financial independence

 Take all of your credit
card statements and write down the balances owed for each card and the
corresponding interest rates (Annual Percentage Rate). If you have Excel, use
it.  Once you have the list, prioritize
it by the highest interest rate credit card first and lowest rate last. 

Although some stores are reporting hard times this Christmas, there are
examples of some success stories in the making. John Lewis, for
example, has reported that so far this festive season, takings are up
in comparison with 2006. It is hard to believe that shoppers are
spending more in the wake of all the financial woes that have been
reported in the second half of the year. By now, you would think that
people would be trying to bring their debt under control.

Debt consolidation can help you pay your debts without having to take out a home equity loan or a second mortgage. Debt collectors may not engage in unfair practices when they try to collect a debt. A debt is created when a creditor agrees to lend a sum of assets to a debtor. A debt is repaid in full by the lender writing off as a bad debt (for tax purposes) the principal and interest owed(on a debt that is not being paid), leaving no debt remaining on its (the lenders) books.
This information gives you basic advice about debt and simple guidelines for dealing with money problems. I remember a finance professor telling us that debt was a two-edged sword, which would cut for you like a tool but could also cut into you and bring harm. In fact, some credit counseling organizations charge high fees, which may be hidden, or urge consumers to make "voluntary" contributions that can cause more debt. Only time and a conscientious effort to repay your debts will improve your credit report. There are many reasons why people find themselves in debt and there are a number of ways of both avoiding it and getting out of it.
Even though a debt may no longer legally appear on your credit report after 7 years, you could still be sued for the debt if the statute of limitations for your debt in your state is not up. Don't worry at any time you can, if you so desire, abandon you're plan and go back into the never-ending trap of minimum monthly payments and the ever-secure feeling of lifetime debt. Living debt free is a challenge to say the least. That should get you out of debt in less than three years if you stick to the simple procedure outlined.
Good luck!