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October 07, 2009
Debt problems are affecting more Americans today than ever before. The financial crisis of Wall Street left many people with worthless financial portfolios, while the unemployment crisis has drained many saving accounts. Add in wasteful spending habits and you have a recipe for financial disaster.
Many options exist to eliminate debt problems, but it takes patience and commitment to get out of debt. Individuals with mounting debts must take a hard look at spending habits to determine where their money is being spent.
September 26, 2009
Today, many people are looking for debt solutions. They are tired of being stressed out by mounting debt and exorbitant interest rates. Millions of Americans require immediate debt help in order avoid foreclosure or bankruptcy.
Several debt solutions exist including: budgeting, debt consolidation, debt management, debt settlement, credit counseling and bankruptcy. Each option carries its own set of pros and cons. Not all options are available to everyone. Some require debtors to meet specific criteria, while others charge fees for services rendered.
September 23, 2009
Today, millions of people are seeking credit card debt relief. In previous years, consumers who possessed good credit scores could obtain credit cards from major credit card companies, gasoline companies, airlines and department stores. Creditors with poor credit ratings could obtain credit cards from subprime lenders who charged outlandish interest rates and drove debtors into a financial grave.
Today, numerous companies offer credit card debt relief. Many offer the promise of helping debtors obtain reduced interest rates and the opportunity to slash outstanding balances. Some claim they can help consumers get out of debt in a matter of months. Depending on credit card balances, it can take consumers a decade or longer to repay outstanding debt. The promise of becoming debt-free in months is enticing, but is it realistic?
February 17, 2009
The word 'bankrupt' refers to a person or business that is financially ruined. Both people and companies can rebound from being bankrupt, but their chances for success are limited if they don't take time to investigate what caused them to become bankrupt in the first place.
Today, there is an abundance of bankrupt people and businesses. From automakers and lending institutions, to the corner grocer and your neighbors. Everywhere you turn there is news of gloom and doom, a failing economy, and unemployed people
December 28, 2008
Millions of consumers need debt help, but most do not know where to turn. From debt consolidation to debt settlement and credit counseling to bankruptcy; there are programs which address nearly any financial dilemma. The problem is determining which is best suited for your needs.
Today, we're going to review debt help programs and what they offer. Since there are numerous options, this article briefly touches upon the most popular. Additional information and resources can be obtained by clicking on the highlighted links.
December 17, 2008
Debt relief is the buzzword of the day. From Fannie Mae and Freddie Mac to banks and automakers, everyone is searching for their own personal bail-out. And, while it is now official that America is in a recession, most people have been feeling the financial pinch for quite some time.
Obtaining debt relief is no easy feat; however it can be accomplished. The problem is most people want instant financial gratification. Unless you hit the lottery jackpot, chances are this isn't going to happen. It took time to build your mountain of debt and it is going to take time to chisel it away.
December 07, 2008
Debt settlement provides a bankruptcy alternative to individuals able to pay a portion of their outstanding debts. Debt settlement companies negotiate with creditors to reduce the amount of outstanding balances. In some cases, debts can be reduced by as much as 60-percent.
Using debt settlement can adversely affect the debtor's credit rating. However, it is not as detrimental as filing bankruptcy. Both personal and business bankruptcy remains on your credit report for ten years, while the effects of debt settlement are temporary.
September 12, 2008
Debt reduction is the key to mastering finances and breaking free from creditors. As Americans, we have been conditioned to buy, buy, buy. However, this brainwashing has left us with a nation known for its consumer debt. It has been estimated that U.S. consumer debt has skyrocketed to more than $2 trillion, or an average of $20,000 per American.
Debt reduction is a sure-fire way to eventually eliminate debts and achieve your financial goals. However, you must take steps to adjust spending habits and develop a plan to pay off outstanding debts.
September 05, 2008
Debt consolidation is financial strategy which can be used to reduce outstanding debts. As more people face financial hardships such as foreclosure and bankruptcy, they are turning to debt consolidation programs. The question is, do they really work?
Various types of debt consolidation exist including consolidation loans, home equity loans, home equity line of credit, debt settlement, credit counseling and bankruptcy. It is important to determine which type of consolidation plan is best suited for your situation and understand the risks involved.