Oct
27
3 Tips that can help pay your bills
Filed Under credit card debt, credit tips, debt, debt consolidation, debt management, debt problem, debt reduce, debt relief, debt tips, financial, money | 2 Comments
Haha, i guess many people have some trouble like this. Its happen many times right? 
It’s a situation that no one wants to find themselves in, but unfortunately some of us do. Your bills keep coming but you don’t have the money to pay them. When this happens, there are two ways to deal with it. All too often, people choose to bury their head in the sand and pretend like it’s not happening. This only makes the problem get increasingly worse over time. The other way to deal with it is to face it head on, but this is easier said than done.
Here are some suggestions for dealing with it correctly.
1) Make a list- The first thing you need to do is make a list of all of the bills you must pay. For example, your list may include a mortgage, car payment, college loans, insurance and credit cards. For each of these payments, find someone to contact. The fact that you took initiative will usually result in a positive reaction from lenders. Be sure to get their name so that you can contact the same person each time. Also, if an agreement is reached, make sure you get it in writing. If you are unable to reach the same person later, you will need proof that you had an arrangement with them.
2) Be wary of quick solutions- The fact is that debt is a big problem, and it is not going to be solved quickly. If someone advertises a solution that seems too good to be true, it probably is. One example of this is debt consolidation loans. The keyword here is loan. It will get rid of your problem for awhile, but in the long run it is just going to be yet another loan you need to pay off. Use this solution with caution. Another thing to watch out for is debt doctors. These are companies or individuals who claim to have the ability to erase your credit record for a fee. This isn’t actually possible, however, and they are just scamming you for your money.
3) Keep the rest of your life in check- If your finances are falling apart, don’t let the rest of your life fall apart with it. Depression will cause inaction and inaction will cause more debt. Try to keep your life as under control as possible. Simple ways to do this are to make sure you get enough sleep at night, and eat a healthy amount of nutritious food each day.
Credit to Sherry L Harris
Ps: So, i just think. Why so many people always late to pay their bills?? 
Sep
29
Debt Relief: Its really Myth?
Filed Under all about banting | 6 Comments
Debt Relief: Myth & Reality
Debt relief comes in many forms — credit counseling, debt consolidation loans, settlement and even bankruptcy. Each solution will help you get out of debt, but the long term impacts and fees can vary greatly. Understand the myth and reality behind your debt relief options. I believe you need to know this:
Myth: All credit counseling programs are the same.
Reality: Unfortunately, there are people and companies out there that make a living taking advantage of people in financial trouble. Please be careful. Please do your homework — check around; ask questions. Beware of hidden fees. If a company requires you to make a payment to them (a payment that they’ll keep) before they will make payment to your creditors — find another company. For more information, read the U.S. Federal Trade Commission article Fiscal Fitness: Choosing a Credit Counselor.
Myth: If I check with multiple Credit Counseling Agencies (CCAs), I may find one with a lower creditor payment than another.
Reality: The creditor benefits you will receive on a debt management program are standardized within the industry. Agencies providing the CareOne service, as industry leaders, work with thousands of creditors on your behalf, allowing efficient and accurate processing of your payments and benefits.
Myth: If a CCA is non-profit it must be reputable.
Reality: There are more than a thousand credit counseling agencies in the United States, having very different service levels, fee structures, and reputations. Find out if the service has member access by phone and online, electronic debt repayment processing, and 24/7 customer service. Also, check out your local Better Business Bureau (www.bbb.org) for complaints.
Debt Consolidation Loan
Myth: A debt consolidation loan is the best way for a homeowner to get out of debt.
Reality: For some homeowners the answer can be yes. But it will depend on several factors, such as the amount of equity in your home, the current interest rate on the mortgage, and the value of your property. However, if you are having trouble paying your credit card debt as it is, rolling it all together in with the security of your home could be a risk not worth taking.
Debt Settlement
Myth: Debt settlement is a good, new alternative to get out of debt.
Reality: If you still can’t afford your reduced monthly payment with credit counseling then debt settlement may be an option. Like bankruptcy, debt settlement may have a lasting impact on your credit report which will affect your ability to get credit at favorable interest rates. Fees for this service vary significantly from company to company, so do your homework. For the differences between debt consolidation and debt settlement, see the Wikipedia entry about debt settlement and the article Debt Consolidation Company vs. Debt Settlement Company.
Bankruptcy
Myth: Bankruptcy isn’t such a bad alternative.
Reality: If you still can’t afford your reduced monthly payment with credit counseling then bankruptcy may be an option. Bankruptcy will have a lasting impact on your credit report (10 years). Filing bankruptcy may also be the most expensive alternative — if you decide to buy a car or a house your interest rates could dramatically increase (more than double). Also, the 2005 bankruptcy reform law has made it more difficult to file for bankruptcy and there are stricter rules in the bankruptcy process. For more information about bankruptcy, see the U.S. Courts Bankruptcy Basics webpage and the American Bankruptcy Institute Overview of Bankruptcy.
Credit to Careonecredit
Jul
27
11 Tips How to Cut your Debt?
Filed Under banting news, credit card debt, credit tips, debt consolidation, financial | 5 Comments
Financial literacy is crucial, and the sooner that individuals develop money skills, the better. By teaching children about money from a young age, parents are giving their kids invaluable resources for the future. Read on for ideas on how to teach money management to children. I believe you don’t want you have huge debt in your life right?
1. Providing an allowance is among the most important strategies to teach children the value of money. They never will learn to manage it if they do not have some of their own. Some experts recommend giving $1 per every year of a child’s age, at regular intervals.
2. Give your child an allowance in such a way that makes saving easy. Instead of giving your child a $10 bill, for example, give him ten $1 bills, so that a portion can be set aside for saving.
3. If your child wants to borrow money from you for some purpose, then consider how it could be a lesson in loans. Charge a bit of interest until he or she pays you back at the end of a very short loan term. He or she definitely will get the impression that it is better to spend what you have than to borrow.
4. Open a savings account for your child at an early age – around kindergarten, or whenever you feel comfortable in doing so.
5. Let your children decide if they want to take money out of their accounts. If you do not allow them to do so, then they might resist against saving in the first place.
6. Explain to your children where your money comes from and how you earn it.
7. Think twice about giving money as an incentive for good behavior. Children may learn that they do “good” things just for the monetary payoff. Perhaps even worse, they may decide that the deed is not worth the money after all!
8. Allow your children to feel a sense of accomplishment when they purchase something that they really want. While certainly part of parenthood is providing for your children, the satisfaction of earning purchases is an important lesson to learn.
9. Strive for consistency when making purchases for your child. For example, if you buy jewelry for your daughter, then do not tell her out of the blue she must use her own money on a specific purchase. Likewise, if your child is responsible for buying his own candy, then do not randomly buy it for him without reason.
10. Explain to your child how different people have different amounts of money. Money is not everything, but you want to make it work for you in the best way possible.
11. Play games with your children that stress the value and use of money, such as Monopoly or Life.
Ps: You can see more at this site to continue read this articles. Its already have 33 tips and you only know half. So, just go and read them now.
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Jul
15
How to counter credit card rates?
Filed Under credit card debt, credit tips, debt consolidation, financial | 4 Comments
Did you think credit card rate kills you?
You may think that credit cards are offered to people for a convenience when the primary reason for them is to generate money to financial institutions that issue them. The credit card companies post interest rates in terms of an APR (Annual Percentage Rate), this APR that they offer from card to card.
As a consumer you should be trying to find the card with the lowest possible interest rate that you can. There are so many differences in the way interest can be compounded on the credit card that you receive. This compounded interest can affect the cost of the money you are borrowing. Interest can be compounded daily or monthly and credit card companies have different ways in which they calculate the balance on which the interest can be applied.
Your credit card debt is called revolving debt because interest that is earned on a principle balance is added back to the balance on which interest can then again accrue. A simple way this is put is the credit card companies earn interest on interest which makes paying off the balances of the credit cards a very costly and timely process for you and in turn very beneficial for them. Still thinking credit cards are a convenience? So, you must learn how to counter it.
Ps: Sometimes, i think credit card its not important anymore. I believe my heart with my girls its more better than have crazy huge debt credit card..
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