What is the best way to become debt free?

I have looked and read all kinds of diffrent stuff. On debt reduction, debt consolidation,debt settlement. I know that I don't want to file bankruptcy!! Im about 8,000 in debt with-all mostly being hospital bills. I am a mother who makes about 17,000 a year, and it takes about that much to survive. So Im trying to figure out a way to get out of debt, be able to afford the payment and it not hurt my credit score. Please anyone with experience -Help!!!!

What is the best way to become debt free?
stop borrowing and pay down your debt. you may have to get a 2nd or 3rd job. if you have a car, sell it and get something that's paid for if your car is not. don't bother with people who try to fix your credit, it's better for you to learn how to manage your own bills instead of just giving the problem to someone else.
Reply:Forget your credit score. Take care of your child(ren) and pay what you can. If the hospital won't negotiate, ignore them until you can settle. Report Abuse

Reply:You can visit http://www.cashguru.info and find very useful tips and several articles on debt consolidation. Report Abuse

Reply:I have heard of this thing called a charge off, from what I know it is a way of having a debt cleared from your record, you are still responsible for it but until you can pay it off, it does not require payment and does not incur interest. But it will be on your credit and show up at times like when you want to buy a home.
Reply:The best way to be debt free is to stop using credit cards and pay of the remaining balance. You need to get more cash flow..another job on the side or something to pay it down. $8000 is not much and not worth filing for bankruptcy.





There are so many people who are always willing to help people in need as well. I've heard a story where a girl got a website and just asked for help to pay down her debt (she bought too many clothes and shoes and was a student) and she got it all paid off. So..just ask for help. If people say no, do not take it personally. Just think how you at least put yourself out there and tried.





Good luck. Oh..another thing is to have the attitude that "Money comes easily and frequently" instead of constantly thinking that you don't have money and are in debt.
Reply:Let's focus, how old is your hospital debt?


If it is not in bad debt, with a collection agency, or an attorneys office.


Check with a financial counselor at the hospital, to find out the answer to these questions.


Is the hospital for profit, or non-profit?


If they are a non-profit hospital, they have a charity program.


You did not indicate how many children you have?


Depending on the size of your family, you can fall into their financial assistance program.


Your debt can be completely written off and or reduced precentage wise significantly.


If the debt is not considerable old, you can usually set up some kind of payment plan.


They want to get paid, so they will usually work with you.


Because in most people lives, medical bills are put on the back burner forever.


If you make the payments on time as agreed, it will not hurt your credit score.


Once the debt is cleared, be sure to get a letter with the statement of that fact and keep it for your records.





You did not say what the other bills are?


Are they secured debt, or unsecured debt?


The best thing to do for these is pay them off.





P.S. Work in a hospital business office.
Reply:Well, first of all, you make about $5000 more than I do, annually. Secondly, you're about $3000 less in debt than I am. As long as the debt isn't high-interest, I wouldn't sweat it.





I was $4000 under on just one card, but had a $10,000 limit. They did a credit check and found my score low I guess, so they reduced the limit to under $3000, and I don't owe them the money over that $3000! I have no idea why they did this, but debt is no big deal unless the interest is high.
Reply:Look around and see where you can save more money to send in towards this debt. Even an extra $50 per month can knock off alot of money.





Do you smoke ? IF yes, then quit...





Do you go out and party? Then stop and put that towards the debt.





Stay out of casinos.





Start shopping smarter. I took one gal I was tutoring financially shopping with me to show her how to save money. She saved over $100 on only one trip to the store with me. She had no clue she was spending so much on groceries foolishly. Step back from your life and see just what you can do to save $.





It is NOT easy to see these things in YOUR own life, it sometimes takes someone on the outside to point them out.





Stop spending and pay everything towards that debt till its gone. Do not let yourself get back into debt for YOU deserve to be debt free and your kids deserve to have a mom who knows how to handle her finances because we reap what we sew. !!!
Reply:I am doing a consolidated deal thorough www.consolidatedcredit.org and it helps you make low payments each month without hurting your credit score. I am not sure what country you're in but this place is based out of Florida, USA. There is a monthly fee of $8.00, but I think that it is worth it! You should definately give them a call, they are very helpful!





Good Luck!
Reply:No to minimize your problem but try 25,000 in debt and really there is no one outhere to help you. EVERY company at there is out to get you. if you have access to internet do a reseach for cc consolidation and it will provide you with a lot of different companies. Of course , many of these companies are proffesional thieves so just read the small print