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Debts Solutions Tips

Your Credit Score

How well do you know your credit score? Do you even know your credit score? Have you hit the limit on your credit cards and started missing payments? If your response was yes to one or more of these questions you can end up having bad credit.

Clearing Your Debt

The very first step you can take for clearing your debt is by taking the help of a credit counselor, as it is one of the most common for clearing your debts. The credit counselor will suggest you an appropriate idea on how to manage your debts and credit, after investigating your financial state of affairs. He provides you suggestions such as a personalized relief plan, provides you with proper budgeting plans, as well as instructs you on proper use of your money.

You can also adopt one of the successful ways for clearing your debts. Through a credit counseling service, you can go for a debt management program if you are not getting an appropriate solution for clearing your debts. You can reduce your interest rates on your debt by adopting a debt management plan, as here the counselor on your behalf negotiates with your creditor on interest rates. You are required to pay the monthly payment for clearing your debts, once you opt for a debt management plan the credit counselor decides upon your monthly payment thus making your task quite simple.

So now you can distribute your payment among the creditors by paying the approved monthly amount to the agency. So by adopting a debt management plan for clearing your debt you can invite many benefits like, the interest rates monthly will get reduced, extra charges and late fees are not there, and no more distressing calls from the creditors. Therefore, overall it is the best and suitable plan for clearing your debts.

Debt Options

You can also go for debt consolidation which is like debt management. Then it is debt consolidation loan. In a debt consolidation loan, you can clear all your debts by taking a loan from the lender or financial institutions.

Debt settlement is another solution for clearing your debts. If you are not able make your monthly payments towards clearing your debts, then you can go for a debt settlement plan. Even here the debt settlement company starts negotiating with your creditors to reduce the debt amount. A debt settlement plan helps you in clearing your debt faster and that too is an easier way. It saves you from further legal actions and lawsuits.

The last option that you can use for clearing your debt is declare bankruptcy. You can select this option only when you are facing severe debt problems. In this you need to file your bankruptcy by taking the help of an attorney. By opting for bankruptcy it becomes difficult for you to qualify for future loans as it ruins your credit history.

You can also try clearing your debts on your own by opting for a self repayment plan.

Do you want to know more about debt and how you can make smart financial decisions now that will help you secure a more prosperous financial future? Sign up for our newsletter for monthly money tips.

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    Budgeting

    Debt and the Help You Need

    Dealing with Debt Reality

    Are you struggling with your bills? Everyone has problems paying bills from time to time. And most everyone will be late paying a bill at least once in their lives. When this happens it is not always the end of the world. However, for some people being late is an every month occurrence due to their finances. And regardless of whether it is because they simply do not have the extra income anymore or because they have over extended themselves, they will find that a good consumer credit counseling service can help them get their lives back on track.

    Are you a newly single parent or young adult out on your own for the first time and having trouble juggling your debt? You will find that while unsecured debt is quite easy to obtain, it can be a lot harder to pay back. From credit card debt to old medical bills, these are the ones that make your finances scream. But do not let them get you down as there is help out there for you. When you go and get consumer credit counseling you will learn that not only can they help you create a great budget and plan for your finances, but they can also help you get all your debt consolidated into one easy to pay bill. In fact, while most people think of these counseling companies as a way to fix their problem, they forget that they are also there to teach you how to not get into trouble in the first place.

    Consumer Credit Counseling

    A really good consumer credit counseling service will make sure that you know how to budget your finances in the future so that you do not get in debt again. This is the number one way to stay out of debt. If you have a fixed budget and financial plan that you always adhere to then you should not have to worry about many of the unsecured debts. But as mentioned above, these counseling services are also there to help get you out of your current debt.

    The way that these companies are able to help besides setting up a budget is they are able to work with your lenders to come to certain agreements. For some this may mean a consolidation of your bills with one lower monthly payment and most often even a much lower interest rate. Or it may just mean that they work with the lender to lower your interest rates and your principal balance. It really is that simple when you find the right consumer credit counseling to help you out.

    Getting Debt Help

    In the end what it is important to remember is that you are not alone and that there is no shame in getting help. All too often people that have been on their own paying bills for years will either feel that such services are for younger people or that it is just too embarrassing to ask for help. Don’t fall into this line of thinking when it comes to your financial future. Get your consumer credit report today and get back to life.

    Do you want to know more about debt and how you can make smart financial decisions now that will help you secure a more prosperous financial future? Sign up for our newsletter for monthly money tips.

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      Identity Theft

      Identity Theft and How It Works

      Identifying Identity Thieves

      According to the Federal Trade Commission, identity theft ranks number one on the list of top complaints, with credit card fraud being the most prevalent type. Criminals usually commit identity theft to get money, goods, or services, as well as to obtain documents such as false drivers’ licenses, birth certificates, social security numbers, or visas. It can be devastating for consumers because of the long-term damage it causes. Knowing how the thieves get your information will help you protect yourself.

      Identity thieves use a variety of methods to steal your personal information, including:

      · Looking in Dumpsters.

      They rummage through trash looking for bills or other papers with your personal information on it.

      · Skimming.

      They get credit/debit card numbers by using a special storage device when processing your card.

      · Phishing.

      They pretend to be financial institutions or companies and send spam or pop-up messages online to get you to reveal your personal information.

      · Changing Your Address.

      They divert your billing statements to another location by filling out a “change of address” form.

      · “Old-Fashioned” Stealing.

      They steal wallets and purses; mail, including bank and credit card statements; pre-approved credit offers; and new checks or tax information. They steal personnel records from their employers, or bribe employees who have access to this information.

      Common Types of Identity Theft

      · Credit card fraud 25%
      · Phone or Utilities fraud 16%
      · Bank fraud 16%
      · Employment-related fraud 14%
      · Government Documents or Benefits fraud 10%
      · Loan fraud 5%
      · Other 25%

      Security experts predict that these crimes will only increase as electronic transactions become more and more common.

      For more information, go to the Federal Trade Commission’s Identity Theft site at www.consumer.gov/idtheft .

      If you find you are struggling with credit card debt, please contact a credit counseling company today.

      Do you want to know more about debt and how you can make smart financial decisions now that will help you secure a more prosperous financial future? Sign up for our newsletter for monthly money tips.

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