Advertiser Disclosure

The Debt Settlement Checklist: How to Conquer Your Debt

Written by Banks Editorial Team

Updated April 22, 2021​

2 min. read​

You need a list to achieve things, including a debt settlement checklist to conquer your debt this year. Because who doesn’t want to settle their debts? If you’re someone riddled with debt, you probably know the reality of waking up every morning, shuddering over the amount of money you owe to lenders. You may not have a debt settlement checklist. More than that, you probably consider the interest rates on that money, and how they are thwarting your future ability to save and make a life for yourself. It is far too easy to rack up debt today, and many responsible and financially frugal individuals can fall into that trap. Debt settlement is something to consider if you’re tired of living this way. You can also look into refinancing your debt as a way to pay for it faster.

Loading... Loading...

Debt Settlement Checklist

Check out our debt settlement checklist for the type of debt repair you’ve always dreamed of:

1. Balance Transfers

You need to get your money out of high interest rate accounts as soon as possible. This is going to take a hit on your credit score, but it is worth it in the long run. Lowered interest rate accounts will save you hundreds. But, you do need to do your homework and check that the lender is not charging any balance transfer fees. Terms can also be changed at any time, so make those phone calls.

2. Save

To be as preemptive as possible, you need to start saving your money now, too. As you play around with debt settlement options, if you have money mounting in your savings account, you’ll be able to say goodbye to debt once and for all in the future.

3. Negotiation

If you’re feeling bold, you can possibly negotiate a lower interest rate with your lender. However, this is only a possibility if you have good credit right now, and a history of being fairly responsible with payments. It’s worth a shot!

4. Loans

There are loans that can help you get on top of the wild interest rates. However, this kind of debt consolidation is only an extension of your debt, and will require payments as well. If you’re prepared to be responsible with your payments for years to come, then this is a viable way to settle your debt and start managing your finances.

5. Close Unused Cards

If you’ve never used a credit card, but have it looming in the back of your wallet, close the account and cut up the card to evade any identify theft. Make sure to get rid of the newer cards first. The longer you maintain a relationship with a lender, the more they can improve your credit score.

5. Check Your Credit

If you’ve been slammed with interest rates that you feel are unfair, it could be because of a recent drop in your credit score. Many times, companies make mistakes, and slam you with a score that is not actually indicative of who you are as a consumer. If you want to get a hold of debt settlement, you need the best possible credit score working alongside you.

Conquer Your Debt

Right now is always a good time to conquer your debt. It should be easy now that you have a debt settlement checklist. It’s going to take some time, so be patient and get started today.

Advertisement Disclosure

Product name, logo, brands, and other trademarks featured or referred to within are the property of their respective trademark holders. This site may be compensated through third party advertisers. The offers that may appear on’s website are from companies from which may receive compensation. This compensation may influence the selection, appearance, and order of appearance of the offers listed on the website. However, this compensation also facilitates the provision by of certain services to you at no charge. The website does not include all financial services companies or all of their available product and service offerings.