How do I balance my personal bills and reorganize my credit card payments in New York State?

debt relief nys

debt relief nys

Summary

Balancing personal bills and reorganizing credit card payments in New York State can be effectively achieved through debt management plans, debt consolidation, and budgeting strategies tailored to your financial situation.

How do I balance my personal bills and reorganize my credit card payments in New York State?

Balancing bills and credit card payments involves organizing your finances to reduce stress and avoid late fees or penalties. Here’s how you can do it:

How do I balance my personal bills and reorganize my credit card payments in New york

1. Create a Budget and Track Expenses

- List all monthly bills and credit card debts with their due dates and amounts.

- Track your income and essential expenses to understand how much you can allocate to debt repayment.

Ways to spend less

Cut out or reduce some expenses. Cablevision: All you really need at your house is internet, if your paying $200 plus a month stop immediately. There are plenty of free tv apps out there providing you have a smart tv. if not your favorite shows you can watch on your phone or computer. INTERNET ONLY $50 a month, Save upwards to $150 a month

Netflix dose not promote the fact that you can subscribe to there service for $7.99 a month with a couple of commercials, NETFLIX WITH COMMERCIALS $8.00 a month Save about $17 a month.

Look around do you see all those blue lights on all your computers, plugs,, appliances, tv's, cable boxes they add up to less money in your pocket

Leaky faucets if the water is cold, not only is less money in your pocket, it will fill up a cesspool that drip adds up, to a substantial penny going down the drain. If it is a hot water drip, now your spending a lot of money on electric, oli, or gas constantly reheating the hot water.

When was the last time you shopped for auto insurance? Now is the time, you can save upwards to $400 a year.

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2. Use a Debt Management Program (DMP)

- Nonprofit agencies like GreenPath and RethinkingDebt offer DMPs, which consolidate your credit card debts into one monthly payment.

- These programs often negotiate lower interest rates and stop collection calls.

- You make one payment to the agency, which pays your creditors on your behalf, simplifying bill management 1 (https://www.greenpath.com/counseling/debt-management/) 3 (https://www.rethinkingdebt.org/services/debt-management-program).

3. Consider Debt Consolidation

- Organizations such as Money Fit provide debt consolidation services that combine multiple debts into a single loan with often a lower interest rate, making payments manageable.

- This helps reduce the number of bills to track and can lower monthly payments 2 (https://www.moneyfit.org/new-york-debt-consolidation/).

4. Prioritize Payments Strategically

- Use the avalanche method to pay off cards with the highest interest first to save money long-term, or the snowball method to pay smallest balances first for motivation 5 (https://www.tiaa.org/public/learn/personal-finance-101/debt-consolidation).

5. Seek Credit Counseling

- Nonprofit credit counseling services in NY, such as those recommended by LawNY, help you plan spending, negotiate with creditors to reduce payments or fees, and support you with financial education 7 (https://www.lawny.org/page/633/when-you-have-credit-card-debt).

Resources:

- GreenPath Debt Management Program: details on structured repayment and support 1 https://www.greenpath.com/counseling/debt-management/

- Money Fit Debt Consolidation in New York: personalized plans for consolidating debts 2 https://www.moneyfit.org/new-york-debt-consolidation/

- RethinkingDebt Debt Management Plans: budget counseling and creditor negotiation 3 https://www.rethinkingdebt.org/services/debt-management-program

- LawNY Credit Counseling Services: nonprofit local counseling for debt assistance 7 https://www.lawny.org/page/633/when-you-have-credit-card-debt

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