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Consider Consumer Counseling To Help With Debt

Consider Consumer Counseling To Help With Debt

It can be a challenge today to not spending money when others around you are driving expensive cars and living in your dream home. A result of this due to the availability of credit today is that individuals forget amidst their spending that the money they borrow on credit just be repaid, and with interest. If you are struggling to get out of debt, one of the best ways to consider a consumer counseling service.

It is not impossible for even rational individuals to be optimistic about their future ability to repay a loan. Believing that the monthly payments associated with a loan will not be a burden to repay, they take out the loan. Later, however, it may become obvious that the payments and money owing is outside their financial budget and possibilities. When the time comes that bill collectors to be calling, consumer counseling may be a good choice to assist with credit card debt settlement. Should you find yourself unable to repay your debt and handle settle debt yourself, here is some advice in choosing a good consumer counseling service.

Start your search either online or in a phone book but beware of possible scams. If the organization claims they can repair your credit in a very short time, you are dealing with a concerning company and you continue your search.

Reputable and trustworthy consumer counseling services will test you with some prerequisites before accepting you as a client. The perquisites may be different for each company, but the general requirements are a source of income and a minimum amount of unsecured debt. If you have trouble with secured debt such as a car loan or mortgage, it may be difficult for them to help you.

When you first meet with your credit counselor, be sure to have copies of all statements from your current loan or credit accounts. They will need to know the specifics of your financial situation, such as the amount owed to the creditors, the current monthly payments, and interest rates.

Thereafter, it is in the hands of the counselor. They will contact your creditors and negotiate a new monthly payment and lower interest rate. You can decide if you want to handle and submit the payments yourself or make a lump sum payment to the counseling service. If the latter is chosen, the counselor will make the payments to your creditors. Once an action plan is determined, the counselor will help you improve your general financial situation by creating a budget. A budget will help you avoid future debt and another financial situation. Today, there are even software programs to assist you in following and managing your budget. Of course, you can seek the advice of your counselor when you need it.

One last note, do not count on using your credit cards during the consumer counseling process. The service will require you to sometimes cancel the cards or stop using them until you have repaid your debt and repaired your credit.

Finding Debt Relief with Unsecured Credit Card

Finding Debt Relief with Unsecured Credit Card

Unfortunately, your bad credit is probably keeping you from getting an unsecured credit card. These are cards that are for people with non-damaged credit, simply for the fact that the credit card companies feel as though they can be trusted. Don’t beat yourself up over this, however, because the past is the past and one day soon you will be able to qualify for such a card.

Before even thinking about applying for any more credit cards, then perhaps it’s time to begin to eliminate the credit card debt that you have already. The stress that this debt relief can do for you will not only help you with your credit rating but with your physical well-being as well.

When you are all caught up on your debt management, then you’ll want to shop around for a credit card with the lowest interest rate that you can possibly find. This is good for a multitude of reasons since it saves you money on your monthly interest charges, but it also becomes quite significant when you’re in need of a loan for a couple of hundred dollars. Finding a loan with as low of an interest rate as you can get one for with a lower rate unsecured credit card would prove to be quite a feat.

As well, some of the rewards and benefits that you can receive right along with a low-interest rate can be quite pleasing to most consumers. You’ll want to figure out exactly what you want from a card and shop around. The Internet is a great place to do this shopping as a matter of fact.

One especially good card is the Chase Platinum Card because it has a 0% introductory APR for the first six months, and follows up with no annual fees. The Chase Travel card goes a step further by rewarding card users points as they use their card, which can be used for airfare, cruising, car rentals and hotel stay.

On the subject of car rental, Chase Travel will also reward you five-hundred-thousand-dollars in Worldwide Auto Travel Accident Insurance from Hertz Car Rental Discounts.

Moving onto another great card that you will enjoy is the Discover Platinum Card. This card offers a 0% Introductory APR as well, with no annual fees, and will give you up to 2% Cash Back in Bonus awards. Some can even offer up to 5% in cashback bonus rewards.

Getting Out of Debt With Credit Counseling

Getting Out of Debt With Credit Counseling

If you are deep in debt and it seems that there is no way out, there is hope. Credit card counseling and/or debt consolidation may be the best solutions to get out of debt. A credit counseling professional can help you establish a plan to fix this problem and help you learn ways to stay out.

Credit counselors will work with you to create a debt management program, which may include consolidation, and they will also educate you on how to avoid the careless spending and lax payments that landed you in debt in the first place. With the help of a credit counselor, it won’t be long before you are transformed into a responsible and reliable consumer.

When you begin a debt management program, your objective is to completely eliminate all of your debt. Therefore, you must do whatever it takes to reach this goal. So don’t be afraid to ask questions and don’t worry about appearing unknowledgeable. The credit counselor is there to help you and answer any questions you may have. So ask plenty of questions, and if you still don’t understand something, simply ask your counselor to explain again.

If your debt management program includes consolidation, be sure to ask about any conditions, such as whether you will be able to continue using your credit cards after the debt is consolidated. Oftentimes, consolidation programs stipulate that you must forfeit the cards once the debt is consolidated. This may or may not be the best decision for you. However, if you really want to resolve this issue once and for all, you may want to consider not racking up any more credit card debt.

Lastly, feel free to do some of your own research. After all, you want to make sure that you are with the right debt counseling company.

Good Money Management Is The Only Way Out Of Debt

Good Money Management Is The Only Way Out Of Debt

Establishing a budget, keeping on track with it, and keeping a record of all of your expenses is the real solution for rebuilding and repairing your credit once it has been damaged. Don’t be tempted to file for bankruptcy; you will only ruin your chances for the future. Even the solution of a debt consolidation loan will only add more and a continued debt burden. You have to pay interest on the loan, and you will just be worried about making it until it is finally paid off. The best solution is to save your way out of debt by establishing good money management skills. It is a much better idea to keep track of your expenses so you know what you are spending your money on and then you can eliminate unnecessary expenses and start to save.

A small first investment you might want to make is a software program that will assist you in budgeting and saving. By making it easier to keep track of things, this small expenditure will save you a lot in the long run. The first thing you need to do is establish a budget. A software program will ask you all the questions you need to establish a budget. By answering the questions, the program will put all of your income and expenses in the correct categories and show you what you have leftover. You can also do this on your own, by using a form where you write all of your income on one side and all of your expenses on the other.

Each week write down what you spend on each item, how much you put in your savings account or retirement fund, taxes, etc. Record your earnings and track how much you have left. If you see that each week you have nothing left to pay an essential bill, you will have to change your payment system. Each week as you pay your bills, try to make as large a payment as you can on each of your necessary bills, such as rent or mortgage, electric, water, phone, etc. Then you have to survive on what is left by cutting back on non-essentials. You may have to stop going to the movies for a while and just rent inexpensive ones from the library.

You may have to cut back on eating out. Next, examine all of your essential bills to see how you can save money there. If you start to limit the phone calls your family makes, if you make sure to turn off lights and stop wasting water, you can probably save a lot of money. Making these cutbacks and sacrifices will pay off big if you can catch up on all of your bills. You will not even remember which movies you missed while you were putting money away to pay off all of your bills.

Another way to ensure that you build a good money management skill is to make a survival budget. What is the absolute minimum you and your family need to survive? Cut every expense down to its lowest, like budget meals every night, no entertainment except whatever is free, basic water, basic T.V. cable, basic telephone. Follow this survival budget for a few months and you will be shocked at how much extra you will have to pay off your bills and debts. Certain items are important to keep up, such as health insurance and your rent or mortgage, so you don’t end up with no roof over your head or medical bills you can’t pay. But everywhere you can cut back, you should. Any savings can be applied to catch up on bills or debt.

The other strategy for good money management is to look at is your income side. Can you ask for a raise, or can you find a better-paying job, or perhaps you can find a second job? Find any way you can (any honest way, that is!) to increase your income while you cut down on your expenses, and you will repair your credit before you know it.

How Consumer Counseling Can Help You Get Out Of Debt

How Consumer Counseling Can Help You Get Out Of Debt

Even the most sensible of us end up borrowing with the idea that we will have no trouble paying back what we owe. The monthly payments that looked so easy when you took out the loan can soon become overwhelming and you may find yourself unable to keep up the payments. If you find yourself in this situation you should consider consumer credit counseling. This article will explain how credit counseling works and how to find a good consumer credit counseling company to help you manage your debt.

It is easy to understand how some people can find themselves over their heads in debt when it is so easy to obtain credit. Everyone wants to drive a nicer car and live in a nicer home, and this is usually attainable with easy to get credit. Just don’t forget that everything you borrow has to be paid back, with interest.

Most people start their search online or in the phone book. Try to avoid any company that claims they can clear your debt entirely or repair your credit history within a short time. Entirely avoid any offer of obtaining a new credit identity as this is obviously a claim of a disreputable organization.

Legitimate credit counseling companies have certain criteria that you have to meet before they will take you as a client of theirs. These criteria usually will include you have some income to work with and unsecured debt that you need help managing. Usually, credit counseling companies will not be able to help you manage secured debt such as a mortgage loan or car loan.

For your first meeting with your credit counselor, have available all your financial documents loan statements, bank statements, credit card statements, pay statements, and make a list of all your outstanding debts and the amounts of your minimum monthly payment.

The credit counselor will then begin their work by getting in touch with your creditors and trying to negotiate for you repayment amounts that you can live with. Once these amounts have been agreed upon, the consumer credit counselor will help you develop a budget that you can live with and still pay off your debt.

While you are clearing your debt through the consumer credit counseling service, it is important not to use your credit cards or take on new debt. Remember, this is designed to get your out of debt entirely.

How Debt And Bill Consolidation Work

How Debt And Bill Consolidation Work

Although you probably won’t find anyone who says that want to get heavily into debt, the reality is that many people find themselves in that situation for a variety of reasons, including taking on too many credit cards and personal loans, high medical bills, your children’s or your education expenses and just not paying close enough attention to your personal financial situation. If you find yourself in that situation and are wondering what you should do, you might want to consider a debt or bill consolidation. What is debt consolidation? It is simply that – consolidating all your debt into one payment and taking the hassle out of it so that you can become debt-free and avoid an awful lot of stress in the meantime.

So how do you get started on a bill and debt consolidation plan? The first thing you do is find out exactly how much in debt you are. To do this you will need to collect all of your account statements and write down the name of the creditor, the total amount that you owe that creditor, and the number of your monthly repayments.

The next thing you do is make up a realistic monthly budget. Go over all over your monthly expenditures such as rent or mortgage payments, utility bills, car loans, insurance payments, child care costs, grocery money, and upkeep for your car. Then add in some for miscellaneous expenses such as hair cuts and birthday gifts, things that don’t come up every day. Total it all up and that is the amount of money that it costs you every month to maintain a basic living.

The final part of organizing yourself is to subtract your monthly budget from your take-home pay. The amount left over is the amount that you have available to pay off your creditors each month. Now, this amount is likely to not be enough to make the minimum payments, which is why you need a debt and bill consolidation plan.

Now that your finances are organized and you know exactly what you can afford to pay in debt repayments each month, you need to contact each creditor and negotiate with them a lower payment amount. Most creditors are quite used to this and willing to help you out as long as you are willing to pay them what you can. Obviously, they realize that you can’t give them what you don’t have. Just be straight forward with them – you’ll be surprised at how accommodating they can be!

How To Deal With A Credit Bureau To Repair Your Credit

How To Deal With A Credit Bureau To Repair Your Credit

Good credit is crucial in today’s economy. Good credit allows you to have credit cards, obtain a car or home loan, and to take advantage of many other money-related conveniences. It is possible to live without good credit, but having a bad credit rating can affect you negatively for the rest of your life. It is crucial to deal with a credit bureau to repair your credit if you need to achieve these conveniences.

You might be surprised to know that only a handful of credit bureaus in North America hold the key to your credit rating, and therefore your financial future. These credit bureaus receive the positive and negative reports issued by your creditors and create your personal credit report and credit score based on the results. If your credit history is poor, it is important to repair your credit so that you don’t get turned down for a mortgage or even a department store credit card. In order to do this, you must first learn how to deal effectively with a credit bureau.

Begin by finding out what credit bureau has your file. This information will be on any rejection letters you may have from a declined credit application. Next, you’ll need to obtain a copy of your credit history. Remember that you are allowed, by law, to obtain a copy of your credit history if you’ve been denied credit, though some organizations might imply otherwise. You should only pay for a credit report if you want an instant copy, rather than to have one mailed to you, in which case a bureau will send you one for a fee.

It is important to remember that a credit bureau is in the business of collecting and selling information. This means that you should never provide them with any information that you are not required to by law unless you want them to use it against you. It is legally necessary for you to provide the following to get a copy of your credit report:

  1. Name
  2. Social Security Number
  3. Legal Address

The credit bureau might request copies of your social security card or your driver’s license. If they ask for a copy of your driver’s license as proof of address, it’s best to provide them with a copy of a bill or something else addressed to you instead. You should be careful when providing credit bureaus information because most own collection agencies and they will use any of the information that you provide to hassle you with the credit and collection issues that you are already trying to fix.

Examine your report closely and note any possible errors. If you have questions about a specific debt, you can mail a written request to the credit bureau that they investigate that particular debt to repair it as soon as possible. Legally, the credit bureau is required to document any discrepancies on your credit report, otherwise, if they don’t do this in 30 days, the entire item must be removed. Most of the credit repair companies out there will charge you fees to perform this service, but you can do it yourself for free with just a little bit of time and effort.

Learning to deal with credit bureaus will allow you to engage in successful credit repair without paying a credit repair company a high fee. When you educate yourself on what the legal obligations are that credit bureaus entail, in many cases, you can effectively repair your own credit just as quickly as a credit repair company.

Need more help to repair your credit score? Get some tips here!

How To Get Rid Of Your Bad Credit In Two Months

How To Get Rid Of Your Bad Credit In Two Months

You were sure that you would get the loan that you applied for, but to your surprise, a bank turned down the loan. The bank explained to you that you have bad credit and you have to get rid of it first before you can apply. Also, they consider your subprime. Subprime means that you have bad credit and a score of less than 620 on the FICO scale/rating. This however doesn’t mean that you can’t apply for loans. There are many lenders and companies who specialize in lending to sub primers.

Ways to get rid of your bad credit in two months:

You can start by checking your credit report. Many times the information that may have been entered is incorrect. If you do find the errors, write to the credit company stating the errors and the corrective action for it.

Ask for your credit scores from Trans Union, Experian, and Equifax. Thus you can know your credit score and devise measures to make it better.

Pay off your loans; even payday loans can become big if you add them up. Control the urge to borrow small, even if it is $20. Just imagine $20 a day means $600 a month.

Use cash to make your purchases; this way you can definitely lessen your credit card debts. Use only one credit card. Too many credit cards mean that you have to also pay annual fees on them. Don’t take cash against your credit cards. The rate of interest on cash loans is very steep. In fact, make payment in full for your credit card purchases. In this way, you wouldn’t have to pay for interest on interest.

Make a budget for all your expenses and then weigh it against your income. If your expenses are more than your income, cut back on the expenses. Otherwise, you will be in debt. This will then affect your credit rating. In return, you will have bad credit.

Following these simple techniques, you will be able to get rid of your bad credit in two months.

How To Tackle Your Super Bad Credit to Avoid Bankruptcy

How To Tackle Your Super Bad Credit to Avoid Bankruptcy

The more you understand about any subject, the more interesting it becomes. As you read this article you’ll find that the ways to avoid bankruptcy is certainly no exception.

Those of you who are not familiar with the latest on avoiding bankruptcy now have at least a basic understanding. But there’s more to come.

If you have bad credit and a lot of debt like most of the people in the country, it may seem that there is no hope for you. Don’t worry because there may be a light at the end of your tunnel. You might want to consider debt consolidation services to help you with your credit repair efforts. Many times this process eliminates stressful payments and helps get consumers out of debt at the same time.

Credit Repair can be an answer to a prayer for many people; particularly those who are hoping to buy their first home or a new car. Finding the right company to trust with this process may be a difficult challenge, but with the help of a professional debt counselor and a little bit of research, you should be able to find a company to represent you well. You can do this by going online and researching as many companies as you can. Get reviews and rate quotes if you can.

The next step that you have to take is to gather up all of your debt information. You can start by asking yourself some of these questions: How many credit cards do you have? How much are your minimum payments each month? Questions like these will be important information for you to share with the representative who will handle your transactions. After you find a trustworthy company and begin sharing your information, you will be quoted a monthly fee. The rest is up to the consolidation company.

You will be able to enjoy lower payments, however, (you will no longer make the payments to your creditors, but to the consolidation company) and less time in debt. Debt repair could be your answer to get out of debt without resorting to bankruptcy, which is just as beneficial. There are many debt consolidation companies in the world these days. This is mostly because so many people need to be out of debt. Most credit repair companies see this trend as an opportunity to conduct business in a thriving market. It is your responsibility as a consumer to find a company that will best represent you and your needs. Sometimes, with so many choices, this can be nearly impossible.

When choosing a company to help you repair your debt, you have to begin with research. Ask about company history and reviews. You can find these online very easily. You should also check the company’s status with the Better Business Bureau. Also, ask friends or relatives who have consolidated debt which companies they chose and why. Make sure you also ask them about the company’s policies.

Make sure you ask questions before signing on the dotted line. Getting out of debt will not be easy, but it shouldn’t ruin your credit or cost you a fortune, either. Basically, you can begin getting out of debt by being wise with your money, getting a copy of your credit report, and finding a credit repair company.

I hope that reading the above information was both enjoyable and educational for you. Your learning process to avoid bankruptcy should be ongoing–the more you understand about any subject, the more you will be able to share with others.

Want more free tips, tricks, and techniques to avoid bankruptcy? Click Here to grab more!

How You Can Remove A CCJ And Repair Your Credit History

How You Can Remove A CCJ And Repair Your Credit History

When a person is unable to pay his creditors, a civil case can be brought to the County Court in England and Wales, or the Sheriff Court in Scotland. The court can make a judgment (or a decree in Scotland) against the debtor that then remains in force until such a time as the debt is paid.

Although having a CCJ(s) on record will not rule out the ability for an individual to get credit, they have to be considered in the context of the application as a whole. The lender may view the individual in this case as someone who has been unable or unprepared to meet obligations in the past and therefore this may reflect there ability or intention to do so in the future. For this reason the importance of removing a CCJ is evident.

Most CCJs are the result of an undefended court summons. This can often happen as the defendant is not aware of the correct course of action needed to resolve the situation. In this way, the court will enter a judgment by default.

The Central Registry will then pass the information about the CCJ to the credit reference agencies. Debts to a specific creditor can be paid in full; however, the CCJ will stay on file. This is partly because a request for the removal of the CCJ has never been issued. Simply because whoever received the judgment did not know that it was necessary.

If a CCJ is set aside or reversed (This can take place by appeal or settling the outstanding arrears within one month), the courts will automatically remove the entry from the Register of County Court Judgments.

The details below are required to process the removal of a CCJ:

  • The name of the plaintiff. This will usually be the creditor
  • The Case Number. This is needed in every instance as without the case number the court will not even consider an application.
  • The original summons.
  • The name of the Court.

Getting a CCJ Removed

Firstly, you will need to obtain a current copy of your credit file. This copy can be requested via the internet, or by written request from one of the credit reference agencies – usually Experian or Equifax.

Secondly, obtain all the information about the CCJ that has been issued against you. As mentioned, this will be obtained from your credit file.

The next step is to write a letter asking the court to send all of the details they have against you regarding your CCJ.

What should I do if I have been unfairly or incorrectly issued with a CCJ?

A form known as the ‘N244’ may be requested from the County Court, free of charge. The N244 form is filled out to request the removal of an unfair or incorrect CCJ to the Courts. This form must be completed giving all the details relating the CCJ, with an explanation of why the judgment should be set aside.

Here are some common reasons why a CCJ should be set aside:

  • The full 28 days notice was not given to pay the outstanding debt.
  • An incorrect postal address was used when the summons and judgment took place
  • The summons was never received
  • The issued CCJ still appeared on the credit file even though all arrears were settled within 28 days
  • 21 days was not provided to reply to the court, due to a late summons.
  • Your name was used by another to gain credit, resulting in a CCJ
  • Out of court settlements with the plaintiff, resulting in all arrears paid
  • If you did not receive any notification of the judgment/s made against you, then you can appeal.
  • Unable to attend court, due to other circumstances
  • Summons taken out against both yourself and another person jointly and only one party received a summons

It is important to remember that even if you do have one or two CCJs, it will not stop you from being able to get a loan or mortgage. In today’s society, lenders have had to change their lending criteria in order to fit in with demand. For this reason, there are a number of specialist finance products on the market, such as no credit check loans and a CCJ remortgage. These products allow you to have up to two recent CCJs, the rate of interest you pay will be slightly higher than that of a standard loan or mortgage.