Advice on How to Get Out of Debt - Two Things You Should Avoid Doing

You need advice on how to get out of debt.
You are in a desperate situation and no doubt friends and relatives are giving you all kinds of suggestions on what you should do.
Following are some of the most consistent things people will tell you to do along with why you ought not to do them.
- One of those things is to file bankruptcy.
There are some times when bankruptcy is the way to go but seldom is consumer debt one of those times.
Although relatively easy to file, sometimes you can even handle it yourself without an attorney, usually bankruptcy is expensive and will remain on your credit record for seven to ten years.
In addition, in some states you could lose your house and automobile or at least be forced to sell them.
So bankruptcy should be a very last resort and only after everything else has failed.
- Do not cut up your credit cards and cancel your credit lines.
I realize I am going against a lot of people here including some well known "money experts.
" However, your credit cards are not the problem - your abuse of them got you in this mess.
What you need to learn is how to manage credit rather than how to live without it.
If you do not have some credit and some debt, then you are not managing your finances properly.
There are times when it makes good financial sense to purchase items on credit.
Also, what if you have an emergency and need a credit line or sudden cash? You will not be able to get a credit card overnight.
And here is another critical reason for not following this advice of cutting up all of your cards - doing so will have a devastating effect on your credit score.
No credit is sometimes as bad, if not worst, than messed up credit, especially if you have been around awhile.
Potential creditors will find it odd and suspect that you do not have any credit.