Debt Consolidation Financing – What Are All of Your Options?

If you have debt, it can feel like this is permanent. Fees by credit card companies often make it hard to make any sort of progress with paying off your balance. Couple this with the fact that you probably have other bills to keep up with, and it can seem like a lose-lose situation. However, consolidation is a solid way to get out of debt fast. The following are some great debt consolidation financing options to consider.

Loans are a standby consolidation tool. Here, you apply for a debt consolidation loan so that you can pay off your creditors. These loans are meant to help you get bill collectors off your back. Talk to different financial organizations and they will be able to walk you through all your loan options. For example, you can invest in a loan that lasts for a year or two, or you can commit to a loan that lasts double this time if you want to lower monthly payments.

Another debt consolidation financing option is to invest in credit cards aimed at this very purpose. Here, you can transfer balances from other cards onto this card. This can make paying off your debts easier because you can get rid of the old cards and their high interest rates and fees and can instead focus on this new card.

Each debt consolidation financing option is a reliable way to get out of debt. However, you need to make sure that you can keep up with the monthly payments. If you keep up with your payments, you debt balance will decrease, and you can get your credit rating back on track.

Once you have your debt consolidation financing, then the real work begins. The work of trying to break your bad spending habits. Unless you do that, at some point down the road, you’re going to be back in the same situation you’re in now.

If you can’t afford the new car, or that dream vacation, don’t buy them. Don’t max out your credits cards to get those things that just aren’t in your budget. Don’t put yourself and your family in the same financial predicament you’re in now.

Don’t be so hungry to buy things you don’t need and won’t be using much. Otherwise, what’s the point of even getting that debt consolidation financing now

Posted in Uncategorized | Comments Off on Debt Consolidation Financing – What Are All of Your Options?

Teaching Personal Finance – What a Credit Counselor Can Teach You

If you owe money to the credit card companies, there is a good chance that you owe more creditors than just your credit card companies. Unfortunately, debt is one of those things that often spirals out of control. If it seems if you have lost control of your finances, now is the time to seek help. That help can come from a credit counselor or a financial planner; they are experts on teaching personal finance and here is just a couple of the ways that they can help you.

Examine Your Debts: Right now, a lot of Americans who are in debt don’t know the exact total that they owe. Most of them just know that they have bills they can’t pay. By the time you figure in late fees, possibly interest rates, and more, your total can change month after month. Your counselor or personal finance advisor will help you get the correct figure. They will provide you with instructions. This often means calling up your creditors and getting the exact total or finding your very last bill that arrived in the mail.

Examine Your Current Finances: Yes, you know how much money you make each month. It is easy to determine this because all you need to do is total up your paychecks for the month. This is how much money you make, but do you really know how much money you spend? Moreover, how much money that you are spending is just being wasted on unnecessary purchases? Most of us don’t know or don’t even think about it until a credit counselor or a financial adviser pushes us to do so. They can help you summarize your current finances, see where your money is going, highlight any problems they see, and give you some suggestions.

Provide You With Motivation: As previously stated, a credit counselor or a financial adviser will help you examine your debts, the amount of money you bring in each month, the amount of money you spend, and how much is leftover to put towards paying off your debt. Most of us are actually surprised to see at this point that getting out of debt really isn’t going to be as hard as it once looked. This is the best source of motivation you can ever get. Right now, you might even be excited about what awaits you because you should have a clear plan in place thanks to your advisor or counselor who took time to go about teaching personal finance to you.

If you are in debt over your head, the best solution at this point is to obtain a financial settlement. However, you need a great deal of research before going with the first company willing to deal with your debts. Remember that it is imperative to get rid of your debt as soon as possible, since you never know what the economy will bring and when will it be too late to change anything.

Posted in Uncategorized | Comments Off on Teaching Personal Finance – What a Credit Counselor Can Teach You

Free Debt Consolidation Solutions to Fix Your Finances Now!

If I told you there are very effective free debt consolidation available to you that can help set you on the path to becoming debt free, would you be willing to listen? Read on to discover how you can fix your finances on your own with a few simple strategies that you can put into action right now!

Free Debt Consolidation For Everyone

First off, let’s put the misconceptions to rest. Free debt consolidation options are available to everyone. Not all will work or be effective for each and every case, but at least one of these methods can be employed by you right now to help you set your finances straight! Free debt consolidation is simply a general term that describes consolidation and management solutions that can be utilized by you without having to pay a third party, such as a debt consolidation company.

Low Interest and Balance Transfer Credit Card Consolidation

The most common method for do-it-yourself debt management is the balance transfer credit card method. This is also typically the most accessible method for consolidating debt. Essentially you are taking your high interest debts (credit cards, loans, etc.) and transferring those debts to a single, high-balance, low interest credit card. To do this effectively, look for promotions that offer no or very low interest for promotional periods. Often you’ll find 0% for 6-12 months or 2.99-5.99% for 12-18months or longer. Some of these offers are available for new card accounts only so you will have to apply for the account. If this is the case you will, in most cases, need at least fair to good credit. But don’t get discouraged, there are often many offers available for existing card holders. Either call your credit card company or go online to your credit card account site and look for promotions.

Free Debt Consolidation Loans

I know that loans are technically not free as you are paying interest, but that is going to be the case regardless. Here we are talking about loans from your bank, or credit union, or even home equity loans if you are a homeowner. The important key is that we are not paying a debt consolidation company to do this work for us so it is technically free debt consolidation. It’s important to seek out products that fit your budget and situation. A debt consolidation loan can be used to pay off your balances and provide you with a single balance and single monthly payment, all at a lower interest. Make sure you do your homework and only apply for a loan once you know it is right for you.

Free Debt Consolidation Rule Number One

For your free debt consolidation efforts to pay off, The most important rule to follow here is to stop using those accounts as soon as the balance transfer completes. It is easy to fall into the trap of zeroing out your balance and then charging a little here and a little there because you know there is no big balance there anymore. The problem is this adds up fast, and eventually you are much worse off than you were before. So as soon as your balance transfers complete, or your loan pays out and you have paid off your debts, put the old cards away-far, far away!

Posted in Uncategorized | Comments Off on Free Debt Consolidation Solutions to Fix Your Finances Now!

Just Because You Are Able to Get the Financing Now Doesn’t Mean a Franchise Is Right for You

Well, it looks as if we are slowly emerging from recession, and luckily there are business loans still available with very low interest rates. There are also small business loans from the Small Business Administration available, which you might partake in. Now then, just because you can get the financing to start your own small business, or perhaps a franchised outlet, doesn’t mean you should. It is quite possible we could slip into a double dip recession, and be in a less-than-adequate position in our economy sometime between now and the next 15 months.

Therefore, if you were to start your business, and we stay in a recessionary posture in our economy, you may have trouble making a profit. If you can’t make a profit, you can’t run your business at a loss forever, and you will have to file bankruptcy, and you will be unable to pay those loans back. Are you beginning to understand the real risks here? The problem with borrowing money is that you have to pay it back, and it is far too unfortunate that a good amount of our population have over-charged their credit cards, without considering the consequences that they will be paying on those cards for a long time into the future.

Because our economy appears to be very slowly recovering, not all sectors of our economy or all industries are recovering at the same rate. For instance, the real estate market isn’t doing too hot, whereas, retail sales have slowly been on the uptick. Of course all that could change too, and therefore it matters what type of franchise you buy, what industry you will be participating in, and if you have the personal perseverance to stick it out and see it through. You’re also going to need more money than merely the amount needed to purchase the franchise.

If sales are slow and not at optimum then the franchisor’s business model will not be performing at its peak either. This means that it will take longer to get to an operational profit, or retain a reasonable return on investment. Even if you talk to franchisees of the franchise system you are considering on purchasing which have reached their return on investment, it doesn’t mean you will be able to reach it as quickly. The economic times have changed. Before you go sign your name to hundreds of thousands of dollars of loans, so you can start a business of your own, and find yourself gainfully employed again, I hope you will please consider these words of wisdom and think on it.

Posted in Uncategorized | Comments Off on Just Because You Are Able to Get the Financing Now Doesn’t Mean a Franchise Is Right for You

Taking Control Of Your Personal Finances – Credit Card Consolidation Programs Can Be A Huge Help

Many Americans are taking advantage of credit card consolidation programs. They’ve found out the benefits of seeking professional help to pay off the loans owed to creditors.

If your debts are piling up and you owe debts to more than one creditor then the Credit Card Consolidation program is right for you. The program is simple. You are given a loan to pay off the smaller loans.

Why is this a viable alternative to simply ignoring the company or filing bankruptcy?

#1- You’ll avoid the negative mark that bankruptcy can leave on your credit for seven years or more.
#2- Consolidation Experts will educate you on your rights and options.
#3- You’ll be able to finally pay off your loans

There are other options. Now that you know this, bankruptcy doesn’t have to be one of them. Debt Settlement programs are taking the load off of overwhelmed individuals who have accumulated an enormous amount of debt.

These companies are experienced in debt relief and can not only act as a third party but negotiate to lower your payments and the debt you owe by up to 50%. This is the best method to use when you feel you are running out of money to pay your lenders.

Take advantage of these programs now and let the experts work for you. The federal government has come up with laws to protect you and fully support these programs. You’ll no longer have to stress over unpaid loans or put off dealing with your debt. Now you can finally be in control.

Research for yourself by going online and finding out how these programs have helped millions of Americans get back on track and how you can be helped too.

Take advantage of these programs that are there to help you out. It’s what they do and something you should definitely look into.

Posted in Uncategorized | Comments Off on Taking Control Of Your Personal Finances – Credit Card Consolidation Programs Can Be A Huge Help