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Credit Card Debt Help: How to Become Credit Smart and Enjoy the American Dream
Being able to buy things on credit has allowed Americans to own
and enjoy things--often for years--without having to wait and
pay cash for them. In that way, the concept of credit has been a
boon to experiencing the American Dream. Unfortunately,...
Credit Counseling -- Why It Doesn't Work For Most Debtors
"Cut Your Payments in Half!" the headline screams. "Consolidate Your Bills into One Low Monthly Payment!"
When you see ads like this, they are often from Credit Counseling firms. In this article, I'll explain the principles behind the Credit...
Debt Help Online - How To Rebuild Your Credit By Consolidating Debt
By consolidating your debt you can rebuild your credit by making
on time payments, paying off your debts, and increasing your
cash reserves. Depending on your debt load, you can improve your
credit situation within two years, enabling to qualify...
Low Interest Debt Consolidation Loans - Getting A Low Rate
Low interest debt consolidation loans can help you pay off your
debt sooner. For the lowest rates use your home equity to secure
a loan. You can also find personal loans that will reduce your
interest payments. Otherwise, transfer your credit...
Small Business Tax Deduction - Write-Off Bad Debts
Practically every small business has receivables that it cannot obtain from clients. If your small business doesn't have any such receivables, consider yourself lucky. For those small businesses that suffer from uncollected receivables, solace can...
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How To Avoid Bankruptcy & Get Out Of Debt Faster Using Debt Negotiation!
Has credit card debt got you thinking about bankruptcy?
You're not the only one these days. Even with the new bankruptcy
laws, credit card debt continues to climb. Unfortunately for
most of us, our paychecks don't climb as quickly.
If you're on the verge of bankruptcy, you may have another
alternative.
Debt negotiation is a process where you negotiate with your
creditors to pay off your debts at a reduced amount - for
example, if you owe $12,000, you can negotiation a payoff of
$5,000. The benefit for the creditor is that they get more money
than they may have through bankruptcy, and they get the money
sooner. The benefit for you is obvious - you get out of debt
faster, and save lots of money in interest.
Where do you get the money to pay off the debt?
Take the money you would have normally used to pay your credit
card bills, put it aside, and when you accumulate enough to pay
off the debt, send in the reduced amount you agreed to.
If this sounds confusing, that's ok. It's really not.
There are many professional companies that will do all the work
for you, and charge you a percentage of the savings.
I can speak from experience (I built up a lot of debt trying to
start a sporting goods business, which didn't quite work out)
that even with the fees, this is a good deal - plus you save a
lot money by not having to pay the high interest rates on your
credit card bills.
Sure, it is a more aggressive approach to getting out of debt
than making minimum payments, using credit counseling, getting a
debt consolidation loan, or borrowing from a friend or relative.
But in the end, you'll get out of
debt faster...
And avoid bankruptcy!
If you've never heard of debt negotiation (also called debt
settlement), that's ok too, not many people have. I didn't until
I began to seriously consider bankruptcy.
One reason many people are hesitant to consider debt negotiation
is that it goes on your credit report. Sorry to tell you, but
having lots of debt (even if you pay on time), making payments
late, even credit counseling - all go on your credit report and
can negatively effect your credit. And (of course) bankruptcy is
a big negative!
In my case, getting out of debt, removing all the financial
stress, and being able to live a normal life were well worth it.
With so much debt, having good credit was meaningless anyway.
Plus, I was able to get all but one of the negative items off my
credit report (that's a topic for another discussion), and my
credit is now back to normal. In fact, I now get more credit
card offers than I can handle - and fortunately, I can now throw
them all in the trash! When money is tight, and debt is high,
there aren't many simple answers.
But if you are already considering bankruptcy, then debt
negotiation might be the right alternative to help you get out
of debt faster!
About the author:
Kris Bickell is the owner of Debt-Tips.com, a helpful site for
consumers struggling with credit card debt. For tips on getting
out of debt, repairing your credit, saving money, and making
extra money online, sign up for the free "5 Simple Steps To
Getting Out Of Debt Faster, Fixing Your Credit Problems, &
Saving Lots Of Money!" email course at:
http://www.Debt-Tips.com/. © 2005 Debt-Tips.com
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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. |
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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 ... |
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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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