How to Reduce Your Personal Debt

Step-by-Step Guide

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   Step 1: Choose the right kind of debt.

   Look at all the options for borrowing money that are open to you.
   
   If you owe a small amount on your credit card, it might save you interest payments to get an overdraft to pay it off in one go, for example.
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   Step 2: Speak to those you owe money.

   Banks, building societies, insurance companies etc can all help when you 're struggling financially.
   
   Talk to any financial institutions that you owe and see if they can help. ,, Many companies reduce your bill by a small amount if you pay on line.
   
   Some even discount the bill if you pay straight away rather than paying in instalments. ,,,,,,,,
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   Step 3: Never use your credit card for everyday purchases or bills such as groceries and power bills unless you have absolutely no alternative.

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   Step 4: Look into paying online for things like power

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   Step 5: insurance etc.

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   Step 6: Remove or reduce debt interest.

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   Step 7: Try to get a postponement of payment in installments over several months until your condition improves slightly

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   Step 8: Check into getting an Extension of the deadline period to reduce the huge debt repayment

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   Step 9: Negotiate an incriminating re-credit requirements

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    Step 10: Review and calculate the value of all your assets

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    Step 11: to assess the possibilities sold or transferred to creditors to reduce debt

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    Step 12: Try Borrowing the collateral that you provide to the creditor to return pledged

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    Step 13: Sell your existing collateral to creditors

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    Step 14: Exchange debt for labor.

Detailed Guide

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