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I am in debt are there ways to get out of it?

2 Answers
Last Updated: 08/20/2019 at 9:16am
1 Tip to Feel Better
United States
Moderated by

Danielle Gonzales, PsyD


Hello! My name is Dani, I am a Psychologist and registered Psych Assistant. I have a passion for helping a different types of clients from all diverse backgrounds!

Top Rated Answers
May 22nd, 2019 2:42am
You can absolutely get out of debt :) Depending on how motivated you are and how much you owe will determine how long it will take to get out of debt, but if you stick to a plan, you will get there before you know it ! I have always been a big fan of Dave Ramsey. If you google him, it will bring up his website where you can see exactly how to get out of debt... and it is free information. He basically breaks everything down into 10 “baby steps” which, once followed, will make you completely debt free !!
August 20th, 2019 9:16am
A lot of what keeps us in cycles of debt is the feeling of overwhelm. "I could never pay that, I will ALWAYS be in debt" But most debt in my experience and reading can be paid off by thinking in small steps. Lets say you are in debt 2000$. Both the person paying it off and the person getting the payments, largely (unless corrupt) want the debt to be paid off. So a dialogue between the two of what is possible should be entered into. If you know that you can only pay 20$ a week for the first few months, this is what should be aimed at. Keeping control of what is possible. Panic would sometimes drive us to pay off the first debt with another debt, which would usually incur more fees more interest. Asking for help is also possible. If one has a family member with money, families usually don't charge so much interest. Some employers also offer advances that could lessen your interest by paying it off faster. But make sure decisions are based not on panic, but on continual small bites that will end in eating the whole debt pie. Similar to losing weight. You won't lose 100kg instantly. Building a house takes one step at a time, and most debt will also take one step at a time. Don't get overwhelmed. Stay calm and pay what you can.