A conversation with Harrine Freeman...

How to Get out of Debt

THarrine Freeman : The most significant mistakes I made getting into debt were not being educated about credit cards and not reading the credit card disclosure agreement to find out the terms of the credit card.

Lauren Smith: What lessons do you hope people take from your book?

Harrine Freeman : I hope people see that it is possible to get out of debt. It takes hard work and sacrifice to get out of debt, but you can live a debt-free life.

Lauren Smith: What is the first thing people need to do to climb out of debt?

Harrine Freeman : The first thing people need to know to get out of debt is that they have to change their spending habits. You have to buy needs instead of wants. You must create a monthly budget to account for all of your expenses, debt and your total monthly income to see what areas you need to address.

Lauren Smith: Is filing for bankruptcy ever a solution to becoming debt-free?

Harrine Freeman : Filing for bankruptcy should be a last resort to becoming debt-free. Filing for bankruptcy is only a temporary solution, because if you don't change your spending habits you may end up having to file for bankruptcy in the future. Since the bankruptcy laws changed in October 2005 it is harder to file for bankruptcy and certain bills cannot be included in a bankruptcy, such as student loans, child support and alimony. Try to set up payment plans and reduce your expenses to avoid filing for bankruptcy.

Lauren Smith: What are your top five recommendations for people who want to get out of debt?

Harrine Freeman :  My top five recommendations for people who want to get out of debt are: create a budget, reduce your expenses, set up payment plans with each creditor, lower your interest rate, and pay more than the minimum monthly payment.

Lauren Smith: Can you tell us about the work you do?

Harrine Freeman : I work as a personal finance expert and assist clients by repairing their credit and helping them pay off their debts. I provide clients with recommendations to use in the future after their credit has been repaired.  I also give seminars and workshops on various financial topics such as credit repair, debt management, business credit, financial empowerment and entrepreneurship.

Lauren Smith: Are you working on any new projects?

Harrine Freeman : Yes, I am currently working on a self-help book for women and girls.

Lauren Smith: Is there anything you would like to add that we haven’t covered?

Harrine Freeman : Yes, pay your bills on time and if you are unable to do so, contact your creditors immediately to set up a payment plan. It may seem like you have no way out, but you can get out of debt, it will take time, but you can live a debt-free life.  

Harrine Freeman  was once $19,000 in debt while earning $21,000 a year. She learned how to climb out of debt - without filing for bankruptcy - and shares her methods in her book, How to Get Out of Debt; Get an 'A' Credit Rating for Free.

About the author: Harrine Freeman  is a member of the American Association of Daily Money Managers. She has provided credit repair counseling for bankruptcies, judgments, student loans, delinquent debts, repossessions, and much more. Her clients range from doctors, lawyers, actors to school teachers and students. She has been a guest speaker at local churches and schools, Fortune 100 companies, libraries and local and national radio shows.