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Debt Consolidation Companies: Common Pitfalls to Avoid
It's difficult not to notice the incredible growth that there
has been in companies offering debt consolidation programs and
solutions over the past few years. At first, debt consolidation
companies were some of the biggest advertisers on the...
Debt Management and Consolidation
How do you know that you are in DEBT? How do you know that you are really in deep DEBT? Do you think you need DEBT MANAGEMENT or DEBT CONSOLIDATION ? This are the questions that most professionals will ask you about. If not, you will ask...
Get Debt Free
If you once have been caught in the debt trap, how do you come out of it and be debt free? We are different and each of us has our own lifestyle and our own financial state, so the way to debt elimination is different from person to person. One...
How starting a home business can help you become debt free
Did you know that it is possible for you to break out of the poverty trap and become debt free. For many people who have very bad credit ratings, such a statement would be totally out of their contemplation.
Becoming debt free is a...
Is Debt Elimination Right for You?
Debt elimination should be everyone’s goal. But, it is not. Unfortunately, many people live day to day with large debts floating above their heads. Is there any way to get out? The answer is yes. What those who are in debt need to do, though,...
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Two Ways To Debt Relief
There are many debt relief programs out there both off line and online. Sometimes it can be difficult to chose one from the other. To make a reasonable choice, you need to know
your specific debt problem for example student loan debt, credit card debt or several small loans with high interest rate, which in it's turn defines
the requirements to the debt management program
If you know this, you can find the right program for you. There are roughly two main types of debt reduction programs; Debt consolidation and debt settlement. To be honest, it is not hard to find relief for your debt.
There are some really good companies online that can help you with debt reduction and get you out of a pressing and annoying situation. Before we take a closer look at this two types of debt reduction, just know that it is easier to accumulate debt than to eliminate it. Unfortunately, it's a pretty long way to go. But if you keep patient you'll get rid of your debt problems for ever.
1. Debt consolidation
called by some a debt management loan, is a means to consolidate your debt. Especially when you currently have several small loans, you take these, whether they are credit cards or student loans, and combine them into one loan. With only one loan you only have to make one monthly payment. This is much easier to manage than several payments on several loans. Usually with this solution, the interest rate will be lower as well and you'll save money compared with the previous situation.
2.
Debt settlement
also called credit counseling or debt negotiations, are a little different form of debt reduction. The companies dealing with this kind of debt management is called debt counseling companies. Examples of such institutions can be companies like KimberlyCcredit, GoDebtFree and Lexington Law. They work with your creditors to modify and change your terms. Through such a company, you can get a lower interest rate and eliminating late fees. This might be the wisest thing to do, if you're really over your head in debt. With a debt settlement company you pay a lower total sum of money than you would otherwise.
All of these programs can be reasonable options. The difference is in the details of the programs. Your job of getting relief from your debt is first and foremost to find a debt relief program that is right for you.
About the Author: Terje Brooks Ellingsen is a writer and internet publisher. He runs the website http://www.1st-in-loan.net Terje gives advice and helps people with personal financial issues like getting rid of debt, see http://www.1st-in-loan.net/debt_help.htm and loan consolidation, see http://www.1st-in-loan.net/debt_help.htm
Source: www.isnare.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. |
| www.dri.org.uk |
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| www.imf.org |
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| Special report: debt relief | Special reports | Guardian Unlimited |
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| www.guardian.co.uk |
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| www.worldbank.org |
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| Debt relief - Wikipedia, the free encyclopedia |
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| 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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| www.globalpolicy.org |
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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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