Archives for October 2010

Is Debt Consolidation right for me?

Debt Consolidation Advice What do debt consolidation companies do? They work for you by: 1. Review your situation and prepare a breakdown of your income vs. expenses 2. Negotiate a lower, affordable monthly payment for you to pay your creditors including collection agencies 3. Negotiate lower interest rates 4. Negotiate to eliminate or reduce late fees, over the limit charges and … [Read more...]

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Advice on Debt Management Plans

If you are attempting to simply manage your debts some advice would be to look into a debt management plan. What is a Debt Management Plan? A credit counseling agency works with your creditors to lower your interest payments on your unsecured debt so you can pay off your debts sooner. You pay the credit counseling agency and they pay your creditors? How much sooner will I pay off my debts? A Debt management plan … [Read more...]

New Debt Settlement Rules Protect you

Debt Advice Bureau Debt Settlement – New FTC Telemarketing Sales Rule Debt Relief Rule What is it? A new ruling that is designed to protect you, the consumer from shady/fraudulent “debt settlement” companies that were taking upfront fees and not doing anything buy stealing your money and making your credit situation worse. The key factor regarding this ruling is the “Advance Fee Ban” which makes it illegal to … [Read more...]

Your home and Chapter 13 bankruptcy

Your home and Chapter 13 bankruptcy Are you behind on your mortgage payments? If you’ve fallen on hard times and you’re trying to figure out how in the world you are going to afford to stay in your home then it really may make sense to look into Chapter 13 bankruptcy. Chapter 13 can offer you more time to get current on your mortgage and keep your home. A special note: If your intention is to keep your home … [Read more...]

Top 10 Food Budgeting Tips for College Students

Top 10 Food Budgeting Tips for College Students As more parents who are helping to support their kids through college are looking to be budget conscious they find themselves asking, how much should I be giving to my kid for food each month? Or maybe you’re the student and your paying your own way and really trying to figure out how much to budget for food per month. The quick and dirty answer is $150 to … [Read more...]

Advice on Debt

When to use Debt The best advise anyone can give regarding debt is to not be in debt or at least use it to your advantage. Have you ever heard the phrase “Credit is King”? Nope. How about the phrase “Cash is King”? Yep! That’s because ultimately it’s true. Do you like going to your mailbox every month and getting another statement that says you owe money… with interest? Or would it be a tad more … [Read more...]

Getting out of debt advice | Budget

Solid Budget Plan Ever been broke before? There is a definite discomfort in being broke and quite a relief in not. The best advice to getting out of debt is first to know where your money is going. Stop what you’re doing and consider what is important to you. Having a clear focus on what is important to you can offer you inspiration to be disciplined. You may be saying to yourself, I know how to … [Read more...]

Debt Settlement Advice

What is debt settlement? The concept of debt settlement is a principal reduction on the amount you owe paid with a bulk payment to your creditor to satisfy your debt. Ok, so you’ve got a ton of credit card debt and you just can’t make the payments. Maybe you’ve tried to lower your payments by contacting your lender to lower your interest rates. Maybe you’ve even tried debt consolidation and you just can’t … [Read more...]

Chapter 13 Bankruptcy | Overview

Chapter 13 Bankruptcy Chapter 13 Bankruptcy in general is a tool to stop foreclosure proceedings by allowing you to play catch up on mortgage debts or to consolidate all of your debts, including late ones over a 3 to 5 year span. This may make your monthly payments lower and depending on your situation a majority of you unsecured debts can be removed. Also, it can be used as a way to possibly get rid of an … [Read more...]

Best Debt Advice

Benefits to using credit cards to pay for everyday items Raise your hand if you like to shop. If I told you I would pay you to go shopping would you be up for it? A big Yep huh, I thought so. Well, that’s exactly what many credit cards do. The best debt advice is to use that credit card to get paid. There are great benefits to paying for everyday items on credit card… if you pay your card in full every … [Read more...]