as 3.9% for six months. If you're really serious about getting out of debt in a hurry, transfer your largest, high-rate balances to a card with an extremely low rate and pay them down aggressively.
9. Pay the minimum on your lowest rate cards until you've paid off the balance on the more expensive cards.
10. Consider using your savings to get out of debt. Sure it sounds harsh. But if you put together a balance sheet, your debt would cancel out your savings anyway. If they're in the bank, you're probably earning just over 3.2% to carry debt at 18% or more. Once you've paid off the balances, you've got to be serious about staying debt-free. If you lack self-discipline, consider using a debit card. Otherwise, pay as you go -- the entire balance on each card when it comes in.