Being in debt can be very depressing. In the United States the average debt is more than $15,000. A lot of people are living month to month with very little left out of their paychecks because of their debt problem. We are going to show you how you can get out of debt fast using 7 proven tactics.

Can you imagine how great it will feel to live debt free? It’s a great feeling knowing that you do not owe anybody a single cent and it is certainly possible to go from a position of debt to a debt free position. You need to be smart and follow the proven tactics in this article.

Get Out Of Debt Fast

1. Get out of Debt Fast by knowing your Debt Position

You need a plan if you are going to get out of debt fast. That plan starts by knowing what your debt position is right now. You may be fearful of knowing just how much debt you have or even have feelings of guilt. You have to overcome these things and take action.

The best way to understand your current debt position is to use a spreadsheet to record everything. You need to include credit cards and any loans that you have. Your credit card companies will tell you the amount that you owe and the applicable APR. So be sure to record this.

If you have loans then your lenders will tell you what is outstanding as well. It is important that you can see the whole picture. When you first look at the spreadsheet and realize how much debt you are in it might depress you. But always keep this in mind:

  1. There will be a lot more people that have a much larger debt problem than you do
  2. Starting today you will be reducing your amount of debt

2. Take a Look at your Income

OK in order to get out of debt fast you will have to pay more than you usually do to clear credit card balances and loans. You need to work out how much you can afford to pay each month with your current income.

If your current income does not provide you with a lot of scope to pay more then you need to find a way to increase your income. Can you get a promotion or a raise at your job? If it is possible for you to work another job then look into that. What about a part time business that you can work from home to provide you with the additional income that you need?

3. Get out of Debt Fast by making the right decisions

You need to make important decisions about which debts you will tackle first. You have to prioritize your debts and drive down the debt that comes with the highest rate of interest first. This is likely to be a credit card but you need to check.

If you have two credit cards that have outstanding balances and one has a higher interest rate applied to the balance than the other tackle the higher interest rate balance first. You can continue paying the minimum balance on the other card until you have paid off the higher interest rate balance. Then start to reduce the balance on the second card.

Debt reduction is all about paying more than you need to. If you have a loan over a specific period then you can save a lot of money by paying more than you need to every month. Most lenders will accept this but always check with them first.

An alternative strategy is to use the debt snowball method.

4. Why you should consider the Debt Snowball Method

Here you will get out of debt fast by starting with the smallest debt and making your way up to the largest one. Identify your smallest balance and pay as much as you can to get rid of this in the shortest possible time.

After paying off the smallest balance move on the next smallest and pay that off. By getting rid of these smaller balances you will create a snowball effect that will free up more of your available income to really tackle the larger debts you have. While you are paying off the balances you must keep up the minimum payments on the other debts.

There is an important psychological gain here. As you knock the smaller balances down your subconscious mind will register these as wins. This will keep you motivated to clear all of your debts eventually.

5. Get out of Debt fast by only spending on the essentials

Examine your current spending habits. Do you eat out often? Do you always buy an expensive coffee on the way to work? Do you have membership subscriptions that you don’t use? You have to live of course but most people spend money on things that they don’t really need.

Open up a spreadsheet and record everything. Obviously you need to pay utility bills, repayments on loans, grocery shopping etc. Create a budget to abide by each month. Have a look at your spend in the grocery store. Are you making unnecessary purchases there?

6. Sell stuff you don’t need

Everyone has stuff that they don’t use any more. Dig it out and sell it. If your old things need a clean and polish then put the effort in to do that. Have a garage sale or sell items on eBay or similar websites to raise extra money.

7. Get out of Debt Fast by removing Temptation

Stop using your credit cards right now! If you still have credit cards then get rid of them so that you are not tempted to use them. Instead of cutting them up ask a friend or family member to hold on to them for you. You may need to use one in an emergency as you never know what is around the corner.

Get out of Debt Fast by taking Action right now

If you want to get out of debt fast then take action right now. Start by recording your current debt position on a spreadsheet. Tackle the highest interest balance or use the snowball method. Do what you can to raise extra money.

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Carole Smith

I’m working hard trying to pay off my cards, thankfully most are closed so I am just paying off balance and never charging on them. I will be so glad when they are gone.

Shirley A Vines

Did you call and ask them to close them? Can you do that ? Then just start paying on them every month..Did you pay just the minimum? If you tell them to close the account out. If you have too and need to charge for emergency will they let you have it?


Is it true you need credit cards in your life to build your credit score??

Denise Aquino

My debt is from school loans. My credit card debt is low.

Alison M Foley

I don’t have credit card debt its mostly medical


I have so many medical bills are their HELP?


Have you applied for medicaid? Also there is something called Community Medicaid that you might be eligible for.
Good luck,

Donald Thrasher

I need help with my debt an my home Mortgage


Yes I’m interested in more info.

Thomas Christian

I don’t have credit card debt, but my credit score is too low to do anything. Can you help me with this?

Anthony Holland

This Is So Awesome Thank You For Sharing This With Me&”,Have A Great Day

Joseph Williams

Great ideas. But it’s not working for me. At least not yet!!! Thanks for your information any ways.


I am in some of the same $debt boat. I just am paycheck to paycheck. But,I’m considered Retired, but still it’s hand to mouth to bill collected. So,I’m gonna grab the line, finish the last bill and look to start a$ to& saving plan. Suerte(means luck).

James Harris

I really really really need a second chance to better myself okay I really really really need a car or truck I just need a second chance?I have no car or truck or no one to help me with this credit to get anything can someone loan someone $1,700 to get a good car’s or truck I just need a second chance can someone help me with this problem ????

Tim Edwards

I really need help with catching up with $ 1500 worth of bills to pay off si ce my Wife Passed away Last June of 2018 and have had trouble making ends Meet by Myself!!!!???)⁷

Tuneeka Johnson

Yes I’m interesed more info please

Peggy Young

I need to get out of debt period!! I want to buy a place I can call home besides living in my camper!

Coryn Schneider

I or my fiancé do NOT have any credit card debt at all. We both have never had a credit card. Everything we buy is in cash… period. We are trying to build both of our credit scores and reports so we can buy a home for our growing family. We have 2 children already and looking at 2 more. We have been told to get secured credit cards and also to have a friend or family member with good standings with their credit cards and make us an authorized users but us never to use the cards (meaning they… Read more »

Kenneth Washington

If you can…make an account at your favorite bank…this money will be used as collateral….make a loan against the money in your account and make payments on time or you can use your colleral to take out a secured credit card…this is a good way to establish your credit…bank credit is the best credit reference that you can have


I tried your works i only paid 15 dollars over my payment amount each month them at the end of the month when i had extra money i put that towards my house payment as well then income tax returns all of it went to the house paymemt pd it off in three years instead of the 5 i had doing the same towards my two medical im paying 50 each month…made pymt arrangements for 40 …my credit score has never been this good …get alot of mail to gey credit cards but i just throw them… Read more »

Ophelia Anderson

Excellent information & strategies for eliminating debt. Before reading this, I started applying the steps. I am on my way to becoming debt free with the exception of my mortgage. Thank you

Susan Hastings

Excellent information. Thank you

Guadalupe Aguilar

I need help in fixing my credit score. I’m retired, have only S.S. income,but have plans of getting back in the workforce to have “$” to pay old debts.

Johnnie mayfield

I would love to get out of debt so I can buy me a car and a house

Verna Burris

I would like to be debt free fast as possible but getting any actual truth out of the internet and believe it at all is like a pie in the sky dream


Divorced single mom who was forced into bankruptcy & lost everything including my credit. No child support, daughter owed $20,000 & can’t get help from courts. Been sick with chronic medical condition which left me on disability. No help from state at all. No vehicle, can’t afford. Am in an impossible spot to even afford a vehicle no less my over due electric bill. Please if any assistance can be offered it would be greatly appreciated! Thank you!!

Teresa Gunderman

You should look into your state funded resources. You’d be surprised as to how much they can do. Also, research grants….

Gina Diaz

Apply for welfare, show them your court documents pertaining to the amount your child’s father owes you, you will qualify and they will force him to pay .


OUT TO BE $1100.

Michele DiSanto debt with my utility bill I’m disabled and my electric has been shut off and I cant do anything. They won’t work with me at all I’m bipolar and was not properly medicated so yes some.of it Is my fault. I’m about to lose everything I’m scared I’ve turned to every help agency I could find all they want to do us send me to college daily life is difficult enough college would not be a good option I have no vehicle no credit card debt, school debt and a few other things not able to get an EMERGENCY… Read more »


Google and start studying house joint resolution 192 that’s what I’m doing

Connie Allds

I have hospital and doctor bills from several heart surgeries and on limited income at the of 73 and still battle congestive heart failure and COPD ..have car note to pay and insurance and rent too high and more bills and I could sure use some help..I am a widow and a surviveing spouse of a retired veteran of the Vietnam was..

Cherie C Nelson

I’m out of work because I have lupus need help with my bills


I’m drowning in medical bills well over $500,000 my credit what credit ruined not sure what to do I tried finding help nothing’s working I get a whopping $771 a month from SSDI which basically pays the mortgage so going into the month I’m already 380 something dollars behind and It just keeps piling up month after month after month now let’s add the electric bill water bill garbage bill and let’s not forget Transportation cost insurance cost and oh yes can’t live without this the food I need eat add another $300 and that’s being on the lighter side… Read more »

Raylena Luna

Hi my name is Raylena Luna I need help

Joyce Kroon

Iam sorry I know your trying to help. But my income is not even 800.00 a month. So there is just no way I can use all your suggestions. But if you can work with less then 800.00 a month please let me know, but thank you anyway.


You said I have a check, didn’t see anything here about what I needed to do about this check you mention.

Michele Isaacson

I am in debt from medical bills! That is something I will never be free of because of all the diagnoses and appointments I have.


I would like to get out of debt. I’m on disability and have to make to get paid under the the table.

Danielle Andrews

I live with my mother and my mother is a disabled retired woman of 71. I am her full-time caregiver and her daughter and we are being evicted after living and renting a house for 2 years. I have never been late on any rent payments until just this month because they informed us that the owners loan was due and they want us out of this house because he wants to sell it 2 another property management company who wants to come in and refurbish the house so they can make $250 more rent a month. Now we are… Read more »

Beverly Bowman

Go to Social Services or Social Security to get paid for being your mothers care taker.


My dept under $3000. 1 of them is for a med bill my medical card paid.
When the place closed I worked at for 20 yrs I had 815 credit score pd my credit cards off and cut them up plus pd my loans off I didn’t realize not keeping at least 1 credit card I’d loose all my credit score down to 512 it’s been 10 yrs I’m self employed I keep good records it’s not helping my score, Raising my granddaughters really could use a SUV my shot it self really could use some advice

John Payne

Your right Tim, l do dig what you sent. My first thought was “No l won’t dig it. Glad l read your article.Thank you very much.


Thank you for all the information here. I guess is time to get it done. My husband hasn’t paid my bills in 32 years. I m in a situation cause of him and wish I could snap the fingers and make it different. It is what it is but thanks for real.

John Perez

What do you do if your identity has been stolen?

Alan Wayne Wagner

I am working hard trying to pay off my credit cards and it’s to hard me and my Wife needs help


Thank God,I don’t use plastic

Sonya Aragon

Hi i have no credit cards debt but what i do have is this outstanding medical billl that isnt mine i am the patient but at the time of my incident i was in carcerated so they are responsible for it n i have been working with Lexington law to fix it iwant to buy me a home but because of this outstanding bill icant purchase my home till i get this fixedim not getting any younger. I just want something i could call my own for me n my husband who is permanently disabled

Ronald Russell

Thx for the tips. I will surely try this and have already began to cut my debt.

Jay Lundquist

Thanks for sending me this


Thank you for your Information. It was very helpful. I am going to try and do some of the things you suggested.


after reading your 6 ways to pay off debt fast, I found one almost exactly what my new plan I have been working on. so I will be trying it the 3rd of march