Debt Consolidation Considerations

Credit card debt can be difficult for anyone to overcome. You may have several credit card accounts, and you may have reached your limit on each of them. You may have discovered that you are making payments on these accounts every month, but the balances always seem to be extremely high. If you were to keep going at this rate, you would be in debt for at least 30 years or even longer.

The Secret of Eliminating Credit Card Debt

This situation is familiar to a lot of people, so you don’t have to think that there is something wrong with you. As a matter of fact, so many people are in this situation that financial experts started debt management companies like this one just for the purpose of helping consumers eliminate credit card debt. One option you have is debt consolidation.

Why Consider Debt Consolidation?

Debt consolidation is a debt elimination strategy for people who have more than one debt to re-pay. As it is now, you are writing more than one check each month to more than one creditor. This can be very stressful because the minimum amounts are typically very high. It would be difficult for you to make one payment like this, but you have more than one, and this may be causing you to lose sleep.

When you consolidate your debts, you will only have one debt to re-pay. You will work with a debt consolidator who will accept one payment from you every month and will pay each of your creditors for you. The new payment will be less than the amount you are required to pay right now, so it will be easier for you to write that one check.

What Can a Debt Consolidator Do?

Your payment can be lowered by your debt consolidator, who will ask your creditors to lower your interest rates. Each credit card may have a high interest rate that causes your balances to go up every month. With a lower interest rate, less interest is going to be added to the balance, and you can reduce your balances to zero in a shorter period of time.

You can relieve yourself of your credit card debt without taking out another loan with debt consolidation, so give it a try today.

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Don’t Wait Until You’re in Debt to Get Credit Help

get out of debt with debt help

Credit management is a skill that every adult needs to understand and develop, but most people end up learning about it the hard way: by going into debt. Although some children are taught money management skills at a young age, many people grow up without any concrete lessons in budgeting or credit management, and this lack of knowledge can be crippling when it leads to financial discomfort.

What is worse, many people experience deep feelings of shame or embarrassment in the wake of a financial setback, causing them to avoid getting the necessary help they need. This only emphasizes their money problems, and it’s a situation that can often be avoided with the proper financial education about credit management and the feedback of an experienced credit counselor.

While it’s never too late to get your finances back in order after an unexpected debt, it’s always better to learn beneficial money or credit management skills and get out of debt with professional advice from CreditGuard of America before you start having serious financial troubles. These essential skills will help you avoid making the most common financial mistakes, and will also prepare you for the possibility of an unexpected financial disaster in the future.

Many people think that nonprofit debt consolidation organizations exist only to help people who are already struggling with debt. In reality, this could not be further from the truth. Credit counselors want to see people debt-free, not suffering under the burden of unpaid bills. Because of this, these debt consolidation organizations work hard to educate the public about credit management and budgeting as a preventative measure.

A debt counseling program can teach you valuable money and credit management skills that will help you maintain your household expenses without going into debt. Credit counselors can also provide information about the options, such as debt management program, that are available to people who do suffer from financial trouble and turmoil. Being armed with this knowledge in advance will protect you from more predatory debt solutions like loans.

It’s never too late to start learning about money and credit management skills. Whether you’re a college student just beginning to become financially independent, or an older adult looking to better understand your credit management procedure, a credit counselor can help set you on the right path to financial well-being and freedom.

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All About Debt Management

Debt management is a tool that anyone can use to achieve debt relief. When your lights go out, an electrician can help you fix them. If you have a leaky roof, you need to have a professional take a look at it. Managing your credit is a similar situation. There are certain maintenance tasks that you can do to keep your credit in good standing, but sometimes you need to call a professional to help you fix a critical issue.

In the same way that you need to do routine maintenance tasks around the house, so you need to practice sound credit management strategies to get out of debt and ensure a firm financial foundation for your entire life. Anyone can achieve debt relief – you just have to do the work and stay the course.  A good debt management program like the one offered by Credit Guard will cover multiple steps.

Step One: Consolidate Your Debt

The first step to managing our credit is to consolidate all of your unsecured debts. These can be things like loans, credit cards, store credit and other high-interest debt payments. Consolidation is taking all those debts and lumping them together into one single payment that is affordable and reasonable. We send reduction proposals to creditors so they will agree to reduce your interest rates and lower your monthly payments. This translates into savings for you.

If you’re having a hard time paying off all your loans, consolidation makes it easy to keep track of everything. You don’t have to worry about going hungry or unpaid bills because the total monthly payment on your debts will be based on your income.

Keep in mind that debt consolidation is not another loan. When your credit is bad, applying for additional loans can harm your credit rating. Instead, debt consolidation improves your credit rating by showing consistent payment of all your loans over time. Just make the affordable payment through us, and we will take care of the rest.

Step Two: Credit Counseling

Once you’ve gotten your debts consolidated, the second and most important part of credit management is counseling. One of our trained credit counselors will offer helpful tips and emotional support during your journey toward financial health. These lifestyle tips will help you avoid spending more than you can afford and pay down your debt when you’re able to do so. Our counselors will help you become more financially savvy so you can afford more with less.

One of the first tools used in our credit counseling session is an expense-tracking budget. This will help you watch what you spend and empower you to be able to change your spending habits so you stay out of debt. Our credit counselors understand that this is not easy, and they also provide encouragement for when you find it difficult. By following the advice from our trained credit counselors, you will gradually see your bills go down and your quality of life go up.

Step Three: Free Credit Counseling Today

The first session of credit counseling is free, so come in and see if you need debt consolidation. This is an important step, as people seeking debt relief are often considering things like bankruptcy or other life-altering decisions. Take a step back and speak with one of our professionals in a free initial session. By letting us help you manage your credit, you can stop inconvenient debt collection calls and achieve emotional and financial relief.

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Get Educated About Your Student Loan Debt

It took a lot of time, effort and just plain hard work to finish your education, and chances are, it also took a lot of cash. If you’re like most students today, you’re carrying a pretty hefty amount of student loan debt into your future – statistics show the average American student has almost $30,000 of student loan debt upon graduation.

student loan debt can add up

Left unpaid, student loan debts can wreak havoc on your credit score, and even if you’re paying them off on time, those monthly payments can take a serious bite out of your take-home pay. Combine that with the fact that in this economy, many graduates are unable to find jobs with decent pay – or even jobs period – and you’ve got a recipe for disaster.

Many student loan debts come with fairly high interest rates that can make it difficult to keep up with the payments. As a result, grads often find themselves making ends meet by turning to credit cards, which only increases their debt and postpones the inevitable. Before you know it, you find yourself juggling multiple debt payments each month at interest rates that make it increasingly unlikely you’ll be able to continue to pay on time. Then, the late fees begin piling up.

That kind of post-college debt spiral is increasingly common, especially as a result of the recent economic downturn. Unless quick action is taken to stop the debt, late penalties and interest fees from adding up, you can find your credit ruined, and you can even wind up in court.

So, how do you take action? Well, it’s a pretty good bet you can’t fight this battle on your own. While reducing your principal is extremely unlikely, and if it were reduced, it would have a negative impact on your credit score for years, reducing your interest rates and late fees is absolutely possible. But, you need a skilled negotiator to fight aggressively on your behalf. Student loan consolidation programs are designed for people in your situation. Consolidation counselors are skilled at negotiating interest rates and late fees, so you can find some immediate relief from your overwhelming debt. By enrolling in a debt consolidation program, you’ll also put an end to the seemingly ceaseless barrage of collection calls that invade your personal life.

Debt consolidation programs also help keep you on track by combining your student loan debt, credit card debt, personal loans and other debts into a single monthly payment that’s easy to keep track of and that fits well within your monthly budget. What’s more, your debt counselor can design your program to help speed up the repayment of your debts, so you can be debt free a lot sooner than you ever imagined. Programs with credit management services can also help teach you how to develop smart money skills for life.

Completing your education is a source of pride and certainty that you can face your life; don’t let debt get you down. Find a debt consolidation program that offers a free, no-risk consultation, so you can learn how the program and its counselors can meet your needs.

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The Benefits of Credit Management and Counseling

For many consumers, applying for a home loan, car loan or credit card is often the first time they have any indication that their credit isn’t quite measuring up. Even though we’re inundated with news stories about the importance of maintaining good credit, few of us really understand what that means or the processes it entails.

Getting a copy of your credit score and disputing errors is the first critical step in making sure your credit is as good as it can be. But, to make sure your credit remains good – and as attractive to lenders as possible – you need to establish lifelong money management techniques that keep you out of debt and in good financial health.

Most adults today have never had formal money management training or education. Few schools offer comprehensive financial management classes or structured guidance and advice to help young people learn the strong money habits that will keep them on the path to a stable financial future. The best way to counter that is by enrolling in a reputable non-profit credit counseling program.

Credit counseling programs have skilled and certified counselors who are trained in providing the kind of guidance that consumers need to develop smart money habits. They can also help you understand the credit process and how your credit report and score can affect the loan rates and terms you’ll be offered when you apply for a loan – and how your credit can affect your insurance rates and even your ability to land a job.

Today, many non profit credit counseling programs are offered in combination with debt consolidation services to provide a sort of one-stop shop for both money management and debt repayment needs. In fact, debt consolidation can be an important part of an overall financial management strategy. By working with both you and your creditors, a debt counselor will work towards lowering the interest rates on all your unsecured debts and then roll your monthly debt payments into one payment that you write out once a month. Maybe one of the best things about credit and debt counseling programs is the support they provide. These counselors are trained in helping consumers deal with a range of financial issues, so they understand the issues you’re facing.

What’s more, debt consolidation isn’t just for credit card debt; it can also help consumers facing medical bills, student loans and other types of unsecured debt as well as car loans and, in some cases, mortgages. Most debt consolidation programs today offer flexible options, making them ideal solutions for consumers with all sorts of debts and budgets. By combining debt consolidation with money management services, you ensure the financial picture you present to a lender, insurance company or employer is as healthy as it can be.

No matter what your age or stage in life, there’s no better time than today to start getting your finances in order. A reputable credit counseling program can help make sure you’re on the right track to living the life of your dreams.

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The Road to Debt Relief and Regaining Control of Your Life

on the road to debt reliefMountains of debt, whether from credit cards, underwater mortgages or any type of personal or student loans, take a tremendous toll on you emotionally and physically. The credit cards, student loans and unsecured personal loans are usually the hardest debt to relieve. These lines of credit or loans are not backed by any collateral or any asset. However, there is hope for you if you are dealing with a mountain of debt.

Getting Rid of Debt

Many people who are drowning in debt use a company that offers a service from a trained debt consolidator. The consolidator will negotiate with credit card companies, banks and lending institutions where a new more manageable payment and interest rate is the goal specifically for you. You must keep in mind the process is not a debt consolidation loan, but a process where the negotiator obtains a new lower payment and lower rate on all of your debt. Once the negotiator completes the negotiations and the companies agree on the new terms, all the debt is merged into one low monthly payment. Basically, negotiators are very good at their work and help you eliminate your debt quickly and easily.

Staying out of Debt

One of the best ways to go on the road to debt relief is using the company’s financial counseling service. It is very tempting to open one or two more credit card accounts since the previous debt was eliminated. This is the biggest trap you can fall into. Ultimately the debt returns and once again facing a mountain of debt. Do not place yourself in that situation, get the financial counseling you need through the company. You must take the financial advice and run with the advice. Maybe one day you can open a new credit account, but take that decision slowly and easily.

Final Thoughts

Mountains of debt are a life changer. The lifestyle you hoped for is long gone and you find yourself losing interest in the things you love. As mentioned previously, there is hope for debt relief. You must find the motivation to use the service and regain control of your life.

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What is Debt Consolidation Help and Where Can You Find It?

The national average annual percentage rate for credit cards is approximately 14 percent, while a low interest card is one that charges 10 percent or less. Imagine how it would it feel to only pay 5 percent interest on your credit card. Did you know that debt consolidation help is available where you can pay lower interest on your cards without doing a balance transfer or taking out another loan?

What is debt consolidation?

Many people think that debt consolidation is the same as a debt settlement. This is far from the truth. A settlement actually involves paying your creditors less than what you owe. This will show up on your credit report and may negatively affect your credit score.

A debt consolidation, however, is not a settlement or loan at all. A consolidation is the process of re-negotiating a lower interest rate with your creditors. Since the interest you pay on your cards is a huge portion of your monthly payment, this also lowers the monthly payment you are required to pay. You will pay off your cards a lot faster with a consolidation program. This will not negatively affect your credit score, and may actually increase your score because your debts will be paid off faster.

Do you have to talk to your creditors to receive debt consolidation help?

You usually do not have to talk to your creditors or do the negotiations yourself when receiving debt consolidation help. The debt counselor that is assigned to you will work directly with your creditors and set up a plan that you will approve before you have to pay anything. This is a great option for those consumers who get nervous speaking to their creditors or who feel like they do not know how to negotiate.

Where do you find these services?

Many financial institutions offers credit card counseling and consolidation as part of their services.  There are also independent companies and non profit organizations that offer these services to consumers. It is really up to you and your comfort level with these various financial institutions. Choose one that you trust and get your debt under control.

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Why You Should Get Credit Card Debt Help

A car, college tuition, medical expenses, home or auto repairs: these are but a few reasons why some people go into debt. When these situations come up they are, more often than not, too expensive for the average Joe/Jane to pay off with his or her savings. Often, for expenses such as those, you have to charge them to a credit card. In a perfect world, these charges get taken care of in a timely manner and you would leave with nothing but a fond memory and a good credit score. However, the world in which we live is grossly imperfect and even the best laid schemes of mice and men often go awry.

Credit cards are the quickest and easiest form of consumer credit in the world, so it is no wonder that there is so much of it. All you need to do to get a credit card is turn 18. Applications find their way to your door and unfortunately much of the pain that is caused by credit card debt occurs when you have more than one card. Balancing these multiple bills can be tricky and can lead to late fees or increased interest. This neglect can lead you into a whirlpool of problems that is tough to swim out of. Many people who own credit cards don’t fully understand the responsibilities that a card brings with it. The hardest part of eliminating credit card debt is initiating the first step.

Neglecting your debt can lead to a financial whirlpool effect.

Neglecting your debt can lead to a financial whirlpool effect.

Credit card debt help is actually easily attainable. The first thing on your checklist is to consult with a debt counselor and see what options might be best for you, especially if you aren’t sure how to proceed. A credit counselor helps you negotiate your financial situation and provide the necessary help and tools to better help you got out of debt. If appropriate, your counselor may recommend a debt consolidation plan to get you back on the path to independence. Credit card debt help is not as hard to get as you might think. With a little planning and saving you would be surprised at how quickly your debt disappears.

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