Debt consolidation is a last resort for some, and the best saving route for others. What does it mean to you? Debt consolidation is read by the credit bureaus as a negative; the fact that you need to consolidate your debts in order to repay them, means that you have not planned your finances well, [...]
What can you do when the bills due amount exceed what you earn as income? You have two ways to go; 1. Declare bankruptcy and fight your way to a good credit score through the following 7-10 years; or 2. Sign up with a debt settlement agency that can help you come out from under [...]
Why do people go for debt counseling? What’s so great about it? Good financial management principles are often the last thing on your mind when you have plastic money in your hand. But failure to constrain spending can very soon lead you into a financial jam. When you find yourself in such a situation, look [...]
Do not wait until you are totally drowning in debt before you take corrective measures against financial crisis. Learn to read and recognize the early warning signals that point to unmanageable debts and take action in a timely manner. Use a credit consultant for this purpose if you are not sure about how to proceed, [...]
People are divided on debt consolidation as there are two opinions on this aspect. Some say that since this decreases the credit score, it’s not a good idea. It’s true that the credit bureaus, as well as the creditors, consider debt consolidation a sign of financial inconsistency. However, debt counseling bears no significance upon your [...]
The Fair Debt Collecting Practices Act is especially designed to protect you, the indebted, from being harassed by creditors and/or collection agencies. While it’s important that you pay money you have borrowed, in the event you are unable to pay, you will find protection against intimidating action of creditors and debt collectors under this Act. [...]
Most people resort to debt negotiation only when they’re faced with financial problems. The wise person will keep negotiating until he gets the best out of the deal. Just think – even a difference in interest rate of just 0.5% can turn out to be thousands of dollars when you pay over long periods. You [...]
People are often divided on debt settlement. Is it a good thing to do? Or is it something that will precipitate a bad credit score? The answer depends on the circumstances of the person seeking debt settlement. If the person’s first concern is to raise the credit score, then debt settlement is not the right [...]
Of course, you can get loans while in bankruptcy. The only drawback is that the terms and conditions will be crippling! However, there’s a way around this problem. Find a person who will be willing to lend his good name (his or her credit score should be high and his credit report impeccable) as a [...]
When you are on the brink of losing everything and you desperately want a professional opinion where should you go? You have two choices – first, you can go to any leading attorney or legal agency for advice; second, you can go to a reputable and effective credit repair agency or agent. These are the [...]
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