Dealing With Your Debt: The Real Solutions

| August 18, 2015 | 0 Comments

People who have never experienced debt offer advice so freely, don’t they? They tell you to keep looking for work, manage your budget and tighten your belt. It soon becomes abundantly clear that they have no idea what they are talking about because they have never been in your shoes. They have never had to handle the problem for themselves and known the type of issues that can arise through debt troubles. So, take this advice from someone who has been in your shoes instead. I know what you’re going through if you’re facing debt and more importantly, I know how you can get out of it. This is what I did to get rid of my debt.

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  1. Applied For Job Seekers Allowance

The first thing thing you should know is that my debt was kickstarted by being made redundant. So I immediately applied for job seekers allowance as soon as I start looking for a new job. This ensured I had some money coming in each month so that I could stay on top of most of the bills. It was a nice safety cushion at first, but I soon found it was not enough to keep me debt free. The bills kept on piling up.
 2) Started Working In Spare Time

I didn’t do this straight away because I was hopeful I would find another job quite quickly. Once that did not occur, I started to panic and began to look for jobs that I could do from home online. This was important because I wanted to be around my family and not constantly looking for jobs. I found that you can complete questionnaires online and earn money. Doing this, I could earn about ten dollars per day and sometimes more. This was not a huge amount, but it helped me in a small way and was enough to get a handle on the bills.
3) Consolidation

At this point, there were a lot of payments that needed to go out each month, and I was struggling to get through all of them. I would often forget to pay one bill, focusing on another and found I owed even more money at the end of each month. It was getting out of hand, so I simplified things by consolidating. Consolidation loans allow you to put all your outgoing payments in one package that you pay each month. It makes them easier to handle and overall, reduces the amount that is going out of your account.
4) Utilized My Assets

Consolidation was helpful for dealing with the debt, but I still needed more money coming into my account each month to pay off the debts. I found out online that you can rent your car for a profit when you are not using it. I was thinking about selling the car but by renting it I soon had a solid form of income coming into my account at the end of each month. I used this to pay off the rest of the debt and was soon back on my feet.

A few months later I was able to find a new job, and the situation has stabilised. I hope you can use these solutions to do the same.

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Category: Debt

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