How have you managed to clear most of your debts?

Better_Off_1983

I did so by cutting back on alot of luxuries and paying more than in minumum payment.

I did go with a debt management company- that charged me a monthly fee. I saw they were not paying the creditors on time and I was still getting letters. I then worked for the same debt management company, many years ago.. it was like something out of an undercover documentary programme and saw that we had to read a 'script' to lure the debtor into a false sense of security by making them think there were going to get a loan, but instead we were over-promising saying we will freeze the interest 9 times out of 10- this is not always guaranteed. We would also advise debtors not to go to charity debt managment companies because we thought the staff there would not be able to cope with the influx of getting a free service! I later left because I thought it was unethical, making money on other people's misery.:eek:

I then went for higher paying jobs. Found a job with minimum travel expenses.

I was in a huge amount of debt, I did contemplate bankrupcy but did not want the stigma. I am proud to say that I have clearly nearly all my debt and follow a my list of creditors and work out when and if I can pay them off by the end of the year.

How have you managed to clear your debt.