Debt is more common today than ever before. The economy and the job market has not been kind to people. And in years prior, many of us were used to charging things. Credit was abundant and was not difficult to acquire, so many of us used it freely and now some of us are paying for it. But it is not the end of the world and as long as you are willing to do what is necessary, you will be financially stable again.If you are looking for help with...more
It is all too easy to be swallowed up by credit card debt and an ever increasing number of people find themselves in just this situation. If you are one of these people, take some consolation in the truth that you are not alone, you are not the first and you certainly will not be the last. That being said, the fact of the matter is that when you are facing what seems like unsurmountable credit card debt you feel alone and worried. It may seem...more
Quite simply, the use of credit cards to consolidate your credit card debt is not as effective as debt reduction. There are many credit card companies that offer low interest balance transfer deals designed to entice an individual to transfer their high interest credit card debt: However, once these offer periods are over the interest rate reverts to a much higher rate that often leads you into deeper trouble. It's common knowledge that credit cards are the main reason for forcing debtors to begin looking for consolidation solutions that will reduce their burden. Debt reduction, by definition, is the process of the reduction of the amount of debt and therefore monthly bills and not to add to, or maintain the level of debt by using another source to pay it off. Therefore, you should not even consider the use of credit cards to consolidate and instead you must find an alternative.If you have a mortgage, auto loan, personal loans and high credit card balances and they add up to $1400 in repayments each and every month and you need to reduce your outgoings dramatically you may well ask if this is possible. In a word, yes; but are there lenders that will offer a loan in order to combine...more
Stories abound about credit card consolidation loans that end up leaving the recipient in a worse situation than they were prior to taking out the loan. The fact is if you have done your homework and practiced due diligence then there is nothing to be worried about as credit card consolidation and loans in particular can be a financial...more
You may well have heard in the past several people saying that credit card debt consolidation is the best thing since sliced bread when referring to how it has helped them get out of debt. However, you would be mistaken if you think it is just a case of calling a consolidation company, getting papers signed and voila, no more debt ! There are other...more
The use of debt consolidation is essential if you are wanting to avoid paying huge amounts of interest that will subsequently cause a great deal of anxiety when the day arrives that you are unable to make payments.Debt consolidation can be used as a solution to excessive credit card debt as well as other types of personal debt such as loans and offer relief to individuals. There are few worse feelings than being overwhelmed by debt as it overspills to affect every aspect of your life and decision making. Debt consolidation organizations will always inform people that they should at least pay the minimum requirement on their debt, but by doing so it could take forever to repay your debts as the vast majority of those payments will only cover the accrued interest. However, although this is true the argument is that making an effort to continue repaying your debt reflects better on you showing that you at least have the willingness to repay your debt. It is debatable that the use of debt consolidation companies to manage your debt can have a negative affect on your credit score in comparison to negotiating better terms with your creditors yourself. It is argued that by using a third...more
If you, like so many others, are finding that the pressure caused by increasing credit card debt is pushing you towards considering filing for bankruptcy it is probably time for you to start thinking about the damage such a move would cause you....more
Credit cards, some would say, have created a massive debt issue, leading to an increase in the number of people using credit card consolidation and various other forms of debt management. The introduction of the credit card has, without question,...more
If you are considering credit card consolidation as an alternative to your increasing credit card debt you may have asked either of the following common questions:How do credit card consolidation loans work?Consolidation loans work by paying off all...more
Once you have bad credit it can seem like every day is a battle fending off creditors but this is when using debt consolidation can help get you back on track. Bad credit and debt consolidation go hand in hand; and if you are in debt, as most of us...more
When looking into the impact of debt consolidation on personal credit reports during and after the plan, the best way to answer this question being it varies between each individual’s financial situations is to understand fully what a...more
Given that, future is all the time unpredictable. You by no means make out at what time you would have need of money at some point for any urgent situation that might have need of spending of money. You are supposed to be equipped to...more