Questions about Debt?

Question

I'm trying to find out what outstanding debt I owe and to whom. Is there a website or a way to find out where to locate this information. I need to start paying off debt but I don't know where to start.

Answer 1

Absolutely.   The federal government passed a law that allows you to get a TRULY FREE copy of your credit report from ALL THREE credit bureaus once every year. Go to www.annualcreditreport.com to get these free reports.

Answer a few simple questions and you can print them out on your own printer or have them mailed to you.   Get the report from ALL THREE bureaus ... as sometimes they have different information.   And often there are errors ... and if so ... you can file corrections / disputes online as well.   Good Luck.

FOLLOW-UP:  For assistance on paying off your debt ... check out Dave Ramsey's books or website and search for "DEBT SNOWBALL".  Ramsey has some great tips for getting debt free and staying that way ... plus ... just getting financially secure in general.   Good Luck.

Answer 2

G-Man is totally right on.  I am a Dave Ramsey follower and have recovered from bankruptcy and short-sale on my house.  First rule is pay off the smallest debts first, not the highest interest rates as you would normally think.  This way you feel like you are accomplishing something.  Also, from Suze Ormand's books, I learned to pay down credit cards to just 25% of my credit limit on each.  Don't want to pay completely off.  Just doing that improved my credit score quite a bit!  Suze and Dave don't agree but I am just not ready to completely live on cash as Dave says....great idea just not practical in my situation.  Good luck!

Answer 3

I own a debt/credit consultation business. If you would like some free advice or for me to look into your situation a bit more give me an email at

[e-mail].

I am always willing to help and give a bit of advice since this is what i do for a living

My name is Aaron

Answer 4

Free credit Report.com is a good place to start (pay the extra for all 3 reports) you will have a good picture of your total debt and then you can begin to make headway in the largest and/or most urgent first then over time with good payments you will get caught up.