dolfingirl80 asked:


I have gotten behind on my bills, and have some other stuff on my credit report that I have been working on paying off. It’s hard to get ahead being a single Mom, but I’m doing okay. It just seems like I can’t get ahead. Does anyone know a company that will help with consolidating debt? If so, have you used it? I don’t want some random company that was googled off the internet. I am asking from persoanl experience. Thank you so much for reading

Bryan

Anthony Dean asked:


Debt is a situation increasing numbers of people in the Western world are finding themselves in; ignoring the situation will just make things worse. A debt relief solution might save your home, possessions and a great deal of stress. Debt has become a major problem in many countries but it is important to reduce debt burdens seriously if you do not want to live with less worry.

At this point you need to stay positive and remember that if you start experiencing stress over your financial situation it will affect how you handle it. It is often the case where a loan is taken out but circumstances change and it becomes a burden but you need to continue the repayments.

Create a budget for yourself by adding up all your income, payments and expenses which will help you check where your money is being spent plus your budget will highlight all the small, unnecessary expenses that can be eliminated. One hard action you will face is to slow down or stop the use of your credit card then start using cash again and you will find yourself being more careful.

One sure way to help with your debt relief is to save all spare cash and place it in a fund to pay off smaller amounts that are owed but drain resources. You will also find that if you do not eat out as regularly or continue with other types of entertainment then this too can go into the fund and help pay off your creditors one by one.

Whilst home refinancing is a way to pay off your debts many people try to reduce their outgoings instead, this just gives the person a bigger mortgage but this just increases the amount you will pay in the future. You may consider this your only option but if it is just to ensure you have extra cash in your pocket each month, which is ok, just think about whether you really need too.

One method of reducing the amount of cash paid out monthly, albeit a short term one, is to use cash out on your credit card to pay for the monthly installment. If none of these options can work, including the mortgage refinance then you may have to consider bankruptcy but take advice from a bankruptcy attorney first.

Unfortunately, some people in debt avoid bankruptcy and resort to using their individual retirement account to help pay their debts but you are on a slippery slope if you take this route. Any future tax deferred returns will be lost with this action and it should never be used as a quick fix when other good solid ways for debt relief are available but might require a little effort.



Gloria

Elizabeth Grant asked:


Credit card debt was an inevitable situation as credit cards became the norm in almost every household; cards have become easier to obtain and more tempting to use, which is a lethal combination. The problem is it is just too easy to spend money but now people are looking for ways to try and pay off the thousands they owe to the finance companies. Generally speaking the only way out of this predicament is by using a credit card debt relief solution.

The card holder must cease using it whilst he or she finds an option or the situation will just get worse and will never be resolved. This fist stage is the most difficult but once the decision has been made it is then just a matter of looking at all the credit card debt relief options available. The three debt consolidation plans detailed below are going to be your best options although they are by no means the only one available.

The easiest method of debt consolidation is where the person still has a good credit rating and uses another credit card that has a low rate of interest where all the debts can be transferred to one card. A good alternative to this option is a consolidation loan at a low interest rate where the debtor can decide exactly how much they can afford to repay every month after the outstanding debts have been cleared.

This option does require a certain level of commitment on the debtors part as once the debts are clear there must be no temptation to use them again. Remember, consolidation by card or loan will only work if the debtor has not already damaged their credit history.

At this point, debt negotiation is one option available, provided you decide to make a lump sum payment and if the debtor lets a credit card debt relief company negotiate with the creditors on their behalf. Normally, when these negotiations proceed approximately half the debt will need to be paid and the remainder to be written off by the creditors.

The final option is bankruptcy which should not be taken lightly but if the debt is totally out of control and there is no way to escape from the debt trap then filing for bankruptcy may be the only way out. Whilst this final option may at first appear to be the best it means credit in any form will be difficult if not impossible for a very long time until the credit history starts to build once again in a positive manner. Hopefully, the debtor will learn a lesson from this so they do not require relief from their credit card debts in the future as bankruptcy is an option that will not always be available.



Jon

Bobby Zangrilli asked:


Debt relief is the partial or even total forgiveness of a debt; it also means eliminating debt or capping interest rates in certain cases. No matter what method you opt for, it is essential that you change your spending habits if you wish to fully recover from debt after being given debt relief. You ultimately need to budget, and ensure that you spend less money than your earn each and every month.

As credit card offers flow into mailboxes every day, debt dominates many people’s life in western and developing countries around the world. Many consumers are interested in eliminating credit card debt because they are constantly worried; they feel powerless and anxious when the phone rings or mail arrives. Personal debt is a large problem however that is not to say that there are not options available to assist the consumer.

One way to reduce debt is through a process called debt negotiation. This is when the person in debt, or an agent acting on their behalf, negotiates with financial institutions to have them agree to reduce the total debt outstanding. This is beneficial for both parties as the financial institution will now get some money rather than none, while the consumer can rest now that their debt has been brought back down to a manageable level. Although this is a great option, it can affect your ability to borrow in future as well as your credit score.

Consolidating all your existing debts into one small monthly repayment is, in many situations, the best solution to eliminate stress inducing demands. People can get debt free faster using a debt consolidation loan. If you are currently paying too high interest rates, or are effectively securing an unsecured loan then the total amount owed will also be dramatically reduced. When you reconsolidate loans you will also be starting fresh with a new financial institution, this means that you get an opportunity to pick the best deal available in the market.

Bankruptcy is another option that people explore when they are trying to become debt free. This should always be the last option for everyone; however it does result in the person who is in debt becoming debt free. The disadvantages of this method are that the person who is in debt will not be able to borrow again, and could also risk having any assets stripped from them. This includes your car, your home and even any clothes that you have.

Once you manage to get on top of your debt, you then have to stay on top of it. For many this means a lifestyle change. It is essential that you not only set a firm budget, but also ensure that you are able to stick to it. When you are budgeting it is important that you are realistic in your approximations. All too often, people imagine that they will be able to live off much less than they expected. Remember to budget for everything, from buying new clothes, toiletries and even entertainment.



Barbara

cjmomma asked:


Just wondering before I do it ….. went to the website and started, now I have to call and speak with a counselor.

What do they charge? Are they on the up and up? Do they really help?

Dorothy

David Brown asked:


 

Did you know that 14% of the average American’s income goes into the payment of debts? The slump in home prices, rising unemployment and the decrease in real wages have contributed to the payment defaults of a large number of Americans. Are you also headed towards that direction? Then you need to think of ways to avoid into that swamp of unpaid debts. This can be done through debt relief help.

The basic aim of debt relief help is to reduce your overall repayment amount by lowering the interest rate. There are many programs through which this can be achieved:

* Debt consolidation

If your debt crosses a total of $5000 and you owe them to more than one creditor, then debt consolidation can be undertaken. Balances and rates on your debts are lowered. Then they are combined into a single debt. So, you make only one payment to your debt consolidation agency instead of multiple payments to all your creditors.

* Credit counseling

If you are unable to make your minimum payments, you may take the help of credit counseling services. Experts from the credit counseling firm will negotiate with your lenders on your behalf. Their aim is to reduce the rates and penalty fees on your debts. Generally, it takes a maximum of 5 years to get completely out of debt through credit counseling.

* Debt reduction/ Debt negotiation

Under this scheme, your debts are virtually slashed, sometimes by 50%. This makes it easier for you to pay off your debts. After the settlement is reached with your creditors, you don’t have to pay the original amount.

Through such programs, you can pay off your debts fast before they accumulate in amount. Which option suits you depend upon the seriousness of your situation. You can take the help of the internet and research on these various options to find out about the kind of costs and charges involved.



Mike

Anthony Dean asked:


Financial debt is now a major concern to many millions of people in the West; for many people admitting the problem is the hardest part, but it must be done otherwise the situation will never improve. There are many ways to provide debt relief but whichever you choose, you must have a degree of commitment to being debt free or it will not work. It is essential to manage debts carefully and get rid of them as soon as possible.

The first thing to avoid is being disturbed by the situation as this will hinder any positive action on your part. Even if you have taken out a large loan perhaps to pay off previous debts, it is imperative that you continue to pay if you want to clear the outstanding balance.

Create a budget for yourself by adding up all your income, payments and expenses which will help you check where your money is being spent plus your budget will highlight all the small, unnecessary expenses that can be eliminated. It is a fact that when you pay for goods or services using cash instead of your credit card that the spending will automatically reduce.

It is not uncommon to find people who owe lost of small debts which can be cleared by saving small amounts of money regularly in a debt relief fund. Placing restrictions on how much entertaining you do whether it is a complete stop of all restaurant meals or a dramatic reduction you will ensure your fund grows faster.

Sometimes when the debt is large, people decide to refinance their homes to help pay off their debts but this means taking on a bigger mortgage so it is best to avoid this option if possible. Before you go down this route you must think about why you want this option when there are others that can be used.

It is not uncommon to find people withdrawing cash from their credit card to make a payment, which works but just increases the amount owed. Where the situation is so bad that there are no other solutions, then bankruptcy should be considered but only after an in depth discussion with a debt counselor or a bankruptcy attorney.

Unfortunately, some people in debt avoid bankruptcy and resort to using their individual retirement account to help pay their debts but you are on a slippery slope if you take this route. There is far too much to lose with this option so you would be better advised to find alternative answers and learn debt relief methods that are more fiscally responsible.



Tonya

getrd2go asked:


looking for the best debt reducing budget that will provide debt relief quickly what debt is the best to pay off first?

Thelma

David Brown asked:


 

Majority of the credit card holders are facing a lot of problems at present, due to the rising interest rates. Credit cards have always been a source of high interest debts. Moreover, holding multiple cards and its incessant use makes it tough for the user to pay back the debts on time. So, what is the best alternative available to the debtors? In this context, credit card debt relief program can certainly assist the debtors to a larger extent.

To get started with this program, first of all one should have a proper understanding of the debts. As a first step towards getting rid of the debts, the debtor should stop using multiple credit cards. Instead, one should use the credit card way up to his/her repaying capability. This will certainly help to reduce the extent of debts.

Preparing and sticking to a monthly budget will also be of great help. The debtors should keep a track of the expenses and particular care should be taken to ensure that the expenses should not go overboard. Infact, more and more emphasis should be laid on using the debit cards. By doing so, the debtors will be able to spend only that much amount that is available.

Just in case, you are finding it tough to evaluate the financial matters or facing difficulty, you can very well take the services of experts. These experts are experienced and qualified enough to provide and suggest ways, which on implementation can help you to get rid of the debts. However, you have to strictly follow the plan to achieve the success. A slight deviation from the plan will result in further problems. These experts are also capable of negotiating with the various lenders to extend the repayment tenure or reducing the outstanding debts to a more agreeable amount.

With credit card debt relief, it definitely means an end to all the debt hassles. All that you have to do is to follow the plan and stick to it, until you get rid of all the debts.



Jo

Apurva Shree asked:


If you are looking for non profit debt relief, a number of people might tell you that you’re looking for something that doesn’t exist. Horror stories abound of companies that have pretended to be non-profit organizations and have simply made off with people’s money. However there is some good news- the good news is that there are a number of legitimate companies that offer help with credit cards debt. However, you have to be careful about who you choose.

Credit And Debt

Slipping into a cycle of debt is something that can happen to almost anyone. Some people might find it embarrassing, others may think that they have done something inexplicably wrong and it can be very debilitating to think that one doesn’t even have control over one’s own finances. The truth is that this can happen to anyone and even people with the most meticulous financial planning have been known to slip up.

The first step in combating your debt problem is to stop beating yourself up. Not only does that not achieve anything, you are wasting precious time you could use to improve your situation. Next, find out what your financial situation really is- if you find that you have some bad credit, opting for some non profit assistance or a bad credit card debt loan can help.

Know Your Non-Profits

The deal with non-profits and debt consolidation is two-sided. On one hand, there are indeed a number of legitimate companies out there who can offer you very comprehensive non profit debt relief free of charge. On the other hand, there are numerous shady outfits out there, masquerading as non-profits who ultimately land you in bigger trouble than you already are in. While getting conned when you have money is bad enough, getting scammed when you’re already in debt can really hurt.

So what can you do? When scouting out for a non-profit organization, the first thing you have to do is check with the Better Business Bureau. If you find that a number of complaints have been lodged against a particular company, then you don’t need to waste your time on it. Verify their claims- there is really more common sense in this than anything else. Remember that nobody does anything for free so if the company promises you things that seem impossible, they are probably not worth your time either. Do some research first and find out which consolidation plan will work best for you. Don’t forget that non profit debt relief always works better if you make a well-rounded effort in all areas of your life, to fight off that debt.



Floyd