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Managing Debt

Credit card debt for the consumer (the average person) is on the rise again. The average indebted U.S. household carries $15,762 in credit card debt*. This figure doesn’t include mortgage loans, auto loans, student loans or even personal loans. Whether you have more or less than the national average of credit card debt, any debt can become overwhelming if you don’t take care of it.   Figure Out How Much Debt You Carry It’s time to tally up what you owe. Don’t be intimidated by this step. Whether you plan on tackling your debt on your own or decide to…

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Alternatives to Bankruptcy

Bankruptcy may seem like the only option when it comes to overwhelming debt. Before you make the decision to file, make sure to check out our list of alternatives to bankruptcy.

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How to Reduce Debt

Most people have some form of debt whether they have student loans, credit card balances or a car loan. While there is nothing wrong with having some debt, the goal should be to never owe more than you can afford to repay in a timely manner. If you feel like you have overextended yourself, how can you reduce debt and keep more of your money? Take a Careful Look at Your Expenses There is a good chance that you spend money on things that you don’t really need or for which there are less expensive alternatives. For example, you could replace…

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Consolidating Credit Card Debt through Balance Transfers

From losing weight and eating healthier to saving money, spending less or paying down your credit card debt, many Americans are making a New Year’s Resolution to live a better life. While many people drift away from their New Year’s goals by mid January, we know that many others are still sticking with it and aiming to make this year better than the last. If you have made a financial resolution this year, in particular consolidating credit card debt, we have rounded up some helpful info on things to consider. While many people turn to credit card debt balance transfers,…

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Debt Consolidation Programs

This time of year, many people find themselves stuck in a financial rut. They want to buy more presents for others, but the bills keep coming and it becomes increasingly more difficult to pay every bill, or even to pay more than the minimum payment on ANY of the bills. Buying gifts becomes a dreadful experience instead of the heartwarming one that we all want to have and you begin to wonder how you are going to get out of the messy financial situation you are in. Then you begin to wonder if you are the only one worried about what…

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The Benefits of Using a Debt Management Company

For people who find themselves in overwhelming debt, lowering or eliminating their monthly outgoing payments is usually their number one priority. However, that is easier said than done. For those serious about ridding themselves of debt, utilizing the services of a debt management company may be a viable option. Before making a decision, it’s best to learn about the what a debt management program actually entails. What is a Debt Management Program? A debt management program focuses on helping people pay down their unsecured debt over a period of time, which usually ranges from 36-60 months. In this type of program, consumer’s will…

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Is Debt Settlement Right For You?

Credit is a part of life. It’s how we make our biggest purchases and some of the smaller ones. Favorable features like zero interest, rewards points and cash back also render purchasing on credit more beneficial than paying with cash. When you’re approved for a line of credit, you’re entering a binding legal agreement, an agreement the majority of consumers have every intention of upholding. Nevertheless, debt is a heavy burden that can very quickly spiral out of control. Whether due to a sudden illness, getting laid off or poor financial management, it’s not uncommon to find yourself unable to…

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Christian Debt Counseling

When you are struggling with debt, it can seem like an insurmountable problem. Collection calls are coming in all day and night, you are being harassed at work by calls demanding payment and your mailbox is full of letters warning you of court action or wage attachments if you don’t pay your bills. You may feel there is nowhere to turn. In fact, Christian debt counseling may be the answer to your debt problems.   What is Christian Debt Counseling? Christian debt counseling is similar to other types of debt counseling where the main goal is to find a way to work with…

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The Consequences of Defaulting on a Loan

Defaulting on a loan means failing to meet your obligation to repay money lent to you according to the terms of the agreement. This status and its consequences can affect borrowers of all kinds of loans and can be made worse by a variety of factors, including: Some loans are unaffected by bankruptcy You can’t just ignore the loan if you can’t afford it You can’t make loans disappear What is Defaulting? As stated above, to default on a loan means failing to adhere to the terms of repayment. Depending on the terms, this could be as simple as being late…

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Benefits of Using a Debt Management Company

It seems that debt management companies often get a bad rap, but when you look at what a debt management company can do for you, your financial situation, and your sanity, it seems that there are many more benefits to using a debt management company than many people would like you to believe.   Benefits of Using a Debt Management Company Interest rates and payments may be reduced – when you use a debt management company for help with your debts, your interest rates can be reduced, which in turn reduces your payments. Even better, instead of multiple payments, you may qualify…

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