Debt free programs allow people to get out of the debts as early as possible so that one can lead a debt free lifestyle. Debt consolidation, equity loans, credit counseling, debt settlement, debt management plans, and debt acceleration plan are different debt free programs. All these programs require fixed monthly payments without exception.

Paying fixed monthly amounts may be difficult with respect to salespeople and seasonal workers whose incomes experience ups and downs depending upon the nature of the season and tastes and fashions of their customers. For making fixed payments, one needs a household budget plan to allow room for all the household expenses and the monthly debt payments as well.

Credit counseling helps the debt holder in controlling credit card debts. Another debt free program is debt settlement or debt negotiation, which is an alternative to bankruptcy. It is useful to those people like fluctuating income holders who cannot pay fixed monthly amounts towards debt payments due to the nature of their jobs. Under debt settlement, the person opens a separate savings account and deposits some amount at regular time intervals. Whenever he finds that enough money is piled up to discharge one debt, he makes an offer to his creditor. Afterwards again he will repeat the same procedure to get out of the next debt.

Debt repayment accelerator plan includes the following steps. First of all, the family has to prepare a budget that tells the amount of surplus cash available for the payment to creditors. Then the next step is gathering all the bills and preparing a list stating the names of the creditors, the outstanding amounts, and also the details about the corresponding monthly minimum payments. Subtract the total of the monthly payment minimums from the available surplus cash leaving the resulting value called the accelerator.

In the next step, divide the total balance owed by its respective minimum monthly payment for each and every bill. The resulting figure is called Priority Index for each bill. Then, arrange all the bills in the order, starting from the lowest priority index to the highest. As the final step, add the full accelerator amount to the monthly minimum payment at the top of the priority list and do that every month until it is paid off, paying the minimum on all other bills. When the debt with the top priority index is paid off, a new accelerator is to be calculated by adding the monthly payment of the bill that was just paid off to the old accelerator. Then this new accelerator is to be applied to the second bill in the same procedure explained above.