5 Top Ways To Lower Your Debt in 2022
Financial experts prove the following programs can eliminate debt and help anyone quickly get out of financial hardship.
Debt And Stress Go Hand in Hand
It’s no wonder most Americans are feeling overwhelmed. According to CNBC, the average household carries around$17,000 in credit card debt and $90,460 in overall debt.
And if you have any debt – no matter how small – then you know only too well how it may adversely impact your mental health and can leave you feeling depressed, anxious, and overwhelmed. As a result, anytime you’re required to spend money, even on simple things like food to eat or gas for your car, can cause even further stress.
How To Be Debt Free In 2022
That’s why we will show you how to lower – and even eliminate – your debt quickly and easily with these top Debt Relief Strategies for 2022.
Which Is the Best Debt Relief Option For You?
It is essential to know your options for debt relief in 2022.
You can do that by looking at all the available options like Low-Interest Debt Consolidation Loans, IRS Tax Relief, hiring a reputable Debt Relief Company, consolidating your debt into zero interest credit cards, and even filing for Bankruptcy.
The Best Debt Relief Options
Find out how you may get rid of debt and high monthly payments, even if you have bad credit. Select the options that interest you:
1. Debt Relief Companies:
A debt consolidation company works on your behalf to lower and eliminate your debt with your creditors. Debt consolidation can make a lot of sense for people with a high level of debt or paying many bills. In these tough economic times, many Americans are faced with significant credit card debt and are looking for help reducing their monthly payments. Debt consolidation is often used in this situation and helps consumers simplify their budgets.
2. Debt Consolidation Loans:
The basic premise behind debt consolidation is to trade all of your debts for a single new one at a lower interest rate. Debt Consolidation Loans make it possible to pay off your old loans with higher rates with money from the new loan at a lower rate. In many cases, people trade in a credit card rate of 24% into a new loan rate of just 1.4%. It also consolidates all of that information into making it easier to track your debt repayment progress.
3. Negotiate Back Taxes With The IRS
The IRS offers several different programs to help you get back on your feet and reduce or eliminate your tax debt. Over 1 million people have used these programs to settle their tax debt for less than they owe.
- Chapter 13 allows people with a steady income to keep their property. This bankruptcy plan allows filers to keep a mortgaged house or car they might otherwise lose in the bankruptcy process.
- Chapter 7 is known as straight Bankruptcy. It involves liquidating all assets not exempt under federal or state law.
4. Zero Percent Credit Cards
The average American household has over $17,000 in credit card debt alone. As we mentioned, earlier many people are paying upwards of 24% interest. However, if you have reasonably good credit, plenty of credit cards out there offers zero percent (0%) interest. Apply today, and you’ll see how quickly you’ll be able to pay off your credit card in no time.
5. Filing for Bankruptcy
In the past, many people looked upon bankruptcy as an adverse event. However, using bankruptcy wisely may help you lower your debt, and in no time at all, you will be back in a much stronger financial position. But, before making such a move, learn the facts behind this popular form of debt relief.
Search The Best Options Today
Many people feel a sense of renewal after consolidating and eliminating debt. Follow one or all of the options above to get back on your feet again. Search your options today.