CA

Debt Consolidation Loan Advice to Save You $1,000s

Debt blogger

Finding yourself in debt is irritating and stressful. You dont have extra cash after getting paid. Absolutely no money for goodies and just sufficient enough to survive and get by. You are burdened and dont see any way to avoid it. But it shouldnt be this way! What you need is debt consolidation loan to save you $1,000s

Debt consolidation loans allow you to merge all your current debts into one loan. Youll have one payment that is low-priced, leaving you with spare money even after you pay all your bills. Whenever you merge your debt into one, you minimize the interest rate and begin paying off your debts and would be enable to make your life less worried.

Whats best about a debt consolidation loan is that your credit card debt gets paid-off much faster than making minimum payments. Usually you can eliminate your debt in about 5 years as opposed to 35 years!

You could choose an option of secured loans and unsecured loans. With a secured loan, your personal property would be collateral for the loan. This specific factor should be considered thoroughly because your property would be in danger whenever you dont pay your bills regularly.

But there is an alternate way if you dont want your private property to be secured with your loan and that is taking out an unsecured loan. Nonetheless, you should be aware that unsecured loans have higher interest rates compared to secured loans.

Heres another debt consolidation loan advice: You will only be responsible making payments to only one creditor. In this case, you prevent dealing with numerous debt collectors who may frequently remind you about your unpaid debt.

Another benefit is that you can write off the interest on the loan if the loan is secured by a mortgage. However, check with your accountant to see if there are restrictions.

The most effective debt consolidation firm is the one that satisfies your certain needs. By studying and assessing various consolidation firms, you will manage to select one that is precise to your current financial situation. It is vital that you choose the right company, otherwise youll drown into debt. Start researching and choose the most effective assistance for your situation.

By not simply acting right now, you could discover that you couldnt manage your existing debt and taking on additional late payment charges or fees. Youll not have a dollar in your wallet the following month. If you are left with no money, in that case, consolidating your debts is a viable solution. This is sound debt consolidation loan advice. An alternative to debt consolidation is debt consulting. These experts may reduce your debt balance in half, or more by negotiating with your creditors on your behalf!

Debt Free Solutions is a debt consulting company located in Long Beach, CA. We have been in business for 10 years. We assist Americans across the U.S. to eliminate excessive credit card and other unsecured debt.

Reduce Debt The Easy Way

Debt blogger

How to reduce debt is relatively easy when you follow a few basic tricks, and debt calculations, to help you see when your debt load is leading to the danger zone. Debt is not bad at all if you know how to use it. You should learn how to avoid the pitfalls to stay free of stress brought about by a creeping debt.

You should be aware that creditors use budgeting guidelines in the assessment and approval of credit applications. If your debt exceeds the parameters in their recommended guidelines, then you have a higher chance of your credit applications being denied. Use the following recommended budgeting guidelines (the same ones used by Financial Institutions) to review the items in your budget:

1.Housing should take about 35% of your budget;

2.Transportation takes 20%;

3.Other expenses 20% that includes:

– Mortgage or rent, taxes, repairs, improvements, insurance, and utilities;

-Monthly payments, gas, oil, repairs, insurance, parking & public transportation;- Food,

insurance, prescriptions, doctor & dentist bills, clothing

4. Debt payment takes 15%; and

5. Investments & Savings covers about 10%.

Get the ratio of your debt and your income. You should know the importance of your debt load to your overall financial status. Your debt income ratio is the percent of your monthly take- home pay that goes to paying debts. It can be calculated by taking the total amount you needed to repay your debts each month and divide it by your net take-home pay. Remember to include only the actual amount that goes to debt repayment in the calculation.

If you were able to pay off a credit card, dont close the account right away because if you do, you are actually negatively impacting your credit score. The reason for this negative effect is in the calculation of the Credit to Debt Ratio itself. If you pay off a credit card, you reduce your debt, but, if you close the account, you are also reducing the credit limit you have, and usually by a higher percentage than you are reducing your debt.

Do not settle for the minimum payments on your credit cards. Paying just $10 extra a month on a credit card, above the minimum required payment, can cut your repayment term in half, if not more! So, make that extra payment, however small, do it monthly, and take advantage of the compounding effect of snowballing your way to reduce debt.

Im the CEO of Debt Free Solutions, a debt consulting firm located in Long Beach, CA. I have established business in October, 2000. Im dedicated to assisting Americans nationwide to eliminate excessive credit card and other unsecured debt.

I expose how credit card companies trap Americans into suffering in debt- often for life. I have developed a deep-rooted passion for helping debtors fight back and escape the credit card trap!

I utilize my expertise to analyze my clients financial situation. Based on each debtors unique needs, various programs and strategies are implemented to aid them in dissolving their debt in the quickest, safest, and most cost-effective method possible. I structure my programs to drastically minimize the risks that are inevitable with all debt elimination programs.

I offer our clients much more than a debt settlement company. The vast majority of debt negotiation companies simply settle your debts on your behalf with your creditors- nothing more.

I, on the other hand, provide free services to significantly minimize the risks that are involved in negotiating with your creditors.

Sincerely,

Joseph Hernandez CEO Debt Free Solutions www.debtfreesolutions.mobi (800) 668-8090