9 Tips to Get Your Finances Back on Track
By: Source: AARP Bulletin Today Date Posted: 2003-06-30 15:42:36
How do you get your finances back on track? Here's what debt counselors suggest:
• Admit there's a problem that is out of control. Act now.
• Itemize household and living expenses. Highlight essentials—house, utilities, transportation to work.
• Prioritize debts. Protect your home first. Credit card and medical debt can wait.
• Call your creditors now. Explore bill-paying options.
• Do not refinance credit card debt with a home equity loan.
• Get professional help.
• If you live on a low, fixed income, consult a local legal aid society, and learn your rights.
• If you can begin a debt repayment plan, work with an accredited nonprofit credit-counseling agency in your state.
• Cut up your credit cards, and pay by check or cash.
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