Archive | Debt

How To Clear Your Debt In Under One Year



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If you’ve been struggling with debt over the last few months, you’ve come to the right place. While we’re not professional debt advisers, we know a lot about the industry. That means we’re in the perfect position to offer you some sound advice. You would have to pay for information like this when using a professional service, so thank your lucky stars that you found this post today. Over the next few paragraphs, we’re going to present you with some ideas that could help to get you out of debt within the next twelve months. Sure, some of them might seem a bit risky, but they could work well if you take the right approach.

With all that in mind, we ask that you give us your full attention. You can even take notes or print this article if you feel that is necessary. Nobody likes receiving letters with bold red writing through the post, and nobody wants to answer the door to debt collectors. So, read out suggestions now and take heed!

Apply for debt consolidation

Debt consolidation is a means of clumping all your credit together into one affordable monthly payment. The level of that payment is partly down to you. Whichever company you use, they will look at your finances and suggest a payment quantity. If you would like to increase the amount you pay to ensure your debts are cleared in under one year, you just have to let the specialist know. Make sure you don’t agree to anything you can’t afford though as you could end up in more trouble than you’re in at the moment.

Start investing the money you have

While some investments can be a little like gambling, you could make a lot of money if you choose safe solutions where the odds are tipped in your favor. The stock market, for instance, is a brilliant place to make a huge profit. You don’t even need to understand how it works thanks to specialist companies like those mentioned on The Brokerage Review and similar websites. Just make sure you research any brokerage firm you consider using and read reviews from previous clients. Contrary to popular belief, they’re not all like you’ve seen in The Wolf of Wall Street.

Downsize your home

Owning a five-bedroom home might have been a good idea when you’re children were small. However, it could be sensible for you to downsize now they’ve grown and flown the nest. Downsizing your home could result if you having a huge lump sum hit the bank. That money could be used to pay off any creditors you have in a matter of days. We are certain you will feel a weight lifted from your shoulders once that has been done.

Thanks for stopping by today and reading this article. We hope you are now in a better position to settle your debts and move on with your lives. Whatever happens, try not to get too stressed over the situation. It’s only money at the end of the day.

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Debt Settlement Using Federal Stimulus Money

A few years back, every individual who was encountering some kind of financial trouble would never have thought of benefitting from a recession and tried to get their loan balances reduced. Such a thought would definitely be considered ridiculous, especially because a recession usually signifies an unstable economy, with people losing their homes and jobs, some taking pay cuts, and even businesses closing down or facing bankruptcy.

Nobody would have thought that such an economic condition can help eliminate debts. However, there may be certain groups of people who would have thought about grabbing the opportunity and hence, negotiated about debt settlements with their personal loans for bad credit lenders. Some of them have even ended up being successful in their negotiations.

Several debt relief programs are now made available to the citizens and legal residents of the United States, as the government is offering generous debt relief opportunities to borrowers who possess a dent of a minimum of $10,000. The government has been issuing billions of dollars as stimulus money as debt relief to the country’s large financial institutions, as a way of bringing back the economy from its financial payday loans no credit check crises. There are also several debt settlement companies that offer their services to those consumers who have at least $10,000 in debt.

As a result, a consumer will be able to eliminate about 60 percent of his or her overall unsecured debt when they take the necessary steps to identify a legitimate debt settlement company and obtain its guidance. Therefore, if you happen to possess a debt that goes beyond $10,000, then the wisest decision would be to talk to a representative of a debt settlement company who can possibly improve your chances of obtaining a good settlement by negotiating with your creditors.

A debt settlement company can help you eliminate an average of about 60% of your current debt balance, as mentioned earlier. You will be able to negotiate and settle almost all types of debts, of course, except for student loans. Usually, student loans get settled very rarely and in most cases, you will be required to pay back a student loan in full.

The easiest type of debt to get settled is your credit card debt and if the debt settlement company you choose is a successful one, then it can get at least 50 percent of your credit card debt settled easily. However, it is important for you to remember that not all debt settlement companies are legitimate and keep their promises. Hence, it is extremely crucial that you know exactly from where to choose the best reputable, legitimate, and experienced debt settlement company.

To find the best company, first remember not to contact one directly. Instead, you may first contact a debt relief network that would have associations with different legal debt settlement companies. This would be of help to you because in order to be a part of a debt relief network, a debt settlement company must possess a proven record for success in the negotiation and elimination of several different types of debts. They will also be required to pass different tests, and hence you can be sure that the company you choose is a successful one.

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Guide to Debt Consolidation

Are you caught up with overwhelming debts that you can no longer afford even your monthly utility bills? Wish you could regain control over your financial situation? In such a situation, debt consolidation might serve you best. This article provides you with some tips that can help you get back on your feet pretty soon by applying for debt consolidation. Debt consolidation is a tool that can unburden you from hefty debts, enable you to obtain complete financial freedom, and lighten up your future plans.

Getting Out of Trouble

Debt consolidation is basically a way to get rid of or eliminate all your existing debts by combining them into a single debt. This single, new debt usually carries a low rate of interest when compared to that of all the debts individually. Consolidating your debts helps in a way that you will no longer have to make different monthly payments to different loans for people with bad credit  lenders; instead, all you need to do is take out a new loan that will have you pay back only one debt with low interest rate, making your loan payments easier and more affordable.

Steps to Easy Debt Consolidation

Step 1: Determine your load of debt

In this step, you will have to determine which of your debts are good. For instance, if you possess a mortgage loan that accounts to less that 25 percent of your earnings, then you can consider it as a good debt. Then, you should calculate the overall amount of money you owe as debts to creditors and family, the debt that carries the highest interest rate, and the total amount you pay as interest for the debts.

Step 2: Frame a budget

You should determine the amount of money you really need for paying your utility bills, savings, entertainment, and to make your debt payments. This will help you identify those expenses that are not really a need and hence to cut them out.

Step 3: Take out a consolidation loan

In order to take out a debt consolidation loan, first meet up with a financial advisor who represents any bank of your choice. In most cases, the bank in which you hold a savings account or the one that has issued you a loan previously will offer you the best rates. Remember to be accurate with the documentation you submit for taking out the unsecured personal loans. Some of the most common documents you would be expected to produce include a proof of your income, last three months’ bank statements, letters from repayment agencies or creditors, etc.

Step 4: Pay your debt off

The order of debts that get paid off will usually be decided by your lender. If you are offered the opportunity to choose this, then you should choose to first pay off the debt that carries the highest interest rate.

Step 5: String along with the plan

Debt consolidation will end up successful only if you do not go back to overspending once you pay off your debts. When you have paid off a particular set of your debts, immediately move on to paying off the next, if any. When you become debt free, start saving or investing money.


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The Top Four Debt Repayment Strategies

Debt Snowball

The beginning of a debt repayment plan is hailed as the most difficult. It is at this point that credit seems at its most overwhelming. Denial is a feature that leaves debtors with an underlying sense of dread that hasn’t been acknowledged on a conscious level. This leaves you unable to create a solid plan to resolve the problem, which creates the false impression that the issue is unsolvable. For this reason, all debt repayment plans should begin with a conscious weighing up of the principle amount. Facing up to the entire figure, whether through comprehensive digital tools or simply by pen and paper is the only way to eradicate denial and create a solid idea of how to approach repayment best. Creating a savings pocket that consists of at least 10% of your income is another initial step that is advised by most financial advisors because it prevents you from burying yourself in additional debt the moment emergency strikes. Once those two steps have been taken, there are a number of repayment strategies to choose from.

-1) The Snowball Strate

This is among the most advised tactics because it works on an emotional level to motivate debtors to continue working on their debt long term. It involves paying off the smallest debts first so that a higher number of debts can be eradicated as quickly as possible. This technique doesn’t necessarily offer the lowest total amount of interest, but for those who feel overwhelmed and helpless about their financial situation, it can lead to the best outcome.

-2) The Snowflake Tactic

Similar to the snowball approach, this method uses a priority list based on the smallest debts, as described by Time. However, instead of paying off debt once a month, several monthly payments are encouraged. Money saved or found during the month is automatically and immediately assigned to debt repayment. By paying off small amounts between salaries, you are continuously rewarded with results and better able to control your budget. This tactic also gives creditors an indication that you are working in a goal oriented way to eliminate your debt.

-3) The High Interest Approach

This approach is among the most financially sound of all strategies. Debts with high interest rates are paid off first so that the ultimate principle repayment is minimized. Debts will be paid off faster as long as motivation is not reliant on frequent successes. The process is made easier by consolidating debt and placing only minimum payments on low interest accounts. Instead, the latter amount can be placed in a high interest savings account to increase repayments on high interest debts. Debt counseling services can be used to strategize improved terms and fees.

-4) The Pragmatic Approach

The simplest and most practical way to eliminate debt is by minimizing expenses and maximizing income so that larger repayments can be made on a monthly basis. This becomes easier to achieve when every facet of your income is directly assigned to a particular payment. This is the harshest tactic, since it entails a new standard of living that may include taking on a part time job. For those who already have challenging work schedules and rudimentary budgets, a more comprehensive strategy is needed.

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Escape Debt Without Borrowing More From Banks

Escape Debt

Escape Debt

One of the many great problems with being in debt is that it’s hard to figure out where you’re going to receive the money to pay back the debt, without borrowing more money, thereby increasing the amount by which you’re in debt. It’s a problem that sees many borrowing to pay back the money that they borrowed off another entity. However, there are ways to pay back debt without borrowing. In fact, borrowing is the last thing you should be thinking of doing. Here are a few tips on escaping debt without borrowing or taking out more loans.

Work Harder & More (if possible)

The first and foremost rule to making money is to work harder than you currently are in order to earn more money. A human being can always do more, and it is with this belief that you should approach your job.

While you may be in an occupation where pay isn’t results based, you must realize that by working harder you make yourself more invaluable to your employers and therefore put yourself in a better position to get promoted. Furthermore, those who have their own businesses will know that the more effort – creative and physical – they put into their business the more results that will arise.

Taking on a second job should also be considered, providing that you do not have other responsibilities such as your family that needs your time instead.

Those who are unemployed must also work harder –  at trying to find a job.

Sell Unused Stuff

Selling your stuff is a great way to make a bit of extra money, and you’ll be surprised by the amount of things you probably have lying around your house that can be sold for a lot more than you’d think.

Exercising equipment for example, is something that there is a massive second hand market for, and so if you do not use your treadmill or weights, you should consider selling them for a handsome price. Exercising equipment can often go for over a hundred pounds in fact.

Old computer game consoles and games that you no longer play should also be considered. Generally, if you have time to play computer, then you have time to find more work by which you can pay back your debts, and so if you’re in debt, you shouldn’t need a games console for the time being.

Explore Tax Refunds

If you’re a business owner or a construction worker, there is a strong chance that you might be owed money in the form of tax refunds. This is especially so, if you’ve made construction adjustments to a shop you own in the past year.

There are several companies online such as RIFT at that can work out if you’re owed anything in the form of tax refunds and how much you are owed.

Say No To Payday Loans

While you may need to eventually borrow as a last ditch attempt to pay back your debts, you must never opt for payday loans – no matter what your circumstances are.

Payday loans come with extremely large interest rates – some of up to 2000% in practice – and you’ll therefore most likely end up in a whole lot more debt.

Escape Debt Without Borrowing More From Banks

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Making a diet for your finances



Now that we’re seven weeks into the New Year, you should know whether those resolutions you set yourself at end of 2012 are going to be met or not.

Most of us made ourselves a few promises as last year came to a close, but even with the best will in the world there’s the chance that the wheels may have started to come off the months progress.

For many, New Year’s resolutions centred around losing weight and dieting, but you’ve found that simply cannot resist having a piece of cake or that extra slice of pizza then maybe you should consider a simple more manageable diet – one for your finances.

During these times of economic uncertainty, shedding a few outgoings makes perfect sense. After all, why pay for things that you don’t need to. Promising to seek debt advice if things start to get worrying should also have been on your list.

The difficult part of drawing up a diet for your finances is deciding what a necessity is and what is excess fat.

Indeed, for some having satellite television with a gazillion different channels is a must have, while for others it is something that they pay for but never watch. On-demand TV is growing in popularity, with services like BBC iPlayer, 4OD and ITV Player making it easier than ever for people to watch exactly what they want, when they want.

In fact, some of the excess debits on your bank statements may well be things you signed up for and forget about. While this probably isn’t the case with your television subscription package, it may well be with charitable donations and warranties for electrical goods you no long own.

When people go on a diet, they will often sit down and write out a list of all the things they can no longer eat and all the things they can replace these tasty snacks with. The same approach works when slimming down your financial outgoing, except you’ll be counting pounds rather than calories.

Make a list of the items you have to pay for (mortgage, rent, credit cards, food, travel etc) and then compare this with the outgoings you have at present. Getting rid of any unnecessary outgoings doesn’t necessarily mean you have to lower your standard of living though.

Ironically, one of the first things you may cut could be a gym membership. If you’ve given up on the idea of dropping a few jean sizes, then there really is no point continuing to pay for something you’re not going to use.

If you really do want to keep a gym membership in place, despite rarely going, then why not see if you can find a small independent club. These will often provide a more personable service than the ones which often try to market themselves as “health clubs” rather than gyms and probably won’t charge you upwards of £60 a month like their larger competitors. Furthermore, local authority sports centres are much cheaper than the “trendier” gyms while providing pretty much the same facilities at the same time.

Then we come back to food (how could we not in an article about dieting?). Many of us like to splash out a bit when buying food and buy those well established brand names because we believe they are better quality.

These days, however, that may not be the case.

Not so long ago, own brand produce from supermarkets was, if we’re being honest, not the most desireable. In recent years, though, they have improved immensely. This probably has something to do with the fact that selling their own produce is more profitable for the supermarket itself, so if they can convince more people to buy it the more quids in they find themselves.

Indeed, there are many products on the shelves now which are as good if not better than well-known brands that have been around for generations.

TV journalist and founder Martin Lewis is one man who has been advocating buying own brand goods as a way of saving money for years.

In 2010 his website conducted a study in which it found that most people cannot tell the difference between a well-established brand and a cheaper alternative.

By switching to own brands, you can save as much as £800 a year.

Lastly, here’s one dieting tip which will help both your finances and your waistline – walking.

Many people these days use their car to drive a few hundred yards when they need a loaf of bread or a pint of milk. By walking short journeys you can save money on petrol and car maintenance while also working off some calories.


Making a diet for your finances

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Tips on Choosing a CreditCounseling Service for Your Needs

Credit Counselling Service

Credit Counselling Service

If you are struggling financially, it is likely that you are looking into options to help. A credit counseling servicecould be one of the best options for your needs. You will gain advice and more understanding about how you have gotten where you are today. However, you will need to make sure the service is the best quality and will not cause more debt. Here are some considerations to make to choose a suitable one.

  • Research the Company

When finding the name of credit Counseling companies, research them fully. The Better Business Bureau will help you find out how long the company has been in business and how often people make complaints about it. This is a great way to make sure that the company will live up to expectations and actually help you get out of debt; instead of causing you more problems.

There are too many scammers out there who are after your money with the promise to help you on your way to financial freedom. Look out for the common tricks where they promise a way to make money for a small fee or will help you improve your credit rating (while some companies do exist, the majority cause more hassle for your rating).

  • Learn More about the Counselors

There are different Counselors within the companies available to help. You will likely see one – some even offer a first consultation for free to find out more about you. This is a good time to find out more about the Counselors. You need to know their history and experience, the qualifications they have and the number of people they have helped in the past. The company may have a good reputation but you may have a new Counselor for your case, which could lead to a negative experience.

If you are worried about the Counselor, there is the option of contacting the company about seeing someone different. They may not be able to offer this depending on the workload of other Counselors. Be polite and if you cannot settle your nerves, look towards someone else.

  • How Will They Help?

Find out more about the steps the credit counseling service will take to help you with your finances. What is the service able to offer? There are many different types available and they will all come at various prices. You may think that you have found a cheap service but this may only be to help with your debt instead of controlling your spending, which will not help you in the long term.

It is also worth finding out if there is something available for after getting out of debt. Is there a service available for saving for the future? Will someone be able to help with investments for your retirement? This will help you fully gain financial freedom and avoid getting into debts in the future.

There are a number of companies offering a credit Counseling service. It is important to find out the names of each one and do your research. While you will have a budget in mind, avoid instantly opting for the cheapest service available. Find out the amount the service is able to offer, whether it has been successful in the past and how it will help you get out of debt. The BBB is a great place to find out more about a company, including how long it has been in business for financial security.

Author bio:

This guest post was written by Nelson, a financial advisor. He also writes and offers people advice on their finances, specifically on choosing credit advice and Counseling services to get out of debt.


Tips on Choosing a Credit Counselling Service for Your Needs



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Need a Loan, but Have a Bad Credit History?

I have bad credit but need a loan

I have bad credit but need a loan

People make mistakes and bad decisions, and when it comes to finances, most of us can make the same mistakes and it often leads to a bad credit history.

If you’ve been turned down by some banks because of your bad credit history, it doesn’t entirely mean it is the end of the world.

Being turned down by a few banks does not strip you of your qualifications for a bank loan. Here are some pointers on loans, textloans and bank credits.

When Things take a Turn for the Worse

Chances for loans are based on your credit history; this is almost a natural rule in loans and banking. However, it is important that there are certain situations that indeed call for the “worse”, certain factors affect your credit rating including:

  • Credit score

Credit scores lower than 580 severely limits the options for loans

  • Multiple Credit Checks

Checking the credit score very often can also affect the credit rating, often times in a negative way.

  • Creditor Malfeasance

Recently filed bankruptcies can lead to high-interest loans or a restricted credit card.

It is important to find out the extent of your credit rating, Sit down with a financial advisor and find out what your credit situation really is. It might not be as bad as you think. But even if the credit is bad, there are still options open for you. Expect the interest rates to depend on how bad the credit is; if the interest rates are higher, naturally the monthly re-payments are also higher. The interest rates would also increase the whole amount paid throughout the loan’s life.

Applying for Loans despite the Bad Credit

Discussing your credit situation with a loan officer upfront is an important step if you want to apply for a bank loan despite the bad credit. Your chances of securing a loan would greatly improve if the lenders know you are fully aware of your financial mistakes and that you’ve learned from them and that you desire another chance. To do this, borrow the amount that you need. If you borrow more than the amount necessary, you increase your chance of getting into deeper debt.

It is also a good step to consult with a loan officer personally, you might be tempted with credit loans online, but the major fallback of these is if they are indeed reliable and non-fraudulent. Avoid adding insult to injury by consulting with a trusted, reliable loan officer personally.

When meeting the loan officer, make sure the necessary documents are prepared beforehand:

  • Driver’s license for identification
  • Social security card (banks cannot provide you with a loan without your social security number)
  • Documents that reflect the assets that you have, these are proof of ownership and they stantnd as collaterals if you want to secure a loan. Property deeds and vehicle titles could be sources of proof of ownership.
  • Provide primary and secondary sources of income
  • Provide proof explaining your previous bad credit incidences. When you can explain the financial mistakes, it increases your chances of securing a loan.

Do your best to negotiate the interest rates, align it with your ability to pay the monthly dues.



Need a Loan, but Have a Bad Credit History?


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Credit Card Debt Consolidation

Credit Card Debt Consolidations

Credit Card Debt Consolidations

Funds will build up until one of the creditors will accept what is in your fund like a full payment of the debt. Such people often live from paycheck to paycheck. It is truly person to person lending. So, does credit card debt consolidation work? There are for example the student”s consolidation loans and the home finance debt consolidation. Banks that offer debt consolidation loans will loan an individual the money the need in order to pay off most or all of their debt, and they can then pay only one bank back with only one payment a month. Think about the stress-free life after you get out of debt.

Along the way, though, essential to your long-term financial health is to gain the knowledge you need to survive. If you are plagued with this common malady of severe credit card bad debts, heal with a suitable debt consolidation loan. The summation of all these various debts, will give you the total debt. After you have established an association with a credit counselor you’ll sit back and go over your entire income and debts. This is real the gist of the tale. If your accounts have been past due, many creditors will reflect your accounts as current after 1-3 consecutive payments.

It will depend all on your own personal circumstances as to which financing solution is acceptable better to pay off your financial situation. You may have to search out an entirely new credit card in order to get rates that are reasonable. Debt relief plan is designed specifically for people who can no longer afford their minimum monthly payments. They treat credit cards as free money. This can be done by transferring balances from your high interest cards to the one having the lowest interest rate. That’s a lot of debt!

It is all too easy to rack up debt on the credit cards again, leaving you with the original debts to deal with in addition to the consolidation loan. When an individual does this, the house is a piece of collateral used to back the loan. You should do oneself the honor of acquiring the best offer out there to making your consolidation as worthwhile as doable. Like a mortgage loan, you will be applying for another loan to pay off your credit card debts. So, if you have many small debts that are eating away most of your wages every month.

Credit Card Debt Consolidation

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How Paying Bills On Time Monthly Will Increase Your Credit Score

Paying Bills On Time Monthly Will Increase Your Credit Score

Paying Bills On Time Monthly Will Increase Your Credit Score


A good credit score on a person signifies financial prudence and stability and carries great benefits. To mention a few, a good credit score holder gets loans and credit cards, and approval for houses and apartments easily and quickly. She can save more money because interest rates would be low for her. Higher credit limits would be approved for her without much ado; she gets more negotiating power in other similar financial transactions, better auto-insurance rates, etc. A good credit score also accounts for a peaceful and better quality of life. Conversely a bad credit score gives the impression of a financially irresponsible person. It denies to the holder, all the above and much more. Keeping a good credit score is therefore absolutely important.


The following factors are taken into account while calculating one’s credit score –
a.  Your Payment History (35%)
b.  Level of debt or Credit Card Utilization (30%)
c.  How long you have had credit (15%)
d.  Your last application for Credit (10%)
e.  The Types of credit you are using (10%)

Since payment history of an individual occupies a prominent place among the above, roughly one-third of it – a good performance here can significantly boost your creditworthiness. The only way to build a positive credit history is to pay the monthly bills regularly and on time. Building a good payment history takes time but default on just one or two occasions can neutralize it.

Unfortunately so many people are not aware of its importance. Many among us miss payment deadlines for foolish and insignificant reasons – forgetting that a bill is due, ignoring it for some other work, going on a vacation without making any payment arrangements, and the like. Some on the other hand though aware of its significance, do not know which bills to pay first and which ones later. Lack of clarity makes them default on more important payments while using that money to pay bills which they could have avoided for the time being without risk of a negative impact on credit score.

So it is necessary to know which bills affect Credit Score the most and to prioritize their payment. It is advisable to pay credit card bills, and loan installments on home, car or furniture at the very first because any default on these will be directly registered in your credit report. In case of the latter, it can also cause foreclosure or dispossession which can totally ruin a person’s financial credibility.

Next will come Service credit, that is – electricity, water, telephone bills, natural gas etc. These are not in the nature of loans and their regular payment does not add accolades to your credit score. But defaulting on them for extended periods is an ill-considered step as you run the risk of being labeled ‘delinquent’. Your account will then be closed and all the information handed over to a collection agency. They in turn create a ‘collections account’ which can drastically negative the credit score. However, it will only happen after the company has made repeated efforts to contact the defaulter for payment over a reasonably long time without success.

When you keep different kinds of credit accounts and consistently pay on time, it can significantly boost your credit ratings. For example – payment details of your credit card account, personal loan, and home and car loan are generally reported in your credit report. Being regular and prompt for these payments will gradually build the necessary creditworthiness for you. You will then be considered a good credit risk and companies will consider it viable to extend loans to you at easy interest rates.


In addition to weakening your creditworthiness, not paying on time also results in you paying more through fines and penalties and should be anathema to any person who desires financial security. Diligently footing monthly bills also goes a long way in improving your reputation with the company you are transacting. In case you hit a financial block you can then convey your position to them. If you have already built a fair reputation, they will be understanding and may even assist you to work your way out of these problems.

About the Author:

The above article is written by Peters from Page Once. She recommends that  forgetting that a bill pay is due can lead you in severe financial issues which might prove fatal for you and your family.

How Paying Bills On Time Monthly Will Increase Your Credit Score

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Top 10 Ways to Prepare Yourself from Debt Disaster without Going Broke In Africa

Prepare Yourself from Debt Disaster without Going Broke

Prepare Yourself from Debt Disaster without Going Broke

Failure to make credit card payments on time has led many people to face debt disasters. Currently, a majority of people all around the world have similar issues in terms of managing their personal finances.  If you are facing hardship in terms of getting your credit card debt burden off your shoulders, then you should read up onhow to settle credit card debt.

It is not surprising that millions of people search ways to get rid of their credit card burden as soon as possible. This is a common phenomenon as it can turn into restless days and sleepless nights. However, there are waysto prepare you from this kind of debt disaster if things are out of control.

Have a look at the top ten ways below to prepare yourself from debt disaster without going broke in Africa:

1. Advance Planning

Nothing works unless you plan for its implementation in advance. The same strategy applies inpreparing for debt disaster. If you plan in advance how much debt to take and how to repay it, your life will remain easy. Also, keep some of your money aside so that it can be utilized during emergencies.

2. Saving

Although it is not a new term in personal finance, saving for the future is extremely essential to avoiddebt. You can save easily by limiting your expenses. This is how you can be saved from facing debtdisaster. You never know when you need money for something important. Instead of taking money from your debt payments, you can do so from the money you saved.

3. Setting up a Budget

Living within a budget is easy if you define your income well. Divide it into two parts, i.e. savings and expenses. Now, it is time to work hard in terms of expanding your savings part. At the start of each month, list down your monthly expenses and try to cut them as much as possible.

4. Using Financial Software

Financial software can be used as an effective tool to keep your finances in alignment with your debtpayments. It will also enable you to accomplish your financial goals in a much better way. Various financial software as well as different apps related to debt management are available in the market.

5. Avoiding Impulse Decision-Making

Some people live in fear that they will go broke because of debt disaster. Therefore, they find out impulsive ways to get rid of their financial worries. However, selling your valuables in not the only solution to this problem. You should think about your finances carefully and make decisions accordingly.

6. Tracking Your Spending

Some people never have an idea where their salary went. If you are one of them and you also have tomake debt payments, then you should know how to keep track of your money. You can do this easily by making a list of all the money that you spend.

7. Going for Earning Extra

You never know when a financial need arises and you end up taking additional loan from a financial organization. However, a better way to handle debt disaster is to go for an extra income. Applying for a part-time job can work best here. Additional income will help you pay off your debts on time.

8. Setting Smaller Goals

Do not pay debt in large payments. Otherwise all your income will be spent on it. In order to ensure you do not face debt disaster in the future, you should make small payments of your debt.

9. Checking Your Credit History Regularly

Always remember that having a bad credit score can ruin your future because lenders do not prefer to give credit to such people. Therefore, it is important for you to check your credit history regularly.

10. Consulting Financial Professionals

If things go out of control and you are unable to manage debts on your own, then you should consult a financial organization. This way, you can prepare yourself from debt disaster conveniently.

Preparing for debt disaster is possible if the above tips are followed well.

When you start saving and cut your expenses, you will see the difference yourself. Although numerous financial programs are there to help you manage your financial issues, you should learn how to solve them yourself and read up on how to settle credit card debt.

Top 10 Ways to Prepare Yourself from Debt Disaster without Going Broke In Africa


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Easy Steps To Get Rid Of Credit Card Debt Burden Quickly

Get Rid Of Credit Card Debt

Get Rid Of Credit Card Debt

Following the recent economic mayhem of 2008, more and more individuals have opted for a non-stop use of credit cards. Times are tough and with the rising prices of gas, fuel and every other essential item, it’s quite natural to face difficulties in covering even your basic necessities. The main motive of using a credit card is to buy commodities easily without bearing the inconvenience of carrying a lot of cash. However, people mostly get accustomed to an incessant use of credit cards and finally end up in a sea of credit card debt. Lowering credit card burden is normally a debtor’s first step towards economic liberty.

Credit card organizations allure people with cash advance checks, low initial rates, and other attractive offers. However, a lot of individuals fail to realize the fact that once they start using a credit card, they are at the credit card organization’s mercy. They need to understand that the low opening rate can easily turn into a 30 percent yearly percentage rate. Once you start paying off your credit card liabilities, you’ll ease up your funds for college, retirement and other savings areas. While getting into debt problems is pretty easy, coming out of it could be really tough. Following are a few easy tips to help you pay off your credit card debt quickly.

Stop using your credit cards – Before you take any other initiative, you need to understand one thing; unless and until you stop using your credit cards, you can never come out of the vicious cycle of credit card debt. If you keep using your credit cards even after accumulating a huge amount of credit card debt, it will do nothing but simply add to your existing debt burden. Thus, in case you cannot give up the habit of using credit cards, here’s a simple solution – simply slice up your credit cards or lock them away in a closet.

Consider repaying your high-interest debts first – At times, even if an account doesn’t hold a huge balance, it’s advisable to reimburse it first if it includes high interest rates. This’ll help you save a lot of cash in the upcoming days.

Once you’ve paid off one credit card, enhance your payments to the next – When you save a certain amount of cash per month, avoid spending it on unnecessary purchases. Instead, use the money for paying off your next credit card. This’ll definitely aid you in getting rid of the debt problems quickly. Once you pay off all your credit card debts, you can put the cash you’d usually spend on debt payments into a savings account to ensure a secured financial future.

Get in touch with your credit card organization – If you’re head over heels in credit card debt, call your credit company to discuss and explain your financial situation. Also ask them for all the options available. In case you default on your payments, you might have to opt for a fixed payment plan that’ll lower your net debt amount if you agree to make a certain payment per month.

Remember that nothing is easy in life. Whatever you do, wherever you go, you need a lot of patience and dedication to reach you goal. You can’t really get rid of your debt problems overnight. Just take help of the above mentioned tips, and you’ll be able to come out of your debt troubles soon.

Author Bio: This article has been contributed by Mr. Patterson.He likes to keep updating himself regarding recent developments in finance sector. He has written many articles on credit repair , credit score , bankruptcy , debt management etc.

Easy Steps To Get Rid Of Credit Card Debt Burden Quickly


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How to Eliminate Your Growing Credit Card Debt

How to Eliminate Your Growing Credit Card Debt


How to Eliminate Your Growing Credit Card Debt

Eliminate Your Growing Credit Card Debt – there are many ways in which you can do to help you to save your money and stop you from getting into even more debt.  The problem is that we can get into debt before we know it but trying to get rid of it completely is something that is very hard to do in fact because not everyone finds it so easy to actually get rid of debt; it can be a death trap to many of us and we don’t know how to relieve ourselves from that trap.

Many people however prefer to have a plan of action to get rid of the credit card debt.

What you firstly need to do will be to know what your debts are; it can seem a long and almost impossible task to do but it can be done.  Many of us will have debt hanging over us for years and there really will not be any way out of that and if we are being honest then this could happen for years and there will only be a few ways in which you can actually take the debt out of your life.

Many people are paying back almost thirty percent of interest which means that people trying to pay back the debt will struggle to even repay the interest back never mind the debt.  This on a credit card however is ten times as worse because it is there and it stays there adding to the debt.  This can be made much worse when the smallest amount is paid out.

What you also have to do is to know which card has the highest interest rate so that you can try getting the interest down.  So you should be starting off with that however because getting the biggest amounts out of the way first can be best so that the highest is gone and the rest can be then looked at.

Next you should try to pay back more than just the minimum rate so that the credit card debts will be lowered since there are more than just the minimum payments being made.  Getting the debts down quicker can only be done by the use of paying as much as you can; always try however to keep the payments to the same date.  Try a few days before the end of the month and when the actual date of the payment needed to be paid out so that if you do forget or are a day out from the normal date there will be no late fees applied.

So once that the first and highest debt has been paid off you can now go onto repeat these steps with the other dents always going with the highest amounts first.

If possible when you are in the process of repaying the debts try to see if there are any possible ways of getting the interest rates lowered.  That is vitally important for eliminating the credit card debts because debt is difficult to get rid of at any times and still today it is very hard to get rid of.


How to Eliminate Your Growing Credit Card Debt

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Top 5 Secrets tо Build Good Credit

Top 5 Secrets tо Build Good Credit



Top 5 Secrets tо Build Good Credit

Top 5 Secrets tо Build Good Credit


When уou hаvе a good credit score іt means thаt you cаn bе trusted; уоu аrе responsible in managing уоur finances. You cаn enjoy thе benefits оf gеttіng lower interest rates оn credit cards аnd mortgages when уоur credit rate iѕ excellent. Therefore іn order tо tаke advantage оf thesе benefits уоu muѕt start building а good credit rating. How shоuld yоu dо that? Here arе the bеѕt keрt secrets banks dоn’t wаnt yоu tо know.


1. File fоr а loan frоm banks оf yоur choice. Yes уou’vе read іt right! You cаn begin dоіng thiѕ wіth threе banks, but іf уou сan handle thе interest payments thеn уоu mаy go fоr mоrе banks. Inform thе banker that yоu arе building credit fоr уour business. Make sure thаt thеsе banks create reports tо credit agencies beсаusе if theу don’t, thіѕ wоuldn’t make sense.


2. Now that уou hаvе money, deposit part оf іt іn a thrеe month CD (Certificate оf Deposit). $1,000, оr higher іs thе bеst value уоu ѕhould invest. Repeat thіѕ process wіth thе rest оf the banks уоu filed а loan from. CD іѕ lіke а time deposit whereіn уоu сan’t withdraw thе amount you deposited untіl thе maturity date. However, a Certificate оf Deposit offers bigger interest rates compared to othеr investments.


3. Do nоt deposit аll уоur money intо a threе month Certificate of Deposit. Take ѕome amount to open а savings account аt thе banks whеre yоu аlsо acquired yоur certificate оf deposit. Once yоu hаve it, bе ѕure nоt to withdraw thеѕe deposits.


4. After 3 months, withdraw уоur CDs. At thiѕ point уou havе gained еnough good scores оn yоur credit report thrоugh thе banks yоu аrе affiliated with. But yоu hаvе tо be careful wіth CDs bеcаusе banking institutions impose penalties tо thоѕe whо сould nоt meet іts terms аnd conditions. So thе beѕt waу to stay аwау frоm bеing hassled іѕ tо wait untіl уour certificate matures-you сan dо whatever уоu want with уour investment thereafter.


5. The lаѕt thing уоu hаve tо dо іѕ tо pay уоur loans uѕіng thе money yоu invested іnto thе 3-month CD. Cash in the CD ѕо уou nо longer hаve аnу liabilities іn these finance companies.


Easy steps right? Hold оn tо thеѕе simple steps. They аrе effective tools of debt elimination. With thеѕе steps handy, уоu’ll build аn excellent credit rating іn nо time.

Top 5 Secrets tо Build Good Credit

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How to Stop Paying Credit Card Debt

How to Stop Paying Credit Card Debt


How to Stop Paying Credit Card Debts

How to Stop Paying Credit Card Debts


Most of the times everyone is going to have an account which has a lot of debt on, credit cards mostly and we all know that when we see the high limit we can absolutely love this.  In fact it is something that we cannot get enough of; with the amount of finances that you have with these credit cards it is always going to be very difficult to actually pay these amounts back.

If you do have a lot of debt with credit cards then your credit score will be lowered and you won’t really be able to get a good mortgage or even a car loan for the simple fact that your credit score is poor.

You always have to look at what credit card debts that you have and which accounts you really want to settle to get rid of the debt that you have.  Think about the interest that is being added onto the debts and then you will really understand what the amounts are that you are going to have to pay back each year that you have the debt.  Try to find out which credit card has got the highest interest so that you can focus on that card first.

You are going to have to get every single credit card that you have so that you can get their contact information and call the companies up.  You are going to want to contact them and find it they can get a lower rate; having a good track record over your payments is something that is going to keep you in good stead so that you can have a higher chance of getting a lower interest rate.

Think about knowing what interest rate is going to be the most suitable rate for you; do not try to get a ridiculous amount of interest but one that is going to be really a fair one on both sides.

Try to find a few credit cards that won’t actually charge you to transfer the debts over to them and hope that they have a lot less interest on them also.  If you do get a credit card that has a zero balance transfer then think about putting the debt onto these because you are not going to be paying any more interest than truly needed.

Think about applying for a cash advance loan; this might not be something that you want to go to but it really can be a way in which you can get yourself a short term loan so that you can pay the debt off.  This can be almost a hazardous thing to try however because if you fail to pay the loan in a two week time then you will have to have interest on the next month which rolls onto the next if you do not pay this back.

If these routes are not things that you can’t try then think about how you might be able to get the credit card debt written off.  You should be contacting the companies and telling them that you are wishing to pay the money back but your finances are not in good shape to be paying the money back.  A plan may be worked out over repayment.


How to Stop Paying Credit Card Debt

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How to Pay Off Your Credit Card Debt

How to Pay Off Your Credit Card Debt


How to Pay Off Your Credit Card Debt

How to Pay Off Your Credit Card Debt


If you have credit card debt then you will know that it is so easy to get into debt than what it is to get back out of debt again.  The truth is that if you have a lot of debt over your credit cards then you are going to have to do a lot of work to pay back the loans; the balances can be high and can stretch over time also.

You all want to control your finances because money is important to keep our families safe and have a roof over our heads but it does take time to get the debts paid off especially when you are paying more than what you are bringing in.

You are going to have to think about getting a lot of discipline and then your paitnece because these are key for you to succeed in paying back your debt.

The first most important step for you to do will be to stop using the credit cards that you have; it doesn’t matter if you have got a balance on them or not, it is still a way of getting yourself into debt so don’t use them.

If you have a high credit limit on the credit card then you are going to forget about that and you could rack up a bill of almost ten thousand dollars so the important step here is to stop charging anything to them and stop using them altogherer.

You want to put your credit cards into a safe place where you wont get to them and wont be tempted to use them to charge more onto the bill so try putting them into a box with a lock and then handing the box and the key over to your family member or put them into a bank safety deposit vault.  Even if you keep the key in one place and the cards in another; you wont have access to either and wont be able to get to them.

You have a minimum amount that you can pay back every month but this shouldn’t be done however because this is a small amount and remember that you still have the interest rates pilling up on top of all that.  If you have debts over almost ten thousand dollars and you are only paying fifty or sixty dollars but that is not going to be a good thing.  If possible try paying a hundred or even over a hundred dollars a month so that you are increasing the payments.  If you can pay at least a few hundred then it could be more helpful.

You should think about setting up an automatic payment system with your bank accounts so that the payments are going to be taken out every month at the same time.  The credit card company will like this way because they know that you are going to be taken out and paid on time and there wont be any late payments made.

You are going to have to think about creating a budget so that you can cut out things that aren’t vital to you and can live by this budget also.

How to Pay Off Your Credit Card Debt

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