Debt Reduction Tips

I was inspired when I read a column by Liz Pulliam Weston this morning called Huge debts, Paid off Fast!! What a breath of fresh air to read about three different folks who were deep in debt and became debt payoff champions!!

They all have great strategies but I’m going to feature the story of Greg Cards. After his divorce he walked away with $154,000 in debt. He had a $119,000 mortgage, $5,500 in credit card debt and $29,500 debt to his ex-wife for her half of the home.
He took out a second mortgage to buy out his ex and pay off the credit cards. Shortly thereafter he transferred the balance from the second mortgage to a 0% credit card, then made $4,000 a month credit card payments to retire the $35,000 debt in under a year!! He also volunteered for overtime, picked up a second job and trimmed expenses. Lots of good everyday tips in the article. Thanks for sharing some excellent stories Liz! Read Huge Debts, Paid off Fast!

Steve Mertz
Debt Reduction All Stars!

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