David Bach: Pay Down Your Debt in 2011
Did you join David Bach in the last Live Chat? He shared his best advice with consumers on how to pay off debt. See the selection below from the Live Chat, and be sure to join David Bach in the next Live Chat.
Question: Why do you sometimes advocate paying off the smaller interest rate credit cards first as opposed to cards with higher interest?
David’s answer: Small credit card debt can still cost you a fortune if you are late on a bill. In my opinion, the faster you can reduce the amount of credit cards you have, the better—but keep the cards open; don’t close them. Keeping them open will ultimately help you improve your credit score as you pay down your debt.
In this month’s Debt Sense, David Bach helps you identify some important steps you can take to get out of debt in 2011. As you may know, this year his mission is to help one million people pay down a billion dollars in debt and start a new life free of debt—and you can be one of them! Click here to read David’s eleven steps to get out of debt in 2011.
Have you joined the pledge to be one of a million Americans paying off a billion dollars in debt? If you haven’t already joined the movement, you can be one of them! Make your commitment today and be part of the movement.
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