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Posted in Paying Your Bills
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MarquitaY

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I really need help to get out of debt. I do not know what to do in order to accomplish that.
I understand that this site is supposed to be helpful, but everything sounds alien to me. Can someone please simplify the process so that I can understand it and get out of debt.

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The prime purpose of Credit arma is to teach people how credit works and how to improve one's credit score.  There are a good number of articles presented here to help with that topic. 

For help in gwetting the debts resolved, I recommend you search for Dave Ramsey's site.  He has some very sensible ideas to help in getting debts paid off.  It likely won't be fast but it took time to get into debt, so it will take time to get it paid off.  You can do it!!!

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Bottom line the process involves you "paying your bills!" Not trying to sound like a smart butt by saying that.... There are a lot of things to try. It also depends on what type of debt as to what strategy you would use.  Like if you just have a mountain of debt, doing a debt snowball would be your best option.  This is when you pay off one bill and take that monthly payment and add it towards the sum of another monthly payment. Example if I had one bill that was $25 a month and another for $45. Pay off the one that has the lesser balance first and consolidate the payment for the next bill.  If you paid off the $25 a month bill first, then add that towards the $45 a month payment making it $70 a month that you are paying on the $45 a month. Continue the strategy for all your bills until you pay everything off.  Snowballing your payments will allow you to pay things off faster.

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