|
Bankruptcy as a debt management solution: Why do so many of us have so much debt?
In 2004, 1,562,174 Americans sought protection from creditors through bankruptcy court - a per capita rate over ten times higher than during the worst years of the Great Depression! According to the Consumer Federation of America, in 2003 alone over...
Debt Consolidation May Be The Answer!
Debt consolidation is a means of debt relief. It allows the borrower to take out a loan which is then used to pay off debt from other loans as well as from credit cards. These products are often necessary in that they provide the ability for you to...
Learn The Credit Card Business Jargon And Stop Your Debt Cold
Credit card companies, as part of the financial industry, use a massive array of jargon. If you understand the terms you can stay on top of your credit card debt. While you can't be expected to recognize all the technical terms, some of them are...
Medical Collections True Tale: A Dental Debt Deadbeat
Medical collections are costing doctors millions. Here are the secrets of why patients don’t always pay their bills, from a real-life deadbeat. With medical collections costing doctors millions upon millions of dollars in unpaid bills and...
Settle your debts the easy way
The process of contacting creditors directly or through a third party and negotiating for a lump sum payoff of your debts is known as debt settlement .
Benefits of debt settlement
* You can reduce your principal debt amount by around 40%...
|
|
| |
|
|
|
|
|
|
The best strategy to erase credit card debt
The best strategy to erase credit card debt
Credit card debt is a growing sickness in the United States and Europe. It is very important to eliminate debt and take control of your financial health.
In the below section, I have listed the best strategy to erase credit card debt. This strategy is tried and true and often recommended by financial planners and debt consolidation firms.
In an Excel spreadsheet list all your credit cards, balance, credit card interest rate and minimum payment from your most recent credit card statement. If you are not computer savvy, you can list them on paper.
Sort the list in ascending order of interest rate so that the credit card with highest interest rate is at the top and the credit card with lowest interest rate is at the bottom.
Make a count of minimum payment of all the credit cards in the list you just created.
Now calculate how much money you can save to pay off your credit card debt and become debt free. If you cannot pay off more than the minimum payment, it is time to do some budgeting to save more and pay towards your credit cards.
Each month pay off the minimum on all your credit cards. However, on the credit card with the highest interest rate, pay the minimum plus the additional amount you have saved to pay off your credit card debt.
Continue to follow this strategy until
the credit card with highest interest rate is completely paid off. In a similar manner, work on paying off your second credit card but remember to make minimum payments on the remaining cards.
Besides the above golden strategy, you can call your credit card companies to request for a lower interest rate. Due to stiff competition, many of the credit card companies will readily agree. Lower interest rates mean you can pay off your debt much faster.
In some cases, credit card companies will not be willing to reduce your interest rate. This might be a good time to hop on the internet and do some research on credit cards and get a new low interest card. Many companies will allow you an introductory rate for your new credit card.
Ameri debt services provides debt counseling, debt consolidation and debt management to customers. Visit us at http://www.ameridebtservices.com for free debt counseling tips, free debt consolidation articles and non profit debt management services.
About the author:
"@Copyrights 2005" - Bill A Smith is a debt consolidator for Ameri debt consolidation services. Bill has over 10 years of experience in providing debt consolidation, debt counseling and debt management services to clients.
|
|
|
|
|
| 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 |
|