Credit Card Debt Consolidation for Newbies

Credit Card Debt Consolidation for Newbies

Credit card debt consolidation can be quite a tricky instrument to handle at times.

Debt can increase to unimaginable heights. Within no time the high interest rate can suck off your liquidity if not managed properly.

There is no one best way to minimize debt payment. In fact, a combination of ways should be explored in order to ease off the debt. The primary way to kill the debt is by controlling the interest rates.

You can also consult a financial analyst or debt counselor. They can offer best in class advice on credit card debt consolidation in no time.

They have helped several debtors in debt. They could help you sustain liquidity.

Credit card debt consolidation can also help those who have a large amount of debt that is owed to the creditors.

Credit card debt consolidation can settle for lesser payment plans with the financial institutions.

credit cardsThe benefits are passed on to the debtor in the form of favorable interest rates and long pay tenure.

The debtor can also choose to break down the owed debt into monthly EMI’s and pay off the debt smoothly.

This should be complemented with a minimum usage of the credit card else it would not help you in maintaining the liquidity.

Most of the lending institutions offer easy EMI payments. This is in fact a great way to pay off the debt.

Other sources of income like freelancing or working extra should be explored to increase liquidity. Some of the other options include renting out your property or selling unwanted items on an e-auction site like e-Bay.

They could fetch you a handsome amount at times you need them the most. Financial crunch can be solved in the best manner through them.

As a suggestion, I would recommend you to use these techniques in a sequential manner.

Any radical credit card debt consolidation program does not exist.

If some agency or financial institution is offering you any radical debt relief program then chances are that they are surfacing the facts from you.

The onus lies on you to explore their service offerings and come to a conclusion if they are worthy enough to manage your debt in a rightful way.

Credit card debt consolidation can provide ideal solutions to those who are in deep debt.

With the low cost of financing and better repayment terms, it is an ideal resort. So what are you waiting for?

Get in touch with a debt consolidator today!

Getting Those Debts Written Off – a Success Story

Getting Those Debts Written Off – a Success Story

There was a time in Jenny and Michael Stanmore’s life when the idea of getting debts written off was ridiculous.

With no credit cards and only a tiny home improvement loan, they had enough money coming in to cover the mortgage and bills on their home and enjoy a happy life with their two children.

Then things changed very suddenly. Michael’s employer went out of business in August 2015. Michael was good at his job so he and Jenny were not too worried. It wouldn’t be long before he found another one and they had Jenny’s part-time job and Michael’s redundancy payment to come. The idea of getting their small debts written off was daft – they had money, they would be fine.

Six months passed and things got worse. Their savings ran out and Michael couldn’t find a job. At 53 he found it tough to persuade potential employees to hire him. There was also no redundancy pay as Michael’s old firm had few assets and what it did have was taken by its bank as payment on a secured loan. They started paying some of their living expenses by taking out payday loans online – fortunately, there are plenty of reputable companies in Oakland, CA. This could help, but only if one doesn’t abuse this way of getting emergency cash.

Then Jenny was made redundant at Christmas 2015. To cope until they both found work, they started paying all of their living expenses using credit cards and loans. The idea of finding out whether they had a chance of getting their debts written off sounded more appealing, but still, they resisted. Things would take a turn for the better soon.

Although both Jenny and Michael found part-time work in the summer of 2016 their income wasn’t enough to make a dent in what they had borrowed. Still, they refused to do something about getting their debts written off. The interest began to stack up.

missing paymentsIn 2018 they began missing payments, regularly exceeding their overdraft limit, and incurring charges and interest. A way of getting their debts written off was becoming a real necessity but still, something held them back. They believed things would get better and decided to re-mortgage their home and pay off their debts. Then the recession hit and no lender would let them re-mortgage on their part-time income. The property market crashed and they couldn’t sell their home. They were in deep trouble. Now ways of getting their debts written off were essential.

Jenny rang our experts in January 2019 looking for help. She’d heard about unenforceable credit agreements and wanted to find out if it was possible to get some of their debts written off and ease the strain. A quick check of their paperwork revealed something interesting- one of their loans did not have a signed credit agreement, which makes it unenforceable and a candidate for having the debts written off if challenged.

The lender could not produce a copy of a signed credit agreement, although it did attempt to persuade the couple that their loan application form was the agreement so there were no grounds for having the debts written off. By this time we had put the Stanmores into contact with a company of enforceability experts who were dealing with the lender and working hard towards getting Stanmore’s debts written off as quickly as possible.

The lender ignored their requests and consistently declined to produce a signed credit agreement. It then escalated the case to the local courts. It was the day the Stanmore’s had been waiting for. Without evidence of a credit agreement, there could be no enforcement – getting the debts written off was looking ever more likely.

On the day of the court case, the lender suddenly withdrew its claim giving no reason. The judge stated that the lender had surrendered on a very straightforward point of law, which suggested it had probably hoped the Stanmore’s would be scared into giving up before the case went to court. The judge even went so far as to refer to what the lender had done as an abuse of the legal process.

To Stanmore’s delight, the judge ruled the debt unenforceable and the loan debt is written off – all $22,347. Even better, the judge ruled the lender had to pay the Stanmore’s legal costs too!

How to Choose the Best Debt Relief Company

How to Choose the Best Debt Relief Company

With the recent mortgage loan crisis and current dire economic conditions, chances are more and more people will need help from debt relief companies. But how can you choose the best debt relief company available?

Well, the first thing you should do before you look for a debt relief company is to consult a certified consultant from your current financial institution. They are most qualified to steer you towards a trustworthy company that will help you solve your debt problems. You should avoid lesser-known debt relief companies by any means since they are most likely to use hidden fees to pad their bottom line.

Make sure you choose a company that has certified counselors and a real mailing address, not just a P.O. Box. You should also check if they are registered with the better business bureau or BBB.

The BBB is an organism dedicated to making relations between online service providers and consumers safer. They have stringent requirements as to which companies they accept; so chances are that if a company is registered with the BBB, they are trustworthy.

You should also check with your attorney general’s office to see if they can recommend some trustworthy companies; they will be more than happy to help you. You can also use their services to run a background check on any company you are intending to do business with.

Make sure you don’t fall for the first company that can give you the lowest interest rate. A consolidation loan with a low interest rate isn’t necessarily the best for you.

You should always go through the terms of the consolidation loan carefully since low interest rates are usually coupled with terms that will ultimately work in the lender’s favor.

There are some ways that you can lower your monthly payments, namely with collaterals. If you have a house under your name, you can use it as collateral; but make sure that you will be able to make payments since you’ll have no resort left if you lose it. You can also cut your monthly payment rate by paying a large sum of money in advance.

If I were to give you only one piece of advice when comes the time to find the best debt relief company available, it would be to shop, shop, shop, and run a proper background check on any company you choose to go for. Debt consolidation is serious business, so make sure you contact your attorney general’s office before you sign up for any debt consolidation loan.

Do You Qualify for a Debt Relief Grant?

Do You Qualify for a Debt Relief Grant?

Debt can become a vicious cycle. You may find yourself struggling to make your payments and thereby falling further and further into debt.

When this happens, feelings of helplessness are common. A solution to this problem may be a debt relief grant.

Private organizations and people have funneled millions of dollars to these programs to help Americans overcome their debt.

While they may not be labeled “debt relief grants”, you can easily apply for the money and use it to pay off your debt obligations.

This grant can work in the following way. You can apply for and receive it for a new car that has a price of $15,000.

Upon receipt of the money, you can then locate a different vehicle that has a price of $9,000. The difference of $6,000 you can then use to eliminate your personal debt.

Grant providers usually fall into the following categories: educational grantors, non-profit organizations, for profit organizations, government authorities, and housing authorities.

When looking for a grant to apply for, look for one that is intended for a single person, not a group. When applying for the grants they are issuing be sure to fill out the application truthfully.

As part of the application you will be asked the amount you are applying for and why you are submitting an application.

You will also be asked to list any previous grants you have been given, your current income and your current expenses.

More detailed financial information may be asked for. You should provide this with the comfort that all such information will be kept private.

If you follow the application guidelines precisely and in a timely manner you will help the process move quicker and have a greater likelihood of being approved.

Some grants may have limitations based upon age, location, or other criteria.

You should know what these are before applying and ensure you do not apply for any grants that you do not qualify for.

Upon a thorough completion of your application, there is a waiting process for a decision to be made.

Don’t miss out on this money based on the unfounded belief you will never be accepted. Thousands of other people are receiving this money every year, so why can’t it be you?

Debt Reduction: Alternatives to Bankruptcy

Debt Reduction: Alternatives to Bankruptcy

Debt reduction is one of the primary priorities for most Americans. With today’s economic recession and skyrocketing unemployment, many people are losing money in investments and their homes to foreclosure.

Today, more than ever, people are realizing debt is their enemy and looking for options to clean their financial slate.

Although debt reduction can seem like a daunting task, there are numerous ways to reduce spending and pay off debts. However, in order to be successful at debt reduction, you must sit down and thoroughly review your finances.

Once you can see where you stand, it becomes easier to determine which type of debt elimination plan will best help you reach your financial goals.

reduce your debtThe most popular debt reduction plans include debt consolidation, debt settlement, debt management, credit counseling, budgeting, and bankruptcy.

Many of these plans require the services of debt professionals. The majority of service providers charge a fee to reduce or settle debts.

Unless you are drowning in debt there is no reason to invest money into debt reduction plans. Implementing solid budgeting techniques can help you regain control of your finances without spending a dime.

There are numerous resources available to help people learn how to budget.

The library is another source for obtaining information on creating a household budget and personal finance.

Most libraries offer a variety of personal money management courses on DVD or VHS, which they lend out at no charge.

For those unable to master the art of budgeting, credit counseling is a relatively inexpensive way to reduce debt. Although most credit counselors charge a fee, individuals who cannot afford this service can obtain help through non-profit agencies.

The U.S. Trustee Program offered through the Department of Justice provides a list of approved nationwide credit counseling agencies, as well as debt education providers.

Individuals considering bankruptcy would benefit from using the above-referenced credit counseling services. When debtors petition the court for bankruptcy protection they are required to obtain credit counseling through one of the U.S. Trustee agencies.

There is an abundance of organizations offering debt reduction programs. The problem is most of these companies charge exorbitant fees to negotiate debt.

If you decide to use debt reduction companies, it is crucial to conduct research to ensure you are working with a reputable organization.

One of the best places to verify credentials is via the Better Business Bureau website at

Debt reduction requires patience and persistence. Realize it took considerable time to create a mountain of debt and it will take time to conquer it.

Invest time in becoming educated about the various debt reduction plans. Decide which is best suited for your needs. Develop a plan and put it into action. Enjoy the rewards of your efforts and watch your debts melt away.