There are many reasons to consider mortgage refinances. When rates are low, mortgage refinancing can lower your monthly payment. It can also lower the amount of interest you have to pay over the life of the loan.But as a method of adjusting debt it has some drawbacks that should be considered before making that big step. Continue reading →
The Ugly Face of Credit Card Collections
posted by Joe in March 28th, 2008
This is a fascinating story about a young student’s battle with credit card collections. Sadly, her story is common now a days. More and more Americans are getting themselves deeper and deeper into debt.
What is disturbing is the unethical and questionable tactics many collection agencies use to extort money from debtors.
If you feel that you are being abused by a creditor or collection agency, refer to the Fair Debt Collection Practices Act.
Secured vs Unsecured Loans, What’s the Difference?
posted by iliah in March 26th, 2008
Both lender and borrower are faced at the outset with a basic decision - to obtain a loan that is either secured or unsecured. But, what does that mean, and what are the differences of each? Continue reading →
Step Towards Credit Card Debt Elimination
posted by Tanita in March 22nd, 2008
There are many things you can do to eliminate your credit card debt.1. Control your urge to spend: The first thing to do reduce credit card debt is to control your expenditures. The primary reason people get into debt is because of uncontrolled spending.
2. Leave your credit card at home. This prevents impulsive shopping. If you really need something, then you have to go back home and get the credit card from your house. This credit card debt elimination technique, again, works on the principal of ‘prevention This will prevent unplanned expenses from happening.
3. Prepare a monthly budget and stick to it. This is really a very debt elimination measure. This budget will form the basis of your credit card debt elimination plan, so you have to stay disciplined. After all, if you deviate from your budget, your credit card debt elimination plan will go for a toss.
Are Low Interest Credit Cards Good or Evil?
posted by iliah in March 20th, 2008
Credit cards can be used for the sake of convenience, for online shopping and the dozen other uses for which it was designed. Or, it can become a means of increasing your debt to absurd levels and cause you to pay painful amounts of unnecessary interest every month.Many who let credit card debt get out of control see debt consolidation as the way out. They are often presented with a stack of offers to reduce their credit card debt by consolidating all their debt onto one credit card. Continue reading →
Developing A Budget Can Increase Income
posted by Tanita in March 18th, 2008
Developing a budget is an easy thing to do. Sticking to it, well, that’s another matter. It might seem that developing a budget should be an elementary task. But many people are simply not inclined to use spreadsheets, balance checkbooks or lay out a formal budget.It is within everybody’s self-interest to make the effort to outline expenses against income even if it requires getting someone else to help undertake the task. The budget should include monthly income and outgo, projections of expected increases and decreases and some buffer for the unexpected. Continue reading →
3 Ways to Eliminate Your Debt
posted by iliah in March 13th, 2008
Getting into debt is very easy to do. With easy access to credit and credit cards, it is no wonder that millions of Americans struggling to get by and keep their debt repayments on track.
Is bankruptcy the only solution to massive personal debt?
There are many ways to get out of debt besides filing for bankruptcy. If you looking for other options besides declaring bankruptcy, read on. Continue reading →