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Reducing Debt
Need help reducing debt?
If you want a partner to help accomplish your goal of reducing debt, consider getting help from Money Management International/CCCS. MMI helps reducing debt by negotiating a repayment plan with your creditors to reduce interest rates and stop collection efforts. On our debt management plan, you make one reduced monthly payment to Money Management International/CCCS that is disbursed to your creditors.
Reducing debt by plugging the holes in your budget
To take control of your spending and begin reducing debt, you will need to make very clear, conscious decisions about what is important to you and your family and eliminate the rest. Start carrying a pocket-sized spiral notebook with you at all times, and write down every purchase you make, including the amount. Even if it’s only a soft drink from the convenience store, or a trip to the drive-thru at a fast food restaurant, record it in your notepad. Most people discover that this helps then begin reducing debt and spending automatically because it draws their attention to it. After two weeks, review your notes and ask yourself if you really need all the things you buy. Also commit to tackling the big money wasters, like paying high interest charges on credit card debt.
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