When you have serious debt trouble, “Self Help Debt Plans” can’t help you.
Clark Howard, a “financial expert”, has been a frequent TV show guest. He has a “Five simple Steps” debt plan. Suze Orman has a Nine Step Plan. The Motley Fool has a 60-Second Guide. Wiki How has a Nine step plan. I even found a site that debates whether Dave Ramsey’s Self Help Debt Plans beat out Suze Orman’s plans. Not surprisingly, it says sometimes it does, and sometimes it doesn’t. Gee, that’s helpful, huh?
All these Self Help Debt Plans have something seriously wrong with them. If you can’t pay your debts, these plans can’t work. These plans all require you to have significant amounts of spendable income for debt payments. But if you ain’t got the money, you ain’t got the money. No money means no steps to debt help. (Don’t trip over your own feet while you attempt the get-out-of-debt dance routine.)