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Kidd & Elizabeth

5 tips of what NOT to do when you're in debt

We found this article on "HowLifeWorks.com" of the dumbest decisions people make when they are in debt:
  1. Beware of relying on friends and family as it could damage relationships with the most important people in your life.
  2. Beware of just paying the minimum payments on your debts. This will results in your overall debt actually growing and your problems will only become worse.
  3. Beware of unscrupulous credit counselors that demand cash upfront or high fees for help they promise, but don't deliver
  4. Avoid taking out a new high-interest loan to pay off lower interest rate loans.  It may be easier to just have one payment but it will actually increase the amount you have to pay back.
  5. Declaring bankruptcy when debt settlement may work for you...
Click here for the full story.

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06/03/2010 4:57AM
5 tips of what NOT to do when you're in debt
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06/03/2010 4:39PM
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found your site on del.icio.us today and really liked it.. i bookmarked it and will be back to check it out some more later
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