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You’re in credit card debt, often with a double-digit interest rates that can balloon over time into a monthly amount more than even your car payment. You may have sold (or lost) your home, but without much equity to go around, you have downsized with little to show for it. You’ve minimized the amount you contribute to your future—retirement, savings, investments—in the hopes of having more to pay down mounting bills.

And what has it done for you? In many instances, debtors facing these same situations find themselves no better off than before they tried to buy themselves time to get out of debt. But the truth is, you can indeed get out from under unsecured debt, even with 20-30% interest, through a plan that will leave you a little richer, thinner, and happier than you’ve likely been in a while.

Read it and reap:

Contribute 10% to your 401(k), IRA, or other chosen retirement plan NOW
It may sound counter-intuitive to contribute more of your paycheck to your retirement when you’re trying to pay down debt now. But the best advice for getting out from under seemingly insurmountable bills is learning to earn and save assets at the same time you’re dealing with debts. And while you’re adding to your assets, you’re also learning how to invest in your future. What’s even better, your retirement funds are safe from creditor clutches—even when bankruptcy becomes your best-kept debt-killing secret.

Pick a Healthier Way to Stay Insured
If you’re paying out of the nose for quality health insurance and are relatively healthy, it’s a wise to start a “health savings account” to help fund co-pays while also opting for higher deductibles to offset costs. By saving for a runny nose as opposed to a rainy day, you can extend that money each year you are not ill or injured. Even better, health savings accounts are tax-deductible, leaving you feeling better even at tax time.

Pay Down Debts By Earning More
Obviously, the more you earn, the more you can pay towards your debts. And yet in an economy of double-digit unemployment, earning more through raises, new jobs, or lucrative deals is an idea that’s hard to come by. But think about it another way: a penny saved is truly a penny earned when invested in the ways you see above. What are other ways you can earn more by getting creative? Leasing out an old addition? Downsizing your existing digs? Starting a side-job that fulfills a dream goal until you can make it a full-time proposition? The sky is the limit when looking for ways to earn more by making small changes to the way we see daily life.

Build a Better Budget
While many of us have been struggling to survive, we’ve ignored what it takes to thrive in the post-recessionary economy: avoiding squeezing the life out of our budgets in the process of trying to strengthen them. The way to add a little fun back into life is to reevaluate what it takes to fulfill the basics by reducing them by half. Sound impossible? Could you take that year-end road trip with the kids if you forego brand-names goods, café mocha lattes, and trips to the hair stylist? Maybe. But in many cases extreme debt reductions— home, car, credit cards—can mean more of a difference for moving forward in our brave new world. Look at these items first and reevaluate your needs vs. long-standing wants.

Put Your Debt on Notice
The best way to make debt more manageable is to manage your debt via payment plans. Start by contacting credit card companies and requesting a plan that fits your budget, and using the previous points to free up cash that can buttress these new payments. Correcting habits of spending outside your means can take time; but there’s no better reminder than keeping your promises to yourself to get out of debt via a plan tailored to your new, debt-cutting commitments.

Eliminate Expenses Where Possible (Even if it Doesn’t Feel Possible)
As mentioned previously, creating a better budget often means cutting big and small expenses. In this case, by controlling spending on big-ticket items (like housing, car, insurance) as well as food, clothes, and utilities, you can reduce expenses, increase income, and pay off debt quicker—all with a brand-new mentality of moderation to show for it. In the process, you learn the true value of life over luxury and are better able to experience the world unhampered by the impulse to “own it.” In short, you learn to lead life, not follow your debts…through a more informed experience.

A Bankruptcy That Leaves You Far From Bankrupt
A bankruptcy erases debts, without touching your retirement, allowing you to earn more, and build up your budget—all in a healthy way. If the credit card companies won’t budge and the benefits of bankruptcy outweigh years of prolonged paybacks, the bankruptcy experts at the Law Offices of John T. Orcutt are there to help you get out of debt NOW! Just call toll free to +1-919-646-2654, or make your own appointment online at Simply click on the yellow “FREE Consultation Now” button.

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