In are last post we talked about some simple things you could do right now to get out of debt. In this post I’m going focus on some more advanced ways. However some of these tactics should only be done after you have completed some of the basic task first.
You can review the last article here.
Call The Mortgage Company
If the bills are getting to be to much and the cash is getting to be a bit tight you may want to think about calling your mortgage company. Why?
If your facing a lot of issues with keeping up on your bills sometimes just calling your mortgage company and talking to them about your situation could be all that you may need to do get a little breathing room.
If you wait until it’s to late the mortgage company won’t be so kind. In fact you may want to call them before you start having any major issues with your debt or credit. This way you may be able to refinance at a lower rate.
Even if you are have issues paying your mortgage payment give them a call who knows they may have a program that could help you out. The last thing a mortgage company wants to do is go through another foreclosure again. So give them a call.
Negotiate A Deal With Your Credit Card Company
Want to pay less on your credit card payments? Call your credit card company and ask them. You heard me call them. You might think they would just say no but that is the worst thing they would say.
So how do you do this?
Simple call them and explain that you can’t get ahead on your payments and will be forced to miss payments on your credit card. Tell them you need a lower rate and if they don’t like that idea ask to talk to their supervisor. If the supervisor won’t do it, hang up and call them back tommarrow.
The chances of you getting the same customer support person on the phone is slim. Again ask them to lower your interst rates. Do this everyday until they lower your rates.
Get A Part Time Job
If time allows a part time job will help you bring in a few bucks to put toward helping you pay off that debt. Even if it were just an extra $100 think of how much stress that could eleviate from your life.
The great thing about part time jobs is they are a lot easier to come by then full time jobs. I once new a guy who took up a paper route to pay off his debt. Just something that simple got him back in control of his finances
If you are interested in a part time job here is one I’ve been recommending to people latley about working with the census bureau. Check it out here.
Sell Something You Own
This idea right here is how I built up my entire emergency fund from scratch. So how did I do it. First off, I put my mind to it. I decided that enough was enough and decided to sell my snowmobile I had owned for several years.
It was tough at first because I really didn’t want to sell it but I knew if I did the pressure I was facing with my finances would go a lot smoother. So I put my mind to it and started talking to people who would like to by my snowmobile and in one day I had it sold and $1000 in the bank.
I thought it worked so well selling my snowmobile so I decided to give it a shot and sell my timeshare while I was at it. A few weeks later I had it sold and money in the bank.
Now, I know not everyone has big items to sell around their house but it really doesn’t matter if you make $5 or $5000 from selling something you own. The point is to use that money to cut down your debt and stear yourself in a better financial direction. So go ahead find something around you house and sell it.
Start A Part Time Business
Have you ever heard the phrase…
If you feed a man a fish you feed him for a day, but if teach a man to fish you feed a man for life.
If I teach you how to get out of debt I’ve really only done half of the job for you here at Stumble Forward. Just getting out of debt is not enough. You also need to learn how to prevent yourself for falling back into debt, and the best way I can teach that is by teaching you how to start a business of your own.
I’m not going to go into detail about why you need to start a part time business but if you would like to learn more about this option you can learn more here. Also if are looking for some ideas of what kind of part time businesses you can start by checking out these options.
Chris