|
Credit Card Debt
Do you have a hard time paying your credit card bills? Starting
to get notices from waiting creditors to pay? Worried that you
might lose your properties like your house because of credit
debt? Chin up: Dealing with credit card debt is not as...
Do You Know All About The Debt Consolidation Loan That You Are Taking
I heard a friend saying that he no more feared debts because of the ease with which he can repay them through a debt consolidation loan. Is it so easy to counter debts through a debt consolidation loan? Are there any issues attached to this method...
Learn The Five Key Debt Reduction Steps You Must Take Immediately!
Step 1. The purpose of this first step is to bring you back to reality. You must know exactly how much money you owe and to whom you owe it. * Collect all of you unpaid bills and any other evidence of your outstanding debts. * List each...
Pay off debt now: 5 steps to getting your finances in order
In our world of dizzying change, nothing is more true than the time honored statement that circumstances always change. No where is this more true than with financial issues. Have you ever borrowed money, or charged up the VISA card at Christmas,...
What is Bad Debt?
We imagine that when we borrow money or owe money and fail to pay, we become a bad debt.
But when we see a bank making a profit of $10.64 billion, whilst boasting $3.28 billion of bad debts, we can be puzzled.
When the top brass of...
|
|
| |
|
|
|
|
|
|
Debt Reduction Program To Become Debt Free
Designing a debt reduction program can be the best way to
solving your financial crisis when you are in a lot of debt.
Debt and the interest rates attached to each debt makes the
balance increase at fast rate.
This is especially true when you either pay only the monthly
minimum. If you ever want to become debt free a debt reduction
program is critical to make debts disappear.
But taking out a debt reduction consolidation loan to cover the
entire amount of your debts may be out of the question.
First, you need to take some time to honestly assess your
financial position.
To create your own debt reduction program, make a list of all
the debts you have together with their minimum monthly payment.
Then make a list of all the monthly expenses you have each month.
Remember to include your utilities, grocery bills,
subscriptions, insurances plus allowances for clothing, gifts,
travel, entertainment, gas etc. Add the monthly minimum payment
for all of your existing debts to this amount and then take it
from the total amount of your income.
Any money remaining is the disposable income you can use to get
yourself out of debt. Now that you know your present financial
position, the way to reduce your debt is to make your disposable
income work best for you.
Take a look at your debts. Which ones are the smallest? Which
ones have the highest rates of interest? Which ones are for
fixed terms and which ones will go on forever if you do nothing
more than pay the minimum monthly payment?
Take out any which are fixed period debts over a pre-determined
period of
time. This usually means the interest was
pre-calculated and added to the cost of the item.
You pay the same amount every month for the 6, 12, 24 or 36
months it takes to clear the debt. Leave these debts until last
because you will gain more by using the extra income to increase
the monthly payments on less fixed debts which have variable
interest rates.
Take the debts which are for the lowest amounts and use your
disposable income to increase these monthly payments first.
Either put all of the extra money onto one debt to pay it off
quicker, or spread it out over a few of them.
Once you have paid off one debt, whether because the term of
the fixed period loan is complete, or because you have cleared
an open-ended debt such as store or credit card debt, use the
money that you save to increase the monthly payments on your
other debts.
This creates a debt reduction snowball and over time you start
to see more debts disappearing and freeing up more money to pay
the larger debts off quicker.
If you want to put yourself back in control of your debts and
overall financial situation create a personal debt reduction
program and stick to it.
Copyright © 2005 Credit-Repair-Facts.com All Rights Reserved.
About the author:
This article is supplied by http://www.credit-repair-facts.com
where you will find credit information, debt elimination
programs and informative articles that give you the knowledge to
correct your own credit and credit report. For more credit
related articles like these go to:
http://www.credit-repair-facts.com/articles_1.html
|
|
|
|
|
| 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 |
|