Eight Steps to Fix Your Broken Credit

Debt problems destroy your credit history and isolate you from a host of economic privileges and opportunities. If your credit report was a wake up call to get out of debt, you may be wondering what to do next. The first step to stop the hemorrhaging is simply to not borrow another penny until you are completely out of debt. The rest of this article will only benefit those in debt willing to make this commitment.

1. List your debts.

2. Call every place you owe money.

3. If possible, consolidate all your debt into the lowest possible interest rate.

4. If you can't consolidate everything to one low interest rate, pay as much as you can on the debt with the highest interest rate while paying the minimum on everything else.

5. Put your high interest rate cards someplace safe.

6. Try to reduce your fixed expenses and use the difference saved each month to pay off your debt.

7. Make one-shot reductions in your debt.

8. Take drastic measures until debt-free.

Read more from David John Marotta