Getting Debt Help and Credit Management Advice

Schools often don’t teach valuable and important lessons on personal finance. Even if they do, it can be difficult to integrate lessons to keep a balanced budget when emergencies start requiring the extended use of credit cards. Credit management counseling is unique in that it allows you to sit down one-on-one with a professional and discuss your personal situation. You can get personalized advice about your budget, your income, your expenses and your debts.

Every situation is different, and credit counseling professionals are experts at getting to the bottom of any personal finance situation and finding a way to make it work. They are positive, forthright counselors who will tell it to you straight and help you find a good way out of it. Every budget can be made to work, and they will give you advice on programs to help you save money as well as tips to help you manage your money and credit a little better.

Debt Consolidation

Many people need a little extra help with debt even after getting credit management advice from a professional counselor like Creditguard. This is where the counselor will help them through the process of debt consolidation. Consolidation is a win-win situation for everyone involved. You will pay the consolidation provider a small monthly payment, and in return the provider will negotiate with creditors to get you more affordable interest rates on your loans. They will then make the reduced monthly payments and pass the savings on to you.

There are three major benefits to debt consolidation. First, the consolidated monthly payments are the same as or even less than the cost of making each individual payment. Second, this allows people to pay off their loans up to six times faster than through only minimum monthly payments. Third, individuals can achieve savings of thousands of dollars in interest payments. This money could go toward their houses, groceries, or other living expenses.

It should be noted that debt consolidation not only helps clients achieve debt relief, it also helps clients’ credit scores. It shows that they make regular payments on all of their credit cards on a monthly basis and helps their debt-to-credit ratio improve much faster. A lower debt-to-credit ratio and a higher credit score means better interest rates in the future, which could lead to financial savings that you may not even have predicted.

If you need debt help or money management tips, get debt relief by contacting a credit counselor today. It’s well worth the time and you will be glad you did.

Consolidating Student Loan Debt

student loan debt can be a burdenStudent loans are fast becoming one of the main sources of debt for people throughout the United States. In April 2013, for the first time, the amount of student loan debt held by Americans surpassed credit card debt, making it the most widely held source of debt.

Unsecured debts like student loans, credit cards, personal loans and medical bills can seem daunting, but there is a solution to help you find relief. This credit management solution is known as debt consolidation, and it has been used by hundreds of thousands of people across the country to get their lives back and pay off their debts more quickly than they would have ever thought possible.

If you are concerned that you’ll have to spend the rest of your life paying off your debt, consolidation is for you. College shouldn’t be a ball and chain. Consolidate your student loan debt today!

How Consolidating Student Loan Debt Works

Most people who take out student loans have 10 or more separate loans from various sources, including federal loans, private loans and other types. A student loan debt consolidation service will set up an account to which you can pay a single, affordable debt service payment. The service will then make monthly payments to each of your loans. Some consolidators like CreditGuard of America work with both student loan debt and other forms of unsecured debt. In this case, all of your loans will be paid monthly in exchange for your single debt payment.

This payment will be much less, yet will go much further towards getting you free from debt than if you hadn’t consolidated. This is because debt consolidation programs negotiate on your behalf to reduce your monthly payments, lower your interest rates and waive your fees. This translates into thousands of dollars in interest saved, debt paid off dozens of years sooner, and more money going towards important things like savings, rent and groceries.

Credit Counseling and Student Loan Debt Consolidation

Now that you’re done with school and about to be free from debt, you will need to have a solid grounding in money management practice. Most debt consolidation services also include credit counseling to help you learn how to be financially prudent. The basics of budgeting and household finance will be discussed, problem areas will be identified, and tips will be provided to help you stay within your means.

Breathe Easier with Credit Card Debt Help

Does it seem as if it will take 100 years to reduce your credit card debts to zero? If this is the case, you will benefit greatly from credit card debt help with debt consolidation. However, don’t think that this is a debt consolidation loan. You will not be asked to offer your home as collateral for yet another loan that will not help you reduce your debts. The credit card debt help you will receive from a debt consolidator will help you pay your creditors in full in less time than it is currently taking you.

What Does a Debt Consolidator Do?

Debt consolidation requires that you work with a debt consolidator, and is extremely helpful to you because they find ways for you to lower your debt and inform you of your debt management issues. You are within your rights to call your creditors and ask them for a reduction in your interest rates so that your monthly payments will be lower. However, this process can be very stressful for those who are unfamiliar with performing these types of negotiations.

Debt consolidators like Credit Guard have extensive experience negotiating with their clients’ creditors so that the interest rates can be lowered. They often work with the same credit card companies, so they know exactly what they need to say to these creditors to obtain an agreement that would be advantageous to you. This would be an enormous help to you if you have been experiencing a great deal of stress whenever you find it necessary to talk to your creditors.

How Debt Consolidators Help You Reduce Your Debts

Maybe you needed to pay some of your bills after the due date passed. Your creditors may have added late fees or penalties to your balances because of it, and this made it even more difficult for you to extricate yourself from this financial hole. Debt consolidators also have experience having these late fees and penalties removed so that your balances will be lower.

After a debt consolidator begins to work on your case and is successful in obtaining agreements from your creditors to lower the interest rates and waive the late fees, you will no longer be required to pay your creditors. You will need to send a monthly payment to your consolidator for the amount that your creditors agreed to accept, but your consolidator will pay each one of your creditors from this amount.

How Debt Consolidation Saves Money

With credit card debt relief from a debt consolidator, you can relax because you won’t be juggling several credit card payments throughout the month. Your new monthly payment will be less than the amount that you are currently paying all of your creditors, and you will reduce your balances to zero in less than five years rather than 30. You will finally be able to take a breath of fresh air.

Credit card debt relief with a debt consolidator will mean that you aren’t risking the loss of your house. On the contrary, debt consolidation will make it easier for you to afford your mortgage payment because you will be spending less of your hard-earned money on credit card payments. Get started with debt consolidation today and leave your financial troubles in the past.

Major Credit Bureau Provides Credit Management Tips for Consumers

get out of debt with help

Just before Independence Day 2013, one of the three major credit bureaus issued an official press release urging everyone to celebrate freedom from debt. The bureau stated that the best way to stay free from debt is to implement healthy credit management techniques and practice them throughout the year. Those who do not know where to go to learn effective financial habits can start by contacting a reliable debt consolidation organization.

Reevaluate Finances in the Summer

According to the credit bureau’s vice president, who is also in charge of the consumer education division, summer is the perfect time to reevaluate financial resolutions made at the beginning of the year. It is around the halfway point of the year when people forget about or lose track of their resolutions, and a summer checkup can help determine whether adjustments need to be made.

Lower Debt to Improve Credit Scores

Credit bureau officials state that one of the best ways to improve your credit is to lower your outstanding debt. This makes you look more attractive in the eyes of new creditors when it is time to make a purchase that cannot be avoided, such as a car, a new home or a college education for your children. In addition, a better credit rating provides incentive to lenders to lower their interest rates, which can save you thousands of dollars over the term of a new loan.

Start With the Facts

In order to get out of debt, it is suggested that consumers begin an assessment of their financial situations by collecting all of the facts. Information should be gathered from accounts of all types, including the following:

  • Bank accounts
  • Investment accounts
  • Lines of credit
  • Outstanding loans
  • Unpaid bills

In addition to account information, consumers should also make a list of their total income and expenses for each month. This will provide you with an estimate of your disposable income, which can be used to determine how much you can spend on reducing your debt.

Debt Negotiation and Consolidation

Many consumers have been pulled out of adverse financial situations with the help of debt consolidation organizations. For a low fee that only covers program costs, a reputable debt consolidation company like Credit Guard can renegotiate your debt directly with your creditors. As a result of these negotiations, you may be given lower interest rates and lower monthly payments that fit into your budget. In addition, the debt relief organization will create a debt program that allows you to make one monthly payment instead of separate payments to each creditor. This makes paying bills extremely simple, and it reduces the chances that you will accidentally miss payments and incur late fees.

Credit management organizations also provide several educational services and consumer credit counseling. These courses or one-on-one sessions can teach you how to create and live within a budget, how to avoid new debt and how to lower expenses. Even if you are unsure whether you need help with credit management, you have nothing to lose by taking advantage of a free consultation.

How Does Paying of a Credit Card Help Your Credit Score?

If you are reading this article, then chances are good that you need some help paying off your credit card. Don’t worry because you are not alone. The majority of people owe money on at least one credit card and it is because of this reason that they aren’t able to achieve true financial freedom. Not to mention, a poor credit score may affect their ability to acquire vehicles or homes in the future. With that in mind, let’s take a look at how paying off a credit card can help your credit score.

Making Payments on Time

Nothing will accumulate more debt than making your credit card payments late. If you miss a payment then the amount of money that you owe is going to compound. As a result, making the next payment is going to be even harder. If you can avoid this “snow ball” effect from happening in the first place, you won’t need to acquire credit card help for helping you reduce the amount of debt that you owe.

Making More than Your Minimum Payment

This is probably a credit card help tip that you’ve heard a lot but it cannot be stressed enough. By making more than your minimum payments, you’ll quickly be able to reduce the amount of debt that you owe. If you only make minimum payments then chances are good that you will end up paying thousands of dollars in extra fees and interest. And this may cause you to only end up getting frustrated with your financial situation.

Let’s take a look at an example: if you have a balance of $1,000 on your credit card and your interest rate is 20% then your minimum payment will probably be 5% of that. That means that you should be paying about $10 per month. However, if you do that then it will take you years to pay off your credit card at which point you would have invested thousands more than you had originally expected when you signed up for the card.

Conclusion

Getting credit card help is the first step that you should take when it comes to reducing the amount of debt that you owe on a specific card. Remember that by making your payments on time and in full, you’ll reduce the amount of power that interest rates have over you.