Control Your Debt and Regain Control of Your Life – Write Off Your Unfair Credit Agreements!
Control Your Debt and Regain Control of Your Life – Write Off Your Unfair Credit Agreements!
If you’ve amassed a lot of debt, you’re probably feeling a little lost in the world right now. You may be wondering how and when your life started to spin out of control. The fact is the loss of control you feel right now is a direct result of the accumulated debt and poor financial decision making you’ve been perpetuating by avoiding responsibility when it comes to your money. In order to regain a sense of balance and control of your life you need to take charge of your finances and debt right now. The first step in doing this is to set up a chart or graph that shows you directly where your money has been going. Get all of your bills, loans, credit card receipts together and add it all up and list exactly what you spend your money on and how much of it you spend towards those particular purchases. Once you’ve done that you will have a picture of your spending habits right in front of you telling you what you might be doing wrong. From this chart or statistical graph, calculate how much money you could and should save by eliminating wasteful spending and spur of the moment purchases.
Ask yourself ‘Did I really need to buy that?’ and that will tell you what to cut out of the budget you’re about to create. Creating that budget is the next step. Devote more money to high interest loans and credit card debts. Allocate more of your income to these bills and less of your money to needless and wasteful purchases. Give yourself a cash allowance for everyday needs and stick to it. And that cash allowance should be relatively low.
Next, see what material items you might be able to sell. Take that money and immediately put it towards paying off your debt. Try to “downgrade” the larger purchase items, such as your car, buy trading or selling it and getting a different vehicle that is far less expensive. Money saved is money earned.
Finally, be patient. This is a process that isn’t going to solve your money problems in one night. It will take many months of disciplined spending and budgeting, along with wise financial decision making when it comes to your spending. Give yourself monthly, semi-annual, and yearly targets or goals. Chart how well you are doing when it comes to achieving these goals. By holding yourself accountable, you’ll soon feel a lot better about yourself and your financial standing and that’s when you will start to take back control of your life!
Owing money to someone leads to a feeling of helplessness. A person can easily feel powerless and extremely vulnerable when they know that someone is holding an IOU marker over their heads. Regain a sense of empowerment. Make it important to yourself to not owe anyone anything, or at least as little as possible. If you want to be in control of yourself, take back control of your finances now!
If you have credit agreements taken out before April 2007 there is a new unenforceable credit agreement claim which is becoming more and more known about here in the UK. It is possible to have your credit finance agreements –agreements such as credit cards, store cards, secured and unsecured loans, car finance agreements, and those with payment protection insurance ( PPI) ‘audited’. They may not comply with the terms of the 1974 Consumer Credit Act and if they do not they are unenforceable credit agreements. This means you can claim to have them written off. That is the balance completely cleared.
About the Author
Jo is a writer, teacher and debt management expert. She writes from first hand experience of the subjects she describes. If you would like more tips and advice on debt, debt management, consolidation loans, credit card debts or anything else to do with finance visit her site Credit Cards Written off at http://www.creditcardswrittenoff.com
