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Debt and Debt Consolidation Articles
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- How does debt consolidation help? - by Submitted on Jul 29, 2009 from Jason HolmesIf you have lots of debt that you cannot fix and you ask yourself "Is debt consolidation good?" the answer is 'yes'. Debt consolidation helps you by combining your multiple debts and paying them off regularly as one single payment. There are several ways in which you can get your debt ...
Views: 1251 - Debt relief: How can you go about it? - by Submitted on Aug 27, 2009 from Jason HolmesAre you overburdened with debt and blaming your luck for your present situation? Stop cursing yourself and try to find a way out. A number of options are available and you can decide which one suits you the best. You can take professional help in order to clear your debt. The professional ...
Views: 851 - How to Save Money Using Debit Cards - by Submitted on Jul 26, 2009 from Theodore HendersonDid you know that using a debit card instead of a credit card can help you save money? If you are old enough to remember when debit cards didn’t exist you probably recall being at the grocery store with a cart full of food and household products and realizing that you had way overshot your ...
Views: 1457 - Filing Bankruptcy Can Be an Opportunity - by Submitted on Jul 22, 2009 from Intent.com AuthorsI have several friends who suffer pretty badly from the current economic collapse. Some of them lost their homes, some got laid off, most of them were faced with the necessity of filing bankruptcy. When I listen to their stories there is sadness, fear and confusion in what they are saying, and ...
Views: 885(3 votes) - What to Do if You Are Being Sued for Credit Card Debt - by Submitted on Jul 22, 2009 from Keith GarrowBeing sued for debt is a frightening thought, but is an increasingly likely scenario for many consumers struggling through the credit crunch. One of the most common forms of consumer debt is money owed to credit card companies. The reason for this is not least because it is often very easy to ...
Views: 1187(3 votes) - 10 Steps to Repairing Your Credit - by Submitted on Jul 20, 2009 from Angelina HarrisDoes credit card debt got you down? Does it seem like you will never be free of this weight? If you're struggling with debt, here 10 steps you can take to repair or rebuild your credit. If you’re short on time, energy, or you at your wits end, contact one a Credit Counseling agency. ...
Views: 706 - Benefits of Debt Consolidation - by Submitted on Aug 24, 2010 from Trevor PoulsonAre you seriously in debt and don't know which way to turn? Thinking about taking out a loan to pay off your current debts? More people than you realize find themselves deeply in debt and consider debt consolidation as an option but are afraid they won't be approved for a loan. Surprisingly, ...
Views: 1419 - Being Sued For Debt and Advice on How You Can Avoid It - by Submitted on Jul 09, 2009 from Keith GarrowCredit card companies and collection agencies are quite within their rights to take legal action against you if you have failed to pay a debt that you legitimately owe. Taking out credit is a legal agreement, so if you fail to keep up with your end of the bargain by not paying the money back ...
Views: 903(2 votes) - Moving On After Bankruptcy - by Submitted on Jul 08, 2009 from Menno SpijkstraWhen talking about bankruptcy, people tend to avoid that very situation. They wouldn’t want to entertain that idea very on their mind. Even in the midst of a big financial crisis in their lives, bankruptcy is the least option. They would rather think about other means just not to get bankrupt. ...
Views: 2711(2 votes) - Debt Management Services: A Solution to Your Debt Problems - by Submitted on Jul 07, 2009 from Menno SpijkstraRunning out of money is just so ordinary nowadays. With so much to pay for the basic necessities like food, clothing, property mortgage, education and more; you find yourself one day with piles and piles of debt. A huge debt problem will soon face you if you can’t handle all your borrowed money. ...
Views: 747 - The Truth About the Credit Crunch - Revisiting the 28/36 Debt-to-Income Ratio Rule - by Submitted on Aug 06, 2009 from Christopher MusicDo you know where the 28/36 rule comes from? If you have ever applied for a mortgage, you may well have wondered about where that 28/36 debt-to-income ratio rule came from that the mortgage broker talked to you about. And whether it makes sense... Read on to discover some surprising ...
Views: 1116(4 votes) - How Do Creditors Determine Whether to Grant You Credit? - by Submitted on Jun 29, 2009 from Krista ScruggsDo you know how the bank determines whether or not to issue you a credit card? Moreover, do you know why you get an interest rate that is slightly higher than your neighbor’s, even though you both carry the same card? You do know, of course, that institutions issuing credit cards and offering ...
Views: 2079 - Should You Work With a Debt Consolidation Agency? - by Submitted on Jun 29, 2009 from Krista ScruggsDebt consolidation agencies specialize in bundling consumer debt. The principle is simple: a consumer who owes varying amounts of money to a host of unsecured creditors can consolidate this debt with such an agency. Instead of paying seven, 10 or more monthly payments to a variety of locations, ...
Views: 1004 - Debt Advice: What Get’s You In Debt, And How To Get Back Out - by Submitted on Jun 24, 2009 from Menno SpijkstraThe balance between the money coming into your pocket and the money going out has got to be maintained. If you were to weigh the two, the ideal scene would be this: cash coming in weighs 75% more than the dough going out. To simply put, earn plenty more than what you spend for. But that kinda ...
Views: 838 - Debt Advice: What Get’s You in Debt, and How to Get Back Out - by Submitted on Jun 24, 2009 from Menno SpijkstraThe balance between the money coming into your pocket and the money going out has got to be maintained. If you were to weigh the two, the ideal scene would be this: cash coming in weighs 75% more than the dough going out. To simply put, earn plenty more than what you spend for. But that kinda ...
Views: 761 - “No Credit Application Refused” - by Submitted on Jun 20, 2009 from Gary McClureWe’ve all seen those advertisements that promise auto financing for everyone. What you don’t see is the real truth behind these ads. No auto dealer is ever going to “refuse” a credit application, there’s a big difference between accepting and approving a credit application. It might surprise ...
Views: 3903 - Facts About the Fair Credit Reporting Act Every Consumer Should Know - by Submitted on Jun 14, 2009 from Krista ScruggsCredit reports have the power to preclude a consumer from obtaining a crucial home loan, buying a much needed car, or even renting an apartment. In some cases, these credit profiles may even hinder the consumer from finding employment for which s/he is perfectly qualified. Credit reports contain ...
Views: 1083 - Limitations of the Fair Credit Reporting Act Most Consumers Do Not Know About - by Submitted on Jun 14, 2009 from Krista ScruggsThe Fair Credit Reporting Act stipulates that consumers have the right to dispute any item listed in their credit profiles. To accomplish this, consumers are urged to request a copy of their credit profile at least once a year. This is usually free of charge. When a consumer is denied credit, ...
Views: 989 - How Does the Statute of Limitations Affect Your Credit Repair? - by Submitted on Jun 14, 2009 from Krista ScruggsA statute of limitations defines a set frame of time during which legal action may be taken. With very few exceptions, all debts have legally defined statutes of limitations. These are usually state rules, and for an unsecured debt a statute of limitations may run from three to six years. After ...
Views: 1187 - Erase Bad Credit Reports – Is It Possible To Wipe Out A Poor Credit Record? - by Submitted on Jun 11, 2009 from Keith GarrowWould you like to erase your bad credit report? Yes of course you would – who wouldn’t. Unfortunately that does not mean that it is possible to do so. You can take steps to improve and help build up your credit rating, but there is nothing you can do to just erase a bad credit report. So why ...
Views: 2958(1 vote) - Credit Repair Consultants Warn About Statute of Limitations Issues - by Submitted on Jun 05, 2009 from Krista ScruggsCredit repair is the consumer’s answer to a blemished credit record. Years of neglect can easily turn a credit report into a liability that forces the consumer to pay higher interest rates or even be denied credit altogether. There are a number of reasons why this happens. Missed payments, ...
Views: 1132 - Thinking of Using a Credit Repair Specialist to “Fix” Your Credit? Think again. - by Submitted on Jun 05, 2009 from Gary McClureCredit repair companies or “specialists” are popping up all over the country in the last few years, so many in fact that Credit Repair Organizations Act (CROA) was passed in 1996 to protect and advise consumers of their rights when using a credit repair specialist. I strongly suggest that you ...
Views: 1364 - Bankruptcy Doesn’t Have to Be the End of Your Credit Life - by Submitted on Jun 05, 2009 from Gary McClureAfter your bankruptcy has finally been discharged the courts and you have your discharge papers in hand, what next? How do you begin to rebuild your credit? The first thing to remember is what led you to bankruptcy to begin with. You don't certainly don’t want to end up in the same financial ...
Views: 1397(3 votes) - Sample Household Budget Forms – How a Home Budgeting Form Can Help Your Finances - by Submitted on Jun 03, 2009 from Keith GarrowPeople experiencing problems with personal debt are not the only ones who could benefit from proper budgeting when it comes to household finances. Finding a long term solution to debt does involve learning to control spending, but budgeting is a process from which anyone can get real benefits. ...
Views: 1327(2 votes) - How Do I Consolidate My Debts? - by Submitted on Jun 03, 2009 from Keith GarrowIn many ways a better question might be ‘should I consolidate my debts’, rather than ‘how do I consolidate by debts’. Debt consolidation is a relatively straightforward process in itself, made as simple as possible by the loan companies who are eager to offer you a loan. However, before you ...
Views: 1060(1 vote) - Home Budgeting Software – Advice on Tools to Help with Personal Budgeting Strategies - by Submitted on Jun 03, 2009 from Keith GarrowThere can be little doubt that budgeting is a really useful way to plan and control your expenditure, but the reality of actually putting it into practice is often so daunting that we just never even start. There is a tendency to think of budgeting as a painful kind of rationing, making ...
Views: 1547(4 votes) - Debt Management is an Art! - by Submitted on Jul 24, 2009 from Jason HolmesA debt management program can help you turn your loans, credit cards and overdrafts in to a payment that you can afford. If you can turn your debts in to a single monthly premium, you may be able to afford the payment. Your payments may become much easier to manage with good debt ...
Views: 1463 - What is the Difference Between Chapter 7 and Chapter 13? - by Submitted on May 29, 2009 from Gordon LevinsonThe difference between these two chapters of the Bankruptcy Code and their time lines are as follows: Chapter 7: Also called a “straight bankruptcy”, chapter 7 involves the liquidation of non-exempt assets for the benefit of creditors. Most chapter 7 cases are considered “no asset” cases ...
Views: 1271 - I Don’t Want to File for Bankruptcy. Are There Other Options Available? - by Submitted on May 29, 2009 from Gordon LevinsonYes, however it is imperative that you discuss the pro’s and con’s of these other options with a qualified consumer attorney before jumping into anything. While there are many ways to address unsecured debt absent a bankruptcy filing, the following 2 options are the most common: Debt ...
Views: 5123 - Will My Credit Be Ruined for 7-10 Years Once I File for Bankruptcy? - by Submitted on May 29, 2009 from Gordon LevinsonOne of the common myths about filing for bankruptcy is that it ruins your credit for many years. The answer is “it depends.” It depends on a number of factors including your current credit score, your debt load, and your previous credit history. As surprising as it sounds and contrary to ...
Views: 1985 - A Judgment Has Been Entered Against Me. What Happens Now? - by Submitted on May 29, 2009 from Gordon LevinsonOnce a creditor has obtained a judgment against you, chances are they will likely attempt to enforce it. There are many collection tools available in this regard depending on whether collection is sought against a business or individual. The following are the most common ways a judgment ...
Views: 13499(2 votes) - Consolidating Credit Card Debt: 4 Options for Getting Out of Debt - by Submitted on May 28, 2009 from Marcilio DavidHave you thought about consolidating your credit card debt? If those high interest rates on cards are killing you, this may be an option. When you consolidate credit card debt, you get one lower payment per month. There are four easy ways to go about consolidating credit card debt. 1. Get a ...
Views: 1019 - Understanding the Statute of Limitations and Consumer Debt - by Submitted on May 28, 2009 from Krista ScruggsThe typical American consumer carries a fair burden of secured as well as unsecured consumer debt. These accounts usually refer to credit cards, personal loan, store credit accounts, and also car loans as well as home loans. It is not surprising that the recent economic downturn has seen an ...
Views: 1244 - Is it Time to Settle Your Credit Card Debt? - by Submitted on May 28, 2009 from Krista ScruggsCredit card debt – unlike any other kind of consumer debt – is hard to eliminate, even with conscientious monthly payments. Over time, the compounding interest and minimum monthly payments shackle the consumer to an ever increasing debt. In these uncertain economic times, there is also the ...
Views: 793 - Important Facts on Mortgage Prequalification - by Submitted on May 28, 2009 from Krista ScruggsObtaining a mortgage prequalification is the single most important step to ensuring that you are seen as a serious contender for a piece of real property. Moreover, it provides you, the consumer, with the amount of money that a bank is willing to lend for the sake of obtaining a home. Going ...
Views: 1190 - Is There a Minimum Amount of Debt Required to File Bankruptcy? - by Submitted on May 27, 2009 from Gordon LevinsonThis is a question I hear quite often as people contemplate filing for bankruptcy. The answer is no. The decision to file for bankruptcy relief is relative to the debtor’s financial situation. For example, it is not uncommon for someone who is living on social security or other fixed income to ...
Views: 3406 - Keeping the Car You Love Despite Owing Much More Than it’s Worth. How Can Bankruptcy Help? - by Submitted on May 27, 2009 from Gordon LevinsonIt is the exception rather than the rule that a person financing a vehicle owes less than or equal to the cars value. Unless you put at least 20% down, chances are you are upside down. Bankruptcy not only can eliminate unsecured debts like credit cards, it can also drastically reduce what you ...
Views: 1440 - I Received a “Notice of Abandonment” from the Trustee! What Does that Mean? - by Submitted on May 27, 2009 from Gordon LevinsonWhen a debtor receives a “Notice of Abandonment” from the trustee, they should not be alarmed. The title of the document oftentimes scares debtors into thinking they are going to lose the property listed in the notice, which is not the case. Basically, a notice of abandonment is the ...
Views: 6604 - Reaffirmation Agreement: What is it and What Are the Pro’s and Con’s of Signing One? - by Submitted on May 27, 2009 from Gordon LevinsonWhen you file a Chapter 7 bankruptcy case, you also file a statement of intention with respect to property that is secured by consensual liens (car loans, furniture loans etc.). Bankruptcy law requires you to “perform” or move forward with your intentions regarding financed personal property ...
Views: 2353 - The Automatic Stay: What is it and What Can it Do for You? - by Submitted on May 27, 2009 from Gordon LevinsonThe automatic stay is one of the most powerful weapons in a bankruptcy arsenal to protect a debtor from his or her creditors. It’s impact is immediate upon the filing of the bankruptcy petition with the court, and its purpose is to provide instant relief from the stressors of creditor ...
Views: 1114 - Filing Under Chapter 11 Bankruptcy - by Submitted on May 26, 2009 from Menno SpijkstraWhen worse comes to worse, in terms of the financial aspect, there isn’t pretty much left for you to do. There may be some things that you can do, but most of which would probably be difficult on your part, and the rest illegal. Owners of businesses that are no longer capable of paying off ...
Views: 909 - Erasing Bad Credit Reports – Find Out the Truth About Promises to Erase Poor Credit History - by Submitted on May 25, 2009 from Keith GarrowI am forever surprised at the volume of sites and adverts on the internet claiming to wipe out bad credit reports. These appeal to the same desire in all of us as those adverts promising to give us the secret of getting rich quickly without having to work at it. Sadly, both such claims are ...
Views: 1193(2 votes) - TARP Money and Credit Card Debt: The $700 Billion Elephant in the Room - by Submitted on May 24, 2009 from Butch GrimesIf you're a bank, things are looking up! The $700 billion from the Troubled Asset Relief Program (TARP) has largely gone to buoying up financial institutions with some help to the struggling auto industry as well. So if your name is Bank of America, Citigroup or GM then congratulations are in ...
Views: 1320 - Money Management and Student Debt Consolidation - by There is but one lesson that every college student needs to remember in relation to money: everything you do has its own consequences. Money spent poorly (shopping splurges, unnecessary purchases, no savings at all) can be tantamount to a financial black hole four years from the first year of ...
Views: 920 - Understanding Debt Settlement and Debt Elimination - by Submitted on May 14, 2009 from Krista ScruggsImagine getting rid of a mountain of debt, and doing so legally! Debt elimination is one of the primary goals of Americans who are heavily hit by a faltering economy and waning home prices as well as shrinking nest eggs and college funds. The vast majority of everyday consumers carry in excess ...
Views: 902 - Organizing Your Credit Cards – Do’s and Don’ts. - by Submitted on May 14, 2009 from Deb WilsonMost of us use credit cards extensively month to month and almost as many people don’t use them to their full advantage and end up paying way more interest than they should. Here are some credit card tips on how to keep on top of your credit cards and get the benefits you’re entitled to. Credit ...
Views: 769 - Credit Repair with High Impact - by Submitted on May 13, 2009 from Karen LynchRecent economic troubles throughout the world have left many people struggling with bad credit reports and low credit scores. Recent problems in all of the financial sectors have changed many of the rules of the past and some of the old rules are now obsolete. This has left many people not ...
Views: 867 - What Happens When You Consolidate Your Debts? - by Submitted on May 12, 2009 from Keith GarrowDebt Consolidation is often the first thing that people consider when they experience debt problems. Consolidation debts is basically the process of taking out one large loan to pay off all your other debts, leaving you with only one payment to think about, which is usually a smaller amount ...
Views: 5419(1 vote) - How To Qualify for Chapter 7 Bankruptcy - by Submitted on May 10, 2009 from Menno SpijkstraFiling for bankruptcy is considered to be the measure taken when somebody fall into the pits of financial ruin, then falls into that pit’s pit – that’s how bad it is. Now if you find this concept a little hard to understand, here’s what you’ve got to know: bankruptcy is the state of an ...
Views: 996 - Can a Creditor Sue Me for Unsecured Debt? - by Submitted on May 07, 2009 from Keith GarrowFirst of all we need to be clear about what is meant by unsecured debt. Most loans and debts will fall into one of two categories, secured or unsecured. A secured loan is secured against some asset you own, usually your home. What it means is that if you default on the loan, you can lose the ...
Views: 3855(3 votes)