Free Debt Management & Bankruptcy Articles

Professional Authors - Professional Articles



Debt Management – Take the Driver's seat and be in Control!


Debts are big problems these days and many are suffering because of them. Are you onet of the ones who succumb to these kinds of problems? Do you want to take better control of your debts and your life? Then you should try debt management plans. There are a lot out there that offer debt management like debt consolidation and debt settlement.

Between debt consolidation and debt settlement, you choose the one which is most suitable to your situation. Debt settlement companies try to convince your creditors to cut down your debts for an upfront payment to them. For example, you owe a company $1000 and you will request to just pay $600 money down and put away the other $400. This seems to be a quick and easy way to get out of your debt and an unfair way for the lending company.

However, the company accepts this offer as they know that they will spend more on waiting for the whole amount to be paid off so they will take the money. For the borrower, it is an easy way out however this kind of debt transaction will reflect on your credit history thus affecting your rating score. When companies see this transaction on your credit history, they might not accept your application for another loan for a car, house, etc, and it may even cost you a job or a promotion.

On the other hand Debt Consolidation is rather useful for those who have a lot of debts to different credit companies. Debt consolidation works by combining all your existing debts into one consolidated debt. It offers easy management as you will receive only one bill at the end of the month and it has a lot less monthly payment bill than your previous debts. The downsides of debt consolidation are a longer debt payment period and the requirement of collateral.

Although you would pay less monthly, you would be paying for a longer time period which it follows that the longer the period the more money it will cost in the long run. Next, consolidation requires collateral such as a house, a car, depending on how much you owe. This brings the risk of having your property possibly forfeited if you miss a payment. The collateral serves as insurance for the company in the event the Borrower does not pay and this also forces the borrower to pay the bill if he does not want to lose his property.

However good the programs seems for debt solutions, there is always a disadvantage to each. In order to be in control of the situation, the borrower must weigh the odds and choose what’s best for him. Then again, it all comes down to the person’s responsible debt management and being in control.



Comments
maha kumbh commented on 07-Dec-2015 03:39 AM
I am trying to find out some good sites for studying. I used to be looking over bing and google and found your site. Nicely i like your professional blog design and style along with your publishing expertise. Keep doing it.


Post a Comment




Captcha Image






BLOG TAG CLOUD
unsecured loan visualization gambling problem payday loan companies debts initial research credit line children budget understanding software credit checks high interest rate money finances debt free extra money comfortable living house loan reduce debts debt problems honesty invest money professional paycheck info negotiate total balance emergency savings account own money younger children budget ideas doctors monthly payments sickness introductory offers low interest learning experience saving debt programs debt consolidation medical debt mortgage payments unreasonable expectations lose your job borrowing common debt traps cash family budget management tips regain control overspending managing debt credit card company building debts control spending seperate accounts good credit security restrict spending child support debt allowance legal action worksheet loans help credit card traps bad debt management budget sheet injury home debts home equity loans common debt part time job flat broke children saving help with debt bank accounts credit credit reports education losing your job bills become free monthly bill chapter 7 court appearance tax info making payments debt collectors credit bureaus trusted friends discounts medical bills live within means handling money losing a job cable bill debt management advice loan amount paycheck Chapter 13 debt consolidation salary short sale new job full details financial education credit history teaching children finance family assistance home equity spending telephone bills savings account payday loan credit companies asset info receipt household items credit rating account charges domestic support great budget unemployed checking account illness expenses child spending hobbies good debt cancer overcharging government assistance cash card assets creditors debt collection agency secured loan credit repair order report filing bankruptcy save money ill health take control of debt interest rates account fees check card candidate great budget ideas hospital savings income credit card help ongoing bills good credit rating saving money personal finance credit card companies loan harassment liability internet stop harassment debt collector help your rights credit limit lending companies management program repayment plans rent payments budget categories borrow money debt management monthly payment past bad debt management advice debt payment period interest payments credit accounts consumer lawyer account interest credit card debt back support careful handling loan agents spend money loan companies loan lending company payment frequency bad financial decisions debt company overbearing bills less money debt solution get out of debt buying a house purchases utility payments second job fly-by-night credit scores extra payments bankruptcy charitable organisation medical bill job loss budget debt management tips Consolidation Company purchase protection original creditor debt traps debt management mistakes specific budget categories credit company payment behavior piling debts taking responsibility paying out debt implement a budget credit score good budget debt relief agency insurance debt consolidation loans paying bills interest live your life mortgages repay interest rate child support debt bank prioritizing monthly budget installment plan debit card whole family good credit record deb consolidation gambling debts negotiation installment plans debt settlement pay off bill credit cards rebuild good credit pay off debt understanding home equity down payment financial security bad debt social services school jobs investing insurances credit report credit card phone calls need money repay loans personal finances classify bills checks groceries borrower debt relief car loan more income tracking money budgeting unexpected expenses loss of income modified payment plan deals in writing



Copyright 2016 - Free Info Site Enterprises
Privacy Policy  |  Copyright Policy  |  Website Use Policy  |  Non Endorsement Policy  |  Contact Us  

Finance Blogs
best blogs