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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 Consolidation - Choose a Credit Counselor Carefully
Recently passed by Congress, the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 will require people who are filing for bankruptcy to first undergo mandatory credit counseling.
This is probably not a bad idea; after all, many...
Guide to debt consolidation: simple steps to consolidate debt
A Debt consolidation loan is a loan used to repay several other
loans. It is a single, low cost, secured loan. A UK Debt
Consolidation Loan is a low cost loan secured on your UK home.
It frees up the spare capital (or equity) in your home to...
Online Gambling Causing Credit Card Debt
It is the latest craze at the moment and everyone seems to be enjoying gambling at home with the increase of poker sites on the internet, but its not good news if you are running up debts on your credit card. I don't know about you but it seems that...
Use A Debt Checklist To See Where You Stand
A Debt Checklist allows you to look at items and areas of your financial life. You need to examine these to gauge how you stand. Even if you believe you are in good shape take a close look at these areas to be sure. Your Budget Almost...
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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 balance to a
new credit card account that offers 0% interest on transfers.
Home Equity Loans
Home equity loans offer low interest rates because they are
secured with your property, reducing the chances of you
defaulting. You can opt to cash out your equity by refinancing
or applying for a second mortgage or line of credit.
Refinancing can cost thousands in upfront fees, buy they can
offer you overall lower payments. Second mortgages and lines of
credit usually cost zero to a couple of hundred of dollars to
open, but their rates are higher than a traditional mortgage.
Personal Loans
Personal loans offered through banks and other financial lenders
can also help you consolidate debt. These types of loans are
based on your credit score and cash assets. Since these are
unsecured loans, rates are higher. However, when compared to
credit card rates, they are significantly lower.
Credit Card Transfers
You can also open a credit
card to take advantage of 0% or low
interest rates on transfer balances. These types of offers are
introductory, so expect rates to jump in six to twelve months.
In the meantime, you can start paying down debt while rates are
low. At the end of the introductory period, you can open another
account or look for a long term loan with low rates.
While transfers are attractive, they do carry risks. You should
read the terms to be aware of any fees charged for transfers.
Also, guard against racking up more debt by closing old
accounts. This will also help your credit score in the long term.
Shopping Loan Rates
No matter what type of loan you choose to use to consolidate
your debt, be sure to research rates. By comparing offers, you
can save thousands in interest charges. Most lenders post their
rates online for easy access. Be sure to read their terms as
well to make sure you don't get caught on fees.
About the author:
Carrie Reeder is the owner of www.abcloanguide.com, an
informational website about various types of loans. View her
recommended
Online Debt Consolidation companies.
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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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