Originally posted 2010-03-20 04:46:43. Republished by Blog Post Promoter

Jake was deep in credit card debt. And the strain was showing in other aspects of his life although he was trying his best to keep it secret. Even so, he kept his minimum payments up to date. But it was stressful. So he decided to enroll with a debt consolidation service.

The company Jake signed up with had been running commercials on TV on a regular basis. They claimed to be nonprofit. With the word nonprofit you can’t go wrong right? Not so fast.

As usual with debt consolidation, Jake was required to close all his revolving (credit card) accounts and to not establish new credit for the next three years. Not a problem, he thought: anything to get out of debt. He was also advised to stop making payments to his creditors and start sending payments to the company.

The first payment, he was told, would go to the company. Jake would have to "find a way" to hold his creditors off for that first month. He would also pay the company a monthly fee on each account. This caused his total monthly amount to balloon, but the company convinced him that would change since his interest rates would go down significantly after three months of making timely payments. Not so bad, after all.

Then the company went bankrupt. It was at this time, about four months down the road that Jake found out that none of his payments had ever been paid out to his creditors. His credit was ruined and now he had accrued late fees and over-limit fees.

While finding the best debt consolidation company can be overwhelming, it is crucial to your goal of becoming debt-free. Scams companies are galore, and you could find yourself ruined.

Here are 5 points that hopefully will help you make the right choice:

1. The National Foundation for Credit Counseling and The Association of Independent Consumer Credit Counseling Agencies are two organizations that can help you find reputable nonprofit credit counseling and consolidation companies.

2. Avoid companies that charge high up-front fees. Most reputable companies do charge up-front fees. If they ask for cash before speaking with you, run.

3. Everything should be laid bare including all fees, what will be done for you, and how the funds will be used. If you detect the least amount of vagueness, run.

4. If the company promises to wipe out your debts right away or remove negative items from your credit report, walk away. No one can just wipe out your debt overnight. Similarly, no one can remove negative items from your credit report (at least nothing that you can’t do yourself).

5. There’s no such thing as free lunch, even in debt consolidation. If the company promises to help you for free, be very suspicious.

Download a free insider report that reveals step by step strategies for quick credit repair at: http://aboutcreditandrepair.com/newsletter.htm David Kamau had to repair his own credit and offers free credit repair tips and strategies at: http://aboutcreditandrepair.com/blog/

Article Source: ArticleSpan

Advice On Fixing Your Damaged Credit Report

Originally posted 2012-03-10 00:39:29. Republished by Blog Post Promoter

Having terrible credit can affect your daily life in a number of ways. It’s harder to own a home and interest rates are higher on cars, insurance and a number of other purchases. If you’ve had a hard time keeping your credit rating up, here are a few tips to get your credit back in good shape.

Always pay your bills on time. Not paying your bills(fdcpa guidelines) on time will cause needless late fees. There’s no need wasting money on fees by simply paying bills when they are due. Be in charge of your finances, pay your bills on time, and don’t throw your money away on late fees.

An important tip to consider when working to repair your credit is that you should try to never just pay the minimum due on an account. This is important because not only of the duration that it will take to pay off the amount, but also because of the amount of interest you will end up paying by prolonging the loan.

An important tip to consider when working to repair your credit is the fact that correct information can never be removed from your credit report, be it good or bad. This is important to know because many companies will claim that they can remove negative marks from your account; however, they can not honestly claim this.

Repairing your credit without going through an expensive credit repair agency is rather simple if you know what to do. Write to the three credit bureaus and request they remove any negative items. You might have to try this multiple times but, with a little persistence you can get these items removed.

When you are in communication with a credit reporting agency it is extremely important that you be honest with the person that you are dealing with. There can be serious legal troubles if you do not. Dishonesty will also result in your credit report staying exactly as it is.

If you are working to repair your credit stop charging to your credit cards. Increasing your debt will only hurt your credit in the long run. Make changes to your spending to only purchase the things you need. Lowering your debt will improve your credit so if you do not cut up your cards at least stop using them.

Having a bad credit(how to avoid paying debt collectors) rating can be difficult, but not impossible to remedy. Start by consistently paying all of your bills on time, including paying at least the minimum balance on your credit card bills. Your credit score is constantly changing. It takes a while to raise it, but it will pay off in the long run.

Repairing your credit can give you a whole new lease on life. Use these tips to fix your credit over time so that you are once again able to take advantage of good interest rates that others get. Repair your credit and be able to live your life once again.

Fix That Negative Credit With A Few Great Tips

Originally posted 2012-05-31 07:24:16. Republished by Blog Post Promoter

AS more and more people face foreclosures, layoffs, and repossession, maintaining a favorable credit score becomes increasingly difficult. Many adults have had to fall back on credit cards or payday loans just to support themselves and their families from day to day. If this sounds similar to your own financial situation, follow these useful tips for repairing your credit.

Rebuilding credit (non profit credit card debt relief) is never easy. It is much easier to spend money freely. However, once you have satisfied your credit card and other high interest household debt, you need to next focus on contributing to your employer 401k plan. In most cases, the employer will match your contributions enabling you to build a nest egg very quickly.

Identity theft can do a lot of damage to your credit, where someone steals your identity and runs up debt in your name. It way be wise to invest in a credit protection program. Banks usually offer a program where you pay a monthly fee, and your identity and credit are protected from thefts.

To show creditors that you are serious about changing your spending habits, consider opening a savings account. Most banks offer this service for free, and you can have small amounts withdrawn from your checking account to help you to stay committed to saving. If you maintain a healthy balance in your savings account you can even earn some interest.

Remove negative items from your credit report by filing a dispute for inaccuracies. If you request your credit report and notice there are negative items that are not accurate you should file a dispute. This will help you remove these items from your credit report. By doing this it will also make your credit better.

Try to get negative items removed from your credit report. Not everyone knows this, but you can actually do this. You will have to call your creditor and ask them if they will work with you so you can get this debt taken care of. Ask them if they can remove the negative items from your report once it is paid.

Never EVER trust a credit repair company who only accepts cash! This is a major red flag and tells you that this is not a company you need to be working with. Look for a company who will allow you to at least pay via check or some other reversible form of payment.

A great tip for those of us looking to repair our credit (debt settlement scams), is to enroll in overdraft protection and insurance on our credit cards. This way our credit is always in good standing and we will not have to worry about exceeding the limits on your cards and incurring hefty fees.

Research the fine points of disputing items on your credit report. It can be done, but the process is not easy. Make sure to track and follow up regularly with all reported disputes. If you stop checking on them, they will stop working on them as well. It’s your credit, so make sure it’s correct!

Sometimes you may seem all alone in the world. When you are under piles of credit debt, you are going to feel very alone. You do not have to be. Hopefully, the tips listed on this site have helped you understand all sorts of ways that you can begin to get out of debt.

Looking at the Renegotiation of Student Loans

Originally posted 2010-12-12 04:12:02. Republished by Blog Post Promoter

Are you currently falling behind on your own student loan repayments and worried the Department of Education will take your tax refund, garnish your wages or sue you? Bankruptcy will most likely not eliminate your student loans, as a result of recent alterations in the law. But studying your choices and taking action can defuse the situation before any damage is done to your credit standing or bank account.

Your first concern really should be in ensuring that your loan isn’t in what’s called “default,” usually thought as not making a payment or attempting to renegotiate payments for the past 180 days. If you’re in default, your lender is very unlikely to renegotiate your loan. However, you can ask your lender to establish a “reasonable” repayment schedule, depending on info you supply such as monthly income, other debts, dependents and so on. After you have made payments as agreed for six months, you could then be eligible for a new loan.

Deferment of Loans

If you ever aren’t in default, you just might get your student loans “deferred,” which implies repayment will be delayed if you:

  • Are permanently or temporarily totally disabled
  • Are completely unemployed
  • Have a federal loan and can prove that you are suffering an economic hardship (as defined by the lender)
  • Are enrolled in school
  • Are in the military fulltime
  • Are providing medical care in a poor area or to the needy

You must send in paperwork from the lender and follow through to make certain it’s processed correctly. And with some loans, the interest on the loan will carry on and build.


If you do not qualify for a deferment, you just might postpone your student loan payments during a specific period of time through what’s called “forbearance.” It’s easier to get a forbearancethan a deferment, but you’ll continue to rack up interest even through the forbearance period.

Canceling Your Loan

You might be able to request that your lender cancel your student loan entirely if you:

  • Are permanently or temporarily totally disabled
  • Are in the military fulltime
  • Are teaching in a poor area or to needy students
  • Are providing medical care in a poor area or to the needy
  • Are providing certain types of community service, such as serving in the Peace Corps
  • Are working in law enforcement, with certain loans
  • Withdrew from school or the school closed before you could complete your degree and you did not receive a refund

Renegotiating or Refinancing

In the event you aren’t in default, and do not qualify for deferment, forbearance or cancellation, you may still have the ability to renegotiate a new repayment plan that’s doable in your current financial circumstances. In case you extend the time for repaying your loan, you’ll find yourself paying more interest. Kinds of repayment plans include:

  • Graduated repayment, with payments that start out lower and increase every few years. If you expect increases in income over time, this makes sense.
  • Extended repayment, with a fixed monthly amount that goes longer than the period of your current loan (some as long as 30 years)
  • “Income-sensitive repayment,” which fluctuates with your income (usually measured annually)


You can probably consolidate all your student loans together at the renegotiated rate. You will most probably find yourself paying more interest if your loan period is extended, but you might get a lesser interest rate to balance it out. Most consolidation lenders won’t consolidate student loans that total less than $7,500.

In case you go with a consolidation loan, you will want to ensure you can accelerate payments with no penalty, just in case your financial situation improves as time passes.

For anyone who is having difficulty making your student loan payments, it’s most crucial to act quickly, before you’re in default and you’ve damaged your credit rating. The sooner you keep yourself well-informed on your options and take action, the better.

For help with an Augusta GA chapter 7 bankruptcy, contact a bankruptcy attorney Augusta GA. A bankruptcy lawyer Augusta Georgia could give you the help you need.

Debt Consolidation To Get Out Of Debt

Originally posted 2011-12-04 01:14:59. Republished by Blog Post Promoter

Your debt consolidation is not complete until you have negotiated the debt that you owe. You are not trying to get out of it without paying, mind. You are merely telling them you will pay in other terms. Just make sure that they see how they will benefit from that too.

What you owe might be a lot, but with debt consolidation you can totally handle it. I know you feel panicky about how it is all going to work out, but you should try cooling down and watching things objectively for a while. All you have to do is find a firm that is willing to work things out with you, and your debt consolidation can be through that easily. The credit card debt phenomenon is in part caused by the wave of consumerism hitting the nation. People love to shop till they drop and that act tends to translate into mindless money spending that leads them into debt. Even though it is hard to be prudent with cash in the consumer based nation, you can, with a little bit of will power.

Never underestimate the power of negotiation. I know it is not easy to stare into the eye of the hungry debt consolidation company representative when the offer they just laid on the table seems the best you will ever get, but you have to still try. Instead of caving under the pressure of your various loans, try debt consolidation. You?d be surprised how much you can get away with.

Debt consolidators arrange a meeting with your creditors as soon as your loan is approved and negotiated at a lower interest rate. Debt consolidation affords you the chance to get a loan for a cheaper interest rate and to pay off your debts in good time.

I know you have heard of debt consolidation, and I know you are a bit skeptical. It seems to you like a path that leads to more debt. In truth, it is a way to get out of it; you only need to consider it from the right angles.

If you’d like more information on debt elimination plans, stop by Paul William’s get out of debt site for more effective tips.

Originally posted 2012-04-21 23:04:05. Republished by Blog Post Promoter

For some finding the extra money to repay bills or maintaining repayments can be quite challenging. This is particularly so as increasingly more people are losing their jobs and then finding it difficult to acquire a new job. Businesses are suffering too because there are less people buying products because they have no cash.

This can lead to increasingly more financial debt for the individual or company, which often can mean that expenses to the IRS will also suffer and they end up in obligation with them, which can be very distressing for all relevant parties. You will find an approach to this and that is to find the advice about irs tax debt relief.

By using a specialized lawyer or specialist in the field may help people to get out of this obligation and to begin paying back the money that is owed. They will also help the person, by taking off the anxiety and also the strain this causes, and of course the IRS standing on their back, as they will attempt anything to acquire their cash, from frequent letters and even to very unwelcoming calls.

The person might even see that by using a lawyer they might be able to reduce the amount payable to the IRS. This is simply because there are more and more people that owe some money to them, they are very happy to accept some kind of payment instead of absolutely nothing. This considerably aids individuals who are desperate for the cash to pay the tax back. You will find a few programs that the IRS offer to help people settle some if not all of the monies due, and an expert lawyer knows concerning theseand be able to advise which is going to be ideal for you and set this forward to the IRS. They should then check out the person’s case, considering the finances they actually have and also what exactly is to be compensated, and workout a good payment plan.

The person may employ a professional lawyer to aid them, or they may prefer a tax payer advocate service, or they may decide to try and get it sorted out by themselves and interact with an IRS assistant. Obviously using a more professional person can help the individual in different options than a single, they can handle the matter on hand, removing the various pressures from the person, they understand the laws and can assist to obtain your repayments reduced and could help the individual with greater communication of what is happening with their own case.

Doing work direct with an IRS assistant on your matter might help you save a bit of cash in not having to get a professional, yet it can be difficult going. They should certainly understand the regulations and the rules, but it has been known that based on the skills and characteristics of the assistant depends on how quickly and great they can work for you. Also, they are under lots of strain and could deal with several individuals or businesses at one time and so their full focus will not be to one individual, meaning mistakes can be done or overlooked.

Credit Debt Elimination 101

Originally posted 2010-03-11 18:34:48. Republished by Blog Post Promoter

You see something you like and you do not have the cash for it so you charge it to your credit card.

Nice clothes, a drink with a good friend, some fast food on the road, you always thing these little to moderate charges on your credit card won’t cause harm.

This happens not once, but a few too many times and what does that leave you with?

A whole bunch of things you really do not need and a mountain of credit card debt.

Fear not! Following this simple steps will help you to eliminate your credit debt as quick as possible!

Eliminating your credit card debt is all about managing expenses so you will need to stop bad spending habits if you want to succeed.

Do some research, find out how your money is spent, and study your spending habits.

This is a key element to passing this plan. Once you know about your spending habits you know what to look out for!

While you’re trying to get out of debt, minimize spending,ask yourself twice when faced with buying something.

Do I need this? or Do I want this?

You lived this long without that item so it can wait until you have fix your debt problems. You could treat yourself with it once you succeed!

Guilt trips are a handy way of restricting your expenses. Before you know it you will be putting more things back on the racks than ever before and you will have a lot less clutter at home.

Paying your debts back is the other key to eliminate credit debt. Find out how much you owe. If you have multiple credit cards sort through them and start paying off the one that is charging you the highest interest. This way you pack back as little as you have to since the interest will not accumulate.

Increase your savings and make payments as often as possible. The quicker you pay off your debt the more money you save.

Since you have researched yourself, you will know where you spend too much and therefore be alert when in such a situation.

Keep your goal in mind. You need to get out of debt. You could end up without a place to stay if your bills do not get paid. You will do just fine without a new pair of converses.

Think like this and you will soon pass this credit card debt elimination program with flying colors.

Bary is one of the persons you can rely upon their advice when it comes to debt management and credit card debt elimination, why? Simply because he gone through this nightmare before, and know what it means to live under the endless pressure of debt. Read more of his insights and tips on his site: http://DebtReliefAlert.com

Article Source: ArticleSpan

Originally posted 2012-02-08 01:58:39. Republished by Blog Post Promoter

For individuals that are searching for instant credit card approval, why hold off until the mail comes? For individuals who are searching for one way to secure credit quicker and in a less difficult approach, instant approval credit cards stands out as the great selection. Just what are these credit cards and just how do you become involved in obtaining them? Actually, it is quite simple to benefit from these types of services. Moreover, virtually all credit card agencies are generally offering this support.

Just What Is The Service?

Instant approval credit cards are basically what they seem like. They are a chance for you to ultimately key in your personal details and then to receive the benefit from having an instant response. You will definitely know within a few minutes, most of the time, in case you qualify for the credit from the start. This enables you to get answers quickly rather than waiting around days or even weeks to get an answer in the mail. This can be a good way for you to secure the credit you’ll need now so as to gain immediately from it.

How Does It Function?

Securing instant credit card approval is easy to do. In other words, you need to simply provide your personal details. Among the most popular strategies to accomplishing this is by using an instant credit card approval on the internet. This enables you to perform all of the work on the internet, scaling down the hassle and the time a lot more so. All you should do at this time is to input your personal details straight into the system. Then, the computerized network will pull up a credit history for you, take advantage of the details offered there, and make up a decision about whether to supply you with credit or otherwise not. You’ll get a response straight away.

How Could I Work With This?

There are various ways that you can use this kind of support. To start with a lot of people which are searching for credit will still be getting credit card applications on their mail. If you receive one of such offers from the mail, it is quite straightforward for you to profit from them. Basically, you will be able to look at these messages, see whether the credit card deal is the right one for you and then use the internet to acknowledge the offer they have presented to you. Usually; these types of credit mailings aren’t assured if you do meet the criteria or otherwise not. They are usually a pre screening technique. Whatever the case, you will need to insure that the actual credit card offer is what you want it to be. Lastly, you will be able to get instant credit card approval online by simply entering your data on the net.

One more typical method to acquire the instant credit card approval which you are right after is to merely go on the web, try to look for credit card offers from several merchants and then to apply for the credit card. There are numerous ideal internet sites developed which can provide you with excellent offers for various credit cards. Drop by and come up with the choice as to which could be the perfect offer to suit your needs. Enter your personal details. They’ll then do a credit check, quickly, and come back with a deal available for you. You possibly can take the offer and acquire your credit within a few minutes.

It Is An Opportunity

Instant credit card approval opportunities are an excellent tool to acquire. Not every credit card businesses can provide for instant approval, but most do. However, the buyer need to realize if they are obtaining the offer that is certainly right for their requirements. And then, they can acquire the credit that will help to boost their lives, enable them to obtain the thing important and it will let you benefit over and again quickly. The instant credit card approval on the internet is a way to get what you look for immediately.

To make a decision if a Student Credit Cards certainly is the correct solution for you, Robert Alan recommends that you simply visit CreditCardAssist.com

Searching for a Credit Repair Business

Originally posted 2010-12-11 01:18:37. Republished by Blog Post Promoter

There are far too many controversies in regard to the credit repair business to disregard it. In fact, the reason that people who could benefit from the services of a credit repair professional but do not do so, is the “bad rap” the industry has gotten.

At the same time, it’s unfair and untrue that all those who repair credit are dishonest. You will also find professionals of high repute who will work very hard to restore your credit to “good health.” But the problem is how to determine which companies are trustworthy how to go about staying away from companies that are fraudulent.

Contrary to common belief, spotting a deceitful credit repair business is not that difficult. The first sign of danger is when such an agency purports to fix your credit score in a very short time

Because your credit history was formed over the span of many years, it’s just not possible to improve your credit score overnight. As soon as any credit repair business promises what you know is not possible, you should “dump” them, because they are clearly dishonest!

There are additional issues you need to watch for that will spell trouble. The scammers, most always, will demand full payment from the beginning.

It is illegal for a credit repair company to charge the fees before rendering any services. No matter how bad your credit report is, do not pay in advance of any services being rendered.

A less-than-reputable credit repair business is more than willing to use illegal methods. They may in fact recommend illegal tactics and try to convince you that it’s perfectly OK, since they have somebody on the “inside” in the credit bureaus who can cover up for them and you.

Don’t think for a moment they’re telling the truth! Do not encourage or accept any means to fix your credit unless it’s 100 percent legal. Regardless of how desperate your problems are, they will become much worse if you go outside the law to try and improve your situation.

If illegal means are used to improve your credit, you are the person primarily responsible; thus you stand to be prosecuted for breaking the law if you’re caught. Everything considered, it just isn’t worth risking it!

An additional way to know whether or not the credit repair business you’re considering is honest, is to ask that they counsel you in understanding the nature of credit repair. A respectable company will happily afford you advice and guidance in your endeavor to understand more about credit improvement.

A reputable company will take the role of a facilitator, while a fraudulent company will be reluctant to provide information concerning the credit repair process.

Originally posted 2010-02-07 05:29:18. Republished by Blog Post Promoter

It’s not difficult to carry out debt settlement negotiations yourself, but it’s quite often best to have a third party do it for you, and the best credit counseling agencies will often do it for you for a very low price.

There are lots of good, and even excellent debt settlement companies of course, but there are also a great number of bad, to very bad ones, and if you end up with one of those, you’ll not only spend a lot of money, but you might get next to nothing in return.

If you’ve already decided that the debt settlement route is the way to go, then I’d recommend either going with a BBB (Better Business Bureau) affiliated credit counseling agency, or doing it yourself.

The biggest problem that most people face when carrying out the negotiations themselves, is their mindset, and they often don’t understand that what’s good for them, is often not what’s good for the creditor.

Below Are 6 Pointers That Should Help You Negotiate With Creditors.

1) If you believe that you can bully a lender into lowering his interest rate and eliminating legitimate fees then you’re mistaken.

Despite what you might have read or heard, creditors aren’t required to help you, and the best way to deal with them is in with a calm, positive, and straightforward approach.

Do your best to create as positive an impression as you can, because it will bring about the best environment for negotiations.

2) Do your homework before you phone a creditor.

Try to see the negotiation from the creditor’s point of view, and write down all the questions that he’s likely to ask, and then think about all the possible replies. The worst thing that you want to happen during the call is that you become flustered or frustrated, and appear to be groping for answers. Be prepared to counter any unhelpful plan that the creditor suggests, but do so in a helpful and constructive way, and if you can offer any creative ideas that will leave the door open for future discussions, then so much the better.

3) Don’t expect the lender to be particularly sympathetic about your situation.

You got yourself into your present situation, and what you’re wanting to do will cost him money, and maybe a lot of it. Bear in mind that the person that your talking on the phone to has already heard every sob story in the book, and launching into yours will most likely just cause him to roll his eyes, and mentally disconnect. Stick to the facts and offer something tangible, something that makes business sense and will convince the lender that by helping you, he’ll be helping himself.

4) Try to negotiate as near as possible to the end of the lender’s fiscal month.

A fiscal month normally consists of full seven day weeks, and the most commonly used system by most companies is the 4-4-5 calendar. This means that the first two months of a quarter have four weeks and the last month has five weeks.

The reason for wanting to negotiate as near to the end of the month as possible is that most creditors much prefer to resolve outstanding issues before the first day of their fiscal month. It’s something which enables them to keep their bill processing clean throughout their bill consolidation process.

Don’t be in a hurry to play the bankruptcy card.

It might well force the creditor into making concessions, but it will also completely change the atmosphere from one of cooperation, to one of confrontation.

If the lender tells you to go ahead and file for Chapter 7, then you’ve most likely lost all chances of future negotiation with him.

Bankruptcy might of course be your best answer, but it will also destroy your credit rating for around seven years, and you should only consider it as a last resort.

6) Before threatening bankruptcy, it might be a whole lot better to remind the lender that the whole bureaucratic process of debt recovery is both time consuming and expensive, and mention that it most often leads to debt negotiation.

Tell him that you’re more than ready to compromise right now, and ask him to please reconsider. Suggest that perhaps it would be better to reach an arrangement sooner, rather than later.

The author of this article was a film producer, and award winning film sound editor for many years. One of his primary interests is economics, and one of his websites -> http://get-financial-help.org is for people with bad credit that need a loan. The cost of an extended list of lenders is extremely small, and anyone not getting a loan within 60 days gets a full refund.

Article Source: ArticleSpan

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