Debt Reduction Tips

Debt Consolidation, credit counseling, bankruptcy...



Mar 2010
14

Debt Assistance: Avoid advice from the TV

by Kara Stefan
Posted In:  debt reduction

If you lay await at night worrying about your credit card debt, here’s a bit of advice: Don’t turn on the TV. Because that’s prime time for all the debt negotiation and settlement companies that advertise they can solve your credit card problems. In reality, some of these companies could make them a lot worse.

There are two types of debt assistance: debt counseling/management, and debt negotiation/settlement. The best advice is to seek out the services of debt counseling/management, as these agencies should be registered as a 501-C-3 non-profit agency. Read the rest...



Mar 2010
4

Does Debt Settlement Save You Money?

by debbiedragon
Posted In:  debt reduction


There is currently a lot of controversy over whether or not debt settlement works as a debt elimination strategy. Many states are considering regulating debt settlement companies as a result of an increase in consumer complaints. Several other states have already taken action to limit the damage debt settlement companies can cause for unsuspecting consumers. If you are considering debt settlement as an option to get out of high interest debt, there are some things you should know before proceeding. Here we look at questions you should be asking before you decide if debt settlement is right for your situation.
 Read the rest...



Jan 2010
23

What do to when you can't pay a bill

by Kara Stefan
Posted In:  debt reduction

It’s getting towards the end of the month and you’re short on money. It could be your mortgage, your car, or a credit card payment that’s going to get the squeeze. What do you do?

As a general rule, most lenders don’t take collections action until a payment is at least five days overdue, which allows for any mailing snafus. And in most cases, a lender is not likely to repossess your car after one missed payment. After all, he doesn’t want your car; he wants the money you owe him. 

There are two things you should know if you are ever in this situation:Read the rest...



Jan 2010
22

Old School Ways Still Save Money

by debbiedragon
Posted In:  debt reduction

Everyone is looking for new and creative ways to save money these days.   You don’t need to devise an elaborate budget that will have your family wondering if you’ve turned into Ebenezer Scrooge overnight.  Some times the best ways to save are the same things people have been doing for years - before 'frugal' was a cool word.
Here are 10 quick and painless ways to save some money right now:Read the rest...



Jan 2010
7

2010 Personal Finance Essentials: What You Need to Know

by debbiedragon
Posted In:  debt reduction
2009 will go down in the books as one of the worst global economic down turns in history. Home foreclosures and job losses are at record levels. Consumer spending is down and credit card debt is up causing a bleak economic and financial picture. A new year provides a fresh outlook. There are some positive trends and opportunities to look forward to in 2010.
 
Home Buyer Tax Credit
Read the rest...


Dec 2009
30

New Year, Old-Fashioned Way to Save in 2010 and Beyond

by debbiedragon
Posted In:  debt reduction


As kids, it seemed as though our parents and grandparents seemed to have some pretty crazy ideas for saving a few pennies. What did they do with all of thoseread bags that they just had to save? But in today’s cost-conscious climate, some of those ideas don’t sound so crazy—in fact, many of them seem to make a lot of sense.  So, take a page out of your grandma’s book and try a few of these money-saving tips. She would be proud of you.Read the rest...



Dec 2009
26

Debt Reduction Strategies For The New Year

by debbiedragon
Posted In:  debt reduction

With the start of a new year just days away, many people are vowing to change the way they manage their personal finances in coming months. If you are making financial resolutions for 2010 there are several things you can do to increase your chances of success. First and foremost, make resolutions which can be realistically achieved. This can be done by setting both short and long term financial goals which allows you to focus on each step needed to reach success. By making realistic goals you are more likely to stick to your plan versus becoming frustrated and giving up. Here are a few things you can do in the next twelve months that will improve your finances and contribute to the success of your long term financial goals.
 Read the rest...



Nov 2009
27

Bill Consolidation: A DIY Guide

by billeater
Posted In:  debt reduction

You have seen advertisements for various companies that offer to consolidate all of your monthly payments into one payment with an overall lower interest rate and payment amount.  The allure of bill consolidation is high, but many of these companies are not reputable, and even those that are will charge you handsomely for the service.  What if there was a way to achieve the same result by doing it yourself?

Well, there is a way to do it yourself, but there's no real magic. Just some good old-fashioned analysis to see how big the problem is, a plan to address the problem, and then starting the real work.  Here's some guidance on how to get started with a DIY bill consolidation project.Read the rest...



Nov 2009
18

Tips For Managing Your Money After Debt

by debbiedragon
Posted In:  debt reduction  other


The journey to debt free living is both long and difficult but there is a light at the end of the tunnel. After successfully eliminating your debt you can begin to enjoy the freedom of living a life without the constant fear and frustration that comes hand-in-hand with debt. Without the burden of debt you can begin working toward other financial goals that were unattainable when all of your income was tied up with debt payments. Consumers who are "used" to being in debt often do not know what to do with their money once the debt is finally eliminated from their lives. Here are a few money management tips for those who have recently eliminated debt from their lives.Read the rest...



Nov 2009
3

Proceed With Caution After Opting Out Of Higher Credit Card Interest Rates

by debbiedragon
Posted In:  credit cards  debt reduction


In the span of just a few years consumers have dramatically changed how they manage their personal finances. Regrettably some of these changes came too late to avoid certain financial disasters, nevertheless consumers have options moving forward that reduce the chances of repeating the same mistakes. One of the biggest challenges facing individuals today is eliminating high interest credit card debt. In many cases the balances carried on credit cards have taken years to build and will take years to pay off.
 Read the rest...

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