5 Easy Steps To Do It Yourself Debt Consolidation

The whole idea of consolidating your debt is to roll all of the money that
you owe into one single secured loan. Instead of paying a large number of
debts off to debtors, each with separate rates of interest, which push your
debt up higher and higher by the month, you will be left with one manageable
payment.

A word of warning though, debt consolidation loans will need to be secured
with a substantial amount of collateral, like your house or your car. If you
don't pay the payments on a secured loan then the lender, or financial
institution can, and will take your secured assets as payment for what you
owe them.
Getting Started With Your Debt Consolidation

Step One: The first step that should be taken before you even consider
arranging a consolidation loan is to work out how much you owe, and whom you
owe it to. By working out your debts, you can come to a balance that you
will be working on paying off in the following months of your life. Be
honest with yourself don't leave any debts out.
Put Away The Credit Cards!

Step 2: No more credit! Put away your credit cards, in fact cut them up so
that you can't use them. If you are really serious about consolidating your
debt and getting it paid off you have to make a commitment to yourself that
you will not do anything else to incur more debt on yourself. Period.
Time To Go Visit A Few Banks

Step 3: Go and visit the bank. Now that you have sorted out how much you
owe, and whom you owe it to, and understand that there will be risks
involved in taking out a consolidation loan, you need to go and visit a few
financial institutions.

Never take the first offer given to you, especially with debt consolidation
loans. Don't apply for too many loans, while you are looking. This may show
up in your credit report and cause even more damage. A good idea is to order
your credit report from one of the three major credit reporting companies
and take it along to show the loan officer.

Interest rates are likely to be higher than an ordinary loan.
This is especially likely if you have done damage to your credit report from
not paying your debts, or you don't have a great deal of collateral to bring
to the table. If you are teetering on the brink of bankruptcy, expect to pay
more in interest rates and charges for a debt consolidation loan, because
you are a high risk to the lender.

With that said, shop around some financial institutions will offer you a
better deal than others, and when you are so far in debt the difference
between 12% or 18% will make all the difference.
How Much Can You really Afford?

Step 4: Work out what you can afford to pay, and how long you want to take
the loan out for. This is where budgeting is vital, work out what you can
afford to pay, and be realistic.
If you end up with repayments that are too high, you may be tempted to live
off of your credit cards for personal expenses and use your income to pay
your bills.

This is a big mistake, and will more than likely result with you in even
further debt then before. Worse still with your consolidated loan you stand
to loose everything if you can't make repayments. Make sure that the
payments are within your reach before you sign up for your consolidation
loan.
You Don't Have To Do This Alone

Step 5: Get advice. Unless you are a financial whiz, and if you were then
you wouldn't be in debt anyway, you need sound advice on how to manage your
current situation. Maybe you could use a professional's help to find a
consolidation loan that isn't too risky, because of inflated interest rates.

Is A Debt Consolidation Company Right For You?

Never be too proud to ask for help, debt consolidation companies will often
give people in serious trouble with debt, a free consultation, and if you
need it, they can work with you, and teach you how to manage your debt.

Not all consolidation companies have your best interests at heart, and you
should be wary of those who are asking for large amounts of money from you,
or urge you to make donations.

A reputable councilor will advise you on the best way to manage your debt,
and have access to free educational sources and workshops. After all,
ignorance is never bliss when it comes to your financial situation.

You don't have to rely on a debt counselor to do everything for you. You can
do this yourself. By going for a free consultation, a counselor can put you
in touch with learning material and put your situation into perspective for
you. A counseling session will usually last and hour, and after that you are
given the choice to book another appointment if you want to.

About The Author: Liz Roberts is a loan consultant & a freelance writer for
http://EzCreditRepairSolutions.com Which specializes in credit repair tips &
helping people improve thier credit. For more articles on do it yourself
credit repair please visit
http://www.ezcreditrepairsolutions.com/DIYcreditrepair.html

The Advantages Of Debt Consolidation

If you're going through a financial crisis and do not know how to clear your
debts, then debt consolidation is your safest bet. Debt consolidation can
free you from the anxiety of dealing with unpaid bills, debt collectors and
even bankruptcy.
It can radically transform your credit rating, enabling you to lead a
stress-free life. It involves consolidating all your debts and paying them
through one single monthly payment. Even the interest charged is calculated
on the single consolidated amount. Multiple debt payments increase the
chances of missing a payment, which in turn can adversely affect your credit
score. There are no quick fix solutions to debt problems.

What Debt Consolidation can do for you?

Debt consolidation can prove to be a blessing when your finances start going
haywire. Managing debts can be a tedious task, but with debt consolidation
this task gets simplified.
Debt consolidation makes it easier for you to pay several debts, by
eliminating the steep interest rates. Mortgage companies, banks and
creditors prefer to help you to hold on to your property and gradually get
back what is owed to them. This enables you to maintain an unscathed credit
rating in the bargain. Improving your credit will take time, but it will
surely be worth the effort.

Managing and staying within a budget is quite often an ordeal.
However, debt consolidation provides you with the option to create a budget
that helps you to manage your finances better.
Debt consolidation lowers the interest rates and helps to extend the term of
loan.

How a Debt Consolidation company will benefit you?

Attempting debt consolidation on your own can be a daunting task, depending
on the amount of debt incurred. Fortunately, there are a number of debt
consolidation companies eager to help. These companies design a payment plan
based on your credit report. Debt consolidation companies analyze your
financial status and then contact the creditors or the indebted companies to
negotiate and try to lessen the rate of interest.
In this way, you end up making just one payment, with one interest rate.

All your debts are combined into a single payment and then on the basis of
your income and basic monthly expenses, they design a budget. Most often,
the different charges connected with the debts, like late fees and increased
interest rates are either reduced or totally omitted. This helps in
diminishing the debt amount considerably. Most debt consolidation companies
provide free consultancy. However, if you enroll in any one of their
programs, the charges are reasonable. Nevertheless, it is advisable to
conduct a thorough research on the company, before signing up for a program.

If you adhere to the designed plan and make your regular monthly payments,
debt consolidation will definitely make your credit report look better. You
could begin by opening up your local phone directory or logging on to the
net, to identify a good debt consolidation company. Dealing with debt, with
the help of a debt consolidation program, leads to financial freedom sooner.
It enables you to pay back your debts, as your income permits and by a
single payment.

About The Author: Joe Kenny writes for the UK personal finance sites
http://www.ukpersonalloanstore.co.uk and also http://www.cardguide.co.uk

How To Get The Best Graduate Loan

If you have recently finished university, getting started in the 'real
world' can be tough if you don't have the funds to start on your chosen
career path. If you have dreams but don't have the cash to follow them, then
you should look at getting a graduate loan to help you out whilst you find
your feet. Here are some hints and tips about how to go about getting a
graduate loan and how such a loan could help you.

What are graduate loans?

In essence, graduate loans are just a form of unsecured personal loans. They
are for people who have recently finished university and want to get ahead
in their career or for any other purpose. Graduate loans usually consist of
a lump sum of around £1000 to £25,000 and are repayable over six months to
ten years.

What are the advantages?

Although graduate loans are basically unsecured personal loans, because they
are for people starting out in their careers, lenders often offer better
rates. The interest rate will be lower than regular personal loans, and the
amount you can borrow will usually be greater than you could normally
secure.
However, graduate loans are still based upon your credit rating and so rates
may vary depending on your status and current income.

Deferred payment

Another advantage of graduate loans is that they sometimes offer deferred
payment options, both at the start and at various points throughout the
loan. This means you can delay your payments for a number of months in order
to get your finances in order. Of course, doing this still means you will be
charged interest, and so will end up paying back more.
However, it can be useful if money is tight or you want time to sort things
out before you begin repaying the loan.

Charges and costs

Although typical APRs are low, there are other charges to consider when
taking out a graduate loan. For instance, missing payments can be expensive
with late fees of anything up to £40 for a missed payment. Also, if you want
the money within 24 hours of applying you might have to pay a fee of around
£50 or more for the privilege. However, graduate loan charges are fairly
similar to those of any other personal loan. Just make sure that you read
the terms and conditions before applying.

What can I use the loan for?

What you use the loan for is up to you, but usually graduate loans are used
to pay off credit card debts from university and to help start you off in
your chosen career. This might be to buy the right smart clothes for your
job, or to pay to move to a new city, or for travel expenses. Getting
everything you need to start your career can be expensive, especially if you
already are short of cash because of university debt. Getting a graduate
loan will help you to sort out your finances and put you in a position to
get what you need to move up in the world.

About The Author: Peter Kenny is a writer for http://thriftyscot.co.uk
Please visit us at http://www.loanwize.co.uk and
http://www.thriftyscot.co.uk/Loans/

Personal Debt - A Quick Guide

The growing level of personal debt is fast becoming a serious social
problem, or so the experts are saying. The causes of such debt are manifold
and can be caused by various difficult life circumstances. For most people,
being in debt of some sort is just a way of life. But it is possible to
become clear of debt; and a good way to start is by learning how to manage
on whatever income you have.

If you do happen to be in debt, the two best types of debt to have are home
equity loans and mortgages. The usual options for those who have large
amounts of debt are either debt consolidation or to think about going
bankrupt. Bankruptcy is very often the result of medical problems, losing a
job, or sometimes a marriage breakdown, which results in the accumulation of
debt. About 20% of folk in debt are being treated for depression and similar
ailments from their doctor, which shows what a stressful experience it can
be.

Be on your guard, there are many companies out there who promise a quick fix
to all your financial problems. But be very careful, some of them may charge
high fees and fail to deliver on their promises. With a lot of personal debt
problems, the hardest part can be admitting to the fact that you actually
have a problem. To avoid running into problems in the first place, try to
educate yourself as much as possible about debt and the damage it can wreak
on your financial health.

A recent report has stated that American credit card debt is estimated to
stand at around $785 billion, which averages out at about $7500 for each
household. Another recent survey of 1500 consumers carried out by another
company, said 71% of people asked said debt is causing them some level of
distress.

To summarize: My advice would be to try and start making some improvements
right away, although you must realize that setting yourself free from debt
might not turn out to be a quick or necessarily easy process.

About The Author: James Hunaban is the owner of http://debt.jims-info.com/
and http://www.debt-advice-online.net/ sites dedicated to Debt advice.

What Are The Benefits Of A Cash Advance Loan?

Cash advance or payday loans are one of the quickest ways to get hold of
money when you are short of funds. They are predominantly used to cover your
expenses until your next payday, when you pay back the loan in full. If you
find yourself short at the end of the month and need cash fast, then you
should look at getting a cash advance loan. Here are some tips about the
benefits of a cash advance loan.

What is a cash advance loan?

A cash advance loan is a short-term loan that is meant for people who need
cash quickly due to a temporary shortage of funds. Usually, you can get hold
of a cash advance or pay day loan within a few hours of applying. You are
simply required to be in regular employment and fill out a few bank details.
You can borrow anything up to about £500 depending on your needs and job
circumstances.

No credit checks

One of the major advantages of cash advance loans is that no credit checks
are required for you to get hold of the loan. All you have to do is provide
details of your employer and you can get hold of the loan. This makes the
application process extremely fast and helps you to get the money when you
need it most.

Great for emergencies

If you have trouble getting hold of other loans or credit cards and have an
emergency situation that requires money, there might not be time to find the
funds elsewhere. A cash advance loan gives you the opportunity to get hold
of the money you need quickly and at a relatively low cost.

Costs of cash advance loans

Although cash advance loans are relatively cheap if you pay back the loan
quickly, you are still paying for the convenience of being able to get money
quickly with very little checks. This means that you will pay a percentage
of the amount you borrow as a fee, usually around 10%. If you pay back the
loan when you next get paid at the end of the month, then this will be all
you have to pay. However, if you can’t pay this back, then you will be
charged again and again until you do. This could mean that in just 6 weeks
you will have been charged £90 on a loan of just £300. This can lead you to
get into a vicious circle where each month you have to get a cash advance
loan just to stay afloat.

What are the alternatives?

The alternatives to cash advance loans are limited, especially if you don’t
have a credit card or a family member who can lend you the money. Although
they can be expensive, if you use cash advance loans wisely for emergency
situations and special circumstances, you will find them a great way to get
hold of much needed cash at short notice without the usual credit checks and
long approval processes.

About The Author: Peter Kenny is a writer for The Thrifty Scot, please visit
us at http://www.loanwize.co.uk and http://www.thriftyscot.co.uk/Loans/

Payments Are Lowered When You Choose To Consolidate Debt

There are lots of ways to reduce the way in which an individual pays their
debt. Some of these methods include debt management, declaring bankruptcy,
bill consolidation, debt forgiveness, debt payoff, and debt settlement.
Individuals who are trying to reduce their debt burden will need to consider
their options in light of their situation; for many, bad credit debt
consolidation will be the best choice.

Most people in debt find themselves there due to poor planning in terms of
spending on credit cards. Credit card companies make their money through the
interest rates they charge on purchases; these rates are often quite high
and when the consumer finds himself unable to make a payment the interest
charges, late payment fees and pother penalties which are injured add up so
quickly that soon an individual will find themselves in a credit quagmire.
This scenario is an ideal time to make the decision to debt consolidate.

The basic premise behind credit card debt consolidation is simple. An
individual takes all of the balances owing on the various credit cards held
and transfers them to one lender, with the idea that the interest rates paid
will be lower than the amount charged by all the previous bills combined.
One way to accomplish this is to take an advance on the introductory rates
offered by another credit card which generally include a much lower interest
rate and paying the money back using that formula. Beware, though; once the
introductory rate has expired, your interest rates may again soar.

Another way to consolidate credit bills is to take out a secured loan. These
loans are procured by putting up a secure asset such as a house or property
against the amount of the loan. Once the loan is gained, the borrower can
pay off the higher debt owed to the credit card companies and begin saving
money by paying the lower interest rate of the loan. The money saved can be
used to make bigger payments, which will also serve to reduce the money that
is paid.

Remember that bad credit reflects very poorly on an individuals ability to
get ahead in life, and sometimes even to maintain a standard of living. It
is important to repair any black marks on your credit record as quickly as
possible.

In addition to debt consolidation, people who find themselves in need of
credit repair may want to consider the services offered by companies who
offer consolidation loans. These services will help to gain some more peace
of mind for the individual as the collection agencies cease calling about
outstanding amounts and there is a little more money left over after the
debt payment has been made. Gaining the consolidation will also put an
individual in contact with a financial expert who can assist in finding ways
to overcome bad spending habits.
Remember that although debt and bill consolidation is an easy and usually
safe way to regain peace of mind, it is up to the individual to make sure
that they do not repeat the mistakes that necessitated the proceedings in
the first place.

About The Author: Barry Brokhard is writing at large for
http://www.creditenio.com , an online site on debt consolidate and bill
consolidation. His articles on bad credit debt consolidation can be
encountered on http://www.creditenio.com/baddebt.html as well as other web
sites.

Using A Company For Credit Consolidation

If you have found yourself over your head with money and in need of credit
repair, you may choose to go ahead and apply for credit counseling.
Companies that offer this service will set individuals up with a payment
plan to reduce their debt until it is paid off through methods such as
credit consolidation.
While these services may prove invaluable in restoring your financial
integrity and gaining back a measure of control over your life, it is
imperative that you apply for these services through an accredited,
professional agency. There are many companies offering these services and
you must choose the one best suited to your needs. Make sure that any
companies you are looking into are accredited by a third party; that is,
their services are recognized and endorsed by a second organization
(non-affiliated!) that recognizes their high standards.

The Council on Accreditation and of Services for Families and Children,
Inc., is probably the most well-known of the large number of organizations
which debt counseling companies can be recognized by. Accreditation by the
COA means that the agency is guaranteed to abide by the high standards set
in the areas of volunteer Board governance, service delivery, fiscal
integrity, and counselor certification. It is important to note that as a
reliable accreditation organization, the COA does turn companies down for
accreditation if the standards they set are not met by the company.

Another organization which is vital to the process of debt reduction
business is the National Foundation for Credit Counselling. Debt
consolidation companies that are members of the NFCC also are required to
conform to very high standards.
These standards apply both to individual counselors and to the business as a
whole. Counselors who work for these businesses must undergo exacting tests
and training in order to be certified.

Debt consolidation companies who offer a credit loan and other means of
reducing debt must adhere to several standards in order to receive
accreditation. They must agree to have annual audits done on operating and
trust accounts,a s well as meeting all the requirements that are stated by
the Federal Trade Commission. Any clients who use the business must receive
a quarterly statement from the company at the very least, and clients must
file detailed reports about their situation, including the cause of their
debt and written plans of action.

The COA goes even further when they accredit an organization.
In order to receive recognition from the COA, businesses must have
counselors who are certified by the NFCC and have minimum fee structures in
place for their clients. The COA is also committed to meeting the needs of
specific minorities and the fair treatment of creditors.

About The Author: Concentrating on the topic of credit consolidation, Eric
Slarkowski published principally for http://www.creditenio.com . From his
reports like http://www.creditenio.com/councel.html ,the author proofed his
knowledge on themes dealing with credit counceling.

Using A Debt Consolidation Service

If you find yourself in bad debt, then you might be considering enroling in
a program for debt counselling. There are companies that offer this type of
service as part of their debt consolidation work. In order to determine if
these services are the best option for your situation, it is important that
you understand what they are and how they work. The form of debt
consolidation that is used most often is the debt consolidation loan. These
loans are used to replace the numerous loans and debts that consumers have
accumulated by giving the client a large sum of money from which the
outstanding amounts can be paid off. Once the loan has been used to pay off
unsecured debts, the client begins to pay back the loan itself.

Debt consolidation services operate by making the payment to the myraid
creditors on your behalf out of the loan that they give you. Instead of
multiple monthly payments, you will only have to pay one bill to one
company. The service will usually find a payment plan that best suits your
needs, whether it is monthly, weekly, or over a fortnight period. The loan
means that you will have a lower monthly payment and a longer time period in
which to repay it.

Where a lot of problem with debt occurs is when people are being paid
monthly and they find that they simply do not have enough money at the end
of the month. A loan can help mitigate this problem as it can be paid on a
weekly basis. The length of the repayment term can also be negotiated with
the service and can be from one year up to several years. Although monthly
payment installmenst will be lower the longer the period is, it is important
to remember that the accrued interest each year may mean that you end up
paying more than you would have without a loan or with higher payments.

Often the businesses that offer consumer debt counseling and consolidation
services will ask if the client would prefer a variable interest rate or a
fixed interest rate. Variable rates mean that the client will be able to
make extra payments at any time without incurring any penalties. Most people
will go for this option as it offers a chance to pay out from under the debt
sooner and people find that they can find teh money to do so. Fixed rates,
on the other hand, mean that if you want to pay off the debt early you may
be penalized by the company.
Obviously, the best option for most people is the variable rate option,
under which they can determine how quickly their debt is paid off, lahtough
the interest rates incurred may be higher.

About The Author: Barry Brokhard very often publishes news on areas related
to business debt and credit repair. Through his reports (such as
http://www.creditenio.com/counselling.html on debt counselling ) he
established his deep knowledge on the topic.

Understanding And Taking Advantage Of Home Equity Loans

The term "equity" may send you looking for a dictionary to learn what it
means. If you are like most people, then you have probably heard the term
used frequently on television thanks to a very hot housing market over the
past couple of years. The following will clarify the term for you, and if
you are a home owner, may even teach you about a loan option available to
you that you didn't even know existed.

What is Equity?

Equity is the amount of something less any debt. In the case of real estate,
for example, the equity in your house is the value of your house minus what
you have left to pay on your mortgage.
If your home is worth $200,000 and you owe $50,000 on your mortgage, then
your house's equity totals $150,000.

A home equity loan allows you to take out a loan based on the equity you've
amassed in your property. Many people take advantage of this option in order
to remodel their home, take a vacation, payoff credit card debt, or even
purchase a new car.

If you own a home and are just learning about this option it probably seems
very appealing. If you decide a home equity loan is for you then you will
need to contact a lender who offers this type of loan. However, it is
important that you make sure and shop around. Get a minimum of three quotes
from different lenders in order to find the best deal. Shopping for a home
equity loan is not much different than shopping for a car or expensive
appliance. Financial institutions compete for business. Give yours to the
one with the best offer.

The Benefit of Home Equity Loans

Many home equity loans are offered with low interest rates.
This is because when you take out a home equity loan your home is used as
collateral. The lender sees this as low risk because if you default on the
loan, the lender can sell your house and recoup most, if not all, of the
loan made to you.

Credit card debt is the biggest reason many people take out a home equity
loan. Credit cards charge interest rates that can be as high as 21%, while
home equity loans charge a rate that can be as low as 4%. For a family with
several thousand of dollars in credit card debt this translates into high
payments each month, especially if the debt is spread over more than one
credit card. A home equity loan offers the opportunity to combine the debt
and repay it using the proceeds of the loan, which in turn will save the
borrower a significant amount of money in interest charges.

Yet others may take out a home equity loan to cover unforeseen circumstances
that arise, such as job loss or illness. A home equity loan can help lessen
the crunch of overwhelming medical bills, as well as allow you or a loved
one to take the time off work necessary to recover without the worry of
financial strain.

If you've worked hard to build equity in your home and you find yourself in
a financial pinch, a home equity loan can be a great help. However, maybe
you want to remodel your house and improve its value even more, or maybe
you're looking to buy that new Mercedes without having that $800 per month
car payment.
Whatever your reason, if you are a homeowner with a significant amount of
equity in your house, feel assured that the years of mortgage payments you
have made have paid off.

About The Author: Read more Finance related articles at:
http://www.myfinance-magazine.com

How to get the best credit card?

Different people have different needs. Depending on who you are and your
circumstances, the best credit card deal for you will vary. I will take you
through the things you should be looking for, but for the best current deals
I suggest you check Money Savings Expert regularly
(http://www.moneysavingexpert.com).

Credit cards allow you to spend a certain amount of money at an interest
rate that will be charged every month. The spending amount that is available
to you can be seen differently. Some see it as an additional amount to
spend, some see it as a ‘risk-free' borrowing opportunity. Credit card
spending is not a ‘free' spending opportunity, as you will need to pay this
money back. This money does not work like a loan, as the amount available to
you is not all cash. However, it can be treated as a ‘loan' and this concept
will be explained later.

Other very important concepts that have to be understood before getting a
credit card, is 0% offers. There are two kinds of 0% offers: on purchases
and on balance transfers.
The first one allows you to spend the money provided to you by the credit
card without paying any interest for a certain amount of time. So, for
example, if the credit card gives you a limit of £500 for three months, then
you can spend £500 against this credit card and not be charged interest for
the first three months since the credit card was opened. However, once this
period of time expires, you will be charged the credit card interest rate.
This interest differs depending on the credit card, so if you intend to pay
this interest, then you ought to look for the lowest interest rate
available. Paying interest can be avoided, unless you have already overspent
too much and are using credit cards to pay off other credit card interest.
In this case you should call some of the debt consolidation companies and
try to get some your credit card debt written off. Another reason why you
might be in the position of paying interest is because you forgot when your
‘0% free time' ended. If this is the case, you will be informed about this
with your first bank statement. Transfer your balance to a different bank or
pay the debt off and avoid any further interest payments.

For those of you who don't have interest payments, you can take advantage of
the 0% purchasing and make some money.
You need a good credit history record to make this work and you also need to
be disciplined. The easiest method is to do all of your normal spending
against the credit card, while putting the money that is coming in into an
interest-earning savings account. For example, if your credit card company
lets you borrow £2,000, and you have £1,000 coming in as a salary every
month, then put the £1,000 into a savings account and do all of your
purchasing with a credit card. There are a few things to watch out
for: credit card companies will charge you for cash withdrawals; your cash
limit is much lower then the full available credit; and choose a savings
account from which you can withdraw easily. At the end of the 0% purchase
period, you will need to return all the money that you have spent against
your credit card. You should have that amount available in the savings
account by then, plus interest.
The interest gained is your earnings for this transaction.
You can earn even more if you chose a credit card with a cashback deal. This
deal will pay you interest on all of your purchases made with the card.
However, you should remember, that this is a money-making technique, rather
then a ‘spend more' opportunity. There is a more complicated trick of making
money from credit cards, details of which are outlined by Money Saving
Expert (2006).

If you are making money from the credit cards, there is no need for you to
get card protection insurance, as you should have enough money to pay off
the credit card debt at any time. At the end of the 0% purchasing period,
you can also transfer the balance to a different card provider.
This is known as 0% balance transfer, but you will be charged a fee for
these transactions, usually around 2%.
However, these fees vary, so you need to check the conditions. There are a
few things to watch out for: the credit limit offered by your bank also
includes your purchases. For example, if the new credit card offers you a
£2,000 limit, with 0% balance transfer for 12 months and 0% on purchases for
three months, and you have transferred £1,500 from your old credit card, you
only have £500 to spend on this credit card. The second thing to watch out
for is your credit score. "Most lenders' scoring systems aren't
sophisticated enough to detect that you're playing this free-cash game. Yet
multiple applications, especially at the same time, coupled with high
outstanding debts, even at 0%, will diminish your ability to get competitive
credit, so the most important thing is to spread card applications out"
(Money Savings Expert, 2006).

However, if you are in the position where you are already fighting the
interest payments, as has been mentioned before, the best thing to do is to
call debt consolidation experts. In any circumstances it is best to pay off
the most expensive credit and store cards first (i.e the ones that charge
the highest interest rates). Furthermore, avoid opening any new credit cards
to pay off the debt. Instead transfer your high-interest debt to lower
interest rate credit cards. For example, if your credit card interest rate
is 16%, while your store card rate is 25% per month, transfer the store card
balance over to the credit card.

Whatever your circumstances, when you do open a new credit card always look
for the longest 0% balance transfer and 0% purchase period, lowest transfer
fee and interest rate charged afterwards. The limit offered to you will not
only depend on your salary and credit rating, but also on the company that
you go with.

Finally, do not forget – don't play the credit card game if you cannot
control it or have a high debt already.

References

Money Savings Experts 2006 "Card Trick" [Available from]:
http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid
1076883546,34894 (Accessed on: 10/11/06)

Money Savings Experts 2006 "Card Card Shuffle" [Available
from]:
http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid
1102335753,51771 (Accessed on: 10/11/06)

Money Savings Experts 2006 "Credit Card Newbie MoneySavers Guide" [Available
from]:
http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid
1103212597,43859, (Accessed on: 10/11/06)

Copyright © 2006 Verena Veneeva

----------------------------------------------------
This article was written by Verena Veneeva professional writer working for
http://www.coursework4you.co.uk You are free to reprint this article;
however should you do so you must place a hyperlink to
http://www.coursework4you.co.uk

Bankruptcy - A Quick Guide

So, what is bankruptcy? I hear you ask. Bankruptcy is the legally stated
inability of a person or organization to pay monies to their creditors. It
is a process designed to eliminate part or all of an amassed debt and to
provide relief to the person who has serious financial problems.

Bankruptcy is a serious issue that will change the way you are dealt with by
services in the financial sector for a long time after you've been
discharged. It is a major decision that must only be taken after a lot of
consideration. When a bankruptcy is initiated, the result is out of the
control of the person involved. Did you know that bankruptcy is recognised
as one of the top life-changing negative events that we experience in our
lifetimes. Also you may not realize that going bankrupt is a fact of life
for many American citizens. Life post bankruptcy is about how you deal with
the various issues you face as you recover.

Whether you choose to go bankrupt is a very personal decision.
There are numerous ways to file bankruptcy for example through an attorney
assisted filing, or by using online bankruptcy services or by a personal
filing. Another thing I should mention is that congress recently passed a
law that will make it harder for certain people to file bankruptcy, but it
is still possible.

There can be lots of reasons a person chooses to file bankruptcy, hopefully
they have thought it through. People with not enough assets or income are
still able to file a Chapter 7 bankruptcy, which will eliminate their debts
entirely after particular assets are forfeited. The fact is you should only
file for bankruptcy when you have made every effort to repay your debts, but
can see no other alternative.

Most folk will have a look at debt consolidation, credit repair firms, or
debt management companies first. If none of these avenues solve your debt
problems, then you will have to consider bankruptcy.

About The Author: James Hunaban is the owner of -
http://bankruptcy.jims-info.com/ - a site dedicated to Bankruptcy
information.

Where To Go For Debt Consolidation

It is one thing to know that you need to go on a debt consolidation plan,
but what exactly is this, and where can you go for information?

Often you will not want to ask friends, relatives or colleagues about a debt
consolidation program because you will not want them to know that your
finances are in such a mess. However, there is a lot of information out
there to help you find what you need without having to ask people you know
questions that can make you feel embarrassed.

The internet is probably the main place that you will find a wealth of
information on debt consolidation. If you go into a regular search program
and just type in 'debt consolidation'
you will be rewarded with more information than you can even take in. Some
of the information you get will be from companies that are in business to
consolidate debt and help people, others will be from consumer forums that
give advice about where to go for help, and still others may be from the
creditors that realize that people get into trouble with too much debt and
want to steer their customers in the right direction.

Spend some time and familiarize yourself with all this information. Read the
testimonials on the websites and read what others have to say elsewhere as
well. Then make the decision that you feel is right for you.

After that you can contact a few debt consolidation companies and see what
they have to offer you and what they charge for their services. Some charge
a small fee while others are heavily subsidized by creditors so that they
can offer their services free of charge. Many also offer other services such
as money management counseling and budgeting. Talk to a few and find the one
that you are most comfortable dealing with and that have a program best
suited to your individual needs.

The most important part of this process is actually taking action and doing
something about your situation. It is very easy to sit back and try to
pretend that everything is under control, when in reality everything is
unraveling and you are becoming more and more uncomfortable with your
financial situation.

Whatever you decide to do, you should do it soon and get things under
control. So do your research, organize your finances and contact a debt
consolidation company to help you out.

About The Author: George Davidsberg is writing mostly for
http://www.creditenio.com , an online site about debt loans and consumer
debt repair. Through his publications (for instance
http://www.creditenio.com/debtrelief.html on debt relief consolidation ) he
expressed his know-how on the topic.

Resisting The Credit Card Urge

Whether you are trying to get out of debt, or stay out of debt, temptation
can be your biggest enemy. Many people get into debt, only to get right back
in within two years. The temptation is having what you want, when you want
it. However, there are ways you can afford to live without that urge and
keep your credit in check.and they aren't hard either!

Only get what you need

Look at your cards and evaluate what you use each one of them for. You may
have a few department store credit cards, and a few cards that you may get
bonuses for such as air miles or Disney points. You don't need those!! The
department store cards, while most offer you a discount several times a
year, often come with one of the steepest interest rates you will ever see.
The trick about the rewards cards is that you can't get the rewards unless
you pay off the credit in full! So if you buy two thousand dollars worth of
junk to get enough air miles to fly to Vegas, you'd better have two thousand
bucks in cash to pay that off so you can actually go! So if you are going to
have credit cards, just have what is absolutely necessary for emergencies,
maybe just one good card with a decent spending limit and low interest rate.

Cut them up!

If you are swearing not to use the cards, then cut them up! If they have a
balance on them, write your card numbers down so you can continue to pay
them off, if not call and cancel them.
That way, the next time you see something you really want, you won't be
tempted to dig that credit card out of its hiding place and charging more
money to it.

Carry Cash

When you go to the grocery store, the drug store, or even out to the bars,
only carry cash and an id. If you don't have your card with you, you can't
spend on it. This also serves as a very good budgeting tool. When you go out
for a night of drinking with your friends say you are only going to spend a
certain amount. Take that amount out of the atm, and when you run out of
money, you are done partying for the night. You may be less tempted to get
those expensive mixed drinks and stick to beer, when you only have a few
bucks left!

About The Author: Visit Debt Sanity to view our http://www.debtsanity.com
online. Also, visit Debt Sanity for help finding Credit Card Debt
Consolidation Services.

Social Pressure: A Cause Of Credit Card Debt

There are many reasons why people go into debt. Some say it is because of
unexpected expenses, others say it is just simply too expensive to live
these days. However, one of the most common reasons people sight for getting
into debt, is the need to feel like they are keeping up with everyone else.
Social pressure in other words, leads many people to unnecessarily spend
money on things that they don't really need so they can feel like they fit
in. It is an age old cycle with devastating consequences.

Socializing your money

All around us, people are spending money. Everyone has that friend who
always wants to pick up the tab for dinner or after work drinks. Some feel
that people do this just to be nice, others feel that people do this to show
off money. Ultimately it causes others to feel that they need to do the
same. It is the same thing with vacations, cars, clothing, and pretty much
every other material thing in life; every time you think you have what you
want, someone upstages you. "Keeping up with the Jones's," is in fact a very
real problem. However, people don't often stop and think how the Jones's are
actually affording all that they have. Do they have a lot of money? Or do
they just put in on credit cards like many of us do? If that is the case,
all we are doing is trying to keep up with the Jones's debt, a game which
should be left alone.

Shift your thinking

Instead of getting jealous every time your neighbor gets a new set of golf
clubs, think about how much you would pay in interest for those clubs. In
fact, maybe he is doing the same thing. New stuff doesn't sound nearly as
good, when you consider how much you are actually paying for it when you
charge it to a credit card. Instead, save up for big purchases, they will be
much more rewarding in the long run. While you are retired, living a life of
leisure, your neighbor is probably still working to pay off all of those
toys he put on credit cards.

About The Author: Visit Debt Sanity to view our http://www.debtsanity.com
online. Also, visit Debt Sanity for more information on
http://www.debtsanity.com/debt_management_tips.shtml

Consolidating Debt - Investing In Debt Management

John Dewey had quoted that a person's money had more value than their
credit. However, today's creditors, like banks, do not share the same view.
A good credit file report history is essential for obtaining personal loans.
However, the inability to repay personal loans causes people to avoid calls
from debt collectors and to miraculously pretend to forget any debts owed to
their creditors.

The resulting fact is that all your banking, financial, purchasing, credit
and store card, and other credit history is reported to credit bureaus by
your creditors and recorded on your credit file. This file is designed to
assist creditors, like banks, to evaluate your credit history and any risk
you may pose in regards to repayments.

Bad credit is not a dead end street, and you can repair and rebuild it in
time with the proper management of your finances.
However, one or more bad credit reports on your file will have you black
listed by the banks, destroy your credit score, and stop you from investing
in something you want, like a car.

A creditor's negative credit report takes up to 7 years before it is removed
from your credit file. However, you still need at least one year of good
credit reporting after that before you can start getting credit or personal
loans again. To avoid waiting 7 years for the item you want, like a car,
even though you may have a very good income and professional status,
consider a problem free, loan for those with bad credit.
Simply, apply to consolidate debt, your debts.

A debt management loan for those with bad credit does have a higher rate
than normal personal loans. However, such a loan focuses on your current
situation and regular and steady employment, whilst ignoring your past
credit report history.

You benefit from promptly fixing your credit report history and credit
score, and you can start to rebuild your life. You have the opportunity to
work towards buying a home or negotiating a lower interest rate on your
credit credit cards.

If you make your payments when they are due, the bad credit history personal
loan will work for you. Without this you cannot benefit from any major
purchases you wish to make, like buying a car. This loan will work if you
make it work.

Again, bad credit report history is fixable and not the end of the line for
you. Most people have experienced bad credit at least one or more times in
their life. Now is the time to rebuild and create your positive credit
future by considering the benefits to you by using a bad credit history,
personal loan and the workable interest rates they provide.

About The Author: Jack Blacksmith published essentially for
http://www.debtania.com , an online site with topics around managing money
and finance. His writings on personal loan to consolidate debt are found on
http://www.debtania.com/personalloan.html in addition to other web sites.

When You're Considering A Home Equity Loan

The average American has about $10,000 worth of credit card debt. Consider
the high costs of daily living that can be attributed to children, food,
healthcare, high gas prices plus the extras, and it's quite easy to see why
many Americans are struggling. Many people have turned to their most
valuable asset, their home, in order to get out of debt and to get back on
track. Home equity loans have helped many individuals do just that.

A home equity loan allows the homeowner to take out the equity in their home
in one lump sum. The loan must be paid back after a set period of time at a
fixed interest rate. Payments must be made every month. This type of loan is
so attractive because it allows the borrower to secure a big amount of cash
at a low interest rate. Home equity loans can be a very good way to pay off
debts, make home improvements, secure a big purchase or simply cash out.

Another great advantage of home equity loans is that the interest one pays
on the first $100,000 is tax deductible. This is in contrast to credit cards
or other unsecured debts, where you get absolutely no tax benefit.

It is important to note that a home equity loan is a secured loan. It uses
ones' home as collateral. This means that if an individual fails to repay
the loan, their home will be repossessed. It is for this reason that anyone
contemplating a home equity loan be absolutely sure that they can re-pay the
loan. If they later find they cannot, not only will their house be lost, but
any equity as well.

Home equity loans can be a good option for individuals needing to borrow
money in order to pay off credit card debt, pay for college tuition or make
home improvements. This type of loan allows for a big cash out at a low
interest rate with tax benefits. However, home equity loans are not without
their risks. Because this type of loan uses ones' home as collateral, it is
absolutely imperative that anyone who chooses to use this type of loan is
able to repay it.

About The Author: For more information on getting better Mortgage Rates and
great money-saving
http://www.lenoxnationalmortgage.com/navigation/index/Second-Mortgage.html
tips, and resources, visit http://www.lenoxnationalmortgage.com

Options To Consolidate Credit Card Debt

Consolidate Credit Card Debt

When managing your existing credit cards seems overwhelming, one effective
way to ease both the financial and emotional burden of the cards is to
consider the option to consolidate credit card debt. There are several ways
to consolidate credit card debt, and there are many benefits that arise from
the choice to consolidate credit card debt.

First, what does it mean to consolidate credit card debt? One way to
consolidate credit card debt is to take out a new personal loan and use the
proceeds to pay down your existing credit cards. Another way to consolidate
credit card debt is to perform a balance transfer; this involves applying
for a new credit card which will allow you to transfer all the balances from
your existing cards onto this one new card.

Both of these methods to consolidate credit card debt involve opening an
additional unsecured credit account. Another alternative to consolidate
credit card debt is to look into borrowing against your home equity. One way
to do this is to take out a Home Equity Line of Credit (HELOC), which is
credit line against the equity in your home. You would then use the proceeds
of this to pay down all of your credit cards. Another way to take advantage
of the equity appreciation in your home to consolidate credit card debt is
to refinance your existing mortgage. As part of this refinance, you would
use some of the proceeds to pay off your existing credit cards. This type of
refinance is often called a debt consolidation refinance - you are
consolidating both your old mortgage and your existing credit cards into one
new mortgage.

Now that you understand how to consolidate credit card debt, it is important
to understand the benefits of this strategy.

.Lower Interest Rate: Perhaps the most significant benefit that results when
you consolidate credit card debt is that the new account that you are
opening will carry a lower interest rate than the rates on the credit cards
that you are paying off.
This means that it will cost you less over time to pay off your debt. If
your credit is strong enough, you may even qualify for a 0% balance
transfer, which means that you will not have to pay interest charges on your
debt for a set period of time.
Moreover, a secured loan (e.g. mortgage refinance, HELOC, etc.) will
generally have a lower interest rate than your existing credit cards.

.Faster Repayment Period: Along with saving money over the long term by
lowering your interest rate, you will also more than likely be offered a
lower monthly payment. This may be very attractive given your current
financial situation. However, if you are able to maintain your present
monthly payment amount after you consolidate credit card debt, you will be
able to pay off the new balance much more quickly than you would have with
the old credit cards.

.Ease of One Bill: Another very important benefit that comes with choosing
to consolidate credit card debt is the simplicity of having one monthly bill
that comes with the new account that you have opened. With multiple credit
cards you are receiving multiple bills, more than likely with different
payment due dates throughout the month. Not only is this difficult to keep
track of, it also increases the likelihood that you will miss a payment and
end up paying late fees and incurring higher interest rates. It is easy to
see how one monthly bill can lower your stress level considerably!

These are just some of the many attractive reasons to consolidate credit
card debt. Be sure to examine all of the financing options available to you
before deciding on the right one. You may be eligible for a loan or credit
card with very low interest rate relative to what you are paying.

About The Author: Brad Stroh is currently co-CEO of Freedom Financial
Network and http://www.Bills.com. If you would like more of Brad's
http://www.Bills.com/sitemap/, please visit the Bills.com information on
http://www.Bills.com/creditsolutions/

Don't Get Stranded Without Cash! Find A Payday Advance Fast!

You're getting into your car one day and you get on the freeway. Traffic is
slow and you don't have the patience to wait. Suddenly you realize that
you're running low on gas and you don't have the gas to get you to work and
back. Not only are you loosing gas every time you stay in one place but you
don't have any money to pay for it!

Don't let this happen to you. It's good to be on top of the ball earlier
than expected some times. It's good to have extra money or emergency money
for occasions just as that. Don't have the money? Maybe you should get a no
fax payday loan!

Pay day loans are effective enough to help you in situations when you need
them. Think about it. They're everywhere in the United States. Not only are
they in local cities but also faxless pay day loans can be granted to you by
phone. Now it's become so big that you can be granted a quick loan over the
internet! Not only is it better for you to sit at home and relax while you
look for one of these payday loans, you may also be given the opportunity to
look at the APR, interest, fees and much more. So don't let things like not
having money for gas get in the way of life. Do something to fix it. And pay
day loans are a quick way of getting out of a jam.

Well, what if you have bad credit. Let's take it a step further and say you
have no credit what so ever and have no collateral to fork over for a payday
advance. Some people have no collateral to begin with. No problem! With pay
day loans you don't need any credit to be granted a loan. "But, you ask,
what about collateral?" We also don't accept collateral.

To be granted a payday advance loan you must be of the at least age 18 to
qualify for a loan. Also you must be a United States citizen with a job for
at least 4 months of work.

Does it sound too good to be true? Just take a look at some of the lending
companies some times they charge high interest or hidden fees. So try and
avoid the headache and get your quick cash loan now!

About The Author: The author is one of the top experts in the
http://www.200cash.com industry today. He has spent last several years
studying the online payday advance business. He has developed the single
best online faxless payday loans service available. This service can be
accessed at www.200cash.com, home of 200CASH.COM, INC.

Need Help To Manage Debt Better? Bill Consolidation Loans Tips And Advice

Debt is something that no one wants to deal with and most people try to
avoid. However, many people fall into debt because of situations that they
can't control and others fall into debt because of bad decisions. Once you
are in debt, trying to get out can be an endless circle of paying just
enough to cover the interest and never getting ahead.

Some fall into the avoidance trap, hoping that if they ignore their debtors
long enough they'll go away, but that doesn't happen in the real world. The
best thing to do is to deal with it head on. Bill consolidation loans may be
the answer to your debt problems.

When you have multiple debts it can be very easy to find yourself paying
more than you can afford and hardly covering the interest charges. The
higher your debt, the higher the amount of interest that you are paying. If
you are paying several credit card bills, the interest you are paying may be
more than you can even handle in a monthly payment. Bill consolidation loans
can lower your payments and ensure that the bulk of your payment is going
towards what you actually owe as opposed to interest. The hundreds of
dollars you are paying every month can be reduced significantly and allow
you to start breathing easier.

Bill consolidation loans come with their own interest rates but if you do
some research you can find one with a low interest rate that will benefit
you the most. You can start by making inquiries at your local banks. A bank
that you've done business with for many years may be able to work out a good
deal for you.

But don't stop there. Go online and you'll find many loan and banking
organizations that specialize in bill consolidation loans. You can arrange
everything online with a professional who will take all of you income and
assets into account and work out a plan for you that will help you get out
of debt.
Bill consolidation loans can be arranged safely and securely online if you
do your research and make sure you are dealing with a reputable company.

Bill consolidation loans are more common today than ever and loan agencies
have to be competitive to get your business. You have many options to choose
from and you should take some time to look over all of them carefully.
You'll want to find a company that is able to give you the best deal,
allowing you to have more expendable income and helping you to pay off your
debt in a quick and less painful manner.

About The Author: Thomas B. Stevenson provides readers with up-to-date
commentaries, articles, and reviews for finance, investment as well as other
information.

Back To School Cash Blues? Try A No Fax Payday Advance Loan!

Kids are going off to school and you've paid everything off for them. Now
you have no money and you're looking for some one who will accept your bad
credit and or collateral. You search and search but cant find any one who
will lend you money for the things you need to take care of. Instead of
asking the bank if you can borrow money, come to a pay day loan company on
line.

But How Do Payday Loans Work Exactly?

How exactly does a pay day loan work? Well fist off see it as a small
advance on your check. Pay day loans lends you money till the day of your
check. Then you pay the payday loans back. It's that simple!

Bad credit? No collateral? Don't worry! Pay day loans doesn't except
collateral or look into your credit history unless other wise stated on the
sites. Most likely you won't find a pay day loan company that does such a
thing. Also your credit is confidential between you and the lender. So you
don't have to worry about some one trying to steel your identity from you.

Does Setting Up the Loan Account Take a Long Time?

Seeing as how most people don't have the time to go out to a branch for a
fast pay loan or are too skeptical, getting financed by phone online is a
more sound option. With the APR clearly stated on the each pay day loan site
you have the opportunity and advantage of finding a great cash money loan.
So don't go finding any one. All will finance but most will charge heavy
payday advance fees.

Don't get suckered into thinking that what it said on the page isn't exactly
what is being done. If you have questions, ask the lender who will be more
than willing to offer some help in answering your questions about a cash
advance loan and why no faxing required is the best way to go.

Is it Easy To Qualify?

Qualifications are simple. You must have a job and above age 18. You must
also have a social security number and a bank account so the lender can send
it straight to the account.

So don't waste time with going out and spending money you don't have on gas,
parking, or time waiting in line or by phone.
Simply go on line and see for your self what benefits you will be getting
from a payday advance loan.

About The Author: The author is one of the top experts in the
http://www.200cash.com industry today. He has spent last several years
studying the online payday advance business. He has developed the single
best online faxless payday loans service available. This service can be
accessed at www.200cash.com, home of 200CASH.COM, INC.

In What Order Should You Pay Back Loans?: Or, When Do I Pay Back My Car?

If you're like most Americans, you have quite a few bills to pay. A car
loan, credit cards, maybe even a mortgage. If you have extra cash, when you
should pay it back?

Credit Cards First

If you have a lot of loans, the first rule of thumb is to pay back the
higher interest loan first. This means that first of all, you should never
get a payday loan or cash advance on your paycheck. These loans can lead to
exorbitant rates of interest, and should always be repaid first.

However, for many people, the highest-interest debt that they owe is a
credit card debt. This should be paid back before you put any extra money on
your car payments, student debt, or mortgage. Although many people carry a
balance on their credit cards, the best thing to do is to avoid carrying a
balance, or to pay as much as you can each month. This will reduce the
amount of money that you are spending each month on just giving the credit
card companies money.

Car Loans, Personal Loans, Renovation Loans, Student Loans

Once you have paid off your credit card debt, what do you with extra money
now? Again, start with your highest interest debt.
This means comparing the financing rate on your car loan with the interest
rates on your other loans.

Consolidation

If you have a lot of loans, you might be able to consolidate them,
especially if you are a student. Visit
http://www.theguideto-studentloans.com/student_loan_consolidation/
The Guide to Student Loans for information on how to consolidate your loans.
If you consolidate them you put them all at one interest rate and one
monthly payment. Remember: lowering your monthly payment isn't always the
best choice. You want to have the lowest interest rate possible to save you
money in the long term. If you choose to consolidate, the answer becomes
simple, you put the money on the consolidated loan that you have.

Mortgages

Mortgages are one of the least-taxed loans that there are. This means that
there is no rush to pay off your entire mortgage instantly. However,
whenever possible, do put extra money on your mortgage payment. Even if you
only put an extra $500 in the first year, that will save you more than $500
in interest.
Make a goal to overpay your mortgage, but only slightly. Your other,
higher-interest loans are more important to pay off first.

Savings

Although getting all of your loans paid off might seem like a good thing,
you need to remember to save for the future too.
Make monthly payments into a retirement plan (perhaps a 401k), and pay
yourself first. Once you have paid your savings, and then paid your monthly
payments on debts, you will know how much money you have left to spend.

About The Author: Andrew Dillan is the editor of
http://www.theguideto-carloans.com/the_truth_about_0_apr_financing
The Guide to Car Loans. If you are looking for a car loan, this site has
information about getting the lowest rate.

Debt Counselling Is Never Free

On hearing the word free, many people immediately close their ears to what
comes next and jump on the offer made. When you are searching for a way to
get out of a lot of debt, it pays to avoid your old habits and look deeper
into a matter when the word free is uttered. One way to go about this is to
find out exactly what is free in the offer. Those opting for debt
counselling services, for example, should keep in mind that no service is
ever free. Instead, it is some of the aspects of the process that are free.
One example is the idea of the free debt consolidation quote.

These quotes often come about in the process of consumer debt counseling.
One of the first steps in this process is research, and a quick look on the
Internet will demonstrate that there are plenty of companies offering free
quotes. Because of the abundance, it is advisable to apply for a few of
these to make sure that you can find the best deal. Remember that if the
search is registered and forwarded to your credit card that you might
recieve a mark on your credit history, so you will want to apply to discrete
companies and possibly limit the number you apply for if you have a poor
credit history.

IN order to receive the quote you will need to fill in forms that clarify
certain information, including your personal contact infromation such as
phone number and address as well as the amounts of your outstanding debts
and who the money is owed to. Once this information has been submitted, the
company with whom you applied will assess the application and determine if
you should be contacted for a discussion. SOme companies will use this
opportunity to pitch a hard sell as to why you should use their particular
loan; remember that you are still in the decision making process and that
there is no obligation to use the company at this time. The free quote
should give you an idea of which of the comapnies you short listed will fit
in with the plans you have for your financial future.

As far as free debt consolidation goes, there are a number of source
available. THere are many non-profit debt counseling operations that have
websites where they make their information available to the public. Many of
these sites will offer sound advice on avoiding shady lenders who offer
great deals on loans as well as pointing out options beyond taking out a
consolidation loan. Remember to check the website to see if there are any
advertisments, especially from financial institutions who are using the
organization to further their own profits. When free advice is also
sponsored by a certain company, it is a pretty safe bet that the person
checking the advice is being led towards a specific goal that is in the best
interest of the sponsor rather than the client.

The Internet is a great tool for exploring the free aspect of debt
reduction, as there are many different sites available both for quotes and
for advice. Remember that shopping carefully is the key, and that you should
compare as many compannies as you can. Further, avoid any companies that
claim to offer a free loan, because these in fact are never free.

About The Author: Kenneth Morris is writing primarily for
http://www.creditenio.com , a web publication on business debt and credit
repair. From his writings such as http://www.creditenio.com/counselling.html
,the author improved his knowledge on information relating to debt
counselling.

Watch Out For Bad Apples Who Offer Consumer Debt Counseling

Some people may wonder about the point of having a non-profit organization
such as those that provide credit counsling. After all, everyone wants
something, it is hard to believe that organization exist in order just to
help people.

If you are skeptical about the altruistic motives behind a company that is
set up to help consumers with credit card debt settlement through methods
such as consumer debt counseling, it might be useful to be informed of the
benefits offered these companies for holding the non-profit title.

First of all, having the non-profit lable exempts these companies from
federal taxes, even though they exist in order to help people settle credit
card debt. In addition, they are usually exempt from several state taxes,
which means that they save thousands of dollars every year just by being
non-profit.
The label also means that many of these companies are eligible to receive
governmental grants and private grants as well each year.

Creditors will also tend to look upon non-profit organizations positively as
this status is mandatory in order to initiate Fair Share contributions.
Finally, non-profit status will also allow companies to avoid consumer
protection laws in some states, which increases their ability to make
profits. It should come as no surprise that major credit counseling
companies proudly display their status as non-profits for all to see. Many
of these companies, however, use this label as a way to trick potential
customers in and accomplish their real goal, which of course is maximizing
their profits.

Although this is true of several credit agencies, it is not the case for all
and there is legitimate help out there for consumers who are seeking to
reduce their debt through these services. One of the first things to look
for when determining whether such a company is legit is to find out if it is
accredited through the National Foundation for Credit Counseling or the
Association of Independent Consumer Credit Counseling Agencies. The Better
Business Bureau is of course another way to determine the kind of services
the company offers, and if they have done so in a consistently honest way.

Good credit counseling agencies are a necessity for debtors, and individuals
must keep this in mind. The agencies help debtors to create debt management
plans and to get their financial house in order before disaster strikes.
They also carry clout with creditors and can therefore help to lower
payments and interest rates, as well as eliminating late fees and finance
charges. Many companies will also help debtors by calling off collection
agencies and other organizations that try to get the money out of the
debtor. Remember when you are looking for a company that can help with debt
management that you have to be very careful in what you settle for.

About The Author: Focusing on the area of consumer counceling, Eric
Slarkowski pens primarily for http://www.creditenio.com .
You can find his writings over at
http://www.creditenio.com/ccsettlement.html and various other sources for
credit card debt settlement tips.

How To Apply For Debt Counselling

Once an individual has determined that he or she is in troube in terms of
debt, that is, the expenditures per month exceed the monthly income, it is
time to go about setting a course of action to right the situation before
disaster results. Most debtors will embark on either an official or
unofficial debt consolidation program that could include any or all of the
following elements: debt counselling, debt management, or consolidation
loans. Individuals should keep in mind that as taking out a loan to pay off
the creditors is just another form of debt, it is the least desirable of
these options. Instead, the first step in a program would be to make a
monthly budget that takes into account expenditures such as food, utilities,
car payments, mortgage payments, and insurance payments. All of these
expenditures have priority as they are essential to life and must be taken
care of first. After determining how much money each month is needed for
these bills, debtors will need to determine how much they can afford to put
towards those outstanding bills. If individuals show enough initiative in
these cases and report their plan to a creditor, the odds are that they may
accept the plan as is and the debtor will not have to resort to more
stringent measures of formal debt consolidation.

Formal debt processes should be avoided for the consumer for the simple fact
that, even if the measure is a relatively burden free process such as debt
counselling, there is a good chance that your creditors will find out that
you have applied for credit repair measures. In order to receive effective
consumer debt counseling, an individual must disclose information about
finances and debts and these reports will cause a negative score on credit,
affecting future applications. Again, though, there are some creditors that
may see the application as a sign of individual initiative in terms of
paying them back and therefore may still be willing to extend an individual
credit once the current situation is resolved.

The very last resort for any individual debtor is taking out a loan in order
to conslidate their bills. The worst case scenario is taking out a secured
loan, where the individual puts up collateral such as a house. ALthough a
second mortgage seems appealling due to the fact that individuals receive a
large hunk of cash quickly, the fact is that if an applicant cannot pay
their debts, they stand to lose absolutely everything. Individuals must
really think about how they came to this spot in the first place; is it
really worth a house to pay off the bills that were incured going out to eat
or on home entertainment suystems? If an individual must opt for a loan,
they should make sure it is unsecured.

When ti comes to debt consolidation and alleviation, there are a few main
parts. The first part comes in recognizing that the situation needs a
solution, and looking into options.Next, teh money and means to pay off
creditors must be found. Finally, individuals must make sure that they see
how the sitatuion occurred in the first place and take steps towards
avoiding similar mistakes in the future. Individuals who find themselves in
heavy debt must take the bull by the horns and be prepared for a lengthy
process which requires a lot of commitment in order to re-establish
financial well-being.

About The Author: Charles Parson routinely produces informative papers on
subjects dealing with business debt and credit repair.
His articles on debt counselling can be encountered on
http://www.creditenio.com/counselling.html and also other web pages.

Credit Consolidation Is One Way To Pay Out Creditors

There are many reasons why people find themselves going into debt. An
unexpected and prolonged illness, an injury, the loss of work, divorce, a
sudden death in the family, or the failure of a business can all result in a
financial crunch which ends up with an individual struggling to dig out from
under a burden of debt. No matter what age or income bracket, anyone is
susceptible to financial emergencies. In order to regain their financial
standing and to get rid of the outstanding bills, many people apply for debt
loans.

The strange thing about racking up debt is that as the bills accumulate and
hopelessness begins to set in, individuals give up and begin to spend even
more. The feeling that the debt accrued is just too big to be dealt with is
so prevalent that the situation begins to look impossible. In this
situation, it is hard for people to know where to turn to for help. It is
time to stop avoiding the problem like you avoid the collection agencies on
the phone and to look into options such as consumer debt consolidation.

The key to debt management is to realize that the debt must be managed, not
hidden from. There are several opportunities to savea person from drowning
in their debt, of which debt consolidation is a major component.

For starters, there are lots of counseling services set up to provide people
with strategic plans for managing their debts while avoiding more. Theese
programs often offer credit repair free of charge, working for the
individual debtore rather than the creditors. With this type of service,
monthly payments to creditors can be greatly reduced, sometimes by more than
one half.

Many consumers opt for debt loans. These loans are applied for through
various institutions. The consumer then uses the money to pay off all
outstanding debt to creditors and make lower monthly payments to just one
place.

There are lots of services available on the Internet which offer suggestions
and strategies for getting out of debt. These range from financial
institution websites to discussion forums where debtors can discuss
strategies with other consumers who have been or are in a similar situation.

There are also special clinics designed to assist people in dire financial
straits. Most watchdogs suggest that these clinics be avoided, however, as
many operate outside of the law and some have even been caught stealing the
credit files of clients.

Finally, people looking for options might want to look into getting help
from a certified debt repayment representative.
These professionals know the ins and outs of credit negotiation and also can
assist in getting collection agencies off your back.

About The Author: Focusing on informating about credit consolidation, Eric
Slarkowski pens especially for http://www.creditenio.com . You might find
out more about his publications over at
http://www.creditenio.com/debtconsolidation.html and other sources for
consumer debt consolidation news.

Introduction To Home Equity Loans

Home equity can be a difficult concept to understand if you have
never dealt with home ownership before. Equity is defined as the
monetary value of a property or business beyond any amounts owed
on it in mortgages, claims, liens, etc. In simpler terms, home
equity is how much house you have earned.

Equity is the difference between what your house is worth and
what you owe on it. For example, if your house is worth $120,000
and you owe $100,000, your equity is $20,000. You can get a home
equity loan, depending on your credit rating and a number of
other factors, for the $20,000 that you have built up in equity.

Each lender will have their own set of rules on how much they are
willing to give you for a home equity loan. Regardless of which
lender, you think you would like to take a home equity loan with,
it is imperative that you closely read all of the fine print of
the loan. Some lenders will require a large balloon payment
towards the end of the life of the loan. Other lenders may
include a number of service fees on the loan, which will cause
the overall cost of your loan to be quite high.

It is also very important to review all the terms to see what
kind of charges would be incurred if you are late on a payment.
It is best to have your home equity loan paperwork reviewed by a
trusted friend or financial advisor that deals with these type of
financial transactions on a regular basis, to make sure that you
are getting what you expect in the loan terms.

A home equity loan is a closed-end loan that can have a fixed
term, a fixed rate, and fixed monthly payments or it can carry an
adjustable finance charge rate that fluctuates with a federal
interest rate. The amount of the loan is usually made available
in a lump sum. This is quite different from a home equity line of
credit (HELOC).

A home equity line of credit is a good option if you need a
smaller amount of money available for a shorter period of time. A
HELOC gives you the option to withdraw funds from an equity
account when you need them. If you repay the amounts that you are
borrowing in a reasonable period of time you will pay lower
interest and fewer fees than you would with a home equity loan.
You can use this revolving credit at any time and make payments
only when there is a balance due. You will have a lower finance
rate and a great emergency source of funds. Your house serves as
security collateral for both a home equity loan and a HELOC.

If you need a very large amount of money to pay a big expense, as
in the examples below, then a home equity loan is probably the
best choice. If you simply need some extra funds each month, or
an emergency source of money, then a HELOC might be your best
choice.

Once you have found a good home equity loan there are a number of
items for which you can use this loan. Many people these days are
finding themselves in credit card debt, due to credit card
companies offering more credit than people can really afford. It
is very easy for someone to get credit cards and to charge things
on them; it is much harder to pay them off. Credit cards also
charge a large amount of interest and high fees for late
payments. If you find yourself with credit card debt and never
seem to get ahead on paying off the balance then a home equity
loan might be the solution that you have been looking for. With a
home equity loan you will know what your monthly expenses are and
have a plan to pay down your debt at a fixed interest rate.

A home equity loan can also be used for paying for college
expenses. College is very expensive these days and a home equity
loan can help people that are on tight budgets be able to afford
the expenses of college. Many people find themselves in the trap
of making just enough so that their children do not qualify for
financial aid, but they really do not have the extra income to
pay for tuition.

A home equity loan can also be used for paying for needed home
improvement projects. Home improvement projects can be quite
costly and paying for them can be quite difficult. A home equity
loan that offers good interest rates can help to pay for a new
roof or a room addition.

No matter what you decide to use your homes' equity for, make
sure that you go with a trusted lender that has a good
reputation. Be sure to check the credentials and history of the
company that you are getting your loans with to make sure you are
dealing with a quality organization.

---------------------------------------------------------------------
Ethan Deville is a finance writer.
He writes for Pen Circles.com and PersonalHomeLoanMortgages.com,
who offers services to help customers find leading national and
(http://www.personalhomeloanmortgages.com/mortgage_brokers.asp)
local mortgage brokers, calculate monthly home loan payments
(http://www.personalhomeloanmortgages.com/mortgage_rates.asp),
view local mortgage rates and understand the various lending
products and services available in the market. Ask our Home Loan
Mortgage Specialists: http://www.PersonalHomeLoanMortgages.com

Getting Easy Home Equity Loans

When it comes to home equity loans, it can seem like a daunting task to get
it done. After all, you have to undergo a credit check, fill out paperwork,
and deal with the anxiety of whether or not you will actually qualify. The
good news, though, is that it is becoming easier and easier to get home
equity loans. The key is to understand about what you qualify for
beforehand, and to take steps to find a lender with a loan program that
works well for you.

Good credit

One of the ways it is easy to get home equity loans is to have good credit.
If you have good credit, it is easier for you to qualify for home equity
loans, and you are more likely to get a better interest rate. Additionally,
there is less hassle and less maneuvering to get you a loan when you have
good credit.
You can cultivate good credit by making sure that you are on time with
paying your bills, and not skipping payments. Keeping your credit card debt
to a minimum can also help you cultivate good credit.

Special programs for bad credit

While easy home equity loans aren't quite as prevalent for people with poor
credit, there are many brokers and lenders who work with people who have bad
credit. Look for a broker who can help you fill out the necessary paperwork,
and who is experienced at helping people with bad credit find home equity
loans that work in their specific situations. You will, however, have to
accept the fact that you will have to pay a higher interest rate. You might
even have to pay more up front in closing costs and in points. However, if
you want an easy home equity loan when you have bad credit, it is important
to realize that you will probably have to pay more.

Applying online

Another way you can make it easier to get a home equity loan is to apply
online. There are plenty of accommodating lenders online who specialize in
helping people get easy home equity loans. Usually the paperwork is easier
to fill out, as there is an easy guide through the forms. Additionally, in
many cases you will find out fairly quickly whether or not you qualify, and
how much you are eligible for.

About The Author: Visit http://www.homeequitywise.com to find an Easy Home
Equity Loan.

Loans For Every Occasion: Home Loans, Payday Loans, Student Loans And More...

At some point in life, it is almost guaranteed that you will be applying for
a loan of some sort. Paying cash for products and services is not only
becoming obsolete, it's terribly inconvenient. Today, credit is a way of
life, and as more and more people begin to shop online, plastic is the
currency accepted everywhere.

The most basic of loans is of course, the credit card.
Companies that issue credit cards make money every month that you carry a
balance, and they are betting on the fact that you won't pay off the balance
every month.

Some loans actually make good business sense. Why would anyone want to shell
out $300,000 for a new home when they could get a Home Loan and pay
$1,000.00 a month, and then deduct the interest paid from their income
taxes? That three hundred grand could be put to work in other investments,
and could conceivably earn more for you than you are actually paying for the
house!
And all that time, if you time it right, your house becomes more and more
valuable.

There are also times when for many people things just aren't going well
financially. An unexpected expense occurs and you find yourself just coming
up short on your living expenses.
Many types of loans exist for this type of situation, both secured and
unsecured.

Maybe you just need some quick cash to get through the holidays, and intend
to pay the loan off within the next few pay periods. Companies offering
short term Payday Loans abound both on the Internet and off. Some with no
credit check will transfer up to $1,500 into your bank account within 24
hours.

Student loans, auto loans, small business loans, personal loans, home loans,
second mortgages, payday loans, government loans, bad credit loans, loans to
consolidate other loans - there is a loan for just about any occasion out
there.

The question is how much are you going to pay for your loan?
And the answer to that depends in most cases on your credit history.

Your Credit History: Weather or not you get the loan, and how much it will
cost you.

It is never too early to start establishing credit, and the best way to do
this is with a credit card. If you are finding it difficult to obtain a
credit card because you have no history, you can always buy your history by
applying for a secured credit card or line of credit. Put down $500 or
$1,000 and borrow against it. Make sure the institution you are applying to
reports to the major credit bureaus, use the line of credit and pay your
bills on time, and voila - you have a credit history! There is nothing wrong
with carrying a balance over, just pay the minimum or a bit more, and pay it
on time!
Creditors like to think they will be making some money off of you.

What Lenders are Looking For

While different institutions have different criteria, there are some
generalizations one can make about how they determine the creditworthiness
of an applicant. Make no mistake about it; creditors are in the business of
making money. If your credit is less than perfect, it doesn't necessarily
mean you won't get the loan, but you will be paying more for it!

After receiving your application, a lender will then acquire a credit report
from one of the three major credit bureaus, Equifax, Trans Union, or
Experian. This is your credit history.
Taking into account such factors as your income, the balances in your
checking and savings accounts, the assets you own, the length of time you
have been at your current job and place of residence, the amount you owe
other creditors, and how promptly you pay your bills, the potential lender
will then make a determination on if you will get the loan, and how much
they will charge you for it.

Frequent late payments, bankruptcy, repossessions, legal judgment liens, or
accounts being turned over to collection agencies do not bode well for
obtaining a loan. That being said, most creditors realize that life happens,
and such legitimate circumstances like an unexpected illness, injury, or the
loss of your job do not necessarily reflect negatively on your
creditworthiness.

When Things Take a Turn for the Worse

If you are in the process of paying on a loan or loans and one of these
unforeseen circumstances befall you, talk to your loan officer. Most loan
institutions find it in their best interest to work with the lendee, and
will often make the necessary arrangements to make it easier for you to make
your payments.
Just remember, they want their money, and the last thing they want is for
you to default on your loan, or heaven forbid, declare bankruptcy!

About The Author: Michael Talbert is an author that writes on a variety of
topics. Visit The Loan Station at http://www.Loan-Station.net for more
information.

Make A Plan And Get Out Of Debt Now

The problems that you are having with your finances may feel like they are
holding you down. You may have found that credit card bills, house
mortgages, car payments, and caring for your family are driving you into
deeper debt than you would have ever expected. If you are having problem
with debt, you can make several moves to get out of debt. By knowing what is
available to you and re-organizing your finances, you can become debt free.

The first thing that you will need to do is analyze the situation that you
are in. Figuring out how much debt you have will be the first step. From
here, you can determine how much you are making as a steady income. The debt
should balance out with your income on monthly payments. If it doesn't, it
may be driving you into deeper debt. This could happen by not being able to
make monthly payments or having high interest rates, as well as other
problems.

If you have found that your debt is not being controlled, you can find ways
to get out of debt today. Once you have calculated your expenses, you can
begin to find the right means to re-balance how much you are paying.
Consulting with someone about how to do this is a good first step in getting
out of debt. You can talk to them about possible changes to make with your
credit and how much is owed. You can also speak with them about how to
budget and finance your debt.

Those who consult with you about your debt will be able to offer a variety
of information and changes that you can make.
Depending on your needs, you can find the right type of plan.
One of the well known plans that can be used to help you get out of debt
today is debt consolidation. This offers you the financial ability to take
your credit cards and other personal payments that have driven you into debt
and make it one payment. From here, you will have the ability to change the
way payments are made.

Debt consolidation will be an easy way to get out of debt today. You will
only have to make one monthly payment, instead of paying several bills. You
will also have the ability to have only one interest rate with this
consolidation, which will allow for lower overall payments. Debt
consolidation will make sure that you can balance your finances in relation
to debt and income that you are making. This will help to get you out of
debt quickly and painlessly.

If your debt is getting in the way of your personal life and causing extra
stress, then you can examine ways to get out of debt today. By analyzing
your situation, and talking to a credit counselor about debt consolidation,
you will be able to change your financial situation and begin to relax about
the finances. Getting out of debt is an important move to help you to enjoy
your life.

About The Author: http://www.debtconsolidationoptions.net