Do: Action Steps to Reduce Debt
When debt feels like a barrier to your goals, Neighbors is here to provide support.
A first step in managing debt is to figure out how much you owe. Start by making a list of all of your outstanding debts and then add the following columns next to each:
- Minimum monthly payment amount
- Interest rate
- Pay-off amount
Figure out how long it will take for you to pay-off your debt.
Click the calculator tool to help calculate your debt. Not sure what debts you owe?
Our financial counselors can help you review your credit report.
You can also meet for free with one of our financial counselors to determine a strategy for paying off debts by managing your spending plan, increasing your income, lowering your expenses or a combination of all three.
