During the process for repairing your credit, debt reduction with the
goal of debt elimination is the typical starting place for most consumers.
Having the burden of financial debt, the
stress of debt elimination and the necessity of juggling money from one place to another to cover costs here and there takes up a lot of time and this is lost time that could be used for other more productive purposes.
Whenever someone accumulates too much debt and finds it too difficult to repay, resorting to some
kind of debt elimination program is the smart way to go.
It would do no good to engage in a fancy, schmancy strategy
of debt elimination if they continue to add to the tab.
When I have previously outlined our Blueprint real estate investing strategy, I have usually given examples that involved the leveraged acquisition of quality assets followed by an aggressive
campaign of debt elimination to produce maximum cashflow at retirement.
The only way you are going to progress towards your
goal of debt elimination is to focus on the task at hand and make positive steps every day based on the plan that you are setting forth to achieve that goal.
The education that you get from working through this
process of debt elimination and debt freedom will mean you will have more control over your finances than the majority of the population, and in doing so, you can look to bigger and better things in the future that you will be able to pay for in cash should you decide to reward yourself.
Both of these debt elimination strategies are complex legal processes.
Other FAQ's on this site address
each of these debt elimination options individually.
He will explain
all of your debt elimination options in a clear and easy manner.