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3 Dangerous FDCPA (Fair Debt Collection Practices Act) Myths
Think you’ve got the FDCPA (Fair Debt Collection Practices Act) figured out? Don’t be so sure. While nothing can take the place of a lawyer’s advice, if you’ve at least overcome these three dangerous myths about the law, you may save yourself a lot...
5 Surefire Ways To Eliminate Credit Card Debt
Do you have enormous credit card debt? You are certainly not alone. According to research, the average family in the United States has $7000 in credit card debt and pays about $1000 in interest each year! Throw in a late payment or two, or an...
Can Debt Consolidation Make My Financial Position Worse?
Debt consolidation is one of the best ways of reducing debt. Your monthly payments become much lower and this will give you more disposable income. Unfortunately, debt consolidation can also make your position much worse. The reason debt...
Getting A Run For Your Money: How Do You Consolidate Credit Card Debt
Spending is such a hard habit to break, especially when people
use their credit cards. Once they get addicted, they
continuously endure the agony of spending in spite of imminent
problems that tag behind.
And when things eventually get out...
Student Debt and Student Loans
The statistics show that more and more students are graduating
from university with significant debt. The debt levels are
growing year on year and many students will be paying them off
for years after they graduate. It seems that the...
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Get rid of debt with simple steps
Someone who is not in debt appreciates a telephone ringing, because a person without excess debt does not fear creditors. A person without excess debt goes to the mailbox with general malaise, and doesn’t feel the stomach clenching fear when a handful of bills appear. Someone without a lot of debt can enjoy shopping, can handle the unexpected, and sleeps better knowing they have their ducks in a row. Life without debt is difficult to conceive or manage for many people, but a few simple steps can get anyone on their way to being debt free.
The first step towards decreasing debt is to stop creating debt. People who amass a lot of debt often get into a mindset of spending tomorrow’s money, but that only leaves today feeling pinched. Examine spending habits and be aware of what items are necessary for today, and which items are not. Getting out of old debt is easier to manage if a person is not actively creating new debt.
The next step to getting out of debt is to organize all bills and outstanding balances owed. When a person organizes their bills and has a firm grasp on what they owe, they can make better decisions about where their money goes. Also, money spent on late fees, overdraft fees, or over the balance fees is money given away in vain. A person actively trying to get out of debt will do so much more effectively if they are paying their bills on time. To aide in the organization process, a person can buy special folders or create a filing system to keep track and organize bills. A desk calendar marked with bill due dates will help ensure a person committed to getting out of debt doesn’t
miss a payment and earn additional fees or accumulated interest.
The third step towards getting out of debt is to increase monthly payments. Paying more than the minimum payment applies more money towards the balance and costs an individual less in interest over the long run. Adding even five additional dollars per payment can reduce the number of payments made of a loan or credit card. Reducing the number of payments made decreases the amount a person pays in interest and fees.
Additional debt management strategies include seeking help from a debt consolidation agency, refinancing, or applying for a loan. When a person has several high interest loans, high interest bills, or higher interest credit cards, they pay more money for the things they bought than those things were actually worth. High interest rates slow down the dent made in the principle owed, and can add years to repayment. Sometimes, one loan can be achieved at a reasonable interest rate, and can be applied to the other debts. This reduces the amount of monthly payments made, and decreases the dollars each month spent vainly on interest.
Getting out of debt can be a life goal, or it can be a goal achieved daily through little steps. Debt can be manageable, but a person must be hands-on about their financial health. A hands-on, educated approach decreases confusion and increases the speed at which debt dwindles and savings increase.
About the Author
Jakob Jelling is the founder of http://www.cashbazar.com. Visit his website for the latest on personal finance, debt elimination, budgeting, credit cards and real estate.
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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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