Peter R. Scribner, Esq. ATTORNEY AT LAW
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A quarter of Americans expect to die with debt

Debt follows you wherever you go and according to a new poll from, 25% of Americans expect their debt to follow them to the grave. There was also 65% of participants who don’t know if or when they pay off their current debt.

The poll only highlights the sad reality that many Americans deal with – living with debt without a chance at recovery. Luckily, the survey also found 35 percent of Americans expect to be free from their debt.

How can Americans strive towards a debt-free future?

There are some techniques people implement to manage their debt and establish a new budget:

  • Pay off the largest loan first – It is easier to tackle the most substantial project first when it comes to debt. If you have a credit card bill with high-interest rates, try to pay that off first and then move to smaller loans or bills. It helps reduce interest rates and your overall debt.
  • Evaluate your credit card spending – Credit cards are beneficial for most consumers, but they are also extremely tempting when it comes to spending beyond your means. Try to adjust your habits and put away the credit card when you can.
  • Make larger payments when it’s possible – Whenever you have extra income, try to make significant payments on your bills first. It will help you reduce your dent and reward you in the long term if you can only pay the minimum balance next month.
  • Sell items laying around the house – If you need extra income for a vacation or a bill, try to sell unused items around your home. Many apps and websites make it easy to sell your items and earn extra cash on the side.
  • Consider bankruptcy – Bankruptcy is often a scary term for most folks. However, it’s a great way to tackle a huge amount of debt while retaining most of your essential assets. In New York, you can file under several chapters to discharge your debt without the hassle of creditors.

All these techniques allow you to take control of your finances and live the future you want to. If you have a significant amount of debt, bankruptcy might be your best option. Consult with a financial advisor or an accountant to decide the best strategy for your bank account.

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Peter R. Scribner, Esq.
1110 Park Avenue
Rochester, New York 14610

Phone: 585-800-9616
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