Archive for the ‘consolidate debt’ Category
April 13th, 2010 | 
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http://www.DebtReliefVideos.com This free video series focuses on credit card debt relief using Credit Counseling, Credit Consolidation, or Debt Settlement to achieve debt reduction, consolidate debt, and avoid bankruptcy.
http://www.DebtReliefVideos.com helps people who are struggling to pay off credit card debt, medical bills, or other unsecured debt, and are wondering if debt settlement can help them avoid bankruptcy. Many people are seeking reliable information about their debt relief options from a reputable, trusted, debt reduction expert with real experience.
http://www.DebtReliefVideos.com offers a free 10 video Credit Card Debt Relief series by Sonia Hawkins, a Certified Debt Specialist, who answers her clients’ most frequently asked questions. Since 2006 Sonia has helped over 1,000 clients with over $30 million in total debt. She especially looks forward to seeing YOU on the road to being debt free!
Sonia will personally answer your call and your questions at (800) 864-4120.
Duration : 0:2:24
Posted in consolidate debt | 
Tags: avoid bankruptcy, bankruptcy, bankruptcy attorney, bankruptcy filing, card, consolidate, consolidate debt, consolidation, consumer credit counseling, counseling, credit, credit card consolidation, Credit Card Debt, credit card debt consolidation, credit card debt relief, credit card settlement, credit consolidation, credit counseling, debt, debt counseling, Debt Relief, Debt Settlement, debt-reduction, debts, reduction, settlement, tasc, tasc certified, unsecured debt | 
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I have great credit, but a little to much debt. I would like to consolidate my debt without hurting my credit to bad. I would like to be able to pay less than what I am paying now. Paying for many years does not bother me, some of us can only make it with payments on everything (that’s me, the world is to hard and expensive today). Does anyone know a good place to go with?
DO NOT FALL FOR HOME EQUITY SCAMS unless you want to lose your home or end up in bankruptcy..
If you have "excellant" credit, get another credit card. They usually come with balance transfer offers that are free, with 0 or low interest rates for 6 months. Transfer the balance for higher interest credit cards there. Additionally, as long as you have good credit, most cards have offers of lower interest for balance transfers – look for the "until paid" low interest rates – usually 3.99 to 4.99 percent – but make certain it stays at that rate and doesn’t change.
The secret to doing all this, though, is to quit spending on credit until you pay off your existing debt – this means boing frugal. There is no sense in transferring your existing high interest credit to something lower if you’re just going to run up more high interest credit!!!
Also, your statement "Paying for many years does not bother me" is frightening though, as it means you do not understand anything about money.
The best way is to PAY OFF your debt and DON’T refinance the house. Why would you put your house on the line for what is currently unsecured debt?
What the title says. I want to consolidate less than $10k in debt but my credit isn’t so hot. I can’t pay all these different companies anymore and need some help. Does anybody know some legit non-scam companies I can apply to? Thanks.
What keeps most people in debt is the fact that they keep spending more money than they make. They look at the "monthly payments" instead of the total debt loan that they are carrying. People need to stop spending now and concentrate on becoming debt free. Please do not consolidate or use a debt reduction company . It is not free, they will lower your payments by increasing the length of time until you are debt free, and you will take a hit on your credit score. Or they negotiate your debt down after telling you not to pay for awhile adding another hit to your credit score. Student loans are the only debt that can garnish your wages for non payment without taking you to court first. Just list them out on a piece of paper or a spreadsheet and follow the plan. If you work the plan, the plan will work for you.
A. Have a garage sale and sell anything that you no longer need or want.
B.Get a temporary part time job, if you have one, get another.
Here is a plan that can help you. If you work the plan, the plan will work for you:
1. Make a budget. Make the budget a week before you get paid. A budget is not a punishment! It is a tool which will free you from ever having to worry about money again. Put everything in your budget. Especially those annual, biannual, or quarterly bills like car registration, insurance, etc. Give every dollar you are going to bring home the name of where it is going. Add an "emergency fund" category to your budget for 25 dollars and save up until you have 1000-1250 dollars. Your emergency fund will help keep you from getting into new debt because of an emergency. If you can, set up a direct transfer to a savings account for your emergency fund. That way it moves automatically and you don’t even have to worry about it. You must cut your spending and live on less than you make.
2.First get current on all of you debts and make no more late payments. Stop using your credit cards immediately. Do not take on any more debt. Credit cards are like quicksand only the death is much slower. Make a list of all of your debts in order of highest interest rate to lowest interest. Use cash only for your spending from now on.
3.Pay the minimum due on all of your debts and then put your extra money towards paying off the highest interest one first. After you get that one paid off, you put the money you were paying on debt #1 (the minimum payment and the extra payment) towards debt #2. That will pay debt #2 off faster. When that is paid off, you put all three payments towards card #3 and that one will be paid off pretty quickly. As an example:
To start :
Debt #1 (highest interest): minimum payment+ extra payment
Debt #2 (middle interest): minimum payment
Debt #3(lowest interest): minimum payment
Debt #1: paid off
Debt #2: minimum payment from Debt #1+ Minimum payment from Debt #2 +extra payment
Debt #3: minimum payment
Debt #1: paid off
Debt #2: paid off
Debt #3:Minimum payment from card #1+ minimum payment from Debt #2+ minimum payment from Debt #3+ extra payment.
That way, you will get them all paid off, on time, and pay the least interest. It will also help towards rebuilding your credit since you will no longer have any late payments. This works no matter how many different debts you may have.
4. After you get all of your debts paid off, add to your emergency fund until you have 6-12 months of income saved up. Put that emergency fund money into a liquid money market fund or into a Bank of America no-risk CD so that if you need the money you can take it out without penalty.
5a. When you have your emergency fund in place, add a category for "fun" to your budget. Save for a holiday, a vacation, a big screen, or dinners out, whatever goal you want. Remember to enjoy your life.
5b. When you have your emergency fund in place, start saving for your retirement. Join the 401(k) plan at work and contribute the maximum. Your employer probably matches at least part of your contribution so why give up free money? Open a Roth IRA and contribute the maximum on a monthly basis. If you start saving for your retirement now, you will probably retire a millionaire.
5c. When you have your emergency fund in place, start saving for your next car. Only buy cars, or other things that depreciate, with cash. Save up for a nicer car. That way you get the interest instead of paying the interest.
You can do it and it isn’t as hard as you think. Just follow the plan
Bankruptcy’s stay on your credit for up to 10 years. A debt consolidation loan is just more credit, and stays on your history up to 7 years since closing.
Stay away from consumer credit consoling services. They also stay on your record for the 10 years but look worse than a bankruptcy.
Ex: Bankruptcy means you fell on hard times and had to take drastic measures to get back on your feat.
Credit Counseling usually shows you were unable to handle your own finances and had you had someone just show you how, you would have been alright.
Both of those are just my assumptions from talking with many different credit companies.
http://freeloansfast.wordpress.com/2010/04/06/government-grants-can-help-you-consolidate-debt/
If you have found yourself in a situation were you are having trouble paying your monthly credit card bills then you should look into the many options that are available to you so that you can consolidate your debt. A Government Grant can be a great way to get help with eliminating your debt so that you do not have to have the added stress of credit card bills. It is hard now for many people to keep up with the increasing price of food and gas so many of us have used our credit cards to purchase those things that we need. The major issue with using your credit card to purchase items we can not really afford is that when it comes time to pay those credit cards we find that our incomes have not increased at the same rate as the things we are purchasing have and it makes it hard to pay those credit card bills. Getting a Government Grant to pay off those bills can be a great option for you because every year there is grant money that is available that goes unused. You need to know were and how to apply for this money because it is important to get out of debt and get your finances in order. When searching for a Government Grant keep in mind that they are looking for someone who is in need of the money. If you have got in a situation were this is your only option to get out of the debt then you stand a great chance of qualifying for the grant money. Remember that you want to get rid of your credit card debt and finding a Government Grant to help you do so can be a great option for you.
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Duration : 0:2:29
Posted in consolidate debt |
Tags: Can, consolidate, debt, government, grants, Help, you |
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Just had a major surgery and racked up some major credit card debt while being out of work. Just looking to see where I could start now that I am going back to work.
If you are able, take out a home equity loan. Pay off the credit card bills with the proceeds. Then pay off the home equity loan as quickly as possible. This is a win-win situation. You get the credit card bills paid off, plus the interest on the home equity loan is a tax deduction.
Or, you could line up the credit card bills by 1)interest rate, 2)highest amount owed to lowest amount owed, or 3)lowest amount owed to highest amount owed. Whatever way you line them up, start paying them off.
I preferred the lowest amount owed to the highest amount owed. I paid the most money to the lowest balance, then paid the remaining bills just above the minimum required. As the lowest bill was paid off, I then applied that same amount plus the minimum to the next highest bill. As that bill was paid off, I then applied that amount plus the minimum to the next bill, etc.
Now Susie Orman would disagree with this method, but I found great satisfaction in seeing the bills disappear more quickly than if I had paid off the highest interest rate bill (regardless of balance) or the highest balance bill first. Plus, I think when you have big bills hanging over your head, you need to see progress as quickly as possible. It really gives you a boost to see those bills drop off the face of the earth.
Good luck!
http://www.canadadebtconsolidationnow.com/ visit this site for consolidate credit card debt
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My husband and I have had a rough time financially in the past year. I am a stay at home mom and my husband makes good money except that he was laid off for most of the last winter and we are having a really hard time catching up and now our credit is not so great because we’ve been late with so many payments. I tried to get a job too to help but ended up paying more for daycare than I was making. Wondering if anyone knows of a good company to call to help us out with refinance/consolidation. We live in wisconsin. Thanks!
Opt for a debt consolidation loan: The easiest method of getting a debt consolidation loan is to utilize the equity of your home. Equity of your home is calculated and determined by the difference in the amount you have paid and the amount you owe. If the amount you have paid is more than the amount due, you can use it as collateral. This allows you to borrow money on lower interest rates. Besides, you also get tax benefit on this type of loan. Consult your tax advisor before opting for this loan. Hence research the lenders thoroughly before applying. Tell the lender how much you can pay and till when you can pay. They can find out a right plan for you.
i thought about paying off a big credit card and then paying my other ones in full of of that is this smart?
Save yourself the money on buying total money makeover. Here’s the same strategy that Dave Ramsey, Richard Kiyosaki and most debt counciling people recommend. Ramsey, just happened to write a book about it and is getting rich from it. It’s typically referred to as a "debt snowball", becuase the payments snowball on each other and keep getting bigger and bigger, but your cashflow doesn’t change. Same strategies been promoted for decades by professionals.
#1 figure out your budget and where your money is going.
#2 Take a look where you are spending you money and try to shave off costs. Downgrading to regular coffee rather than $4 latte’s, etc. One prime example with debts is to look at the optional insurances. You are far better off to have an individual term policy than all the little creditor insurance policies. Term is cheaper and it’s a far superior product (Just google search "Term insurance vs. Creditor insurance" and you’ll get hundreds of links that support this).
#3 Once you’re freed up your cashflow, take inventory of your debts. If possible look into a debt consolidation loan, which will lower your interest rates to help you pay it off faster. If you do a consolidation loan, no matter what they say your payments will be, make sure you are making the same monthly payments that you were making prior to the loan, plus whatever other money you have freed up in your budgeting excerise. If you just go with the minimum payments they offer, you’ll end up taking longer and paying more in the long run.
#4 If you aren’t able to get a consolidation loan, continue making the minimum payments on all the debts, but on the smallest debt (which is ussually a credit card with the highest interest rate…if you have multiple debts that are fairly close to the same balance, start with the highest interest rate), put all the extra money you freed up from your budgeting excerise on it.
Example:
Let’s say these are your debts:
Credit Card A: $500 – Monthly payment: $50
Credit Card B: $1600 – Monthly payment: $100
Personal Loan: $8000 – Monthly payment $300
Mortgage: $40,000 – Monthly payment $450
Start with credit card A. IF you freed up $100 in your budget add that to your current payment, so the total payment on that one is now $150. all other debts are the same payments as before.
After Credit Card A is paid off, take that entire payment of $150 (freed up cashflow + payment) and add that do Credit Card B (the nest lowest balance), so now Credit Card B’s payments are $250 ($100 of freed up cashflow + $50 from C.C. A’s monthly payment + $100 of C.C.B.’s monthly payment). Continue doing this until all your debts are paid off.
Once your debts are paid off, since you’ve been used to having the same payments for XX number of years, transfer the total amount you were paying on a monthly basis into some sort of savings or investment account and you’re off the races. In the example above that means you would have $1000 a month going into an investment account EVERY month!
The biggest key is to make sure that you are keeping your monthly payments as high as possible to pay down the principal faster. Even as you pay off one debt, just transfer that payment to the next debt.