Do Debt Relief Companies really work? Can I do the same job myself?

Have you ever heard of the Debt Snowball? I think this is much more effective to getting out of debt than going with a debt relief company who may or may not be on the up and up. Also, if you ever listen to the Dave Ramsey Show you will hear every day that people are getting out of (sometimes a considerable amount) of debt.

The Debt snowball works like this. You write down ALL of your debts as far as the amount that you owe. Then (hopefully you can make all of your minimums) you make your budget for the month paying all of like housing, food, utilities and then put in your minimums and anything you have left over money wise you put on to the debt that is the smallest.

So, if I have 3 debts, I start concentrating my extra money on the smallest dollar amount along with its minimum and maintaining the minimums on the other two debts. Then once the first debt is paid off, I work on debt number two. I am giong to pay debts number 2′s minimum, I am giong to put what Debt number 1′s minimum was and I am going to put the extra money on it and I am going to maintain debt 3′s minimum to stay in good standing. Once debt number 2 is paid off, then I am giong to work on Debt number 3 and 1 and 2 minimums are going onto debt 3 along with debt 3′s minimum and the extra money that I figured that I could put on my debts.

Keep in mind, if you do not have any extra money to put towards your debt, you might have to get a second job to get out of debt. It is hard work but, worth it in the end.