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Canadian Debt Consolidation
Life throws people a number of challenges often on a daily basis and unfortunately, some of those are financial challenges. The loss of a job, an illness and many other situations can make paying off loans difficult to do. Sometimes people simply...
Collection Agency Secrets for Collecting on Bad Debt
Getting worried that one of your clients, customers or patients will never pay? Have you given up on a customer who's essentially said he won't pay? Congratulations--being stiffed by a customer or patient is a milestone in the growth of a business...
Credit Card Debt: How to Get Rid of it.
This method is simple, but requires some discipline. First, you have to stop any new spending on your cards. Second - you'll need to examine all of your spending. You'll need to know how much extra money you'll be able to put towards paying off...
Things to know in Debt settlement
If you're considering using a debt settlement or debt
consolidation service to help you get out of debt quicker and
lower your monthly payments, be sure to do your homework before
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Toss Your Credit Card Debt And Add Real Alternatives
Did you get an easy credit card in college? Or, are you someone who got one for the convenience of being able to pay without cash? Not aware of other easy ways to borrow money?
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Are You Buried in Debt?
Are you having a problem paying your bills? Are you receiving past due notices from creditors? Are most of your accounts being turned over to debt collectors? Are you worried that you might lose your home or your car?
Well, you are not alone. Many people do face a financial crises at some time in their life. The crisis can be caused by personal or family illness, losing your job or just simply overspending. It can seem overwhelming, but you can overcome this crises. Your financial situation doesn't have to go from bad to worse.
If you know somebody that is in this kind of financial situation, then you can consider these options: budgeting realistically, credit counseling from a reputable counseling organization, debt consolidation, or possibly bankruptcy. How will you know which one will work best for you? It really depends on how much debt you have and your level of discipline.
If you're out of work, how are you going to deal with your creditors?
Let's face it, you see in the headlines all the time about jobs cuts, layoffs, corporate restructuring and businesses going out of business.
If you have recently lost your job, you may be wondering how am I going to make ends meet. Money obviously is a source of stress and frustration for many people.
If you find that you cannot pay your bills on time, you should contact your creditors immediately so you can try and work out a payment plan that reduces your monthly payments. Then you can manage your money better. What you don't want to do is wait until your accounts
have been turned over to debt collection. When it is turned over to debt collection, your creditors are basically saying that they have given up on you
Nonpayment or late payments can adversely affect your credit rating and your ability to get credit in the future. Although creditors usually will consider a number factors in deciding whether or not to grant you credit, most creditors do rely heavily on your credit history. It's important to make sure your credit report is accurate. You are entitled to one free credit report each year. If you are having problems paying your bills, you definitely need to check your credit rating at least once a year even if you have arranged a more manageable monthly payment.
If you just had too many nonpayment or late payments, your credit rating will be affected adversely. If you want to buy a home in the future, even if you paid off all your debts, your credit rating may be poor and you may not be able to buy that house.
So please make sure you contact your creditors immediately if you're having problems paying your bills!
To find out more about your free credit report, please go to http://www.annualcreditreport.com
About the Author
Copyright 2005
Fern Kuhn, RN
Specializing in Diabetes
http://www.debtconsolidationconnection.info
http://www.diabetestestingcenter.com
You may reprint this article as long as you keep the links active
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| Advertisements Promising Debt Relief May Be Offering Bankruptcy |
| Cautions consumers about ads in newspaper, magazine and telephone directories that offer quick fixes for debt problems. |
| www.ftc.gov |
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| www.dri.org.uk |
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| en.wikipedia.org |
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