2 steps for paying off debt

 There are many techniques that can help you keep your debt levels low and protect your credit score.There are many techniques that can help you keep your debt levels low and protect your credit score.

Even with careful financial planning it's difficult to avoid debt. Expenses and long-term bills, such as mortgages and student loans, add up quickly. There are many techniques that can help you keep your debt levels low and protect your credit score.

Don't just pay minimums

When budgets are tight, it's tempting to reduce expenses to their absolute minimums. While this can help in the short term, it leaves large unpaid balances for the future. The Motley Fool writes that the longer charges go unpaid, the more interest accrues and the harder it'll be to reduce debt. Even paying a couple of dollars more per month can help you reduce the amount of payments you'll have to make.

Leverage your assets

If you own your own property or vehicle, you can borrow money against its value by using a title or deed as collateral. Options such as auto title loans give borrowers funds that they wouldn't have otherwise. While this solution does create a new bill, it can be a fiscally sound choice if a loan's total cost is less than your debt.

CASH 1 offers title loans on almost any type of vehicle. The payday lender can help you access the money you need to pay down your debt.

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