|
Debt Consolidation 101
Debt consolidation occurs where one takes out a loan in order to
pay off two or more existing debts. Consolidating existing
unstructured debt into one personal loan may save on your
monthly outgoings while, at the same time, offering a...
Debtor's Ethic
Faith Fellowship Church…PO Box 1586…Broken Arrow, OK 74013…Pastor Terry Dashner…918-451-0270 “Beware of the Debtor’s Ethic” “Good deeds do not pay back grace; they borrow more grace.” John Piper Can a bad motive spoil a good deed? Should we, the...
How to Reduce your Debt in 5 Easy Steps
If you have incurred substantial personal debt, consider these options: budgeting, debt consolidation, credit counselling from a reputable organization and working with your creditors. You will need to choose a debt reduction method that will work...
Loans are not just for Christmas. Surviving the holiday debt hangover.
Christmas is coming - A time for decorations, songs,
over-eating, gift giving, visiting the family, consumer spending
and the increasing of personal debts. Bah humbug.
While most people see Christmas as a joyful period there are
many who see...
Perks and Pitfalls of Debt Consolidation
Whether you want to pursue debt consolidation in order to make a good financial situation better or to pull yourself back from the brink of bankruptcy you will want to consider the good and bad things that may result from the choices you make. ...
|
|
| |
|
|
|
|
|
|
Reduce Debt - How To Prevent Bankruptcy By Reducing And Consolidating Your Debt
You can prevent bankruptcy by consolidating your debt with the
help of a loan or debt consolidation agency to reduce your
monthly payments and quickly pay off your liability. But before
signing final paperwork, you should develop a financial plan and
research your options.
Goal Of Consolidation
The goal of consolidation is to lower your monthly payments so
you can pay off your debt and avoid bankruptcy. However,
consolidation only works if you make it part of a larger
financial plan. You have to be committed to reducing your
liability and saving for financial emergencies.
Once you have consolidated your loans, it is a good idea to
build a financial cushion of six months worth of cash reserves.
This ensures that you can pay cash for the inevitable financial
emergency and not increase your credit load.
Your next goal should be to make extra payments. The sooner you
can pay off your principal the less you will pay in interest
payments.
Types Of Debt Consolidation Loans And Programs
The two types of debt consolidation loans are mortgage loans and
personal loans. Mortgage loans are ideal since their interest is
tax deductible. However, you need to be sure that you have
enough equity to borrow against and that you can recoup the cost
of up front fees.
The other option is to use a personal loan. Personal loans are
based on your credit score and income. Personal loans typically
have lower interest rates than
credit cards, but are usually
higher than mortgages rates.
Instead of a loan, you can also use a debt consolidation
service. These companies will negotiate lower interest rates
with your creditors. There are no fees involved since these
companies are usually non profit. They also provide credit
counseling, offering financial advice and guidance.
Debt Consolidation Providers
Depending on what type of loan or program you choose, debt
consolidation providers are relatively easy to find. If you are
planning to use your home equity, then you will want to search
for a mortgage lender. Many lenders offer free quotes online for
easy comparison.
Personal loan lenders also can be found online. As with any
financing company, you need to research rates and terms to find
the best deal. Requesting a quote from a lender does not lock
you into a loan. Legitimate lenders will be more than willing to
provide this information to help you make a wise financial
choice.
You can also get connected with debt consolidation services
online. Some directory sites will help you find an agency in
your area or you can work with a national agency.
About the author:
See my recommended Debt
Consolidation Companies online. Carrie Reeder is the owner
of ABC Loan
Guide, an informational website about various types of
loans.
|
|
|
|
|
| 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 |
|
| Welcome to Debt Relief International |
| Welcome to the web site of Debt Relief International. |
| www.dri.org.uk |
|
| Debt relief steps, your free guide to debt help. |
| Articles on debt relief, and credit management and repair. |
| www.debtsteps.com |
|
| 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 |
|
| 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 |
|
| 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 |
|
| 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 |
|
| 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 |
|
| 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 |
|
| 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 |
|
| 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 |
|
| 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 |
|
| 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 |
|
| 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 |
|
| 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 |
|
| 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 |
|
| 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 |
|
| 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 |
|
| 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 |
|
| 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 |
|