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A Debt-Free Philosophy

An unmanageable load of personal debt can create a long-term nightmare. Here's a look at some smart methods for getting out from under it.

This story appears in the October 2010 issue of Entrepreneur. Subscribe »

As owners, we like to think we're pretty savvy about using loans and lines to our receivables and boost our companies' working capital. But as consumers and homeowners, we're not always so disciplined.

"As you accumulate , you eventually reach a point where the monthly fees and interest become larger than your ability to pay," says Stephen Craig, a attorney and founder of Trident Debt Solutions in , which specializes in alternatives to bankruptcy. "It becomes a weight that you carry with you everywhere you go."

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