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0% APR Credit Cards: A Tool To Eliminate Debt
It is interesting to note that what started off as a marketing gimmick has now become an almost permanent part of the credit card industry in America and today 0% APR credit cards can in fact play a significant role in helping a person reduce or get...
Debt Management gives the comfort of a debt free life
Everyone borrows money from the financial market at one or the
other time to meet some urgent needs. But, at that time we don't
realise that taking various debts from different lenders may
become a burden one day. If you too are facing the...
Dental & Medical Legal Debt Collection
Every medical and dental practice has to deal with patients who do not pay. If it doesn't deal with such patients, the costs will simply be passed on to other patients--or the practice may simply suffer or fold. Yet the very real dental and medical...
How to Pay Off Your Student Loans and Reduce Your Debts
Financing a college education is one of the more expensive debts you may incur. Student loans can take years or even decades to pay off. Making late payments or missing payments all together can result in a poor credit rating and collections on your...
What is a Debt Consolidation Loan?
If your objective is to reduce interest rates and lower your monthly payments, avoid bankruptcy, consolidate your bills and have one monthly payment, or simply get out of debt the fastest way possible, then a debt consolidation loan could...
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Get out of Debt-Military Debt Relief
Don’t let the easy access of obtaining credit cards drive you in debt. Often time, people take advantage of the easy access to credit cards and run up a large total with not having any plan or money to pay it off. The interest rates are usually high making it more difficult to pay off.
Often time’s people will switch from job to job until they finally enjoy what they are doing. If they had been contributing to a 401(k), many will borrow from it or cash it out when the leave the company.
With the price of real estate on the rise, people will often times take out home-equity loans which offsets most or all of the potential rise in their wealth by more debt.
The average credit card carrying household carries more than $8,000 in credit card debt. The interest rate typically runs around 17%, which comes out to about $1400 a year in interest. Say for instance, instead of paying that interest, you invested $1400 a year earning 8% annually, you’d have almost $160,000 after 30 years.
If you are ready to tackle your debt, here are a few tips to get you started.
Get to know your debt, all of it. Know all of your balances, the interest rates of each, whether it is deductible, and if you’ll face any penalties for paying an account off early. Call your
lender and ask if you don’t know the answers, and most importantly, write everything down.
Next, prioritize your debt. Your debts can be divided into deductible and non-deductible debt. Examples of non-deductible debt, meaning you get no tax break include credit cards, car loans, and personal loans. Examples of deductible debt include home equity loans and some student loans but will depend on your income. Then rank your debts, deductible and non deductible from highest interest rate to the lowest in two separate piles.
Delete your debt. Start with your highest rate of non-deductible debt or with the smallest balance of non-deductible debt. Starting with the smallest will give you satisfaction for paying the debt off fast. Regardless, you should pay as much money as you can towards your first debt elimination target. Once your first debt is paid off, keep contributing the same amount of money to your next target. Continue with this process until all your non-deductible debt is paid off. Then target your deductible debt.
About the author:
Find more great articles at http://marriedfinances.coma great online source for finance information.
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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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