There are three main methods supported for helping you rid yourself of debt. These are called the Debt
Reduction Schedule, Loan Consolidation and Timed
Debt Elimination. Each of these terms and the methods they employ are described below.
There are two important rules that must be followed to make your plan work for you. They are:
- Stick to the plan
- Do not acquire more debt!
If you do not follow these rules your plan will become invalid and will require a new plan to be created.
Take all your current debt information and project a possible solution for eliminating your debt. The
solutions generally show significant savings in interest (interest that does not go to creditors) by
following the schedule instead of merely making the same current payments.
Take all your current debts and combine then into a single new loan.
Take all your current debt information and project a possible solution for eliminating your debts within a
given time period.