6 Clever Ways To Crush Your Debt (2024)

DEBT HELP - DEBT RELIEF

Paying off debt is easier than you think if you have the right plan.

Last updated Feb. 27, 2024 | By FinanceBuzz Editors

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Debt is a universal struggle. High interest credit cards, hospital bills, or student loans, car payments — everyone knows the challenge. If you feel like you’re drowning in it, you’re not alone. A recent study shows that over 80% of Americans are in debt.

So how do you get out of it?

Crushing your debt is easier than you might think, as long as you have the right plan. It'll take some work and dedication, but we're here to help. Below you'll find 6 clever ways you wouldn't normally consider to help you crush your debt.

Imagine how great it will feel when you no longer have it looming overhead!

Ask this company to pay off your credit card debt

If you have a lot of debt, getting out of it can feel stressful (and nearly impossible). Here’s the problem: the longer you put off tackling it, the harder it gets to fix. If you don’t take control of it early on, it can add undue stress to your life for years. But what if there was a way to get out of debt once and for all?

National Debt Relief could help. If you have more than $10,000 in debt from credit cards, medical bills, collections, or personal loans, their representatives might be able to assist you in consolidating your debt into one low monthly program payment.

Best of all? There are zero fees until your debt is resolved, and you could be debt-free in 24-48 months. To get started, just answer a few simple questions. It only takes 30 seconds to see if you qualify!

Try National Debt Relief

Ask this company to help you pay off your late tax debt

Past-due tax debt is overwhelming.

It weighs on your mind and causes massive anxiety. You end up emotionally and physically drained. Even worse when the IRS starts sending letters threatening wage garnishment and huge fines.

Alleviate Tax is designed specifically to help you get out of tax debt faster and could reduce some of the debt you owe.

While most tax companies just put you on a payment plan and file your taxes for you, Alleviate Tax talks to the IRS directly. They can help you pay off your tax debt faster while potentially reducing what you owe.

Important: Not everyone will qualify. To take advantage of this special program you must owe more than $10,000 in past-due taxes.

Answer a few questions to get started

Borrow up to $50k to finally crush your debt

Looking for some cash to pay off credit card debt? A personal loan could help.

Our partner AmONE will match you with loan providers to fit your specific needs. Just fill out one quick application and they’ll show you multiple loan offers. There's no application fee and no minimum credit score needed to apply.

Why not check if you qualify? As long as you’re approved, you could receive your loan as early as the next business day.

Get a loan offer here

Stop overpaying when you shop online

Shopping online has its perks. It's super convenient, but it can be time consuming to find the best deals. Instead of hunting for coupon codes (that don't always work!) and opening tons of browser tabs comparing prices, you can try Capital One Shopping.

Capital One Shopping makes saving money effortless. Just add the browser extension and when you check out, it'll scour the internet for coupon codes to help you save cash. And before you check out at 25+ major retailers, Capital One Shopping will notify you with a friendly pop-up if the item you're buying is available cheaper somewhere else.

Capital One Shopping is free to use and won't show you ads. Add it today and stop overpaying!1

Get Capital One Shopping now

Cancel your car insurance

We've got bad news. You could be wasting $500 every year on overpriced, second-rate car insurance. And you should probably cancel your existing insurance right now, because there's something much better.

This new tool from FinanceBuzz can tell you if you're overpaying for your car insurance in just a few clicks. We match drivers with companies that report saving drivers up to $500 or more per year when they save! Each driver’s savings will vary by driving history and how many discounts you’re eligible for. And once you try it out, you'll never have to look for affordable insurance again because we find you the lowest rates that other companies can't match.

Oh, and it's also free. And come on — you can't tell us you don't want to save up to $500. To find out if you're losing up to $500 or more a year, just enter your zip code here, answer a few questions and see if you're overpaying. It takes less than 2 minutes.

See if you're overpaying

Pay no interest until 2025

Imagine getting an introductory 15 months with 0% interest on a big purchase or balance transfer (APR then 17.24% - 28.24% Variable). Sounds great — right? You could dramatically change your financial picture with one of the industry-leading no-interest cards — the Discover it® Cash Back(Rates and fees).

Cardholders get a generous intro APR of 0% for 15 months on purchases — that means you can cover bills, large purchases, or whatever you need to charge and not pay interest until 2025!

If you want to kick high-interest credit card debt to the curb, this is one of the leading get-out-of-debt cards available. Transfer your high interest debt to this card with a 0% intro APR for 15 months on balance transfers. Your payments can go directly to paying down your balance without incurring a pile of additional charges. That could save you hundreds of dollars in interest!

The best part? The Discover it® Cash Back card is accepted by 99% of merchants, boasts an exceptional cash back rewards rate, and there's no annual fee.

Click here to Apply Now

Get Out of $30,000 or More of Credit Card Debt

National Debt Relief Benefits

  • No upfront fees
  • One-on-one evaluation with a debt counseling expert
  • For people with $7,500 in unsecured debts and up

Visit National Debt Relief

6 Clever Ways To Crush Your Debt (2024)

FAQs

How can I crush my debt fast? ›

How to get out of debt
  1. List out your debt details.
  2. Adjust your budget.
  3. Try the debt snowball or avalanche method.
  4. Submit more than the minimum payment.
  5. Cut down interest by making biweekly payments.
  6. Attempt to negotiate and settle for less than you owe.
  7. Consider consolidating and refinancing your debt.
Mar 18, 2024

What does the 20/10 rule tell you about debt? ›

The 20/10 rule follows the logic that no more than 20% of your annual net income should be spent on consumer debt and no more than 10% of your monthly net income should be used to pay debt repayments.

How to aggressively pay off debt? ›

Make debt payments beyond the minimum.

Making more than your required minimum payment can help you pay off debts more quickly and save money in interest charges. Earmark unanticipated funds, such as your tax return or a bonus, for debt payments.

How to pay off $20k in debt fast? ›

Use a debt consolidation loan

With a debt consolidation loan, you borrow money from a lender and roll all of those debts into one loan with a single interest rate. This allows you to make one monthly payment rather than paying multiple creditors.

How to get rid of $30k in credit card debt? ›

How to Get Rid of $30k in Credit Card Debt
  1. Make a list of all your credit card debts.
  2. Make a budget.
  3. Create a strategy to pay down debt.
  4. Pay more than your minimum payment whenever possible.
  5. Set goals and timeline for repayment.
  6. Consolidate your debt.
  7. Implement a debt management plan.
Aug 4, 2023

How to pay off $15,000 fast? ›

How to Pay Off $15,000 in Credit Card Debt
  1. Create a Budget. ...
  2. Debt Management Program. ...
  3. DIY (Do It Yourself) Payment Plans. ...
  4. Debt Consolidation Loan. ...
  5. Consider a Balance Transfer. ...
  6. Debt Settlement. ...
  7. Lifestyle Changes to Pay Off Credit Card Debt. ...
  8. Consider Professional Debt Relief Help.

How to pay off $3000 in 6 months? ›

Cut spending by $500/month. Put the money into a savings account, then in 6 months use the saved money to pay the $3000.

How long will it take to pay off $20,000 in credit card debt? ›

It will take 47 months to pay off $20,000 with payments of $600 per month, assuming the average credit card APR of around 18%. The time it takes to repay a balance depends on how often you make payments, how big your payments are and what the interest rate charged by the lender is.

How to get out of debt with no money and bad credit? ›

How to get out of debt when you have no money
  1. Step 1: Stop taking on new debt. ...
  2. Step 2: Determine how much you owe. ...
  3. Step 3: Create a budget. ...
  4. Step 4: Pay off the smallest debts first. ...
  5. Step 5: Start tackling larger debts. ...
  6. Step 6: Look for ways to earn extra money. ...
  7. Step 7: Boost your credit scores.
Dec 5, 2023

Is 20k in debt a lot? ›

“That's because the best balance transfer and personal loan terms are reserved for people with strong credit scores. $20,000 is a lot of credit card debt and it sounds like you're having trouble making progress,” says Rossman.

How long will it take to pay off $30,000 in debt? ›

It will take 41 months to pay off $30,000 with payments of $1,000 per month, assuming the average credit card APR of around 18%. The time it takes to repay a balance depends on how often you make payments, how big your payments are and what the interest rate charged by the lender is.

How to get out of debt fast with low income? ›

To pay off debt quickly, focus on increasing your payments, starting with high-interest debts first, while minimizing new debt. Utilize strategies like the debt snowball or debt avalanche, and consider consolidating debt for lower interest rates if feasible.

How to pay off debt with no money? ›

How to get out of debt when you have no money
  1. Step 1: Stop taking on new debt. ...
  2. Step 2: Determine how much you owe. ...
  3. Step 3: Create a budget. ...
  4. Step 4: Pay off the smallest debts first. ...
  5. Step 5: Start tackling larger debts. ...
  6. Step 6: Look for ways to earn extra money. ...
  7. Step 7: Boost your credit scores.
Dec 5, 2023

How do I get out of debt I can't afford? ›

How to get out of debt on a low income
  1. Sign up for a debt relief program.
  2. Cut expenses to free up extra cash.
  3. Take advantage of opportunities to earn more money.
  4. Use financial windfalls to your advantage.
Feb 29, 2024

How can I pay off $40 K in debt fast? ›

To pay off $40,000 in credit card debt within 36 months, you will need to pay $1,449 per month, assuming an APR of 18%. You would incur $12,154 in interest charges during that time, but you could avoid much of this extra cost and pay off your debt faster by using a 0% APR balance transfer credit card.

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