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Whether you owe thousands of dollars or hundreds of thousands, any amount of debt that’s too big for your budget is going to cause problems. Once your emergency fund is drained and you’re living paycheck to paycheck, it can seem almost impossible to catch up. If you want to regain control, you need to determine how to get out of debt effectively in your situation. But how do you do that when money is already so tight?
4 ways to get out of debt
There are four basic ways to get out of debt:
- Prove it’s not yours
- Pay it off
- Qualify for debt forgiveness
- Find a way to discharge it
Which ones apply depend on what type of debt you owe, the amount of debt you have, and your financial situation. This page is designed to help you understand these options. If you have questions or need professional help to find the best solution for you, visit Debt.com’s Solutions Center.
The best way to get out of debt without paying: Prove it’s not yours
Wondering how to get out of debt without paying anything at all? All you need to do is prove the debt is not yours to pay. If you don’t owe it, then you don’t…
