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Consolidating Your Credit Card Debt
Copyright 2005 MHG Consulting
Credit cards have revolutionized the purchasing experience since Diners Club released the first credit card in the year 1950.
The Dinners Club credit card gave consumers limited credit that, at times, even surpassed...
Debt Consolidation
There are many reasons why people get into debt - some of them self inflicted and some of them way outside of our control. Losing a job, illness or accidents, all of these can suddenly plunge one into unexpected expenditure, and often the only...
Debt Consolidation. Just lump it all together!
In a world where people use credit as much as they drink water, it is no surprise that so many people need debt consolidation loans. Debt consolidation loans sound like a good way of getting your debt cleaned up, but are they? If you need help...
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...
Innovative Form of Business Debt Management Saves Thousands
As any business owner knows, being sued can be a stressful,
time- consuming, and expensive experience. In fact, it can be
absolutely devastating for a business, leading to financial ruin
and even bankruptcy.
Add to that the public's...
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Free From Debt
Are you tried of going to the mail box and find many bills in
there waiting for taking out your check book? Have you ever
wondered if you will ever be free? Each month you pay the
minimums and although you KNOW you've got a handle on it - you
are not charging your credit card or accumulating new debts
anymore - it seems that you will be paying the minimum fees
forever.
The way you pay your debts can affect how soon you will finish
paying them off - even if you keep paying the same amount for
debt every month. Of course you might be able to get a
consolidation loan, but if you're not eligible or are not
interested then there are several other things you can do. It's
not always the easiest to figure out the mathematics, but there
are four steps to quicker debt relief.
1. Create a list: List your smallest debts first followed by
your largest high-interest debts (credit card) and then your
largest low-interest debts (Lines of credit and taxes). Plan to
pay the minimums on all debts with these goals in mind:
2. Small bills first: They may not be the highest interest, but
every bill that you are paying some interest on means you are
usually only paying minimal amounts on the principal. Multiple
debts are also a sure way to bring your spirits down. Paying off
small debts first is a quick way to start checking them off -
and freeing your mind.
3. Move the payments along: When one debt is paid add the funds
to the next debt. For example, say you're making $75 payments to
a small debt. When the debt is cleared add the $75 to the next
debt on your list. If the next debt had a minimum payment of
$100, you will now pay $175 until it is paid off. When that one
is finished, take the $175 and add it to the next payment and so
on.
4. Save the cash!: Don't forget that when your debts are cleared
you have set yourself up for a better financial future. The best
way to take advantage of your new situation is to use all the
money you were spending on debts and start investing or saving
it every month.
It is a worthwhile goal to get out of debt. With this strategy
your debts will clear faster meaning you will pay less interest,
you will see progress as you clear small debts first, and you
will not be tempted to use the funds for personal use instead of
debt repayment. Now you will see goal come sooner and teaching
yourself discipline sets you up for a brighter financial future.
About the author:
Dr. Drew Henry maintains a number of websites about Loans,
including Business
Loan Guide, California Home
Loan Secrets, and Car Loan Insider.
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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 ... |
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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 ... |
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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. ... |
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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. ... |
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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, ... |
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| Debt Relief - Global Policy Forum - Social and Economic Policy |
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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. |
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