Consolidation is a fantastic way to deal with debt issues as it relieves the pressure of paying multiple, high interest bills while also slowly improving your finances. You can do it in many ways, though it will take some time and financial commitment. Consolidation is one of the best methods to take when you find yourself in a tricky situation where your credit score is on the line. It will help stem the financial bleeding and begin your path toward repairing your financial standing. Of course, you should consider several things before taking on any debt consolidation strategy. Should I ..read more

Which Debt Repayment Option is Best for You? If there were an option to get out of debt quickly, painlessly and in a way that was likely to succeed, there really wouldn’t be so much confusion about how to get out of debt. There would be a tiny gleaming gold star in the top right-hand corner of the above graph. Unfortunately, there is no such option. Paying off debt, unlike getting into it, takes time or effort or extra money, or more likely all three. Anyone wanting to get out of debt needs to answer the questions for themselves about how patient they are willing ..read more

If you have thought about consolidating your debts but heard how difficult it can be to qualify for a debt consolidation loan or even a credit card balance transfer if you have less-than-great credit, you may be discouraged wondering what someone with bad credit can do to consolidate their debts. How do you consolidate your debts if you have bad credit? Individuals and couples who have a poor credit rating may struggle to qualify for a debt consolidation loan or a credit card balance transfer offer. However, they can still take advantage of a debt consolidation program ..read more

The reality about debt is that it’s easy to get into, but difficult to get out of. Depending on the amount of debt you owe and your financial situation, it can take several years before you can eliminate your debt. Your own personal spending habits, as well as your income, also play a key factor in your capacity to pay off what you owe. Despite what may seem like obstacles, it is entirely possible to manage a large amount of debt. This is where debt settlement or debt consolidation are routinely researched. Let’s look at what differences the two repayment strategies have between them and ..read more

Not knowing how to manage your finances can often stem from a simple misunderstanding of financial topics. This might lead to increased and unnecessary levels of stress. In fact, over 53% of Americans feel anxiety when thinking about their finances, according to a financial study by the Financial Industry Regulatory Authority, also known as FINRA. So, how can we change this trend? Well, if you know how something works, it boosts your confidence. Consider the role that financial literacy plays in your everyday life when making financial decisions. Knowing and understanding different financ ..read more

Buying a house is one of the biggest decisions that we make in our entire lives. It’s natural to feel apprehensive about it. It’s challenging enough to qualify for a mortgage if you have a good credit score, so it’s only normal to worry about your chances of getting a house loan approved if your credit doesn’t look so good. You’ll be delighted to hear, though, that while buying a house with bad credit can prove a bit challenging, it’s not entirely impossible. Far from it. There are a few things that you can do to improve your chances of landing that house deal. Let’s go ahead and explore ..read more

Recent Survey Supports Data from Federal Reserve Indicating that the COVID-19 Pandemic Created Major Shifts in Personal Savings and Credit Card Spending In April of this year (2021), Debt Reduction Services conducted a survey among 517 U.S. residents to gain insight into how individuals handled the financial burden of the pandemic. Key Survey Statistics: 84% of respondents said their credit card debt decreased or stayed the same in 2020. Nearly 60% of respondents who received a stimulus payment used it to add to their personal savings. 32% of respondents who received a s ..read more

If you’ve fallen more than just a little behind on your bills, you may start hearing from debt collectors. They have a job, which is to get as much money out of you as they can. Dealing with these collectors can cause a lot of stress and you may be unsure of how to respond. If you’re wondering how to deal with debt collectors when you can’t pay, there are a few things to consider. First, is determining how the collector has gotten your information and understanding your rights. Next is knowing your options for both dealing with the collectors and handling the debt. How Did a Debt C ..read more

Need fast cash? Can’t wait until payday? The High Cost of Payday Loans. Perhaps that should read; Need fast cash? Can’t wait until payday? Borrow money for only 400% interest. Payday Loan Fees can run between 390 to over 780% APR depending on the lender. To put it in perspective a Credit Card issuer typically will charge between 10 to 25% APR. As we’ve mentioned in previous posts, there are more payday lending offices in the United States than there are McDonald’s restaurants. And it is no wonder as to why. The payday lending business carries low overhead that yields high returns. I ..read more

Debt consolidation seems like a simple concept. Consolidate your debts from many accounts into a single account. But, it’s not always that simple. There are actually multiple different ways to consolidate your debt. This page will help you discover those ways and decide which one may be best for you. What is Debt Consolidation? Debt consolidation is the process of combining multiple debt balances into one single debt account. This commonly refers to a personal finance process of individuals addressing high personal debt. What are the Two Types of Debt Consolidation and How d ..read more