|
|
|
A Simple Question We All Wonder - Are Debt Settlement Companies Scams?
Are debt settlement companies scams? It's a simple question so does it have a simple answer? Along with the genuinely helpful firms, there are plenty of operations billing themselves as legit debt settlement companies. These debt company scams prey...
Credit Card Minimum Payments Create Debt
A credit card minimum payment means that you can spend more and
pay as little back as the credit card issuer will allow you.
Sounds great in theory but it is a system that will turn out to
be your worse nightmare. If you stick to it before long...
Debt Free Living - 5 Tips To Get Out Of Debt
A few times I wonder what sort of credit system moved the global economy 200 years ago. If the intention of getting into a business is meant to 'help' fulfill the needs and wants of someone, I don't see how credit card salesmen can drove more people...
Helping Credit Ridden Individuals Recover from Debt
Rick Miller: Helping Credit Ridden Individuals Recover from Debt
Millions of individuals all around the world are in over their
heads in debt. Debt can turn an individual or their family's
life upside down. Without the proper help from...
How to Cut Credit Card Debt
Most Americans have too much credit card debt. Duh, we've all heard that
before, right? Only now its gotten a bit personal... right again? You
personally have too much credit card debt and its about to drive you crazy.
Well there IS...
|
|
| |
|
|
|
|
|
|
Credit virus Debt
Secured And Unsecured Debt. What's The Difference?
It’s easy to just think that debt is just debt, but in reality,
there are different types of loans, and it’s important to
know what which type you have.
You will need to understand the differences in order to
be a good money manager, or, if the worse happens
and you find yourself turning to credit or debt counseling,
you’ll need to understand how different types of debt
can be handled. Let’s take a look at two types of debt;
secured and unsecured loans.
Secured debt is a loan that has something attached
of value attached to it—this is called collateral.
The most common examples are car loans and mortgages.
Collateral can be cash or the item (or items) that you
borrowed in order to get. (For example, your car.)
With secured debt, if you fall behind on your payments,
the collateral can be repossessed and the lender will
sell it in order to collect the money that they are owed.
But that doesn’t always put you in the clear, in reality,
even if the collateral has been repossessed or foreclosed
on and sold, you may still remain liable for any balance
remaining until the entire amount of the loan is paid off.
Additionally, with secured debt you cannot negotiate
payments or any restructuring through credit counseling,
and oftentimes you won’t be able to discharge the debt
by filing for bankruptcy.
On the other hand, unsecured debts act totally different.
Most people associate unsecured debt with
a credit card
or a personal loan without collateral. But it can also be a
commercial debt or a medical debt.
Essentially, this type of loan is structured around a good
credit history and a personal promise to re-pay the loan.
There is no collateral on this type of debt, and the creditor
has no assurance – other than your agreement to repay
on pre-determined terms – that they will get paid.
If you fall behind on one of these debts, a lender can send
your account into collections and take legal action.
More often, they will attempt to try and work out a
reasonable debt settlement.
These debts and loans can be discharged, or restructured
in bankruptcy or through credit counseling. The bankruptcy
laws are changing.
Because of the lender’s risk factor, you will generally pay
a higher interest rate on these types of loans.
Most people have a mixture of both secured and unsecured
debts, and both should be managed with the utmost care and
concern. Many times, someone just starting to build their
credit history will have to prove themselves with a few,
small unsecured debt loans and re-payments in order to
qualify to buy a home or a car (secured debt).
But overall, the most important thing is to treat each one as it is;
a potential good mark that will improve your credit rating.
About the Author
I have written numerous articles on identity theft and credit repair.
I have a web site with inforamtion on many items.
www.nothing-but-info.com
|
|
|
|
|
| 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 |
|
| Welcome to Debt Relief International |
| Welcome to the web site of Debt Relief International. |
| www.dri.org.uk |
|
| Debt relief steps, your free guide to debt help. |
| Articles on debt relief, and credit management and repair. |
| www.debtsteps.com |
|
| Factsheet - Debt Relief Under the Heavily Indebted Poor Countries ... |
| The HIPC Initiative is a comprehensive approach to debt reduction for heavily indebted poor countries pursuing IMF- and World Bank-supported adjustment and ... |
| www.imf.org |
|
| Special report: debt relief | Special reports | Guardian Unlimited |
| February 6: A year ago the Guardian set out to track the west's promises of action for Africa on aid, trade, health and debt relief. As G8 finance ministers ... |
| www.guardian.co.uk |
|
| Debt Relief Options - Findlaw for the Public - |
| Welcome to Debt Relief Options. This section contains information about the ... To begin, select one of the Debt Relief Options topics from the list below ... |
| bankruptcy.findlaw.com |
|
| William Brewer |
| The Brewer Law Firm. William E. Brewer, Jr., Attorney at Law Board Certified Consumer Bankruptcy Specialist. 619 N. Person Street Raleigh, NC 27604 ... |
| www.debtrelief.com |
|
| Debt Relief - InCharge Debt Solutions |
| There are many ways to get out of debt, for good, and it may be easier than you think. The first step is knowing your options, the second step is taking ... |
| www.incharge.org |
|
| Economic Policy and Debt |
| May 2006, IMF And World Bank Support Cameroon’s Completion Point Under The Enhanced HIPC Initiative And The IMF Immediately Grants 100 Percent Debt Relief ... |
| www.worldbank.org |
|
| Economic Policy and Debt - The Enhanced HIPC Initiative |
| The Initiative’s debt-burden thresholds were adjusted downward, which enabled a broader group of countries to qualify for larger volumes of debt relief. ... |
| www.worldbank.org |
|
| Debt relief - Wikipedia, the free encyclopedia |
| Debt relief is the partial or total forgiveness of debt, or the slowing or stopping of debt growth, owed by individuals, corporations, or nations. ... |
| en.wikipedia.org |
|
| Debt Analyzer, Debt Reduction Software, Home Page |
| Debt Elimination at its best! Potential savings of hundreds or thousands of dollars! Build debt reduction, timed elimination or consolidation schedules. |
| www.debtanalyzer.com |
|
| Superior Debt Relief |
| We help you get rid of credit card debt much faster than you may believe possible with credit card debt settlement and negotiation tactics, providing debt ... |
| www.superiordebtrelief.com |
|
| Debt Relief - Social and Economic Policy - Global Policy Forum |
| Aid Inflows, Debt Relief Yet to Translate into Reduced Poverty (March 20, 2006) ... Fearing that the IMF could tie debt relief to economic benchmarks, ... |
| www.globalpolicy.org |
|
| Debt Relief - Global Policy Forum - Social and Economic Policy |
| Debt Relief - Global Policy Forum - Social and Economic Policy. The Debt Relief Page Has Been Moved to: ... |
| www.globalpolicy.org |
|
| BBC NEWS | Business | Q&A: African debt relief |
| BBC News looks at the progress of international debt reduction efforts, and the sticking points which continue to hamper the process. |
| news.bbc.co.uk |
|
| Debt Relief Australia - Start Reducing Debt Today! |
| Debt Relief offers Australians in debt assistance with finding the most appropriate debt relief solution. |
| www.debtrelief.com.au |
|
| Debt Consolidation Australia, Debt Relief & Bankruptcy Information |
| Specialising in debt agreements, mortgage refinancing and bankruptcy. Company profile, calculators, solutions, media releases, testimonials and existing ... |
| www.foxsymes.com.au |
|
| Oxfam - Debt and Aid - Debt Relief for Nicaragua: breaking out of ... |
| Oxfam policy paper on relationship between international debt servicing and poverty. Linked to table of contents and also zipped for download. |
| www.oxfam.org.uk |
|
| What debt relief means for Africa | csmonitor.com |
| This weekend's $40 billion debt cancellation deal could spark major improvements in the lives of the world's poorest people. |
| www.csmonitor.com |
|
|