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Bankruptcy credit card
A bankruptcy credit card is basically a card that you can get despite bad credit. If you have been in bankruptcy in the past, you are probably finding it difficult to build up your credit rating again. One of the reasons for this is that most of...
Credit Card Entrapment- The Secrets are out
Have you ever wondered why your credit card bill is so high and you can't seem to pay off the balance? Well you are not alone in this. You should be aware of a couple of trick that they use and you probably don't even pay attention to it, but you...
Home Loans – Repair Your Credit Before You Buy
Before you take out a home loan or make any major purchase, you should be aware that any prospective lender will want to take a look at your credit report. Your credit report is a record of all of your past financial dealings, and any loans, credit...
How Do You Know If Your Credit Card Agent Is the Best?
Since you are the customer, there must be a glut of credit card
agents constantly hounding you day-in, day-out. They may try to
cram all their pitches in hour long phone call marathons or
minute long infomercials and may run the gamut of...
How To Get A Credit Card No Matter How Bad Your Credit Rating
Your credit is bad. Perhaps you have a string of unpaid bills haunting your past. Maybe you declared bankruptcy within the past 10 years, or defaulted on a student loan.
All of the above can block your access to obtaining a major credit card, such...
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Lower Credit Card Debt
You can lower credit card debt through a variety of options.
Consolidating your debt into one loan can help lower interest
rates and monthly payments. If you need additional help, you can
use a debt management or debt negotiation company. Both offer
programs to reduce your debt, helping you to get a handle on
your credit.
Consolidating Credit Card Debt
The goal of consolidating credit card debt is to lower your
interest rates. With lower rates, more of your payment can go
toward paying off your principal and getting you out of debt
sooner. Closing accounts that are paid off will also help your
credit score.
A home equity loan offers the best financial benefits. Not only
will you find the lowest rates with this type of loan, but
interest payments are tax deductible. Monthly payments can also
be reduced by lengthening your loan terms.
Personal loans are also an option. With relatively low rates,
debt can be quickly paid off. You can also transfer credit card
balances to a new card that offers 0% financing.
Reducing Interest With A Debt Management Plan
Debt management plans handle your unsecured accounts and
negotiate lower rates with creditors. Most plans
will have you
pay off your accounts in less than five years. Your credit will
be temporarily lowered if creditors report delayed or lower
interest payments. But most often, in a year's time you can
apply for new credit.
Eliminating Part Of Your Debt
Debt negotiation companies can eliminate part of your debt for a
fee. There are some risks with this approach. First, your credit
will be affected, showing non-payment for seven years. Secondly,
not all creditors will reduce your debt. However, negotiating
debt may keep you from declaring bankruptcy.
Researching For The Best Deal
No matter which approach you pick to lower your credit card
debt, make sure you research several companies. Request quotes
on rates and fees, along with their terms. Be wary of companies
that offer impossibly good deals. And ask questions about the
details.
Remember too that by lowering your debt, you are saving yourself
money in the future. Improving your credit score will qualify
you for better rates for mortgages and car loans.
About the author:
View our recommended companies for Credit
Card Debt Help.
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| Drowning in debt? Trying to improve your credit score? This is the place for you. Get real world information and tips, as well as the legal low down, ... |
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