Debt consolidation loans have become popular among people entangled in a mire of debt, hoping to get rid of financial obligations and tidy up their credit records. Be careful though because although this debt relief program can bail you out of debt and restore your credit score, it also has the potential to damage your finances and credit rating. How the program will affect your credit will highly depend on how you manage … [Read more...]
Archives for December 2011
3 Vital Facts You Must Know About Debt Consolidation Programs
With so many people meshed into the debt trap, debt consolidation programs have become sought after by people wanting to free themselves of the burden of debt. But what are these debt relief programs really, and can they absolutely wipe out debt? Here are some clarifications as to what these programs can and can’t do for a borrower. 1. Debt consolidation programs can possibly eliminate total debt, but not … [Read more...]
Do-It-Yourself Credit Card Debt Consolidation
When the economy was still fit as a fiddle and life was a bed of roses, credit card companies were the consumers’ best friend. But as the economy went downhill, the roses became nails in the form of unemployment, a pile of unpaid financial obligations, including credit card debt, collection letters and harassing collection calls from creditors. As if the other financial obligations are not enough, dealing with credit card … [Read more...]
Free Debt Counseling – How Does it Work?
Free Debt Counseling, Really? A free debt counseling session can help you get out of your current debt problems. But you may wonder how such debt counseling offered for free works? Just who would be willing to spend few minutes or an hour working with you in better managing your finances to get rid of your debts once and for all? Millions of people today are facing debt problems as a result of lavish spending, … [Read more...]
Money Groups
What is a Money Group and why might it make sense to be a part of one? Quite simply Money Groups are people who get together to encourage responsible behaviors around money. Do to the lack of financial education in this country it's pretty easy to see why so many have challenges around money. How to start a Money Group: Find others that you respect and that you are comfortable talking about money with. Try to … [Read more...]
All You Need to Know About Debt Consolidation Loans
Juggling three or more personal loans, such as credit card debts, medical bills, student loans, not to mention other financial obligations can already make monthly budgeting a strain. The complicated task may cause you to miss monthly payments, or you may simply just have a hard time making the payments due to the multiple debt inflamed by other financial challenges. So your multiple creditors are making sure your phone … [Read more...]
To Consolidate of Not To Consolidate? Make an Informed Choice Through Debt Consolidation Counseling
If you are facing a lot of debts, debt consolidation might be a tempting solution to consider. This is to put all your debts together in one creditor which is usually a bank so that you will only face one instead of many. This has the advantage of paying less in interest rate and of course, the reduced confusion which results from facing only one creditor. Now this may not be the best solution in your case and that is … [Read more...]
When to Sign Up for Debt Consolidation
Debt consolidation, by definition, is a process of combining numerous loans into one loan with the aim of either getting a lower interest rate across all loans, or ease in paying different loans. This may work well in most instances, but there are also several cases where debt consolidation is not ideal, or disadvantageous on the part of the debtor. This leads us to the question on when to get a debt consolidation that … [Read more...]
Dave Ramsey - Snowball Program
How do you get debt relief? If you are not totally in over your head with debt and can afford to make a plan to tackle your debt you may consider the possible benefits of using a system devised by Dave Ramsey called the Snowball approach. One major question people have is what bill should they be paying first. Check out Ramsey's approach and see if it makes sense for you. Here are few questions he asks and his … [Read more...]
Help for military members with too much debt
When you are in debt it can weigh heavy on your mind. When you are in the military these concerns can compound. What do you do, get a consolidation loan, try to settle with your creditors, or bankruptcy? Military debt consolidation loans are an excellent way for military members to consolidate debt even if with have poor credit. If you are an active duty military person, you may … [Read more...]