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Debt Restructuring
Debt restructuring with MMI; let us help you with your debt trouble
With interest rates remaining relatively low, some consumers may think that debt restructuring is an easy answer to debt trouble. In fact, according to the Federal Reserve, Americans borrowed a total of $701.5 billion from our home equity as of the end of 2003, up from $416.2 billion in 1997. While it may be common to tap a home’s equity to pay off credit card debt, it’s not always the best or smart type of debt restructuring.
Debt restructuring with a few easy steps
A. Smart debt restructuring means determining total “take home” income. It is helpful to figure this on four-week basis. That way, you will receive an “extra” four paychecks a year that can provide money for savings.
B. Determine your preset expenses. Identify your priorities, basic needs, and your expected standard of living. Look for places to cut back and start paring down the “frills” and you'll be on your way down the path of smart debt restructuring.
Contact MMI and let us help you plan out your debt restructuring program. |
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