Do you feel as if debt was a noose around your neck slowly growing tighter and practically strangling you to death? If this is the case, here are six suggestions for things you could do that would help you not deal with it.
Be an Ostrich
For hundreds of years animal experts thought Ostriches stuck their heads in the sand to avoid danger. Now we know they do it to look for water. But if you want your debt problem to get even worse, just stick your head in the sand and ignore it. Pay no attention to those notices that you’ve missed a payment (or more) or those nasty phone calls. If you have caller ID, you can learn to associate certain phone numbers with your credit card companies or debt collectors – and just ignore the calls. Life will feel so much more pleasant if you don’t have to listen to those people demanding you send them immediate payments.
Apply for a new card(s)
If you’ve maxed out your current card or cards, just apply for a new and one and keep on charging. If you’re in for a penny, why not a pound? I mean, if you already owe $21,000, what’s another $2,000 or $3,000? Heck, it’s only money, right?
Keep making just the minimum monthly payments
If you do want to pay something on your credit card debts make sure you pay just the minimum amounts due. That way, you’ll probably never get out of debt. Here’s an example of what I mean. If you owed $5,000 on a credit card and made just a minimum monthly payment of $50, congratulations! You would never get out of debt. In fact, two years from now, you’d still owe the $5,000. All you would have done is paid your interest charges. If you were feeling really flush, you could up that payment to $100 a month and you’d be out of debt in just … wait for it … just nine years.
One sure way to stay in debt is to not have a budget. Pay no attention to your spending. How much did you spend on groceries last week? How about entertainment? Did you eat out a lot or hang out with your friends at a bar or club every weekend? You say you have no idea where you money goes? Good for you. You’ll probably be in even more debt a month from now than you are today.
Spend every cent you earn
Don’t save any money. Spend every nickel you earn. Don’t’ have an emergency fund. When your car breaks down or you have a medical emergency, no problem. You can just run up more debt. Only a chump would have the equivalent of five or six months’ earnings stashed away for an emergency. Live for today and let tomorrow take care of itself.
When all else fails
When you reach the point where there’s no way you could pay off your debts ever – let alone in three or five years – don’t panic. You can always file for bankruptcy. You could find an attorney who’d do a chapter for $500 or less. What a great investment that would be. You’d spend $500 or so and get rid of more than $20,000 in unsecured debts. Of course, a bankruptcy would lower your credit score probably by 200 points and you wouldn’t be able to buy a house or car for maybe three years. And the stain of a bankruptcy would stay in your public record for like forever. But so what?
On the other hand
On the other hand, your goal is to get out of debt, call us. If you put us to work, we’d negotiate with your creditors to get your debts slashed and then help you with a plan that would get you debt free in 24 to 48 months. We’ve helped thousands of American families and stand ready to help you.