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Begin Again: The Simple Truth about Getting Debt Free
Revealed by a Debt Expert's Personal & Professional Coach...
I first met Jeanna about 6 years ago when I attended a "CASH FLOW 101 Event" in the Bay Area (Northern California). She amazed me, facilitating "financial learning" for a room full...
Debt consolidation…Reduce your monthly debt payments now.
Debt consolidation is frequently becoming a very familiar term used in these consumer frenzy-spending times when everything that is available to purchase is often presented with the availability of a hire purchase agreement.
While the goods...
Guide To Free Debt Consolidation
There are innumerable people under debt who are plagued by the pressure of paying back their dues to collection agencies. This calls for consolidating their debts. Debt consolidation is a process that saves an individual from handling large debts of...
Is It Safe To Consolidate Debt Online?
Some people are motivated to consolidate debt online because they know they can save a lot of money by taking advantage of low interest rates. Others are panicking to find a quick and easy solution to help them deal with a mountain of debt.
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Reducing Debt Before It's Too Late ... How to avoid the pitfalls of creeping debt.
Reducing debt usually isn't a high priority for people until they have already gotten into trouble with overspending. Using a few basic guidelines, and debt calculations, can help you see when your debt load is getting into the danger zone.
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Debt Management Plans - Things You Must Do To Avoid Pitfalls
Most people are involved in some type of financial transaction or decision every day. Sometimes they can get way behind in their debts and financial obligations with no clear way to pay them off. Some resort to debt management plans, which can help if you are careful in setting up the plan. Do you know how to avoid the pitfalls? Learn more at http://www.debt-help-i.com/
Credit and debt issues are critical life altering realities for almost everyone. The daily decisions we make in handling the balance between the two determines our credit worthiness in the eyes of financial institutions. As we all know, if you have a bad credit rating, then borrowing funds or purchasing many items will become difficult or impossible. But what happens when you get so far in debt that you have no clear way to pay it all off? Many people resort to a debt management plan (DMP). These are payment plans structured in a way so that the borrower is better able to pay off their debts, and is agreed to by the borrower and creditors. The benefits can include lower interest rates and fee waivers.
Once you and the creditors have accepted the DMP, it is important to:
• make regular and timely payments
• always read your monthly statements to make sure your creditors are getting paid according to your plan
• contact the organization responsible for your DMP if you will be unable to make a scheduled payment, or if you discover that creditors are not being paid
If the payments are not made to your DMP and creditors on time, you could lose the progress you’ve made on paying down your debt, or the benefits of being in a DMP, including lower interest rates and fee waivers. The creditors may not forgive any more late payments and you will incur more 'late' marks on your credit report as well as more late fees, increased debt and a longer pay off period. So, once you are on a debt management plan, make sure that you are never late on any payments.
DMPs are not for everyone. You should agree on a DMP only after a certified credit counselor has spent time thoroughly reviewing your financial situation, and has offered you specific advice on managing your money. You may be able to work out a payment plan directly with your creditors. But if you decide that you need to work with a credit counselor and get additional advice
and assistance, ask questions like these to help you find the best counselor for your situation and make sure you get full and complete anwsers.
Some Important Questions to Ask When Choosing a Credit Counselor to Handle your DMP:
1. What services do you offer?
Look for an organization that offers a range of services, including budget counseling, savings and debt management classes, and counselors who are trained and certified in consumer credit, money and debt management, and budgeting. Counselors should discuss your entire financial situation with you, and help you develop a personalized plan to solve your money problems now and avoid others in the future.
2. Are you licensed to offer your services in my state?
Many states require that an organization register or obtain a license before offering credit counseling and debt management plans.
3. Do you offer free information?
4. Will I have a formal written agreement or contract with you?
5. What are the qualifications of your counselors? Are they accredited or certified by an outside organization? If so, which one? If not, how are they trained? Try to use an organization whose counselors are trained by an outside organization that is not affiliated with creditors.
6. Have other consumers been satisfied with the service that they received?
Once you’ve identified credit counseling organizations that suit your needs, check them out with your local consumer protection agency, and Better Business Bureau.
7. What are your fees? Are there set-up and/or monthly fees?
Get a detailed price quote in writing, and specifically ask whether all the fees are covered in the quote.
8. How are your employees paid? Ask them to disclose what compensation it receives from creditors, and how they are compensated.
9. What do you do to keep my personal information confidential and secure?
They should have safeguards in place to protect your privacy.
Get the information you need to make an informed decision.
About the Author
Greg Smith publishes timely information on Debt Help issues at http://www.debt-help-i.com/. Visit his web site for the latest on debt and credit issues and solutions. This article may be freely reprinted as long as the author's information and URL links remain intact.
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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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| www.imf.org |
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| Special report: debt relief | Special reports | Guardian Unlimited |
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| www.guardian.co.uk |
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| bankruptcy.findlaw.com |
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| Economic Policy and Debt |
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| www.worldbank.org |
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| Economic Policy and Debt - The Enhanced HIPC Initiative |
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| www.worldbank.org |
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| Debt relief - Wikipedia, the free encyclopedia |
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| en.wikipedia.org |
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| Debt Analyzer, Debt Reduction Software, Home Page |
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| Debt Relief - Social and Economic Policy - Global Policy Forum |
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| www.globalpolicy.org |
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| Debt Relief - Global Policy Forum - Social and Economic Policy |
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| www.globalpolicy.org |
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| BBC NEWS | Business | Q&A: African debt relief |
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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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