How to get out of debt in montreal

by Conseils Experts Conseils Experts, Finance, Blog, Montreal, Pret Pe It is not easy to be able to claim financial freedom today. When you are in debt over 10 000$ like I was and get a salary of 19 000$ a year, doing minimum payments will not get you out of debt in montreal quickly. On argent rapide, credit is given where credit is due, i did not come up with this method, and your not doing me any favors whatsoever going there.

Their method is to take all the income and revenue you get monthly, and as it comes to you, put it all towards a credit card payment.


They explain that let say you owe 10 000$ on a credit card, and you repay only the minimum payment of 200$, then you get charged interest on the remaining 9800$! Thats when you have that 200$ or what ever is left after all rent and expenses paid.

Well why not reverse the pyramid? Take all your paycheck, say 3000$, pay off your credit card debt of 10 000$ right away. You are left with no money, and only 7000$ to pay off. Live from your credit card, and you will realize a few things:

• At the end of the month you made a bigger payment then only the minimum
• there is positive activity on your credit card
• your credit score builds up
• The credit card company see's you have 10 times the money to pay of debt, a very strong bargaining card.
• If you synchronize it properly, you can end up making a huge payment, then get charged interest on a smaller debt, and THEN use the rest of the credit to live.

At first i was super skeptical, but it worked. it took 270 days to pay of my montreal credit card debt. No biggie! It wasn't as difficult to discipline myself, and guess what? My credit score is so positive that they keep calling me to double my limit.

Get out of debt final words

I dont know, I leave it up to you. And once again, you are not doing meany favors checking their articles out, im from montreal, i needed some free advice in french on how to get our of debt and i found it. It may not be for everyone, but it worked for me.

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Created on Dec 31st 1969 18:00. Viewed 0 times.

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