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Bringing Debts into a Marriage
Are you a credit card junkie? Credit card debt can often be a big, deep, dark secret for someone preparing for marriage. It’s an uncomfortable subject to talk about. Do you bring it up before or after he slips the engagement ring on your finger...
Debt And Financial Optimism In The UK Continue
With £1.3 trillion pounds worth of debt in the UK, Scotland’s Citizens Advice Bureau ( http://www.cas.org.uk/ ) has welcomed a new Bill to regulate lenders and protect borrowers from creating un-repayable levels of personal debt.
Chief executive...
How to Find Your Way Out of Debt
If you are in debt over your head and wondering if you will ever find a way out, the answer is yes! Serious financial problems can make life miserable and cause a great deal of stress and worry. Many people have found themselves in the situation of...
New Mom...New Baby...New Debt??
Ah, there is nothing like being an expectant mom. Along with your expanding waistline comes the ever growing list of products for you and your new bundle of joy. Preparing for a new baby can be a costly experience, especially in the areas of...
What is Debt Consolidation?
Debt consolidation may be the answer for anyone drowning in a sea of unpaid bills. Debt consolidation lumps all of your unsecured debts including credit card bills, doctor, dentist, veterinary, and other service provider bills – any bills that are...
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Deciding To Consolidate Debt?
What is the point of consolidating debt and when should you do
it? What are some of the options for consolidating debt? At some
point in their financial lives, many people ask these questions.
If you have been pondering these thoughts, read on.
Consolidating debt means different things to different people.
To a young couple or family thinking about buying a home
consolidating debt may be necessary to lessen their debt to
income ratio. For a single person tired of writing ten or twenty
checks each month consolidating debt may be a way of making
his/her financial life more convenient and organized. A family
with college age children may consolidate debt in order to fund
a college education. Older people on the verge of retirement may
be considering debt consolidation as a way of simplifying their
lives and adjusting to a change in income. All of these
scenarios are sound reasons for investigating debt consolidation
and all require different approaches for said consolidation.
What types of debt consolidation might be used by the people in
each of the previous situations?
A couple on the verge of their first home purchase may find that
the amount they owe on their credit cards each month takes up
too large a portion of their monthly income. Sometimes lending
institutions will not approve a home loan for a buyer who does
not have a certain amount of unobligated income. In order to
free up a little income the couple may choose to consolidate
their debt. To accomplish this all of the current bills would be
paid off via a lower interest, longer term loan. Because the
loan is not costing them as much in interest and is being paid
off over a longer period of time the monthly payment would be
smaller. Thus, the proportion of debt to income would be lower.
When a person is just tired of writing a great number of checks
each month and concerned that one month a payment due might get
overlooked, he/she may choose to do
a simple debt consolidation
for the purpose of bringing all of his/her bills under one roof.
If the person has good credit this is easily achieved. Sometimes
if the debt is refinanced at a lower interest rate not only will
the person end up with a more convenient payment he/she will
also have a lower payment.
A family which owns its own home may tap the equity in that home
to pay for a child's college education. In order to do this the
home must have accumulated sufficient value to cover the cost of
the mortgage, the cost of the refinancing, the cost of the bills
to be rolled over and still generate enough cash to pay for the
child's schooling. Given the rate at which home values have
appreciated in recent years having this much equity is not
unreasonable. However, homeowners should not make their homes
piggybanks for any type of expense that comes up. Constant
cashing out of a home's equity is expensive and perhaps even
dangerous over the long run.
Persons nearing retirement age may choose to consolidate debts
in order to make life less complicated as well as to make living
less expensive. This type of debt consolidation is also done by
accessing the equity in one's home. If the mortgage is long
standing and the couple has maintained good to excellent credit
it may be that the house can be refinanced at a significantly
better interest rate while also generating cash to pay off a
substantial number of bills. Thus, as the couple enters their
retirement years they have a lower house payment and fewer bills
to pay.
The above examples illustrate just a few ways that debt
consolidation may enhance the lifestyles of modern consumers.
About the author:
If you would like to read more of my personal
articles, please feel free to visit my debt
consolidation blog!
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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 |
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 |
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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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