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Consolidate your card card debt
With the popularity of plastic money in the present age, card cards are gaining immense importance.
With the growing increase in usage of such cards the credit rates are also reaching the horizon.
Debts are thus becoming a common happening in...
Consolidate your credit card debt
With the popularity of plastic money in the present age, credit cards are gaining immense importance. With the growing increase in usage of such cards the credit rates are also reaching the horizon. Debts are thus becoming a common happening in...
Debt Relief? Is There Any Hope?
Debt relief is something that millions of people need each year. For those who are looking for answers to their questions of just how to get out of debt, there is a lot of help out there. The question is, though, can they find a way to get out...
Stop Debt Collectors Cold and get Back on Your Financial Feet
As a consumer law attorney who counsels people with debt problems, I’ve heard my share of horror stories about debt collectors. For example, a college student client was threatened that she’d be arrested if she did not pay a credit card debt, and...
Understanding Bad Credit Debt Consolidation
As long as the credit report is free of any discrepancies and presents a perfect credit history, you are a favourite with the loan providers. Loans are approved within no time. Loan providers are ready to provide more than what is desired. The...
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Debt Counseling - Presents A Systematic Method Of Clearing Debt Load
It was my wife who first introduced me to debt counseling and I
thought it would be just another agony uncle whom I would have
to deal with. However, it was not late that I was proved wrong.
It was through debt counseling that I survived the deadly debts
to recount its benefits.
Debt counseling is the advice offered through experts
on several debt related issues. Debt counseling has a
two-pronged strategy. While the advice focuses on ways to
counter the current debt load, the borrower will also be
informed of methods to prevent debts from originating. Thus,
debt counseling plays defensive as well as a preventive role.
The defensive strategy will be employed for situations where the
debt load is sufficiently large. In my case, the debt load was
substantially large. My personal savings and monthly income
would have lessened the burden a little. But, there were other
expenses too that needed to be paid through the same limited
income. By channeling my income towards debt settlement, I would
only have paved way for newer debts.
Debt counseling showed the way out. Large number of people in
the UK owe their freedom from debts to debt counseling. In fact,
the very first lesson that I learnt from debt counseling is that
I was not the only person who had debts. There were many others
who have even messier finances. The statistics are really
appalling. How come so many people, belonging to so rich a
country as the UK, be so vulnerable to debts? However, people do
incur debts. A desire to have almost every material comforts,
often pushes people to spend rashly. On most occasions, the
expenditure is without any consideration for the sources of
payment.
However, as the pressure of the creditors mounts, the very first
priority of debt counseling will be to design a way out for the
debtors. Presently, there are a number of debt elimination
options available in the UK, namely debt consolidation loans,
debt consolidation mortgages, debt consolidation through
remortgage, home equity loans and credit cards. Each option has
its own set of advantages and disadvantages, and it will be
really difficult to make a choice for one of these. Through debt
counseling, borrowers can also get help during the product
selection process.
Since I had a large debt load, the debt counselors suggested
that I take up a debt consolidation loan. They did not force the
product on me. This is one of the peculiarities of debt
counseling. The debt counselor presents an impartial view of
the
various products. However, not all debt counselors adopt a
similar view. Most of them will sell their products in the guise
of debt advice. Borrowers need to stay clear of such advisors.
As in medical sciences, second opinion is always beneficial
during selection of debt settlement products. There are a large
number of profit and non-profit agencies and individuals who
provide genuine and professional advice. Some of these, like
Independent Financial Advisors are bound by the rules laid down
by the Financial Services Authority to offer genuine advice.
The preventive role of debt counseling is more of an advisory
nature. The aim of this exercise will be to instill debt sense
in the people; though this will prove a Herculean task, given
the strange relationship of people with debts. The role may take
the form of a face-to-face meeting with an individual, or a
conference wherein a number of people are addressed at one time.
During these sessions, the debt counselor advises borrowers of
ways to deal with debts. Debt consolidation loans and debt
consolidation mortgages can at the best relieve individuals of
debts for sometime. However, if the individual does not improve
his spending habits, he will again have a large debt load.
Through preventive debt counseling, the debt counselor aims to
strike at the roots of the debt.
Some of the principal debt counseling tips include:
*Do not spend more than what you earn.
*If the expenditure is necessary, then a provision needs to be
made for its payment.
*Every individual must prepare a priority list showing the
importance of each expenditure.
*Try to generate newer sources of income.
*If a debt has been incurred, then it must be repaid with
priority.
Preventive debt counseling tips are not new to people. They may
have heard of them from their parents or recited them in moral
science classes, but all these lessons vanish while spending. A
workable debt counseling method must be practical enough to be
implemented. The borrower's finance needs to be studied
exhaustively for finding an effective solution. No debt
counseling is complete without the borrower's participation.
Consequently, borrowers need to tread safely on any debt
decision that they make.
About the author:
Alex Jonnes is associated with Easy Debt Consolidations. He is
Masters in Business Administration and writes on various finance
related topics. To view his writings, please visit www.easy-debt-co
nsolidations.co.uk
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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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| Welcome to Debt Relief International |
| Welcome to the web site of Debt Relief International. |
| www.dri.org.uk |
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| Debt relief steps, your free guide to debt help. |
| Articles on debt relief, and credit management and repair. |
| www.debtsteps.com |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| Debt Relief - InCharge Debt Solutions |
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| www.incharge.org |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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