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Debt Relief and Calculating Your Debt

Pencil-erase-Debt-relief-Axsmith-LawThe first step to getting control of your finances is to make a list of your debts.  Make sure it includes the following information:

  • The lender’s name
  • The amount you owe
  • The term of the loan
  • The interest rate and fees

Add it up.  It may be really hard to do, but you need the clarity to get financial control over your life.

Debt Relief and The Power of 50

Paying the minimum amount on your credit card debt will make sure you stay in debt for a very long time.

Paying just $50 above the minimum amount due each month will make an incredible difference in how quickly you can pay down what you owe. If you pay an additional $50 per month toward your $3,000 balance for a total payment of $110 a month, you could pay off the debt in 3 years instead of 8, and save yourself over $1,800 in interest. Imagine what you could do with $100 more per month.

It’s a hard lesson for us all.


Debt Relief & Settlement

If your debts have gotten out of control, phone Axsmith Law LLC at (202) 285-5415.

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