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What is the Cascading Debt Elimination System? This is a system that will help you get rid of your credit debt faster, while at the same time saving you so much money in interest payments. The good news is, you can implement this system on your own for your outstanding debt without having to rely on a company to help you. How?
It works like this. Find out which of your credit cards has the lowest balance to pay off. After doing so, be dedicated to making additional payments on this card every month. If you have to give up something like your morning latte to pull it off, just do it. This will pay off the card immediately as you will be paying more than the minimum.
Once this card is paid off, take the total amount you paid for that card and apply it to the next card. This snowball effect is therefore called “cascading”. Keep applying this system to every card you have and you will be amazed at how fast your outstanding credit debt will vanish!
What’s your next step? To know what your credit score is, you need to order your credit report. Check and see if there is any incorrect information. You’d be absolutely amazed at how many mistakes credit reporting firms can make, and you need to correct this misinformation as soon as possible so you can start raising your credit score.
There are two parts to using the cascading debt elimination system: getting rid of your outstanding debt and increasing your credit score. Make sure you focus on both!
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