New Year, New Debt: How to Build a Debt Payment Plan That Actually Works 

If you’re starting the year already feeling behind, you’re not alone. Around 100 million Americans carry credit-card debt month to month, often with high interest rates above 20%. Achieve, a digital personal finance platform focused on debt and cash-flow solutions, offers tools and guidance to find a path forward.

Step 1: Get a clear picture of what you owe

Before you can fix debt, you need to see the full picture. Start by gathering statements for credit cards, personal loans, medical bills and other unsecured debts. List each balance, interest rates and minimum payments, and add it all up.

It can feel uncomfortable, but this is a necessary step that results in a clear starting point.

Step 2: Find a solution that matches your situation

There is no single “best” way to get out of debt; the right strategy depends on your income, credit profile, home equity and how much pressure you’re feeling. Achieve offers multiple solutions, including fixed-rate home equity lines of credit (HELOCs) for homeowners, personal loans for debt consolidation, and debt relief programs for those facing serious hardship. Achieve uses a consultative approach to weigh all your options and understand trade-offs like speed, cost and cash flow impact, instead of a one-size-fits-all approach.

Step 3: Turn your plan into progress

Once you’ve chosen a path, the key is turning it into predictable monthly progress.

Consolidating with an Achieve HELOC or personal loan can simplify multiple high-interest debts into one fixed payment. In many cases, Achieve works with creditors to settle enrolled debts for less than the full balance, and you won’t pay any fees unless a settlement is reached and approved.

Step 4: Get ongoing support so you don’t slide back

Getting out of debt is a worthwhile goal, but staying out of debt is just as important.

Achieve combines digital tools, educational resources, and human support to help members build better habits over time. Its financial tracking tools apps can help you monitor spending and stay on top of your bills, and the company’s support team is there to offer guidance if you experience a setback.

A practical step forward

Starting the year in debt doesn’t have to define the months ahead. By getting clear on your balances, choosing a strategy that fits your situation, and turning that plan into steady monthly progress, you can build a more resilient financial future. With more than 2 million members served and over $20 billion in debt resolved, Achieve can help get you there.

 

Sponsored by Freedom Financial Network, LLC, doing business as Achieve Debt Relief

*FDR’s disclosures: Freedom Financial Network, LLC, offers various financial products and services through its wholly owned subsidiary, FDR, and affiliates (collectively, “Freedom")), which may be provided by Freedom or other unaffiliated third parties. All estimates for FDR’s services are based on prior results, which will vary depending on your specific enrolled creditors and your individual program terms. Not all clients are able to complete their program for various reasons, including their ability to save sufficient funds. FDR does not guarantee that your debts will be resolved for a specific amount or percentage or within a specific period of time. Nor will it assume your debts, make monthly payments to creditors or provide tax, accounting, legal advice or services. FDR’s service is not available in all states, including New Jersey, and its fees may vary from state to state. Please contact a tax professional to discuss potential tax consequences of less than full balance debt resolution. Read and understand all program materials prior to enrollment. The use of FDR’s services will likely adversely affect your creditworthiness, may result in you being subject to collections or being sued by creditors or collectors and may increase the outstanding balances of your enrolled accounts due to the accrual of fees and interest. However, negotiated results FDR obtains on your behalf resolve the entire account, including all accrued fees and interest. C.P.D. Reg. No. T.S.12-03825. By proceeding, you acknowledge that you may be contacted by one or more representatives of Freedom to discuss options.

The information provided on this page is for educational purposes only and is not intended as financial advice.