There are many ways I’m sure you’ve probably heard before on how to get out of debt.  Thousands of books, blogs, and podcasts are totally dedicated to this elusive process.  But, what if I told you about some you hadn’t thought of?  Welcome, my friends, to my top five surprising ways to eliminate debt:

1. Reexamine your insurance policies.  Maybe you can increase your deductibles which will decrease your premiums (which is the amount you pay your insurance company).  Moving from a $500 to a $1000 deductible can save you up to 15%!  Or perhaps there’s another insurance carrier that can provide the same coverage for less.  My husband and I did some digging and found another company that will save us over $500 per year!  Same coverages and everything.  You also might not know that insurance carriers can penalize their loyal customers.  The longer you stay, the longer they can raise your rates because they think you won’t leave them!  It’s like a weird game of chicken.  So, shop around and see what’s out there.  One place to look is Gabi.com. They are insurance brokers, which means they can shop for the entire marketplace for you.  They aren’t tied down to just one company (those are called captive agents).  Another place to turn to find a broker is at trustedchoice.com.  Want a deep dive into what to ask brokers to help you compare?  Then use this guide from the National Association of Insurance Commissioners website.
2. Find missing money.  What did I just say?  Missing money?  Yes!  There is a ton of money floating around that is now in the government’s hands because you forgot about it.  You may have moved and forgotten about those dividends from a stock grandma gave you.  Perhaps you lost track of a deposit you had to pay to a utility company when you first moved into a new apartment and now years later, they can’t find you because you’ve relocated.  There are a number of reasons why there could be missing money but whatever they are, you need to go get it.  It’s yours for goodness sakes!  My top two favorite places to look are Missingmoney.com and Unclaimed.org.  They are both government websites that let you check for your missing money for free.   I’ve found money for family members over the years and I always like to check both of these websites on an annual basis.  I recently found over $200 from an old utility company for myself.  Woo hoo!
3. Stop contributing to your 401k or TSP.  What did I just say?  You’ve stumbled upon a personal finance blog and I just recommended eliminating contributions to your nest egg?  Yes, I did.  You can’t make any real traction until you pay off debt.  So, stop diverting your hard-earned money to retirement accounts – for now.  It’s only for a short-term basis.  It’s not FOREVER!  Once you cease the contributions, make sure to reach out to HR to have that money be directly deposited into a separate savings account.  Label the account something like PAY OFF DEBT because when you see your goals in writing, you’re more likely to achieve them.  Or you can set up automatic transfers from your checking account to a new savings account yourself through your bank or credit union.  Just be sure to pay off your debt with this newfound money.
4. See if you’re due a refund from the Federal Trade Commission.   The FTC refunds consumers who lost money from companies like Volkswagon, ABC Mouse, Amazon and many other big brands.  They may owe you money and you didn’t even realize it!  I searched the site and found Uber owes over $19.7 million to drivers because they exaggerated how much drivers would make and mislead them over financing options.   Meanwhile, ABC Mouse was accused of being unclear in their membership renewal process and charged members without their consent.

So you see…those were pretty surprising ways to find money and pay off debt, right?   Just make sure you use the money to pay off those creditors asap.