Author: Kris BickellA debt snowball plan represents a new way of thinking about debts and how they should be paid off. If you're making minimum payments on a number of debts and putting extra towards your balances when you can, but still feel like you aren't getting anywhere, a debt snowball plan may be right for you. The primary benefit of this debt repayment strategy is that it allows individuals to see real progress as debts disappear, which...more
There are a lot of people that are having difficulties financially due to the terrible state of the economy. This can explain why there are so many more people looking at debt consolidation as an option for the financial issues that they have to deal with. Here we will look more at debt consolidation and how it works.One of the first things that a person should do if they are thinking about resolving some of the money problems that they have is...more
That dreaded "B" word bankruptcy. If its your worst financial nightmare, you're not alone. Few things have as negative of an impact on your credit score than a declaration of bankruptcy, making options like debt settlement, debt consolidation, and credit counseling attractive alternatives for people in financial straits. But these options each pose certain risks, all of which must be weighed before taking an action that could remain on your credit record for the next decade.Consumer Credit CounselingWhat is consumer credit counseling, and how do these types of services differ from declaring bankruptcy? There are many different forms of credit counseling and each of them works a little differently.Debt Settlement allows you to negotiate the repayment of a portion of the money owed, after which the debt will be considered paid in full. Debt settlement firms can negotiate with credit card companies and other lenders to pay back less than the full amount of your debt, or to pay it back more slowly.Debt Consolidation is the process of combining all of your debts into one loan, arranged through a bank or a consumer credit counseling service. Debt consolidation makes it possible to lump...more
Author: Hector MillaWhen you are faced with making serious financial decisions, you need to understand the differences between your options and take the time to understand which option is best for you. Even at your darkest financial moment you still have many options, and when things seem at their worst you still have options that may help to pull...more
Author: Hector MillaWith more and more people heading into debt in the current economy, questions are popping up about possible solutions to big debt issues. Some people are getting in over their heads and they have no idea what to do in order to dig themselves out. Other people are smart about their debt problems, and they take action before...more
Author: Hector MillaThere are plenty of debt consolidation companies that consider themselves to be nonprofit. However, this is nonprofit in name, rather than nonprofit in spirit. Most of these companies are either scams or fronts for a for-profit company that gives out the loans. Aurora Lillo Editor of the "Best Debt Consolidation Services" website -- http://www.FreeDebtConsolidationQuotes.net -- pointed out; “…Therefore, in most cases, it is far better to try out a traditional debt consolidation company rather than a company that claims that they are "non-profit."…” The only exception to this is that occasionally, there are some community-oriented or religious organizations that offer financial or debt consolidation assistance. If they are part of your community, it is far easier to judge whether they are scams or real, so in such a situation, you should probably just go with your gut about whether or not you can trust them. Otherwise, though, you should definitely trust someone who claims to be non-profit unless you know someone with personal experience with the company or you have definite facts that it is not a scam. Before you decide to consolidate, remember, you...more
Author: Hector MillaYour monthly finances are one of the top priorities in your life. When you are trying to take care of your family and get the things done you need to get done every month, you look to your finances to map out how you will proceed...more
Author: Hector MillaYes there is! The government, in fact, has many different programs that can help you to consolidate your debt. Most of these are made with student loans in mind, for those who recently came out of college, but there are many for...more
Author: Hector MillaWhen people are looking for help with their financial situation they always have a lot of questions. One of the things that people always want to be sure of is whether or not the financial institution they are doing business with...more
Author: Hector MillaDebt consolidation loans have become one of the most common resources for people trying to rid themselves of debt. These loans take all acquired debt and combine them into one amount, allowing individuals to make just one monthly...more
Author: Hector MillaFor the first few years of the 21st century, credit card companies were giving out credit accounts like they were going out of style. It did not take long before many Americans realized that their high interest credit card debt...more
Author: Hector MillaThere was a time when a person had just a limited number of debts. They would be debts of honor, incurred upon the gambling tables and these would be covered with an IOU, to be cleared within the week, or when the next quarterly...more