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The Power of Consumer Credit Counseling

Posted by on Oct 9, 2013 in Debt Advice | 0 comments

consumer credit counseling can help you with credit card debt

Since the real estate and financial meltdowns of the last decade, many individuals have been severely impacted and left with burdensome amounts of debt. Although credit cards are the most common form of debt, many Americans are suffering from student loan debt, medical bills and collection accounts as well.

Bad financial situations can happen to good people. That being said, there is one avenue people can turn to: debt consolidation.  By using a credit counseling service, you’ll find the tools and resources you need to be able to consolidate your debt into one easy monthly payment. By properly managing your debt, you’ll help put yourself back on the road to becoming debt free.

With a consumer credit counseling service like CreditGuard, the client has the ability to work directly with a financial to consolidate their unsecured debt, gain money management skills and provide overall financial and emotional relief. Trained credit counselors study your assets, income and debts, and these professionally trained experts create a custom debt management plan that is based on your actual income and expenses. The plan cuts your monthly expenses because creditors agree to lower your interest rates. Not only are you paying less each month, but you can get out of debt faster too. You can pay off your credit card debt in months, as opposed to years or decades.

Debt consolidation companies also offer financial counseling so that you learn ways to better manage your money. You might find that you need to put some plans on hold until you get debt relief. Making a budget can help reduce your family’s spending and help you keep better track of what you spend. Continuing to let debt spiral from high interest rates and missed payments is something that many people simply cannot afford.  That’s why debt consolidation services are so important for people in need of help managing their debt.

While debt consolidation services help provide financial and emotional relief, it is important to note that they do not reduce the principle amount that is owed. Debt consolidators understand the lending process, and they use their knowledge and experience to help you get out of debt. Put an end to your debt once and for all by getting a debt consolidation company on your side today.

The Benefits of Debt Consolidation

Posted by on Sep 30, 2013 in Debt Advice | 0 comments

Life is full of challenges, and nearly everyone experiences financial difficulty at some point. If not managed properly, however, credit card and personal loan debt can become overwhelming. When your credit obligations exceed available income, it may be impossible to continue making monthly payments on time.

Unfortunately, procrastination only makes the situation worse, and unpaid debts will accumulate under the burden of high interest rates, especially for credit cards. Creditors are often indifferent to personal difficulties, and their demand for loan repayment may at times seem harsh.

Many people have experienced a life reversal through no fault of their own. When an unexpected catastrophe affects your ability to repay credit card debt or a personal loan, a debt counseling agency can help stop the collection calls and develop a plan to help you restore long-term financial security.

Benefits of Debt Consolidation Services

Multiple credits cards are especially problematic since they usually have varying interest rates, payment dates and terms. Most borrowers recognize the value of consolidating their debt, but they lack the experience and expertise to create an effective plan. A qualified debt counselor can help develop a blueprint to comfortably manage your current obligations and ultimately retire the debt completely.

Professional debt counseling agencies like CreditGuard will set up a debt management program to negotiate with lenders on the borrower’s behalf and provide a variety of benefits including:

  • A single monthly payment that is in most cases lower than the combined minimum payments for all your current credit cards and personal loans.
  • The borrower enjoys a substantially lower interest rate on existing loans, which means more of the monthly payment is applied to principal rather than interest.
  • The overall repayment period can be greatly reduced.
  • Debt repayment is easier and more reliable since there is only one payment date to remember.
  • Since the debt counselor negotiates with each creditor individually, collection calls at home and work cease.
  • A sound financial repayment plan can help avoid bankruptcy and can reestablish the borrower’s good credit.

A Better Financial Future

Choosing an effective debt consolidation program is the first step in establishing sound credit. If you are burdened by excessive credit card or personal loan debt, consolidation is the most efficient way to eliminate multiple monthly payments and eliminate phone calls and letters. Debt consolidation services can provide peace of mind and create a solid financial future – so why not give one a call today?

Debt Consolidation Loans Won’t Improve Your Financial Future

Posted by on Jul 28, 2013 in Debt Advice | 0 comments

erase your debt with a debt management program

Many Americans are struggling with their debt.  Making several high payments every month, makes it extremely difficult to find comfort in their financial situations and find ways for them to improve their credit management skills.  If you are currently experiencing this problem, you can receive help from a non-profit credit counseling agency.

Consolidating Your Debts Doesn’t Have to Mean a Loan

Your credit counselor will help you find the best ways to help you eliminate your debts, and a possible solution may be finding a debt consolidation agency. However, you will not be introduced to debt consolidation loans with trustworthy companies like Credit Guard because this will only restructure your debt rather than eliminate it, while helping you structure your credit management. Debt consolidation will mean that your consolidator will accept one lower payment from you each month and distribute the funds to your creditors on your behalf.

Once you begin to engage in credit counseling, you will learn how your current actions can affect your future, and you will learn better ways of spending your money through credit management procedures. If you continue to make late payments, your credit scores will not have the opportunity to improve due to your creditor’s continual report to the major credit bureaus on your late payments.

What You Can Learn from a Non-Profit Credit Counseling Agency

When you are working with a non-profit credit counseling agency, you will learn how your payment history affects how much you will pay for everything in the future. For example, if you were to apply for a loan, your potential lenders would ask to perform a credit check and will discover your frequent late payments. The result will be that these lenders will be reluctant to allow you to borrow money, or they will charge very high interest rates.  Taking advice on how to spend your money, will give you ways toward better credit management, and will allow you to implement the immediate and proper action to ensure that your payments are on time.

You will also learn how your credit scores affect areas in your life that seem to be unrelated to your finances. If you are planning on applying for a new job, potential employers may wish to do a credit check. A good credit history signifies to them that you are a responsible and dependable person.  However, a bad credit history gives them insight to your payment history and they may reject you if you have low credit scores.  Furthermore, you may even be required to offer a deposit before you will be able to receive certain types of services due to your credit score.

It’s extremely important for you to care for and be actively involved with your credit score and credit management skills. A non-profit credit counseling agency will teach you how to do this by showing you how your credit relates to all areas of your life. Give them a chance to help you today to ensure yourself a more profitable and successful future.

Learn why Debt Consolidation could be the Solution you Need

Posted by on May 28, 2013 in Debt Advice | 0 comments

No matter how carefully you budget or plan your expenses, nearly everyone faces an unexpected bill for car or home repairs, medical or dental treatments, or other needs. Maybe you’ve been over-stressed, and you feel like a little vacation would help ease your tension and set you back on the right path, but you can’t pay with ready cash.

Whatever the cause, most consumers at some point will turn to credit to meet those extra financial needs. While initially, using credit to pay for a one-time expense may not seem like such a big deal, when it’s done repeatedly, the result can be disastrous. That’s the position many Americans find themselves in – facing a mountain of debt that slowly accrued over time.

The worst part about credit debt is that although it was easy to take on the debt, paying it off can be much more difficult. No matter how hard you may work to find some sort of debt relief, paying off high amounts of debt is difficult for even the most financially savvy among us, and credit card companies don’t make it any easier, piling on late payment after late payment as we struggle to meet our obligations.

Many people are ashamed of their debt, but there’s no reason to be. In fact, most Americans today are carrying some amount of unsecured debt from month to month, and many consumers have significant amounts of debt that they’re struggling to eliminate. Knowing that others face the same situation may provide little comfort when debt collectors keep calling your home, but unlike a lot of consumers who mistakenly believe their debt is more or less a permanent anchor around their necks, you should know that you can pay off your debts, even on your budget, and you can do it in less time than you thought imaginable. How? Through a qualified debt consolidation program.

What is debt consolidation?

Simply put, debt consolidation allows you to roll your unsecured debt into a single sum, and it lets you pay off that sum over time with payments designed to suit your budget. Debt consolidation counselors work with you and your creditors to reduce the amount you owe, eliminate late payments and reduce your interest rate, all while focusing on establishing a repayment program that you can handle. For most consumers, debt consolidation is the simplest and most effective way to debt relief.

Can I do it myself?

You can certainly try, but the fact is, credit card companies are out to make money, and they don’t care if they get that money from you now or through the court system. Debt consolidation programs have extensive contacts within the industry, and that means they have the leverage that’s needed to get credit card companies to work with you.

If you’re looking for debt relief that works with your budget, a debt consolidation company can be a powerful tool in helping you get back on track to a healthy financial life. Take some time today to learn about debt consolidation and start taking the steps to regain control of your life.

Tips for Credit Management

Posted by on May 24, 2013 in Debt Advice | 0 comments

Managing your credit can sometimes seem like an overwhelming obligation. The outstanding balances of unsecured debt often tally up to a monthly bill that you cannot afford. If the bills are coming in and you’re missing payments or your creditors are attempting to reach you, you may not know what to do next. Credit management can be made simpler with some quick tips.

Make a High Payment for Credit Card Debt Relief

debt reduction strategies

It’s always best to make the highest possible payment each and every month. The quicker you pay off your balance, the less you’ll wind up paying in interest. Increasing your monthly payments by just an extra $100 a month will help you get out of debt much quicker.

For example, if your debt balance is $5,000 and the minimum monthly payment is $200, you’ll wind up taking 11 years to pay off the balance along with forking over more than $2,800 at an 18-percent interest rate. Even if you don’t add additional charges, that $5,000 balance will actually cost you $7,800. If you can’t pay off a large chunk of the balance, you can still accelerate the process by making larger monthly payments. At a result, you’ll be minimizing your out-of-pocket expenses due to interest charges.

Get Credit Card Debt Relief with a Lower APR

To help ease the burden of high monthly payments, find a lender that will give you a lower APR. This will translate into lower monthly interest charges as a percentage of your outstanding debt. By switching to a lower card rate, you can also benefit from balance transfer offers that companies provide along with getting a lower interest rate.

You can also opt to boost your monthly payment a bit each month. If you get a lower interest rate of 6 percent and increase your monthly payments to $500 each month, you can pay off the balance of $5,000 in just 11 months while only shelving out $142 in interest. That is certainly a lot less than having to fork over $2,800 in interest.

These two tips to reduce interest payments are very effective for credit management, even if you’re not close to being able to pay off the balance at this time. Just sit down and make a plan. If you’re not certain of how to get started, there are non-profit financial counseling organizations that can assist you.

Getting Back on Your Financial Feet

Posted by on May 17, 2013 in Debt Advice | 0 comments

Many debtors actually believe that the only option that they have when they are deeply in debt is to go into bankruptcy. This is an option that destroys the credit of individuals and can completely shut down a business, leaving employees, as well as investors, out in the cold. Rather than submit your credit and your life to this type of scrutiny and pain, you may be able to help yourself through a debt consolidator.

What Is a Debt Consolidator?

A debt consolidator is an individual or a group of financial experts that will help you to get rid of your unsecured debt. Whether you have too many credit cards, retail cards or you were forced to go into debt because of an unexpected emergency, a debt consolidator can help you get back on your financial feet without destroying your credit and financial prospects for the future.

What Does a Debt Consolidator Do?

A debt consolidator brings together many unsecured debts into a single package. First of all, this has a positive psychological effect by stopping calls from multiple creditors, erasing multiple bills in the mail, and cutting out multiple interest rates. Consolidated debt comes as a single bill that is easily organized.

A debt consolidator also offers advice from dedicated professionals that will expedite the current process and will keep you out of debt in the future. In order to figure out if debt consolidation is right for you, you can start your journey with a free consultation call from a qualified professional who will help you formulate a financial strategy that is specific to your situation.

Acquiring New Skills

Perhaps the best reason to consider a debt consolidation professional over other, more debilitating, financial solutions is the ability to improve financial skills over time. During the process of cleaning up your current debt, a debt consolidator can tell you exactly how to protect your financial interests in the future. Imagine never having to worry about crushing debt again. Imagine the freedom that it would offer you.

If you are ready to turn over a new leaf when it comes to your finances, choose a qualified, professional, reputable debt consolidator. With the wherewithal as well as the connections to help you out of debt, your consolidation professional will help to ease the process of taking back your financial footing.

Tackling Credit Card Debt

Posted by on May 10, 2013 in Debt Advice | 0 comments

Credit card debt is a problem that numerous consumers are facing today. This situation results from a wide variety of unexpected occurrences, such as the loss of a job or the death of a family member. In some cases, debt starts to pile up because the debtor lacks the education to manage his or her money strategically. None of these situations are the debtor’s fault. Therefore, no one who suffers with overwhelming debt should feel negatively about himself or herself. There is an abundance of services a person can obtain to eliminate debt and get back on the right track.

Tackling Debt Issues

tackling credit card debt

Every problem in life can be solved with the right strategy. The key to solving overwhelming debt is having a game plan. A debtor who is behind in bills must organize, educate, and pay down his or her debt. The first step a consumer can take to get an overview of the tactics he or she could use is figuring out disposable income. Disposable income is the amount of money that is left over after a debtor pays the household bills. Calculating this figure will help the debtor see how much money can go toward debt repayment.

The best way to figure disposable income is to add all sources of income. Income includes wages from work, child support, alimony, self-employment, government benefits, and any other sources. Once the person calculates a total income figure, the next step is deducting household bills. Credit card debt should not be included in the household bills. Payments that should be included in the household bills are the rent, electric bill, automobile insurance, cable, food expenses, and fuel expenses.

Deducting household bills from the income will leave the disposable income figure. This is the amount of money that the debtor has available to put toward repaying debts.

Speaking with a Credit Card Debt Specialist

A specialist can help the debtor eliminate bills using a number of tactics. One strategy the two parties can use is a third-party debt consolidation. This type of debt consolidation does not involve lending money to the debtor. Instead, a counselor will speak with the creditors on the debtor’s behalf. This person will work hard to convince the lenders to reduce late fees and finance charges. This person will speak with all the creditors to get the best rates for the consumer.

Once the credit counselor contacts every creditor on the debtor’s behalf, he or she will compose a monthly payment figure. The debtor will make a monthly payment of this amount to the credit counselor. The counselor will in turn pay all the creditors on the list. The result is that the debtor has reduced bills and fewer problems. He or she no longer has to worry about contacting individual creditors. One monthly payment reduces stress for the consumer and keeps the creditors happy. With this special program, a person could be debt free in a relatively short amount of time.

3 Reasons Why My Wallet Rejoices for Spring

Posted by on May 6, 2013 in Saving Money | 0 comments

3 reasons my wallet rejoices for spring

Because I live in the great state of Alaska, I’m used to paying more for almost everything. Heating fuel up here can run the average household over $500 a month, and the grocery bill can be twice as much. Although most of us who live up here find that the extra expense is worth it, we are always happy when spring comes around because it will give our wallets a rest from the beating they’ve been taking throughout the long winter. Here are just three of my favorite things about spring that my wallet also appreciates:

Fish

Although grocery prices in the more populated parts of Alaska really aren’t much worse than that of their lower 48 counterparts, those of us who choose not to live in cities frequently pay three times as much for basic food items. That’s why I spend a significant amount of time during the spring, summer and fall fishing. I vacuum seal and freeze the majority of what I catch, but it often isn’t enough to last throughout the long winters, so I’m usually forced to pay grocery store prices at some point during the latter part of winter.

Make no mistake, though — having a freezer full of fish certainly takes the sting out of grocery shopping. It’s healthier than protein sources that are commonly available in the grocery store aisles. Fishing in Alaska is also good exercise, and I tend to need to shed a few pounds every spring due living a relatively inactive lifestyle during the winter.

Warmer Weather Means Relief from High Heating Bills

By the time winter is finally over in Alaska, I’m always happy to turn off the furnace and leave it off for several months. If it gets cold during summer evenings, I just put a few pieces of wood into the wood stove and enjoy a nice fire. Although I try to burn wood whenever possible, it’s hard to keep a consistent indoor temperature using wood alone. I really enjoy the relief I experience during the late spring and summer from high monthly heating bills.

Growing a Vegetable Garden

Anyone who has ever eaten the produce bought in a rural Alaskan store will tell you that the reason they grow their own vegetable gardens is so that they can have good-tasting produce for at least part of the year. Most fruits and vegetables available for sale in Alaskan grocery stores are old and stale. Fortunately, vegetables grow very well in most parts of the state due to the long hours of sunlight. I grow a garden every year and enjoy fresh vegetables on a regular basis during the summer and early fall. When I have enough, I can some of them for use during the winter. Another benefit to living in Alaska is the abundance of wild berries available in virtually every part of the state. I go out and bring home buckets full of them as often as I can, and on good years, I’m able to vacuum seal and freeze a substantial amount.

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