How to be debt free?

This post would help you understand which strategies are needed to stay debt free. I believe that our weapon in this concern is knowledge, more we have we can go for easy and secured settlement for our debts.

Few hard facts about debts:

Do you know?

* Over 40 million households in the U.S. have over $25,000 in unsecured debt.
* The average American carries over $9,000 in credit card debt alone.
* Americans are playing with fire by maintaining an average credit card debt load approaching $10,000 per household (Source: CardData.com),
* America owed a total of $895 billion on credit cards at the end of May (Source: Federal Reserve) --
American families must take steps now to end the vicious cycle of debt. "Debt has become a growing problem, and many Americans need to find a solution.

But what is the best way to a debt free life?

We have to face many unplanned and unexpected situations where our budget is failed and we have to owe a lot of credit card debt. Outcome of this period is that a big part of monthly income goes for credit card payments, and to balance it if you choose to pay a little money then your debts increases with the time.

Debt settlement is a completely legal, logical, and ethical way to get out of debt. Your incentive to settle is to avoid bankruptcy and to ethically discharge your debts.

Many debt consolidation / credit counseling programs will irreparably damage your credit, saving you little or no money, and this process usually takes a very long time. If you are lucky to find a company which is involved in passing legislation to regulate the Debt Settlement and Consumer Credit Counseling industries, then you would be getting a quality of service, expertise, and value without rival in the debt reduction industry. You can become debt-free in as few as 12-36 months by employing debt negotiation and debt settlement techniques provided by the same kind of companies.

One of my friends who believes in frugal living and budgeting is always in trouble by taking more loan for unexpected expenses. She told me that-----

'Debt consolidation services usually work for your creditors, earning a percentage of what you pay to your creditors. In most cases, you will be expected to pay 100% of your debt, plus interest, by making smaller payments over a longer time period. Because debt consolidation companies make their money by earning a percentage of the amount you pay your creditors, their incentive is to get you to pay 100% of your debt, rather than to try a debt settlement strategy with your creditors.

Credit Card Debtis very easy to take, and it is a common practice that every person carries many kind of credit cards as it is very easy way of getting money. The credit card industry is a multi-billion dollar a year industry and only making your minimum payments each month helps to make that possible.
Source of facts and other information: Superior Debt Relief