How You Could Benefit From Debt Management

Originally posted 2010-03-03 02:22:18. Republished by Blog Post Promoter

Falling into debt is a life changing experience that can affect not only the person who owes but also the whole of the family. Many individuals owe money at some point in their lives whether this is through using credit cards, using home shopping catalogues or by taking out a loan. For many repaying never becomes a problem, but for many more debt takes over their life, often through no fault of their own and they spiral deeper and deeper down. Many struggle on in a never ending battle of receiving red letters and threats of being taken to court and juggling bills around in despair that something will come along and allow them to catch up. This very rarely happens unless specific steps are taken towards becoming debt free. One way of breaking free of your debt worries if by looking into the many choices of debt management with the help of a specialist company.

Choices for debt management

There are several options for debt management which you might want to consider. There are pros and cons to weigh up and your situation, for example how much you owe and to whom, will need to be taken into account when choosing the best option for your needs. You might want to consider a debt management plan, a debt consolidation loan or an IVA. When considering any of these options it is essential that you get the correct and help and guidance. A specialist debt management company will be able to offer impartial advice to help you choose the debt management solution that could be more suitable for your personal situation and help you to stick to your chosen plan.

An Individual voluntary arrangement

An IVA can be an alternative to bankruptcy and is far less restrictive. In simple terms the IVA is an arrangement made between those in debt and their creditors. The arrangement involves the debtor repaying a percentage of the debts owed over a specific amount of time, which is usually around 5 years. The IVA is made under an insolvency practitioner and when the IVA has reached its term any debt that remains outstanding is written off.

Debt consolidation loans

A consolidation loan could be a good choice if you are paying a high rate of interest to your creditor/creditors. By choosing a consolidation loan with a much lower rate of interest and spreading the repayments over a longer term you could save money each month, just have one creditor to pay back and be free of debt when the term of the loan has been reached.

A debt management plan

If you cannot get a loan due to bad credit history then you might want to consider the debt management plan. Your debt manager would work out with you how much you have coming into the home and going out. You would then come to an agreement that was affordable for an amount you would be able to pay back each month. The manager would negotiate with your creditors and if accepted you would pay the agreed monthly instalment to the manager and they would pay 100% of this money to your creditors each month.

Oliver Wingrove is a debt management specialist. If you need help with debts and want to know more about entering into a debt management plan or you simply have IVA questions that you would like answers to, contact us. We provide free and impartial debt advice and by taking that step you could become debt free and begin living life without stress and worry of debt.

Article Source: ArticleSpan

Reasons Why We Get Into Debt

Originally posted 2012-03-14 09:00:36. Republished by Blog Post Promoter

A Debt is one of the worst thing to get yourself into especially if you cannot pay it. It is one of the worst experiences that can happen to any individual especially when the debts are too much to clear. However, studies show that getting into debt is a reflection of our poor spending habits and that we have the power to get ourselves out of debts. However, you can get out of debt or avoid it if you knew the reasons why you are plagued with debt in the first place.

One of the reasons why the burden of debt becomes so overwhelming is because many of us let it accumulate over a long time. The difficulty of getting out of debt has even led some people to commit suicide. If you have a debt, you should try to reduce it as fast and as much as you can. Letting debts to pile up is one of the biggest mistakes that people make. Your creditors won’t be happy if you sit back and relax and they will pressure you more due to the impression of your complacency.

Next, credit cards can increase your debt in astronomical proportions and you should be very afraid of them. You should do away with credit cards that you can do well without. If possible, you should have only one credit card. This will ensure that you are able to control your spending habits and stop impulsive buying. To avoid getting into debt, you can begin by destroying your credit cards. This brings me to the point about your unplanned expenditure. Whatever nice thing you will come across will make you want to buy it as much as the credit card allows you to. Note book will really help you for putting the figures and items in writing for future reference.

You don’t have to be an accountant to make meaningful records of income and expenditure. If you can plan the way you spend, you can easily control yourself. As you are budgeting, you should separate necessities from luxury items.

If you buy a piece of candy, put it down in writing. This will make you focus on the things that you need at that time. If you buy something that is not a priority in your list, you should consider it a luxury.

Get more information today at:
Getting Out Of Debt
Getting Rid Of Debt

Are Lazy Journalists Giving Debt Settlement A Bum Rap?

Originally posted 2010-03-26 13:14:52. Republished by Blog Post Promoter

Just a casual glance at a few articles on the same subject on the web will show that they have the same spelling mistakes, the same layouts and the same opinions, and far worse, you’ll find identical articles with the original writer’s name having been removed or changed.

This simply means that instead of doing research and writing something meaningful, that the so called writer or author simply copied and pasted somebody else’s words.

The vast majority of articles are now short on facts too, and more often than not they simply express an opinion, and are the kind of piece that almost anybody can knock out in a few effortless minutes.

So Why Is That?

The simple, and only seeming explanation for the behavior would appear to be laziness, and it’s widespread and not simply an American phenomenon.

So What Happened To Investigative Journalism?

Investigative journalism is hard work, and it means getting out and talking to people, digging deep and writing very few articles, and a good investigative journalist might spend weeks or months writing an in depth article, and certainly can’t churn out a new one every day or week.

The Bad Debt Phenomenon Deserves Good Journalism.

Every journalist that’s at all worthy of his salt, must know that millions of Americans are drowning under debt, and a good investigative story into what might help them would not only be a top story, but would help a great number of people too.

The Debt Settlement Business.

When did you last read an article in which the journalist discussed talking to somebody in the debt settlement business?

Probably never.

What’s now extremely common, is for so called journalists to see a new release about debt settlement or any other subject, and liking the article, they’ll almost immediately republish it after making few if any changes.

An Interview.

I did take the trouble however to talk to somebody that’s been in the debt settlement business for many years, and here’s what he told me.

Debt Settlement.

a) Is definitely not for everyone, but it’s generally right for people with more than $10,000 in unsecured debt who have encountered some kind of hardship such as divorce, a job loss, or have suddenly encountered unexpected medical bills, any of which makes it impossible for them to honor their financial obligations.

b) Plays an important and legitimate role in helping these people slash their credit card debt, and get back in control of their lives.

c) Has steadily gained acceptance since 2005, when new laws made Chapter 7 bankruptcy much harder for many people to file.

d) Gets fewer Better Business Bureau complaints than a popular alternative, which is credit counseling, and it successfully resolves a higher percentage of them.

What About The Bad Companies?

I asked him to talk about recent articles that have given debt settlement a bad rap, and asked him to put forward some kind of defense, and he gave two recently published stories as examples.

The first was a recent AP (Associated Press) article that was given nationwide coverage, which he said,

a) Was typical of the current run of articles, since it was incomplete, and only partially sourced.

b) Contained no quotes or comments by anyone in the debt settlement business.

c) Contained frequent quotes by an executive of the NFCC (National Foundation for Credit Counseling) and even provided a link to their website.

d) Contained no mention of The Association of Settlement Companies, which is the professional association for the debt settlement industry. TASC has close to a thousand member companies which are governed by strict rules that are strongly enforced, and it also follows up on any complaints from the public.

He added that the NFCC was established by banks and credit card companies and is supported by them, and asked, "would an organization that was founded and is supported by banking interests put its stamp of approval on a legitimate, and highly effective alternative approach to reducing credit card debt?".

The second article he took to task was published in USA Today, and he gave it slightly higher marks.

The writer of the article did include the quote, "For some borrowers with large debts that can’t be repaid within three to five years, a reputable debt settlement company may offer an alternative to bankruptcy", but the quote followed a remark which compared debt settlement to "weight-loss product that causes you to gain 10 pounds".

The writer of the USA Today article also referred readers to debtadvice.org and the Website of the Association of Independent Consumer Credit Counseling Agencies, but again made no mention of TASC, and offered no link to its website.

What Should Good Debt Settlement Companies Do?

a) They should explain the advantages and disadvantages up front, stating plainly that debt settlement is not for everyone.

b) Keep the client involved and updated as to every debt settlement decision that needs to be made, and not decide for the client in which order debts should be settled.

c) Clearly explain what the costs will be, and collect their fees over a period of several months so the client doesn’t suddenly get hit with a big bill all at once.

To Summarize

a) It would seem clear from the interview, that debt settlement is only right for some people, and in certain situations.

b) That even if it’s the right choice, that the person considering debt settlement should only go with a reputable Debt Settlement Company that’s BBB (Better Business Bureau) recommended.

More and more journalists are losing their jobs because of the Internet, but many could still make a fine living, and a name for themselves if they got up off their butts and started working for a living.

The author of this article was a film producer, and award winning film sound editor for many years. He has a passion and a flare for economics, and one of his websites -> http://pay-off-debts.org features a large number of highly popular articles about the world’s economy in general, and debts, debt settlement, debt consolidation and bankruptcy in particular.

Article Source: ArticleSpan

Solutions for the Management of Debt

Originally posted 2010-03-21 06:55:51. Republished by Blog Post Promoter

In today’s receding economy, thousands of people are struggling just to make ends meet. With numerous layoffs around the country every day, the pressures of potential job losses can cause fear and stress, especially when faced with debts like credit card or mortgage payments. Many people, unable to keep track of the escalating monthly payments, are threatened with bankruptcy and foreclosure, which will ruin credit.

One of the biggest problems is keeping track of all the monthly payments for each credit card or mortgage payment. With a market that was so heavily focused on buying now and paying later, consumers need debt management now more than ever. There are several things that can be done to structure payments so that they are affordable on a monthly basis.

Debt Management
A Debt Management Plan is a method for paying personal unsecured debts (such as personal loans, credit cards, bank overdrafts, and store cards, etc.), which may be so late and out of control that they have become too costly and may even exceed a person’s income. Debt management can consolidate those payments into one low cost, affordable payment.

Debt Settlement
Debt settlement, also known as debt arbitration or debt negotiation, is an approach at debt reduction in which the debtor and creditor agree on a reduced balance that will be regarded as payment in full. Often a debt settlement company will negotiate with the creditor in the debtor’s behalf to reduce the overall debts in exchange for an agreement upon regular payments. This is normally only used in the case of credit card debt. Many companies have different ways of going about this method, but the desired end result is a payment that the debtor can afford.

Foreclosure Prevention
Often when a debtor is in over their head in mortgage payments, a debt management company may be able to step in, contact the lender, stop the foreclosure process, and review the loan documents with the lender in order to structure a more comfortable monthly payment.

Often good debt management companies are structured to act as a service to help struggling debtors and may be specialized, such as Christian debt management companies. With the situation of the current economy, many consumers are faced with unexpected, escalating debts and out of control payments. A debt management agency specializing in one of the above methods could be the answer to frustrating financial problems and potential credit disasters.

Reliance, Inc runs http://www.christianinfoondebts.org, an online service specializing in Christian debt management. Art Gib is a freelance writer.

Article Source: ArticleSpan

Top Debt Elimination Software That Actually Works

Originally posted 2011-01-01 02:05:03. Republished by Blog Post Promoter

The main objective for the use of a debt elimination software is the creation of a viable plan to assist users get out of debt. Lots of people don’t know how to deal with their bills and how to organize them efficiently. With a debt elimination software you can create a timetable with the bills and then follow step-by-step instructions so as to fill them. Many categories of consumers can use such a tool.

If you have followed the common concept associated with credit cards, ‘buy now, pay later’, you most certainly qualify for the use of a debt elimination software. Such programs are usually available online and they are totally free of charge. Just download the application on the PC and follow the guidelines to improve the management of your finances. There is no better moment than now to start reviewing your expenses.

In many cases, a debt elimination software may be an alternative to consolidation. Why? You will have a revelation when you finally understand that you consume more than you need and than you can afford and that you can lead a nice life without spending hundreds and hundreds of dollars. When you create a debt repayment plan you cut down those expenses that are unnecessary and you change your behavior as a service and product consumer.

With a debt elimination software you have all the chances of spending less than your budget, which means that you can make savings, start paying extra debts and little by little end cumbersome loan repayments. Without making any other loan against one of your assets, you should be able to manage bills by using only the money you bring home. And you’ll see that a lot of the stress goes away.

If you manage to save money thanks to a debt elimination software and the plans that it can generate for you, then, you can considerably shorten the life of the existing loans. Instead of 20-year payment of the mortgage you can reduce it to 10 or 15 years which is quite an achievement. On the other hand, debt consolidation will by contrast prolong the life of your debt extending it to 25 or 30 years. Now, it’s up to you to handle things properly. And it can all start with just a debt elimination software!

Benefits Of Debt Consolidation For Bad Credit

Originally posted 2012-01-09 03:00:50. Republished by Blog Post Promoter

If you feel pressured and stressed with many responsibilities related to loans and credit, perhaps now is the time for you to free yourself through a debt consolidation for bad credit program. When you want to reduce the debt burden and the bad credit situation, then it is advised that you must go for the bad credit consolidation. You can receive debt consolidation services through various companies that specialize in helping customers with bad credit to get personal debt consolidation loans at the best rates possible. In this way you will be able to lessen your debt burden and become debt free faster.

The goal is to consolidate multiple loans and pay your obligations off through one low interest rate debt. Most of the companies will offer you the free debt consolidation service for the loans available at a lower rate of interest and also for longer durations. You can easily pay off these loans with a reasonable monthly installment at a proper time. With this process you can make the regular payments at a proper time that will reflect on your credit report and you can rebuild your credit. So we can say that these consolidation companies have two main benefits and they help you to realize your goals.

Should be in a hurry find out more, look at the Low Interest Consolidation Loans For Credit Cards report soon.

Quite a number of people cannot keep any track of what they buy and finally accumulate big amount of loans through their credit cards. When they find themselves under piles of debts they go for loans for recovery. Most of them go for these loans to reduce older ones which again create huge debts.



This is a fact that all the loans taken for paying off debts are not bad and professionals who offer free debt consolidation help can make available comfortable and affordable loans that lessen your credit card debts and end harassing calls from the creditors. In bad credit debt consolidation loans the professionals offers loans even if you have a bad credit or even a negative credit rating.

The various aspects of the professionals giving out loans and bill consolidation help, are providing services like managing your finances and planning the same for better, negotiating with the creditors and helping you to get loans at low interest rate in order to pay off all the multiple loans and credit card payment requirements.

Quite a few debt consolidation for bad credit companies charge you for offering services on consolidation loans but a lot other offer the same service without the charge. Many non-profit and other companies help you to get out of the debt trap without charging large amount of money. At first these companies check your papers, debts and income situation and on this basis of these you will get best debt management plan depending on your debt situation. According to your financial status, you can get a financial plan, loan or both from these companies to consolidate your debt payment requirements and loans.If you wish to you can gather more information. Examine the Easiest Credit Card To Get With Bad Credit page.

It will be an additional help in a bad credit situation to go for credit counselling and bad credit debt consolidation companies that will provide you free services such as an analysis of your debts and income, as well as free loan quotes.

Tips And Tools To Help You Repair Your Credit

Originally posted 2012-02-29 23:25:52. Republished by Blog Post Promoter

Many people do not realize that your credit score determines a great deal more in your life than whether or not you qualify for a loan or not. Your insurance rates, employment opportunities and several other things in your life is going to be effected by a bad credit score. Learn ways to increase your score by reading further.

If you have several credit cards(eliminate credit card debt legally) to pay off, start by paying off the one with the lowest amount. This means you can get it paid off quicker before the interest rate goes up. You also have to stop charging all your credit cards so that you can pay off the next smallest credit card, once you are done with the first one.

If you are trying to repair your credit score, you need a major credit card. While using a store or gas card can be an initial benefit, especially if your credit is extremely poor, to get the best credit you need a major credit card. If you can’t get one with a major company, try for a secured card that converts to a regular card after a certain number of on-time payments.

If you do not have a significant balance on your credit card, but want to work on improving your credit score, use your card for day to day purchases. The most important thing to remember when doing this is that you pay the balance in full each month. This will show lenders that you can be responsible.

If you plan to repair your credit you should read the Fair Credit Reporting Act. Knowing your rights can be critical when repairing your credit. There may be debts on your record that are inaccurate, which you have the right to dispute. There are also reporting time lines, so if you know your rights cleaning up your credit will be that much easier.



Don’t use all of the credit available to you. Credit agencies use a debt to available credit ratio when calculating FICO scores. When debt is at a high percentage, the credit score is lowered. Keeping available credit on every account that you have will not only help your score, but will also give you some options should there be a costly emergency.

You should be sure to fix any information on your credit report that may be inaccurate. Every year there are many errors that are incorrectly reported to credit reporting agencies. You should carefully review your report, and contact the credit reporting agency to dispute any errors you find. Follow up to make sure proper corrections are made.

If you are trying to repair your credit(Fair Debt Collection Practices Act), try negotiating with your creditors. If you make an offer late in the month, and have a method of paying instantly, such as a wire transfer, they may be more likely to accept less than the full amount that you owe. If the creditor realizes you will pay them right away on the reduced amount, it may be worth it to them over continuing collections expenses to get the full amount.

As it was stated at the beginning of this article, your entire life could be effected by having a bad credit score. Take the tips that you have learned from this article and put them to work to raise your credit score and improve your overall credit standing so your life will not be effected negatively by it.

Originally posted 2010-03-20 04:46:42. Republished by Blog Post Promoter

If you are looking for a St. Louis debt settlement office to be the solution to your credit card debt, harassment from your creditors, and the effects debt is having on your life, you may be in for a surprise. Many people fall for the allure of the average debt settlement advertisement–making promises that sound too good to be true and implying that you’ll be able to just throw your debt back in the face of your creditors.

Regrettably, most promises that sound too good to be true usually turn out to be just that: too good to be true.

The basic idea of debt settlement is that you’ll be able to negotiate with your creditors and only pay pennies on the dollar for your debts. If that were the solution to all the problems that come with debt, debt settlement companies would be a booming industry. Being in debt is more than just owing money to a lender. It changes your life—creditors harass you over the phone, threaten to foreclose or repossess your car, and even garnish your wages or levy your bank accounts.

Unfortunately, a debt settlement office in St. Louis doesn’t have the legal power to stop any of these things from happening to you. They don’t even have the power to eliminate your debt completely, stop you from being sued, or stop interest and late fees from accumulating on all your debts. There are also hefty fees associated with debt settlement—and no promise of any result. Debt settlement offices have you make payments directly to them until they get enough of a pool of money to make an offer to the lender. To make matters worse, the biggest portion of your initial lump sum is for their fee.

On top of all this, many debt settlement offices in St. Louis have turned out to be fraudulent companies. So, where can you turn when you need to stop a wage garnishment, get protection from foreclosure and repossession for your family, and completely eliminate your debts with very few exceptions?Not only can Missouri and Illinois Chapter 7 bankruptcy protect you from your creditors legally, it can also get rid of your debt altogether instead of just settling it for pennies on the dollar.

Chapter 7 bankruptcy is a powerful federal law—and your creditors must face the facts and accept your bankruptcy. That must be why people who are truly dedicated to escaping their creditors and the negative effects of debt tend to contact a St. Louis Missouri bankruptcy attorney instead of debt settlement. To educate yourself on the safest ways to get out of debt, find free information from experienced St. Louis, Missouri bankruptcy attorneys in your area.

Missouri Bankruptcy attorney James Brown has been working to relieve the debt of hard-working American families for over 15 years. He has dedicated his career to educating consumers about options for debt relief and has released 5 publications, including, “Get Out of Debt: Secrets Your Creditors Don’t Want You to Know.” You can request a free copy at http://www.castlelaw.net

Article Source: ArticleSpan

Originally posted 2010-03-21 06:55:51. Republished by Blog Post Promoter

Millions of Americans have found themselves trapped in the financial crisis of the last two years. The toll it has taken is enormous, whether from people losing their homes, finding themselves out of a job and mired in debt, having their retirement savings cut in half, or facing a substantially lower standard of living. Besides the financial impact, it has also robbed people of their feeling of self-esteem and their hope for the future. Many families have made "Get out of debt" one of their primary goals.

Depending on how serious their financial difficulties are, it may take years for many of these individuals to fully recover, but there are ways to accelerate the healing process. And it’s not simply a matter of healing families’ balance sheets, but also healing their hearts and psyches as well. This has implications for the U.S. economy as a whole, because faith in our nation’s future has been a perennial driving force in creating and sustaining economic growth and prosperity.

A good first step to take in the healing process is:

Don’t get caught up in the endless cycle of media gloom and doom.

The press has clearly contributed to the national financial crisis by constantly emphasizing the worst possible statistics. This is particularly dangerous when it becomes a self-fulfilling prophecy. Individuals and businesses become frightened about their future and decide not to make purchases or investments, with the result that the economy contracts even further.

The housing market is a perfect example of this. Think about the headlines in recent months that screamed, "Home values fall by record levels!!!" Four or five years ago, do you remember any headlines that said, "Home values rise by record levels!!!" or "A trillion dollars of wealth created for American homeowners!!!" Of course you don’t. Because at that time all they had to say was that home affordability was dropping by record levels, and they lamented that if the uptrend in home values continued, soon the middle class would not be able to buy a home anymore. A rising housing market was great news for the majority of Americans. Somehow the media didn’t see it that way.

One strategy for healing is to cut down on the consumption of excessively gloomy, toxic news. This doesn’t mean it is advisable to adopt the posture of an ostrich and disengage from the world around us; it just means don’t let yourself be inundated with this relentlessly bad media spin at all hours of day at work and at home. Concentrate on your own efforts at financial recovery, and don’t let the negativity in the news media bring you down. According to the media the old saying no news is good news should be good news is no news. Keep track of what’s going on the financial world but don’t become mired in it.

Focus on the upside of how you’ll feel when you finally get out of debt. The freedom from worry, sleepless nights, and creditors calling are well worth the belt tightening you may have to do.

More tips and hope to get out of debt Brian Hill is the author of several nonfiction books, the founder of Profit Dynamics Inc., a management consulting company focusing on business planning and venture capital. He also is a screenwriter. Brian is a contributor to Credit Card and Debt Management

Article Source: ArticleSpan

Paying Off Credit Debt

Originally posted 2011-11-30 01:04:52. Republished by Blog Post Promoter

The Main Facts One Ought To Know About Paying Off Credit Debt


If you’re looking for methods to how to get rid of credit card debt, you have come to the right place. Here are a few great suggestions to get you started.

First of all, it might be possible to negotiate a less pay off amount with a charge card business. Many businesses will accept around 30 percentage points less than the total amount due in a single settlement. This will get you started on the right track.

Secondly, pay over the total month to month minimum. The total minimum loan payment caution on the new charge card statement tells you how much time it will take to pay off the debt if you only pay the total minimum, and how much you’ll be paying in interest. For each of your charge cards, any sum you pay over the whole minimum will be put towards the balance with the highest interest rate, allowing you to pay towards your debt off faster and reduce the ovearall amount of interest you pay. This is a solid tip for how to get rid of credit card debt.

Additionally, while cash advance fees aren’t likely to go away, many charge card issuers will eliminate late fees and over-limit charges if you do not always incur these. All that you have to do is ask..

In conclusion, Know how much cash you owe – Before you start to pay down your debts, you have to know and determine exactly what your debts are. The best way to achieve this is to build a full list with all of your debts and the most necessary info about each particular payment obligation. Also, you must figure out which expense has the highest rate and assign the greatest priority to it. This will truly help finish off the process for you, when you’re looking at how to get rid of credit card debt.

 Page 6 of 21  « First  ... « 4  5  6  7  8 » ...  Last »