3 Ways to Help You Pay Off Your Debt

Finance

3 Ways to Help You Pay Off Your Debt

Consumer debt reached 14.6 billion in the United States last year. People have been struggling with student loans, home loans, auto loans, and credit card debt for some time. However, the COVID-19 pandemic left many people out of work and out of resources.

If you are dealing with a debt that has been too challenging or costly to navigate on your own, it is best to seek professional guidance. However, debt consolidation efforts take time. You may need cash immediately to pay for the costs of living. In this case, you may need to look to alternative sources of income, like selling your unused personal belongings.

1. Sell any excess belongings

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Often, self storage facilities are packed with forgotten possessions. Some of these items can be valuable, although they have gone unused for some time. As shows like Storage Wars and Pawn Stars have demonstrated, one man’s trash is another man’s treasure. If you are struggling to pay off your debt and have a storage unit, consider looking inside.

You may not want to part with everything inside it, but there are likely a few valuable items that can help get you some quick cash. For example, camping equipment, ski equipment, instruments, and even vintage clothing can be sold. If you don’t find much luck at a pawn shop, consider turning to online marketplaces like Facebook or LetGo.

2. Get professional financial help

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Debt can be complicated. Suppose you receive collection calls or struggle with a large amount of unsecured debt. In that case, you may want to turn to a debt settlement company like Citizens Debt Relief. Everyone’s financial situation is different; some may struggle with student loans while others have credit card debt issues. Some people may need help negotiating their debt resolution with creditors.

Enrollment into a debt consolidation program can give you the peace of mind of knowing that you are protected and working towards a feasible solution. There are several ways to tackle debt, including monthly payments or settlement negotiations. Depending on your interest rates and the type of debt you have accumulated, your debt solution may vary. Citizen’s Debt Relief offers a free consultation to anyone struggling with debt.

3. Consult with a debt settlement lawyer

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Suppose you have been being harassed by creditors or are involved in a lawsuit arising out of your unpaid debt. In this case, the stress of your financial burdens may be weighing on you. The debt resolution process is stressful, confusing, and time-consuming to navigate. Consider consulting with a debt settlement lawyer. Legal representation can help ensure that your rights are protected. If you are working with a debt resolution company, a lawyer can also oversee this process.

Legal representation can be pricey, and for this reason, many people struggling with unsecured debt may be hesitant to retain a lawyer. Thankfully, several law firms offer free consultations and work on a contingency basis, meaning they’ll only get paid once you do. Scammers try to contact consumers through numerous means, including via telephone and email. When you have unpaid debts, they may target you under the guise of a debt relief service. Having professionals on your side to guide you through the debt resolution process can help you protect your finances from scams and bad faith collection attempts.

The weight of debt can be crushing. For many consumers, it weighs on their mental health and relationships with friends and family. Selling your unused belongings can provide you with some extra cash to help you with monthly expenses. Your storage unit is an excellent starting point. Depending on your financial situation, this may only be a temporary fix. Expert debt negotiators can help you minimize your debt or at least turn it into affordable monthly payments. To protect your rights throughout the debt settlement process, a lawyer will provide the specialized knowledge you’ll need to succeed.

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