If you need to take aggressive action in eliminating debt, there are options available. It’s wise to consider balance transfers, debt consolidation loans, debt management programs and more.
Watch the video to learn about Special Debt Elimination Strategies, then test your knowledge at the end of the lesson.
What is an effective way to cut down on discretionary expenses?
A. Pause streaming services
B. Take friends out to dinner
C. Unplug lighting fixtures
D. Share a phone with your spouse
In some cases you can reduce debt directly with your creditors by asking them for an interest rate reduction.
A. True
B. False
Which of the following is true about Debt Settlement?
A. You pay back a portion of what you originally owe
B. You can negotiate directly or work with a company
C. It’s a good option if your debts have gone to collections
D. All of the above