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National Get Out of Debt Day

October 30, 2007 | Filed in: Debt | 3 comments

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October 30th is National Get Out of Debt Day. How are you doing at getting rid of your debt, if you have any at all? Is your level of debt increasing, or is it decreasing? I have been slowly paying down my debt over the past few years. I am debt-free when it comes to credit cards and credit-lines, but I still have a secured auto loan which I need to pay off and a few student loans which I’ll start repayment on in about two years. I hope that you are all doing as well, if not better than I am, at taking care of your debts.

For those who might be struggling with debt, whether it be from a mortgage or credit cards there is help out there. While making the rounds today at the different financial portals (yahoo finance, cnn, msn, etc) I noticed that MSN sponsors a credit counselor message board. They also have a short article posted on how to contact credit counselors, and what services they can typically offer. That article can be viewed by clicking here.

If you have any success stories for getting out of debt or at least overcoming significant amounts of debt then I’d love to hear them. Please send me an e-mail or just post a comment with your story!

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Tags: Get out of Debt

3 Responses to “National Get Out of Debt Day”

1. 

   Fred333 Says:

   
   

   I did not know that 10/30 was that type of day. I will have to mark it on my calender for next year.

   November 8th, 2007 at 2:25 pm
2. 

   Max Ray Says:

   
   

   All it takes to fall behind on credit card payments is one month of expenses that exceed your ability to pay. Suddenly, you’re in debt. Many people feel overwhelmed at the first sign of trouble. After all, how do you pay bills with money you don’t have?
   People who seek debt counseling are new to this type of financial hardship, and they are embarrassed and uncomfortable. The worst thing someone in debt can do is ignore it. Fortunately, there are constructive steps you can take to turn your finances around and get out of debts. They are as follow:
   > Make a solid plan for attacking your debt.
   > Keep only one or two credit cards.
   > Make your payments promptly.
   > Cut out luxuries and extra items you can live without.
   > If you own a home, look into a home equity loan or line of credit.
   > Renegotiate the terms of your loans with your creditors.
   > Borrow against your life insurance or the savings in your 401(k) account.

   November 5th, 2008 at 10:18 pm
3. 

   OneAdvice Says:

   
   

   I love the idea of a National Get Out of Debt Day - maybe it should be a world wide thing

   Keep up the good work on this blog, it makes a very interesting read - i’m going to add it to my Google Reader.

   December 10th, 2008 at 8:10 am

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