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Making a Plan to Get Out of Debt


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Introduction: Making a Plan to Get Out of Debt

A woman is sitting on the floor looking at bills and receipts.

© David Sacks / Digital Vision / Getty Images

Many people who have debt blindly make their minimum payments each month without a single thought about paying off the debts. Showing an interest in reducing your debt is a big step. Let one big step lead to another by finding out how to put together a plan to eliminate your debt.

When you're overloaded with debt, it can be difficult figuring out how to best tackle the debt. You have to figure out which accounts you should pay, in what order you should pay them, and how much you need to pay to eliminate your debt. By attacking each of these hurdles one by one, you can tailor a plan that fits your budget and debt load.

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