People who are under a mountain of debt can be desperate for any way out of their situation. They may try to find debt consolidation information on the Internet, but they could find themselves in a worse situation if they take the first offer that comes along.
There are payday loan and consolidation loan websites that charge fees and interest to give you quick cash that just as quickly comes out of your checking account on payday. However, not all online debt consolidation services are scams or run by loan sharks. There are companies online who will help you consolidate your debt and provide tools, so you can protect your financial future.
Debt Management Programs
These programs offer the debtor the ability to combine their debt into one easy monthly payment to a debt consolidation service. A debt consolidator will also talk with your creditors and negotiate a lower monthly payment, usually with a lower interest rate and fees waived. This will save you thousands of dollars over the course of the program. Plus, once you make your payment to the debt consolidation service, they distribute the payment to your various creditors. Remember – a responsible company like creditguard of america does not do debt consolidation loans – these are a dangerous form of debt relief as it only leads to more debt. This eliminates the monthly stress of sending out multiple payments to multiple creditors.
Responsible online debt consolidation services also offer financial management counseling to debtors who want to learn how to manage their money effectively, so they are never faced with this situation again. An experienced credit counselor will help you learn about personal budgeting and credit management, so you can make the best financial decisions in the future.
Programs to Avoid
Websites that offer loans to “wipe out your debt” are simply getting you into more debt with no help for your future financial well-being. You should never work with a company that offers you a solution to your debt “problem” before reviewing your financial situation or those companies that charge upfront fees for “helping” you. You could find yourself paying more than you can afford and getting no further financially. Other red flags include:
- Limited time offers that expire “soon”
- Trying to have you commit to their services before you have time to think over your options
- Asking for Social Security Numbers before you have agreed to use their services
- Claiming that they can “fix” your credit history
- Claiming they can get government money to help you
Good people find themselves in bad situations, and some websites try to take advantage of that. Many debt consolidation companies have websites for their services, so they can help a larger number of people, which is why it is difficult to discern the legitimate companies from the scam artists.
However, good online debt consolidation services will include a free, no-obligation consultation to evaluate your situation and provide help to you. The best ones also offer credit counseling services to help you better manage your finances in the future to ensure you aren’t caught up in credit card debt again.
Debt may feel complicated, but relief is as simple as finding a nearby debt consolidation service to help you through your situation. There are many options to make servicing your debt more affordable so you can spend money on what matters most – providing for your family.
Debt consolidation is a three-part process that doesn’t harm your credit. First, the debt consolidation program will contact all of your creditors and negotiate lower interest rates and monthly payments to keep you from drowning. Second, the program will consolidate all of your debts into one single payment based on your income level so you can pay it and still pay all of your other bills. Third, you will receive credit counseling so you learn techniques for staying in the black and being smart with your money.
Negotiating with creditors is something that only credit management and debt consolidation services can do. Most creditors such as banks or card companies won’t be willing to make significant changes to your account if you call on your own and ask for a break. However, when a debt consolidation company asks on your behalf, they vouch for your reliability, and the companies are more likely to listen and change your interest rate and monthly payment requirements.
Once your Credit Guard Nevada debt consolidation has gotten manageable rates and payments for all of your debts, it will lump all of them into a single payment. This will not affect your credit rating. If a credit management company says that it will cause even a small reduction in your credit rating, it is strongly recommended that you find another one. True debt consolidation companies simply take over payment of your loans; they don’t ask you to sign up for another loan. This will improve your credit rating because you don’t have to worry about forgetting any payments
Perhaps the most important part of achieving debt relief is credit counseling. While consolidation is hopefully a one-time event, the lessons you learn in counseling can extend through your entire life. A professional credit counselor will help you learn sound financial practices like tracking your purchases, saving for emergencies or retirement, making a budget and living within your means. He or she will also provide emotional support when times get tough and guide you in developing a five-year or ten-year plan to get you out of debt for good.
Before you can do any of these three things, you need to make a decision to commit. While debt consolidation is one of the best tools out there, debt relief doesn’t happen overnight. You need to decide that you want to handle your financial situation and be willing to work consistently over the next several years to do so. The first step to getting relief from debt is accepting the need to take action.
Once you’ve made that decision, you’re half the way there! Just find a nearby debt consolidation provider and sign up today!
Do you want an easy way to earn some extra cash to pay down that pile of debt you’ve been worrying over? How about selling some of your stuff? It’s not as hard as you may think, and the payoffs can be bigger than you imagined. Just spend a little time cruising eBay, and it’s easy to see that there are a lot of people willing to hand over their cash for a lot of stuff you have hanging around your home. Don’t think you have anything worth selling? Consider this list of some of the most popular items selling right now on eBay:
- Kids’ toys. Let’s face it: You’re never going to recoup the cost of some of those expensive doodads you’ve bought for your kids. Wouldn’t it be great to get something back? Action figures, fashion dolls and accessories, and stuffed animals are all popular. Like other items, those that are rare or in the best shape earn the best prices. You might get more interest – and better prices – by selling sets of items.
- Clothing and handbags. Designer brands and sizes at either end of the spectrum are especially popular. Make sure they’re clean and consider selling multiples in one sale to increase interest.
- Jewelry. Gold and silver jewelry and items with gemstones and birthstones are popular, and so is vintage jewelry. Even that hideous pin you bought in middle school is valuable to an artist who repurposes old jewelry with new designs.
- Textbooks. Have you seen the price of college textbooks recently? It’s no wonder they sell like hotcakes on eBay, and you almost always earn more than you would by selling them back to a college bookstore.
- Collectibles and memorabilia. Sports, animation and Disney items are especially popular, but you might be surprised by the items people want to collect. Browse the site to see what similar items are selling for, and remember – even a few bucks is better than nothing.
- Think beyond the four walls. Do you have a nice garden? Keep it that way by dividing your established plants and selling your castoffs. Garden buffs at all levels of experience routinely scan eBay for tiny starter plants and even seeds, especially if they’re popular or are hard-to-find varieties.
- Buy and sell – but set limits and be choosy. If you love to shop at yard sales, keep your eyes open for items that are likely to be strong sellers on eBay. Once you’ve been selling for a while, you’ll have a better idea of which items will sell and how much they’ll bring in. Just be sure to go slowly, so you don’t acquire more debt in your quest to become debt free!
So, now you’ve got some extra cash to throw at your debt. Would you like to make it go farther? Signing up for a debt consolidation and debt management service can help you find debt relief a lot sooner by lowering your interest rates and other fees. Debt counselors will also establish a repayment program that relies on a single, convenient monthly payment, making it easier to pay your debt and focus on the money-earning strategies that can get you debt free a lot faster than you ever thought possible.
Every day that you carry credit card debt and personal loan debt, you probably feel like you’re paying a penalty for past spending decisions. Although it was fun spending that money, now you probably can’t remember most of the items you bought, and all you’re left with is the sometimes hopeless feeling of a seemingly never-ending pile of bills.
Paying back debt requires a huge and prolonged commitment – sometimes decades of making a big payment every month. Not only can that have a major effect on your ability to enjoy your life, but carrying debt for that length of time can take a significant bite out of your ability to save for retirement. That means the debt you’re carrying right now could end up affecting you for the rest of your life.
Fortunately, there are things you can do right now to get rid of your debt and make some solid strides toward saving for your future. But, if you’re like most men and women saddled with large debts, you’ll get much better – and faster – results with a little help and guidance. The place to find that support and guidance: Debt consolidation programs.
Debt consolidation helps you out in a couple of ways: First, these programs employ debt counselors who are trained in working with creditors, and that means they know the steps to take to help get your interest rates reduced and your monthly payments lowered. Debt consolidation programs have a strong and favorable reputation within the lending industry. The positive relationship that exists between debt consolidation programs and lenders works in your favor because it means they can negotiate for terms that are favorable to you while also assuring lenders of your earnest willingness to repay the debt you owe. Debt consolidation counselors look at your financial picture – your debts, other outstanding obligations like rent or mortgage payments, and your income – to help establish a repayment program that you can actually work with so that, before you know it, you can actually see some meaningful progress in your quest to shed your debt.
The second major way that debt consolidation aids you in repaying your debt is by offering credit management tools and guidance. That means you can get help developing and maintaining healthy credit and financial habits in order to keep from taking on more debt and remain on track towards becoming debt free.
Paying off your debt the way it is now, without any reduction in interest rates, means you could end up paying thousands – even tens of thousands – of dollars in interest rates alone for many years to come, and that’s money that you could be saving toward your retirement. Especially since stocks and other investments have taken a dive in recent years, having a solid retirement savings plan in place is critical to ensuring your later years are comfortable.
Of course, eliminating debt does a lot more than free up money for retirement savings; it also helps you eliminate stress and start living a more relaxed and enjoyable life – and if you’re like most people, that’s probably worth more than all of your debt combined.
For a lot of people, the hardest step to debt relief is accepting that they need help. Many of us believe or were taught that debts are a burden that we shoulder alone. The thought that we need to be alone with our debts is not optimal debt relief thinking. It’s not others’ responsibility to pay off your debts, but not seeking some sort of help is an irresponsible act. With how massive today’s debt industry is and how lackluster the economy is, it is no wonder that there are more and more debt relief services.
When you are looking for help it is important to consider exactly what kind of help you need. There are debt solutions that involve manipulating what debt you have, and then there are debts solutions that help you structure your financial life and get it into working order.
The latter solution is a more thorough strategy at paying off your debt. These forms of debt solutions come in the form of consumer credit counseling. These counselors act as personal one-on-one debt coaches that can help you get yourself out of debt. These counselors are knowledgeable in the world of debt and debt solutions, and they know the strategy that will pay off your debts quickest.
With a counselor on your side that debt hole that you dug no longer seems as dark and deep as it seemed while you were on your own. They will teach you how to budget out your life, and determines what assets you have that can be used to help you. They know how to trim fat off of a budget and find other methods to better utilize the money that you make. If appropriate, they’ll recommend a program like debt consolidation to help you get the situation under control.
Consumer credit counseling from Credit Guard helps thousands of people each year to become financially independent. The power of a budget is often underutilized, and every person, organization, and household can greatly benefit from budgeting out their finances.
Many people who look at their credit card debt with worry wonder whether or not cancellation is a viable option. Deciding on whether or not it’s best to cancel a credit card is a difficult choice to make for some. There are some things a person must consider before making the decision to cancel a credit card.
Does Canceling a Credit Card Affect One’s Credit Score?
FICO recently confirmed that canceling a credit card would have little impact on the overall credit score. Only a portion of the credit score will likely be affected by this move. The credit utilization portion of the score could suffer, because canceling the card lowers the amount of available credit. This makes the credit utilization portion of the score appear as though there is far too much available credit being used; the imbalance lowers that portion of the score.
Considerations before Canceling the Credit Card
A person must really consider the impact of canceling a credit card on a credit score. Before making the decision to cancel a credit card, a person should think about whether or not there are any plans for major purchases coming in the future that could require financing. One may also consider keeping the credit card and making minor purchases on it occasionally, paying it off in its entirety each month to boost the credit score. Before moving forward with the cancellation decision, one should also try to make sure that there is a zero balance for any other active credits cards.
If Deciding to Cancel a Credit Card …
Ideally, the person should make an attempt to pay off credit card debt completely before canceling it. Following up to confirm that the card is canceled is strongly recommended. Additionally, saving any paperwork pertaining to the cancellation is also strongly encouraged.
One can also consolidate credit card debt if canceling the card isn’t ideal. Entering a debt consolidation program before it starts to take its toll on the person’s credit score is advised if the one is unable to pay off the card before canceling the credit card altogether. One can consolidate credit card debt conveniently into a repayment program and pay off all of the debt over time. A consolidation counselor can give advice on whether or not to cancel a credit card account. The added flexibility in a consolidation program eases the burden for the person struggling to resolve all credit card, medical and other debt.
Debt consolidation services are a vital support to people who take out a loan or make charges to multiple credits cards. It is an essential business as so many people have trouble dealing with multiple debts and loans. A consolidation program is a thorough debt relief program. It includes both consolidation services and comprehensive financial counseling and education.
Consolidators bring a multi-tiered program to your situation to aggressively help you pay off your debts. The first step in this process is a debt consolidation. This step focuses on rounding up all of your errant credit lines and unsecured loans and paying them down with a single monthly lump sum. This step is very important to solving your debt, because it helps take the uncertainty out of having multiple payments that are due monthly.
The next step consists of talking not only to you, but to your creditors as well. What this can do for you, if you are truly struggling, is find a better payment plan than the one you are currently on. Your creditors want you to pay on time in full. The fees and penalties are there to try to help you stay on the payment plan, but they aren’t trying to make it harder for you to pay. The point being that if you are making active efforts to pay your dues, then a creditor is much more likely to work with you or a consolidator like Credit Guard on finding a more suitable payment strategy. A creditor may also reduce your interest or fees, depending on the circumstances.
Lastly, many debt consolidation services have credit counselors on their staff to help you start to help yourself. These credit advisers are highly trained at helping you figure out your budget. They know the skills that are effective at maximizing your income and minimizing your expenditures. With a focus on paying on debt, many people finish their consolidated debts much quickly than they first thought.