Paying off Credit Quicker
Are your debts getting on top of you? In my experience is so easy for your debt to sneak up on you without even realising. You max out on one credit card so you apply for another one to go on holiday. You then get a loan to consolidate but then start using those credit cards that you've paid off.
This happened to me. In order to get myself out of debt I put the following things in place. It took time for me to do it and I'm not completely debt free but I'm nearly there and I don't worry about opening letters from my bank any more.
The first thing I stopped was using credit cards for things that I didn't need. I started to save up money instead of using the credit card. I stopped impulse buying, buying only the things that I needed. I only spend what I can afford in the month and don't use credit now.
I started selling things that I had in the house that I didn't need. I went to table sales and also car boot sales. I even got a friend to sell my football programmes and records on e-bay. It was worth it because I had extra money and even afforded a week away in New York for my girlfriends 40th birthday.
I listed all my debts and how much I was repaying. I then approached the banks and credit card lenders to ask them for help. I was able to get the interest frozen on my credit cards so that what I was paying each month actually paid off the debt not just the interest. Loans were renegotiated so that I paid less each month (though the loans did stretch for a couple more years costing me more in the long term).
I also looked into getting a Individual Voluntary Arrangement (IVA) but decided against it because though some of my debts would have been written off I didn't think that it was the way forward for me.
I also took a second job which I still do part time. This helped me to earn an additional income each month which I put towards paying off the debts I'd accrued. I do the hours that suit me and as I'm my own boss I have no one telling me what to do.