LYCOS RETRIEVER 
Reduce Debt: Creditors
built 639 days ago
Now, the first old-fashioned way to reduce debt is to pay more than the minimum on that bill. A good rule of thumb is to take the amount on the bill and double it. In other words, if your bill is for $50, pay $100. If the bill is $100, pay $200, when you write that check to send off to the creditors. Now, of course, not everyone can do that. Therefore, you should consider what you could comfortably afford. Even $10, $20, or $30 more is better than only paying the minimum.
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The Plan will reduce RCN's total debt by $1.2 billion through a debt for equity swap. As part of this restructuring, several additional non-operating subsidiaries have filed voluntary petitions for reorganization under Chapter 11. The Plan is subject to creditor approval and confirmation by the Bankruptcy Court. RCN does not anticipate any disruption of service to its customers.
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Do you want to reduce your debt? Having trouble paying your bills? Getting dunning notices from creditors? Are your accounts being turned over to debt collectors? Are you worried about losing your home or your car?
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