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Consumer debt, and lots of it, is the norm rather than the exception in today's society. It's also one of the main causes of the difficult economic situation that the nation is facing. Often, handling debt is a matter of extremes. One extreme is people living completely debt free. The other extreme has people drowning in debt. Realistically, the solution probably lies somewhere in the middle. Before making drastic changes to your debt load, spend some time reading these thoughts about using and managing debt effectively.
The cost of credit is not as easy as simply knowing the interest rate. Learn how to calculate the APR to make good credit decisions.
Your Debt-to-Income Ratio is a crucial personal financial health indicator. Find out how to calculate it and what it means to you.
Debt Consolidation Counseling can be a good option for those struggling with debt, but how do you know if it is the right option for you? Take a look at our guide and make an informed decision.
If you’re struggling with debt – as many consumers are – you may be looking for a way to pay off your bills and get back on track financially. Debt consolidation loans for bad credit profiles are one way to get out of debt, but you may be wondering where to look if you’ve been turned down by your bank or credit union. Before you go down the wrong road, take some time to realize there are choices for you, regardless of your credit history and financial situation
Debt relief comes in many forms- credit counseling, debt consolidation loans, settlement and even bankruptcy. Each solution will help you get out of debt, but the long term impacts and fees can vary greatly. Understand the myth and reality behind your debt relief options.
Regardless of whether you binge on shopping or simply use credit cards to make ends meet, there may come a time when you need a financial intervention to help organize your bills, repay your debt, and improve your finances. For some, debt consolidation is the answer. But before you jump in head first, it's time for a course in Debt Consolidation 101.
A debt consolidation loan can be a great tool for people with bad credit to help them get their finances back on track. By combining your existing bills into one new, monthly payment, you’ll be able to pay off most of your debts and work on becoming debt-free for the long term. But if you’re one of the many consumers with bad credit, you may be wondering whether you even qualify for a consolidation loan.
Bankruptcy. Just saying the word can bring a lump to your throat and put a knot in your stomach. What is bankruptcy, and how do you know if it's for you?
If you have lots of debt, consolidation may save you time and money. Depending on your financial situation, there may be a solution that's right for you.
You're in a financial bind. It's difficult to make your monthly payments. Maybe you're thinking about declaring personal bankruptcy. Do you know there are alternatives to bankruptcy?
Debt consolidation works by combining your payments on unsecured debts owed to creditors into one monthly payment, with other benefits such as lower interest rates or a reduced overall debt, depending on the type of plan you choose. Different plans work in different ways, but the aim is to help you get out of debt as fast as possible.
Credit card settlement isn’t your only choice when it comes to managing credit card bills and getting out of debt. If you’ve missed several payments, you can’t see a way to pay off your balance, or you’re on the brink of declaring bankruptcy, you should consider these credit card debt settlement tips and alternatives, which can bring you debt relief and peace of mind.
Ten tough questions to ask to see if you are ready to make the commitment to getting out of credit card debt once and for all.
Feeling overwhelmed by your debts? Having trouble making ends meet? Unable to get ahead of your credit card debts? A Debt Relief plan may be your solution to getting control of your finances.
When faced with mounting bills, many consumers explore debt consolidation loans as a way to get their finances back on track as quickly as possible. And while a debt consolidation loan may be a great solution for you, it's important to weigh your options to determine the best plan for you and your specific financial situation.
Because of the economy, millions of people across the country are looking for debt help. If you’re one of those millions, you may be facing overdue loans, calls from debt collectors, and increasing late fees and interest rates. In many cases, the best way to get rid of these debt problems is to work with professional debt-relief provider.
Wouldn’t it be nice if there was a magical way to pay off your debts and gain financial independence? Unfortunately, there won’t be any magic involved because no one is going to swoop in and make your debt disappear, but there is a solution.
If you’re like many other Americans, you racked up some debt in order to afford your college education. Actually, you racked up a lot of it. According to a recent article in the U.S. News & World Report, total outstanding student loan debt in the United States surpassed total credit card debt in 2010. Perhaps even more shocking is that outstanding student loan debt is expected to exceed $1 trillion this year. That’s a lot of zeroes!
For some people, understanding how to negotiate credit card debt may be a great first step for getting their finances back in order. You’ll have to contact your credit card company and know who to approach, what terms to ask for, and where to go if you need more help.
The decision to eliminate your debt or put your money into savings is a tough one. There are many variables to consider before making the best decision for your situation.
Regardless of the amount of debt you are in, debt often brings about feelings of anxiety, fear, frustration, and sometimes shame. While your fears and feelings are valid, it's important to overcome these emotions, pull yourself together, and get on the right track to paying off your credit card debt. Credit cards can be a great tool in establishing or rebuilding credit, but are only valuable when used responsibly.
Nobody enjoys paying bills, but if every mail delivery brings more demands for money, the bills are mounting up in a pile, and you’re juggling the debt you already owe with new expenses arriving every day, it’s time to take control and reassess your approach to paying bills.
When it’s so easy to whip out a credit card every time you want to buy something, it’s no wonder so many Americans are in debt. In fact, according to Creditcards.com, the average credit card debt per household with credit card debt is approximately $15,000. Add in high interest rates on owed balances of around 14%, and consumers often find themselves struggling just to make minimum monthly payments, let alone pay down any principal.
The average American spends more than half of their yearly salary on the three major expenses of housing, cars, and food. Take a look at the chart below for some eye-opening facts about how a 4-person American family with an average income after taxes of $89,803 spent the bulk of their yearly paycheck ($68,481) in 2009.
Consumers seeking credit card debt solutions have various options, from balance transfers and debt consolidation loans, to professional help from a debt relief company if the problem feels too overwhelming to overcome on their own.
Making the decision to consolidate your bills with a debt relief plan shouldn't be taken lightly. Despite the proliferation of ads marketing the benefits of bill consolidation, many consumers find that they're able to save time and money by paying off their debts on their own. However, if you're in over your head, a bill consolidation program is one option that can help you get out of debt and plan for your financial future.
Debt consolidation comes in many shapes and sizes, as do the companies that offer ways to manage your finances. From "bad credit" consolidation loans for consumers with less-than-perfect credit to so-called "payday" loans to debt settlement plans, the list is nearly endless. So as a consumer, how do you select the best option for your financial situation? Outline your financial goals, research consolidation companies and review your debt consolidation choices.
If you're like most American consumers, you've seen the ads touting the benefits of consolidating your credit card debt with a balance transfer offer or a personal or home equity loan. Before the most recent economic recession, you couldn't open your mailbox without finding numerous offers per week to consolidate your credit card debt through 0% balance transfers and other plans. And while lending criteria has become much tighter since 2009, the offers are still available, even for those with blemished credit histories and large credit card balances.
If you’re one of the millions of Americans with overwhelming credit card debt, you may have looked into a credit card consolidation loan to tackle your debt. And while a consolidation loan for credit cards can be a good option when you have a lot of bills to pay off, there are plenty of alternatives to consider. Each has its own pros and cons.
Considering credit card debt reduction? Follow these eight simple steps to ensure your credit card debt reduction plans are successful.
You may be able to eliminate credit card debt on your own without resorting to a bill consolidation lender or debt relief company for help.
Thinking of debt consolidation? Consumers who consolidate debt into one payment can reap many benefits, including fewer monthly bills and peace of mind.
Following a few simple steps can help you pay down credit card balances, and learn how to get out of credit card debt, and get your finances back on track.
According to the Federal Reserve, in 2009 U.S. consumer debt stood at nearly $2.5 trillion. That's more than $8,000 of debt for every man, woman, and child in the United States. And although our debt picture has shown marked improvement in 2010 - we're borrowing less and paying down more debt - the U.S. is still considered a nation of overindulgence and overspending. So it's no wonder so many consumers are looking to debt relief companies to help them pay off their bills and get back on track financially.
Looking for a bill consolidation loan to help with your debt? Beware of scams and ask for the details before you commit to a debt consolidation loan.
When you’re battling debt, you have a myriad of options to pay off your bills and get on the road to better money management. From lenders to debt management companies to non-profit consumer credit counseling agencies, it may seem you have the world at your fingertips, all ready to help you wipe your financial slate clean and become debt-free. But those lenders and consumer credit counseling services may not be all that they promise, it’s up to you to choose the right path for your financial needs.
Debt collectors, comprised of collection agencies, certain types of lawyers, and companies that buy delinquent debts and try to collect them, have one purpose: To get their hands on money owed to them or others as quickly as possible. Therefore, their tactics toward achieving this goal may sometimes be ruthless, so you need to understand your rights as a consumer, as well as how to handle harassing phone calls and letters, and get help with debt collection if you need it.
Most people have a combination of secured and unsecured debt; when faced with financial hardship understanding the difference is important.
The U.S. government’s credit downgrade should have a minimal affect on you, your debt plan, and the interest rates you pay. Read here to learn more.
If you're like many consumers, you may be having a hard time keeping up with your bills. Credit card balances, medical expenses and other unsecured debt can quickly add up, making it tough to make ends meet, let alone save for the future. Fortunately, you don't have to go it alone when it comes to finding debt-relief. Debt consolidation - which may be in the form of a loan, debt management plan or debt settlement - is one way to pay off your bills and get on the road to financial freedom.
Working with a credit counseling agency can provide help creating realistic budgets and implementing strategies for paying off debts. The key, however, is to find a reputable company that will provide answers and solutions tailored to your needs.
Once you’ve exhausted your options for debt relief, you may have made the decision to file for bankruptcy. If you’ve done your research, you know the Federal Trade Commission requires mandatory credit counseling for bankruptcy claims. It’s important that you understand the stipulations of the law, as well as your rights when it comes to credit counseling.
Are your budgeting and spending habits in desperate need of improvement? Do you struggle to pay your bills on time? Are your accounts in default? If you answered "yes" to any of these questions, consider receiving consumer credit counseling services from a reputable organization like a provider of CareOne Debt Relief Services®.
There’s never been a better time to pay off your credit card debt. Pay off credit card debt and reduce stress while improving your financial situation.
Most people in debt use many excuses and rationalizations that stop them from getting the help they really need to get out of debt. Are you?
Need debt relief? If your debt is spiraling out of control, federal legislation and various repayment plans can help you gain credit card relief.
Considering consumer credit counseling? Learn what capabilities, characteristics, and features to look for in a credit counseling service provider.
First, admit that you have a debt problem. Then, print this worksheet to evaluate available debt reduction & put your plan down on paper!
Are you concerned that your car or other personal property is in danger of being repossessed? For many people, those fears are well-founded. A report from the Better Business Bureau reveals that about 1.7 million vehicles were expected to be repossessed in a year's time. On top of that, a recent New York Daily News article states that over one million homes may face foreclosure in 2010.
Americans are winning the war against debt, but individuals are still in need of debt solutions. Find out what debt solutions are available to you.
Wondering if debt settlement is the right debt-relief option for you? Discover how debt settlement works and how it may be able to help resolve your debt.
To get help paying bills, many consumers turn to debt relief companies. Learn how you can get help with paying your bills by using our tools and solutions.
Credit card consolidation may be an effective debt-relief option for many consumers. Read about options available to consolidate your credit card debt.
A consumer debt management plan is a worthy strategy to consider if youre struggling to make minimum payments on your unsecured debts. So if you're someone with mounting credit and department store card balances, medical bills, or other unsecured accounts in collection, read on.
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