Handling Debt When You’re Out Of Work

Nothing is more stressful than losing your job and watching the bills pile up. It isn’t long before your bank account balance plummets, the collection companies start to call, and you feel like you’re drowning in debt.

Don’t panic. You can keep your head above water and your bank accounts out of the negative. Here’s how.











1. Make job-hunting your full-time job.

reduce-debtGenerating an income is your number one priority and the best solution for your financial woes. It may be difficult to find a job in your area of expertise, and it may be even harder to replace a sizeable income in this economy, but that does not mean you can simply wave a white flag and surrender.

    Take what you can get. Desperate times call for desperate measures. Stop holding out for that management position or dream career. A job flipping burgers, cleaning floors, or raking lawns is better than no job at all. And the money will keep the electricity on and the repo man at bay.

    Go part time. A part-time job is also better than no job. Many people juggle two or more part-time jobs to meet their financial obligations.

    Looking for work is a full-time job. Until you are working a full-time job, you do not have “spare” time. You need to keep handing out resumes, applying to job sites, and combing job boards until you are back on your feet again.

2. Examine your debts

Which debts are a priority? If you have any “secured” debt, meaning that the creditor has the right to repossess an asset for non-payment, you will want to keep those up-to-date. The last thing you need is to have your home go into foreclosure or your car repossessed.

You will also need to ensure that the things you need to survive such as electricity, heat, and food are covered.

Also, consider paying off the items with high interest rates like credit cards. These outstanding balances can turn into massive debts if left unpaid.

3. Contact your creditors

Contact your creditors before your accounts slip into arrears. You may be able to negotiate lower payments, lower interest rates, or deferred payments–any of which will help you stay current on your financial obligations and prevent further stress. If you wait until you have become delinquent, they may be less receptive to your request for help.

4. Apply for Unemployment Benefits

Contact your unemployment office the minute you find yourself out of work. The sooner you get your paper work completed and the wheels in motion, the sooner you will receive your benefits. These funds will definitely help keep food on the table while you conduct your job search.

5. Tighten your belts.

Begin by separating your necessities from the expenses that you can survive without. For instance, you need heat, but you don’t need satellite TV.
Next, devise a budge based on these necessities and stick to it. Eliminate extra expenses until you are back on your feet again and, then, introduce them gradually. You may find that you don’t need some of them after all.
And don’t put extras on credit cards. A mounting credit card debt can be disastrous–growing rapidly due to high interest rates. Snipping your credit cards in half would be the best move.
Unemployment is stressful. Unemployment coupled with debt can feel like an insurmountable burden. So don’t let your debt drag you down to the depths of despair. By sticking to a plan, being proactive, and never losing hope, you can return to financial viability–and restore your satellite TV.

Read more at http://financialhighway.com/handling-debt-youre-work/#tXAYaguMR1VlRDjJ.99

Begin by separating your necessities from the expenses that you can survive without. For instance, you need heat, but you don’t need satellite TV.
Next, devise a budge based on these necessities and stick to it. Eliminate extra expenses until you are back on your feet again and, then, introduce them gradually. You may find that you don’t need some of them after all.
And don’t put extras on credit cards. A mounting credit card debt can be disastrous–growing rapidly due to high interest rates. Snipping your credit cards in half would be the best move.
Unemployment is stressful. Unemployment coupled with debt can feel like an insurmountable burden. So don’t let your debt drag you down to the depths of despair. By sticking to a plan, being proactive, and never losing hope, you can return to financial viability–and restore your satellite TV.

Read more at http://financialhighway.com/handling-debt-youre-work/#tXAYaguMR1VlRDjJ.99

Begin by separating your necessities from the expenses that you can survive without. For instance, you need heat, but you don’t need satellite TV.

Next, devise a budget based on these necessities and stick to it. Eliminate extra expenses until you are back on your feet again and, then, introduce them gradually. You may find that you don’t need some of them after all.

And don’t put extras on credit cards. A mounting credit card debt can be disastrous–growing rapidly due to high interest rates. Snipping your credit cards in half would be the best move.

Unemployment is stressful. Unemployment coupled with debt can feel like an insurmountable burden. So don’t let your debt drag you down to the depths of despair. By sticking to a plan, being proactive, and never losing hope, you can return to financial viability–and restore your satellite TV.

source:  financialhighway.com

Don’t go broke seeking foreclosure help, say housing nonprofits

SAN FRANCISCO—Judith Camelo and her husband, both Filipino Americans, bought their house for $196,000 and refinanced it three times. When she had to retire to take care of her injured husband, their income fell. One day, she saw a man post a piece of paper on their door and leave.

“It was a foreclosure notice,” Camelo says. She saw a loan modification advertisement on television and went to the firm for help. She was asked to pay $975 initially and $1,402 the second time. Then she never heard from them again.

Camelo was just one of the thousands of victims of foreclosure rescue scams, a growing epidemic, according to nonprofit housing counselors. Many of the scams target minority and limited-English speaking communities.    



If asked to pay, stay away

“You shouldn’t be paying for loan modification assistance,” says Leah Simon-Weisberg, legal director of Tenants Together. “If you’re asked to pay, stay away,” she added at a press briefing held by nonprofit housing assistance agencies, hosted by New America Media.

“Go to a nonprofit counseling agency for advice,” says Maeve Elise Brown, executive director of Housing and Economic Rights Advocates (HERA), “they’re given grants by donor institutions like San Francisco Foundation to help out people in housing distress.”

That’s what Camelo eventually did. She sought assistance from HERA, which helped her modify her loan and stave away foreclosure and eviction.

“I say do not trust individual attorneys who say they will help you modify your loan,” says Brown. “I’m sorry to say that some of my colleagues in the law profession cannot be trusted on this.”

Foreclosure scams

Foreclosure rescue scams show no signs of abating, and could increase given the slow reversal of the housing bust. Another 700,000 homes are in the foreclosure pipeline in the state, says Vanitha Venugopal, program director of Community Development and Investment at the San Francisco Foundation.

“One million homes were foreclosed in California during the housing bust, and blacks and Latinos have had two times the foreclosure rates of whites,” Venugopal says.

Her program is devoting $2 million in the next two years in an awareness drive to warn minorities of foreclosure rescue scams and to direct them to nonprofit housing counselors for proper help.

The San Francisco Foundation set aside $5.3 million to help prevent foreclosures through counseling and $4 million for rehabilitating vacant properties.

“In two years, 14,000 people have received counseling, 1,900 homes were saved and 1,334 properties were rehabilitated, but many more people need help and the scams are getting bolder,” she cautions.

Worst hit

Minorities have been the worst hit by the housing crisis, says Kevin Stein, associate director at California Reinvestment Coalition, who blames lending institutions.

“First they were redlining minority communities by refusing to provide housing loans,” Stein says, “then they went into reverse redlining targeting minority communities with highly predatory loans, now they’re swinging back to redlining again.”

While the Homeowners’ Bill of Rights and the national mortgage settlement have mitigated some of the problems, there is lack of enforcement by the federal authorities and lack of compliance and accountability on the part of banks and other financial institutions, Stein says.

“Selling loans to non-banks complicates matters and cash buyers of foreclosed homes for investment worsens the problem,” Stein adds.

HERA’s Brown also accuses banks of refusing to release all their real estate properties on the market, creating a false sense of tightness in the ownership and rental markets. “It’s a form of market manipulation,” charges Brown, “increasing pressures to sell to investor-buyers who out-buy common homebuyers.”

Renters vulnerable

House ownership as part of the American Dream is becoming out of reach, the shortage of rental housing is also compounding the difficulties of working people, says Gloria Bruce, deputy director of the East Bay Housing Organization (EBHO).

As it is, says Cruz, an average restaurant worker must work 75 hours a week to be able to afford a $1,000 a month apartment. The federal definition of “low income” she says is a household income of $46,000 a year. “So a lot of working people are struggling.”

Simon-Weisberg agrees: “Foreclosures of rental properties are displacing tenants, creating false vacancy rates that drive up rents.” She adds that foreclosed landlords exacerbate tenants’ problems by not making repairs or not returning security deposits.

Booming technology companies do not plan for the housing of their growing staff, leaving the problem for local governments to deal with, gentrifying low-income neighborhoods, depleting available housing and driving up rents.

Simon-Weisberg also warns of the rise of “company towns” with “mega-buyers like Equity Residential in Palo Alto and Blackstone in Sacramento” buying properties in bulk, making them unavailable to common homebuyers. Tenants in such company towns, she says, virtually have no protection from their big landlords.

Options available

There are options, EBHO’s Bruce says. “There is a misconception that low-cost housing is public housing—no, there are nonprofits that build and maintain low-cost rentals, but the waiting lists are long.”

Bruce is calling for the passage and enactment of Senate Bill 391 in the state legislature to dedicate funding for low-cost housing.

The housing advocates advise homeowners, would-be homeowners and tenants to “be aware of your rights” and go to nonprofit housing advocates for reliable assistance.

This is crucial, says Cheyenne Martinez-Boyette of Mission Economic Development Agency, because homeowners who are underwater need expert guidance in navigating the “murky channels” of the foreclosure process.

And housing advocates emphasize, it’s really help that no one needs to pay an arm and a leg for.

source: bsiness.inquirer.net

How To Check That Your Credit Score Is Accurate

Did you know that if you are refused credit, you can find out exactly why under the Fair Credit Reporting Act (FCRA) and even if you do business or work overseas there is similar legislation to allow you to do the same, like the UK’s Data Protection Act and the EU Data Protection Directive. I ordered and received a review of my application to see just what they had on my report when they reviewed my credit.








Errors in Credit Reports 

Poor credit ratings are repairable but it takes time – and mistakes on your credit ratings make it all the more difficult. Five percent of people report mistakes in their credit report but if you have minor problems on your credit report, mistakes or not, it shouldn’t take more than a year to get your rating to where you can use it to your benefit again – as long as you continue proper credit habits.

Many times, if the information is incorrect on your rating, it can help to contact the company or agency that claims you missed a payment. This can often rectify a mistake.

Identity Theft

However, it could also be that your debts in question may be registered under someone else’s name and address. It could be that someone stole your identity, or a spouse used your credit card information to obtain their own card. In either case, it helps to find the source of the mistake first and then contact the credit agency with proof that the mistake is not yours. These kinds of services can be tremendously useful.

To make sure you are aware of all transgressions in your rating, complete this basic checklist below:

*Clarify that all your debts are registered under your own name and address.

* Make sure your debts and payments are not made under another person’s name.

*Space your applications over time and apply only for credit you know you have a good chance of receiving. Otherwise, it looks as if you are acting in haste and irresponsibly applying for as much credit as you can.

*Show you are a responsible borrower by spending very small amounts on your credit card and then paying it all back. This keeps you from paying interest costs as well as showing that you are responsible.

*Make sure you cut in half and shut down any and all credit cards you don’t use.

*Keep away from jointly financing with someone who has a bad credit rating, which may affect your own rating adversely in the long-run.

*Look for outdated information on your credit report and update it.

*Keep a detailed record of what you do when you’re rectifying issues on your report so that you can have all the evidence at your fingertips. Make sure you keep originals in your files and send only copies of documents and correspondences.

*When contacting a credit agency to dispute an item, make sure you have all the proof you need. Creditors are required to resolve issues within 28 days and update your record.

I can tell you it will make a world of difference on your credit if you complete this checklist. More information can be found at this site and others like it.

source: financialhighway.com

5 Financial Tips for Starting Your Marriage Out Right

Marriage is a huge life decision. Your marriage will affect all aspects of your life, including your finances.

If you are planning on getting married, it’s important to start out your life on the best possible footing. This includes starting out on the right financial foot. Before you tie the knot, here are 5 tips that can help you avoid some of the financial pitfalls that can come when you combine finances:

1. Be Honest about Your Finances

Before you get married, you need to have a financial show and tell. Be honest about your debts and where you stand. Your partner should also be forthcoming about his or her finances. Get it all out there on the table so that you can see what your combined finances could look like.

Once it’s out there, you can also get a good idea of where you need to go from there. Seeing the big picture can help you figure out how to improve your finances and make a plan for achieving your shared goals.

2. Determine Your Shared Financial Priorities

Next, you need to make sure that you have some shared financial priorities. What are the things you want to accomplish together? Do you want to buy a home?  Have children? Save for retirement? Use your money to travel the world? Give to charity?

If you start spending, and you have different priorities, one (or both) of you is going to be very unhappy if you are unwilling to compromise. When you aren’t spending money on the things that are important to you, it starts to feel as though you are “wasting” your money — and no one likes that feeling.

Make sure that you come up with shared financial priorities, and that on items that you differ on, you come up with a way to ensure that both partners are able to spend money on what’s most important to each.

3. Plan a Sensibly Priced Honeymoon

My husband and I didn’t have what many would consider a “real” honeymoon. We spent a couple of days in New York City. However, our honeymoon was very affordable. There are some that recommend you choose a honeymoon that you can pay off within a year. I prefer to save up for a honeymoon. Since my husband and I had something of a whirlwind romance, there was no time to save up for a grand vacation. And we had to be back at school a week later anyway.

Don’t plan a honeymoon that you will both regret as you continue to pay for it year after year. The same is true of your wedding. If you know that both of you won’t mind paying for the wedding and honeymoon for the next five years, then go all out. But you have to agree that it’s something you both feel is worth going into debt for, and worth paying all the interest on.

4. Create a Spending Plan that Works for You

Work together to create a spending plan that works for your situation. If you have separate accounts, you need to figure out who will pay what bills. Should you set up a joint account and each of you contribute money to the account to cover shared expenses?

Also, figure out how much you can afford to spend on groceries, entertainment, and other items. Look at your income and your expenses, and note recurring costs like insurance premiums, housing payments, and retirement account contributions.

You will also need to find out about obligations your partner has (and share yours). While debt is an obvious obligation, your spending plan will also need to take into account the possibility of child support and alimony.

5. Be Wary  of Taking on Your Spouse’s Debt

You don’t have to be responsible for your new spouse’s debt. But you have to be careful to keep it separate. Debt incurred before the marriage only becomes your responsibility (in most cases — check your state law) if you are added to the account, or if you co-sign to refinance the debt.

Think long and hard before you take on your spouse’s debt. You might find that it makes more sense to encourage your spouse to carry on with paying down his or her own debts.

source: financialhighway.com

5 Things College Grads Need to Know about Credit

With many students graduating from college, there are thousands of individuals venturing out into the “real” world for the first time.

Graduation often marks the first time that young adults begin to make their own money decisions, and begin to understand the consequences of their financial choices.

As graduates begin the next phase of their lives, here are 5 things they need to know about credit:

1. Good Credit is Vital

 

Many students underestimate the importance of good credit. However, building a good credit history is more important than many people realize. Good credit can mean that you save money on insurance premiums, and that you avoid paying a security deposit when you purchase cell phone service. Good credit can save you money, and even help you avoid being passed over for a job.

Not only that, but if you want to be able to complete certain transactions, such as buying a home, you need good credit — especially if you want to avoid paying thousands of dollars due to higher interest rates.

 2. Credit Cards are Loans

It’s easy to mistake credit cards for a source of money. However, they represent loans. While credit cards can be a fast way to build credit, they also require some restraint. One of the most important things to recognize is that the money isn’t yours. You’re borrowing it from the credit card issuer, and if you carry a balance, you will be charged a high rate of interest. Rather than treating credit cards as another source of available money, they should be treated as loans — since that is what they are.

 

3. On-Time Payment is the Most Important Thing You Can Do

 

The biggest factor influencing your credit score is your payment history. This means that you need to make sure that your payments are on time and in full. If you mail in a payment, make it a point to send it at least 10 days in advance (two weeks is better). If you pay online, schedule your payment so that it “arrives” in plenty of time.



Missed payments can quickly drag down a credit score. Create a schedule so that you know when your payments are due and pay them on time. Realize, too, that non-credit payments can also affect your score. Missed medical bill payments and missed rent payments can be reported to the credit bureaus and pull down your credit score.

4. You Don’t Have to Get Into Debt to Have Good Credit

 

Many people think that building a good credit profile means that you have to get into debt. While it’s true that you often have to use credit in order to build a credit profile, this doesn’t mean that you need to be in debt.

You can build your credit history with the help of a credit card, but you don’t need to carry a balance and pay a high rate of interest. Pay off your credit card each month, using your card as part of your budget. As long as you are careful to only buy what you already have the money for, it’s possible to avoid getting into debt.

Carefully plan your purchases, and you can build a good credit profile without becoming overwhelmed by debt.

5. Alternative Credit Scoring Models will Cost You

 

There has been a move toward using alternative scoring models that don’t rely on credit. These models claim to use items like rent payment, utility payments, and other payment histories to help build a history that shows that you are responsible with your money.

While these alternative scoring models can, indeed, help you establish some financial credibility, you will pay for these services. Often, you have to pay a fee to set up a situation by which an alternative reporting agency will gather information about your payment activities. Additionally, you have to convince your services providers or landlord to agree to report to these agencies.

Some agencies, like eCredable, will get the information for you just as you apply for loans from partners. However, you have to pay for this service, and the information is no longer “current” after 60 days or so.

While you can use alternative scoring, it’s a long process, and there’s no guarantee that it will work.

source: financialhighway.com

Bad Credit Effects Go Beyond Your Finances

When we think of bad credit, many of us think about the ways that bad credit can harm our chances at getting a loan. Bad credit can lead to higher interest rates, which can cost more money in the long run. Part of borrowing smart is making sure that you have good credit so that you pay the lowest possible interest charges.

However, paying more money for your loan is not the only way that bad credit can hurt you. Poor credit can harm you in other ways — including causing you problems in your personal life.



Emotional Stress

 

In many cases part of the reason consumers have bad credit is due to their high levels of debt. Your credit score suffers when you have high credit utilization. If your credit cards are maxed out, it can weigh on your credit score.


The poor credit score isn’t your only problem. When you have that much debt, it places emotional stress on you. This emotional stress can affect your mental and physical health at home. Emotional stress can cause anxiety and depression, and lead to difficulty in your personal life.

When you are stressed about money, as evidenced by your bad credit, it becomes difficult to effectively manage your emotional state — much less enjoy financial security.

Relationship Problems

 

Your bad credit can also prompt relationship problems. Money problems can lead to fights about money, and place strain on relationships. Disagreements about how to tackle the bad credit situation, and the bad debt situation, can lead to difficulty in your romantic relationship.

However, bad credit can also affect other relationships as well. Your stress and anxiety regarding money can lead to you having less patience with your children, and with other people in your life. You might be embarrassed to participate in activities with others, or afraid that they will learn about your credit problems. If this is the case, it can cause strain in your other relationships, and lead to problems relating.

Trouble Finding Housing

 

Another difficulty that can come from poor credit is difficulty finding housing. If you rent, some landlords will check your credit before approving you. This can mean that you don’t qualify to live in the apartment or house that you are interested in.

In some cases, you might be required to pay a larger security deposit, or pay first and last month’s rent — even if someone else who doesn’t have bad credit wouldn’t have to pay such a large amount of money up front.

Having bad credit can limit your opotions and result in you not being able to live where you want. If you can’t afford the larger security deposit, or if you are denied altogether, you might be forced to live somewhere you don’t want to. This can be a disappointing state of affairs — especially if the results mean that you are farther from amenities you are looking for or if your children won’t be in your preferred school district.

Passed Over for a Job

 

No, an employer isn’t supposed to look at your credit score when making a decision about whether or not to hire you. However, an employer can look at your credit report; at least a version of your credit report is available for employer perusal.

If you have poor credit, and you are applying for a job where you might have access to proprietary information or if you are going to be working in security, an employer might worry that you are vulnerable to bribery or other issues. While you will have to give your permission for a potential employer to check your credit, withholding that permission might indicate that you do have something to hide.

With more and more employers using credit checks as part of the overall background check, having poor credit could hurt your long-term career prospects.

Bottom Line

 

Your credit doesn’t just affect your loan situation. Your personal life can be affected by poor credit, and it can also have far-reaching effects on your finances and life beyond just what happens with your debt. As a result, it’s vital that you work to improve your credit score.

 source: financialhighway.com

The Emotional Effects of Debt and How to Deal

Debt can send out finances into a downward spiral fast. But besides being detrimental to our finances, there is also a strong emotional aspect to debt.

Denial

Often with overwhelming debt, people choose not to even deal with it. They let bills pile up and may not even realize how much they owe and try to ignore it. But denial is only going to make things worse with late and delinquent payments resulting in bad credit reports, higher interest rates, and late fees which lead to even more debt.


How to deal: Instead of hiding from it, deal with it head on. As difficult as it may be, the sooner you face the debt, the sooner you’ll be able to take steps to get rid of it. Write down every bill you have and the interest rate to make a plan on how you will start working towards getting out of debt. Call your debtors to see what type of payment plan you can work out with them.


Stress

Watching bills pile up and getting calls from people you owe can easily lead to stresss. Wondering how you’ll get out of debt and not seeing a clear solution is a stressful situation as well. Often people in debt will stress about mistakes in the past and stress about what the future brings instead of concentrating on what they can be doing this moment.

How to deal: The first step is to start working towards getting out of debt. Make a plan to cut spending to put more money towards debt and to make extra income. Having a plan will reduce the stress. Try the National Foundation for Credit Counseling’s budget calculator to create a plan that’s best for you.  Also, don’t let the debt consume you. Take time for free or cheap stress reducing activities like exercising, getting together with family and friends and reading and writing.

Embarrassed

 

It’s not a surprise if you’re embarrassed by the debt you have. You may feel ashamed and regretful of the mistakes you might have had or feel that you are alone with having debt. Unfortunately, having debt is common. According to Creditcards.com, the average American household has $15,950 of credit card debt.
How to deal: Understand that you are not alone in dealing with debt. Everyone makes mistakes or has events happen outside of their control that may lead to debt. Instead of being embarrassed, be proud that you are doing everything you can to get out of the debt.

Anger

 

Sometimes it’s easy to be angry at and blame a spouse or family member for digging you into debt. You may be angry that your spouse lost a job or took a pay cut and as a result, caused you to accrue debt. It’s estimated that one of the main reasons why couples fight or get divorced is because of arguing about money.
How to deal: With patience and communication, this is a time you can pull together with your spouse instead of breaking apart. It’s okay to calmly talk about your anger and disappointments together, but do so in a way that is productive instead of hurtful. Work together to come up with a plan for how you will rectify the debt.



Fear


It’s scary to not know how you will get out of overwhelming debt. You might also fear creditors calling or losing your home or car. When you’re trying to figure out your next step, it’s scary if you’re not sure what to do.

How to deal: Visit the U.S. governments website on dealing with debt to ease your fears and learn what to do. Once you’ve accepted any mistakes and start making steps towards getting out of debt, you’ll be able to lose some of  these fears. Don’t fear the people you owe, instead talk with them about your options for repayment.

Keep in mind that getting out of debt will take plenty of patience, planning, communication amongst both family members and people you owe, and a lot of hard work.

source: financialhighway.com

Do You Need to Be Fit to Apply For Life Insurance

Each life insurance provider has different requirements and different ways of evaluating the insurability of its applicants. While some providers will require medical and blood tests, others will just ask a series of questions over the phone to determine whether they will insure you or not.

When you apply for life insurance, the insurer will look at a number of factors to decide if you are insurable, and how much to charge in premiums if they decide to insure you.

Insurance is all about risk. The insurer wants to find out how much of a risk you are before they decide whether to insure you. In order to find out how much of a risk you are, most insurers will conduct a medical exam over the phone.


Different insurers will ask different questions, however, most will cover the following:

• Your age, gender, and marital status,
• Your height and weight,
• Your medical history,
• Your family’s medical history,
• How to contact your doctor,
• Your lifestyle habits, such as smoking, drinking, drug-taking, and exercise,
• Your income and occupation,
• Any dangerous hobbies,
• How much life insurance you want.

As for whether you have to be fit to apply for life insurance, it will really depend on the insurer. Most insurance providers will ask about your level of fitness, and may check that against your height and weight, your blood pressure and various other factors. If you are medically obese, it may mean you are a higher risk in the eyes of the insurer.



Once you have answered these questions, the insurance provider may then contact your doctor to obtain a copy of your medical records, and they may ask you to attend a clinic to check up on any answers you gave, or to undergo blood or urine tests.

However, many insurers offer life insurance without the need for a physical medical exam. While you may think this is the perfect way to sneak things past the insurer, it’s never a good idea to lie when applying for insurance.



It’s best to shop around & get quotes from different providers, for instance, you can visit Suncorp by clicking here and speak with an industry leading professional, who can help you make an educated decision.

If a life insurance provider finds out that you lied – or even held back certain information – on your application, any claims you make in the future could be denied.

Once the insurer has all the information they need, they will look at the numbers, evaluate your risk, and then let you know whether they will insure you, and if so, how much your premiums will be.

It’s worth remembering that different insurers have different guidelines on risk, and different ways of evaluating your application. If your application is denied with one insurer, spend some time researching other possibilities, and if you find a suitable provider, put in an application. You might find they can offer what another insurer cannot.

source: financialhighway.com

How to Sabotage Your Credit Score

You don’t need a good credit score, right? After all, do you really need lower interest rates? Plus, lower insurance rates are kind of over-rated anyway.

If you are ready to really take your credit score down a notch or two, here are some solid ways to take your rating to new lows:






1. Pay Late

One of the best ways to bring your score down in a hurry is to pay late. Since payment history accounts for the largest chunk of your credit score (35%), paying late can be one of the best ways to drop your score.

Even better is if you can skip a payment altogether. Skipped payments can weigh on your credit score like few other individual items. It’s also worth noting that an account doesn’t have to be credit related in order to affect your score. Repeated missed payments or late payment made to utility companies or landlords can result in reports made to the credit bureaus. And never underestimate the power of ignoring payments altogether and having your account sent to collections.

Bigger payment issues, like foreclosure or filing for bankruptcy can result in a 200 to 300 point drop in your credit score. Now that’s the big time.


2. Add More Debt to Your Budget

The more debt you use, the lower your credit score. With credit utilization accounting for 30% of your FICO score, you can do some serious damage just by running up the credit card bills. If you are squeamish about paying late or missing payments, you can live beyond your means and just add more debt.

If you begin using more of your available credit, your credit score will reflect that. Someone with a good credit score will try to keep credit utilization to no more than 30% of what’s available. But if you want to keep your score low, you need to pile the debt higher. Carry a balance from month to month, paying only the minmum or a very little more, and you can work on building up your credit utilization.


3. Ignore Your Credit Report

You can’t improve what you aren’t aware of. One of the best ways to stay in the dark about your situation, and to keep your credit score low, is to ignore your credit report. Your credit report is a history of your credit related transactions. However, sometimes the information is inaccurate. This inaccurate information can impact your credit score.

Now, if you’re committed to keeping a low credit score, you don’t need to even look at your credit report. No reason to dispute errors if they are helping keep your score down. Plus, ignoring your credit report can leave the door open for identity thieves. When one of these scammers open an account in your name, that can be a great help in bringing down your credit score.


4. Apply for Lots of New Credit

If you are running out of room on your current credit cards, you might consider getting a new credit card. Applying for lots of new credit can be a great way to bring your score down a little bit. It’s not as dramatic as missing payments, but this strategy still has its place.

When you apply for a lot of new credit, it can appear that you are trying to run up your balances. Several hard inquiries into your situation in the space of a few months can lower your score a little bit. Soft inquiries, like those for “pre-approved” offers won’t bring down your score, though. If you really want to create maximum impact, you need to get out there and apply for more credit.

source: financialhighway.com

How to Keep Your Child Safe on an iPad

Child proofing is a rite of passage for parents with young children: locks on cabinet doors, gates on stairs and clips on book shelves. And this safety-first mentality needs to extend to kids toys, experts warn, especially the iPad.

“It’s very common for kids to use iPads these days more so than using computers,” says Jinny Gudmundsen, author of iPad Apps For Kids For Dummies. “Parents unfamiliar with the technology open it up, turn it on and don’t realize they can customize it to become more user friendly to kids.

Children as young as one are learning to swipe their way to fun and games on tablets, but parents need to create safeguards to make sure they aren’t exposed to inappropriate content.

Here are ways to ensure your child and iPad are safe from each other.

Safety Tip No.1: Disable In-App Purchases

Apps are the heart and soul of tablets and they can be easily downloaded in a matter of seconds—which is convenient, until kids starting buying apps without parent consent.  Not only can this expose young users to unsuitable content, it can also rack up a  big bill.

And just because an app is free, that doesn’t mean they can’t rack up a big tab. Gudmundsen says many of the free apps make money by giving players the option to spend real money on things in the game. Those little purchases can end up to a hefty bill. The problem has become so widespread that it sparked a class action lawsuit. Late last month Apple settled a class-action lawsuit related to app purchases made by children without the consent of the account holder. Apple agreed to provide a $5 iTunes store credit to as many as 23 million people who were affected, according to Reuters.  Those that claimed $30 or more were offered a cash refund from instead.

“These in-app purchases are frequently confusing to kids who have difficulty distinguishing between buying things with in-game currency and buying them with real money,” says Gudmundsen. To prevent in-app purchases, parents need to not only enable a password but close the 15-minute window where another purchase can be made without typing in your password.

Parents can even choose to block In-app purchases altogether.  “If you opt to let your kids explore these games, make sure the In-App Purchases option is ‘Off,’ or at least make sure that you set the password requirement to ‘Immediately’,” she recoommends.

Safety Tip No.2: Set Media Parameters

The Internet offers a wealth of information—both good and bad.  but it. To prevent a child from accessing anything they shouldn’t when using the iPad, parents need to set restrictions.

“The iPad allows you to set the age appropriateness of the media your kids use,” Gudmundsen says. “The setting you want is called ‘Allowed Content’, and you’ll find it under ‘Restrictions’.

Parents can restrict music and podcasts, movies, TV shows, books and apps. Parents can choose age categories for apps including 4+, 9+, 12+ and 17+. If the parent chooses 4+ it’s essentially a G rating while 17 + can be considered a R rating.   

Safety Tip No.3: Turn Off Location Services  

Many apps ask for or rely on a user’s location, but experts say not to allow this if kids use the device.

To disable this feature on the iPad, go to ‘Settings’ and then turn off ‘Location Services’’.  This prevents strangers from being able to locate a child user and retailers from sending targeted advertisements to kids.

This restriction doesn’t prevent using any app that requires a location, if an apps needs it, say for instance one for star gazing , Gudmundsen says the app will alert the user to enable the location feature. Just remember to disable it when you are done.

Safety Tip No.4: Buy a Protective Cover

iPads are expensive and kids can be destructive, so experts advise parents find a sturdy cover to protect the gadget. These covers cost anywhere from around $30 to $80, and can be found at electronics retailers and/or through Apple. “Children drop things,” says Gudmundsen. “A protective cover puts a lot of padding around the iPad.”

source: foxbusiness.com

7 Lifestyle Habits that can Improve Your Finances

Too often, we separate our lifestyle decisions from our financial decisions. However, what we choose to do in terms of day to day living can impact our finances quite a bit. Before you assume that your lifestyle choices have no impact on your finances, consider the following 7 lifestyle habits that can improve your money situation:


1. Eat Better

One of the best things you can do for your health is to eat better. Healthy meals can not only help you feel better about your body, but they can also help you save money. First of all, creating a list and putting together a healthy meal plan can mean that your shopping experience is more cost efficient. Do yourself a favor, and plan to buy more raw ingredients, and then make your food at home. You will have healthier meals, and you’ll spend less on pre-packaged and pre-prepared foods. Plus, being healthier almost always leads to lower costs in the long run.

 2. Exercise at Home

Staying healthy requires some level of physical activity. However, you don’t need to pay for an expensive gym membership, or even expensive equipment at home. There are plenty of frugal ways to get exercise. Your own body’s resistance can provide strength training, and there are any number of cardio activities that you can do without spending money on expensive memberships and equipment. Exercise more to improve your health, and save money while doing it.



3. Get Adequate Sleep

Sleep is one of those things that we often under-rate. However, sleep can be an essential part of good health – and it can help you save money. Those who get adequate sleep are more likely to practice self-control in all aspects of life. A tired person makes poor decisions, and that includes spending decisions. Get a good night’s sleep, and you will make better financial decisions, and you will have more self-control when confronted impulse purchases. On top of that, feeling well-rested can also provide you with increased productivity, helping you make more money, or work more efficiently.


4. Maintain Your Things

Take care of what you have, and you won’t need to make as many purchases to replace items that wear out. Take care of your clothing, and you won’t need to buy new outfits as often. Regularly maintain your car, and it will run more efficiently, as well as last much longer than a few years. If you take good care of your possessions, you will replace them much less frequently, saving money in the process.


5. Keep Learning

Your knowledge is one of your most powerful resources. If you want better finances, keep learning. This doesn’t mean that you have to go back to school, or get an advanced degree. What it it does mean is that you should keep learning. Develop the skills that others want to pay for, so that you are more likely to find a good job, or get a raise. Learn the basics of running a business and make more money with a side gig. Or, you can just make it a point to learn about good financial practices so that you use your income to best effect.


6. Watch Less TV

One of the biggest time wasters out there is television. TV is expensive, too. When you pay for a TV package, you can spend between $50 and more than $150 a month. Just for TV! While we all need to be entertained sometimes, and it can be nice to unwind at the end of the day with a favorite program, you can actually get more done if you watch less TV. Not only can you save money each money by getting rid of the cable/satellite TV package, but you can replace that time watching TV with something else. Use the time to work on a side business, or learn about investing, or to engage in some other activity that will enhance your life and your finances.


7. Create Connections with Others

You never know when the right connection will help you in your career. Treat others with respect, and create meaningful connections, and you never know what might happen. You could find your new boss, or a new business partner. Your co-worker of today could be that great connection tomorrow. Treat others the way you want to be treated, and make the time to build lasting connections, and you could benefit financially — as well as creating fulfilling relationships.

source: financialhighway.com

6 steps to closing a credit card

Thinking about closing a credit card account? Closing a credit card account can prevent you from using too much credit, reduce your risk of identity theft and make keeping track of your finances easier. However, it can also have a negative effect on your credit score.

Part of your credit score is based on how much of your credit you actually use. When you close an account, especially a larger account, your credit-utilization ratio (CUR) will be affected and your score could go down. In addition, if the card you're closing was the first credit card you ever got, it could shorten the length of your credit history, which can also hurt your score.

Too many cards

That said, tell me if this situation sounds familiar: You have to buy a dress or a suit for a friend's wedding. It's tough financially, but it's their wedding -- a once-in-a-lifetime occasion. You pick one out and when you get to the cashier, he offers you an additional 20 percent savings if you sign up for their store credit card. Plus, with the card, you get free alterations. Done.

I've had a lot of friends get married recently.

Maybe you've encountered this situation too, and now you have too many cards for specific stores and would like to simplify your credit life a bit. Or maybe a card with an annual fee has outlasted its welcome in your wallet. In these cases, closing a card (or cards) can be an appealing notion. Here are six steps for getting it done:

1. Target the card that costs you the most first

If you are going to close multiple cards, close just one account at a time. Closing too many cards at once can cause your credit score to drop sharply from a snowball effect of the reasons mentioned above.

To determine which card you should close, calculate which one is costing you the most -- whether through the high annual percentage rate (APR) you're paying on its balance or the steep annual fee that's drawing nearer -- and make it your goal to close it first. Be sure to factor in any rewards you get from your cards, however, to make sure you're conducting a full analysis.

2. Pay the balance in full

This may seem obvious, but I've chosen to mention it so there's no confusion. Trying to escape a card that still has a balance is a terrible idea for a lot of reasons, not the least of which is the damage it will wreak on your credit report. If you can't pay the balance in full, consider transferring the balance to a card with a lower APR.

3. Declare your intentions with your issuer

I always prefer to try to cancel a card over the Internet first. It avoids the sales pitch from the person on the other line when I try to cancel. But if need be, call your credit card company and stay firm when they try to keep you as a customer. Remember your reason for calling.

4. Send a written confirmation of cancellation

Keep a copy for your records as well. This will give you more leverage if the account appears open after your verbal cancellation.

5. Dispose of the card properly

Once you're certain that the account is closed, cut up your card and dispose of it in multiple loads of trash.

6. Keep an eye on your credit report

If any errors, occur, it's your responsibility to correct them. Keep a tab on your score. It may take a few weeks for any changes to occur, but watch carefully to see if cancelling your card has a negative effect. If it does, weigh carefully whether you want to close any other accounts.

Whether you should close a credit card account can be a tough decision. Do the benefits -- which sometimes are only psychological -- outweigh the potential damage to your credit score? That's a call only you can make. But if you've struggled with overspending in the past, it is one way to reduce your temptation and simplify your finances.

source: moneybluebook.com

Earn Cash Rebates on Your Online Christmas Shopping

With Christmas just around the corner, the promise of rebates for shopping online at our favorite retailers is irresistible. Great Canadian Rebates is a website offering us just that. Although the site is Canadian, it has an extensive US membership and offers.









Here’s how the website works:

First, you need to register.  There is no fee required to register and there are no membership fees.  After registration, you can earn cash back rebates by shopping at hundreds of your favourite merchants on the Great Canadian Rebates website.  Just for becoming a member, GCR will deposit a toonie into your account.

For every purchase made through the website, Great Canadian Rebates gets a commission from the merchant and, according to them, they pass most of the commission back to you in the form of a cash back rebate, which is paid by cheque or can be directly deposited into your PayPal account on a bi-monthly basis. Most rebates are posted to your Great Canadian Rebates account within 72 hours but it may take up to 30 days from the time of the purchase for the rebate to appear.

There is a minimum 45 day wait period before you’ll actually be paid a rebate. This is so Great Canadian Rebates can collect their money from the retailer and ensure that merchandise hasn’t been returned. If you decide to return a purchase, the rebate earned will be debited from your account. The cash back rebate will remain if the return is only to exchange a size or get an item in a different colour.


Great Canadian Rebates updates their coupons, sales and deals daily. Some of the over 300 retailers you’ll find on the website include Walmart, Dell, The Bay, Sears, Expedia, Home Depot, Apple Store Canada, Chapters. Indigo, Hotels.com, Sony Style Canada, Groupon, MBNA, American Express and lots more.

Almost every purchase made through Great Canadian Rebates qualifies for a Cash Back Rebate. The exceptions are shipping and handling fees, taxes and any part of your purchase paid for with coupons, gift cards or store credits. You will earn an average of five percent cash back through the website and even more by using their coupons and sales links.

You can also earn referral bonuses of 10 percent on each of your friends who join and earn cash back rebates.
LIMITED TIME $60 MBNA BONUS!

They are also offering $60 cash back when you apply for an MBNA MasterCard and a $25 referral bonus per credit card when any of your referrals are approved by MBNA for any credit card listed on the site and reported to Great Canadian Rebates during November and December.

There are a few simple rules you need to follow in order to qualify for a rebate.

• All orders must be placed through the GCR website, not over the phone.
• You can’t use coupon codes found on other sites.
• Cookies must be turned on.
• Any Ad Blocker program you have must be turned off.
• Click on the appropriate link from GreatCanadianRebates.ca to the merchant before adding to a cart, before a purchase, a reservation or an application.
• Use coupon codes from the GCR site only.
• Purchases must be made by using the online cart, reservation system or application system.
• To make sure of your rebate, be sure to close all other windows you may have opened and click only the link on the GCR website.

All rebates are paid in Canadian funds. Any purchase made in US funds or reported by the merchant in US funds, will be converted into Canadian Dollars based on that day’s exchange rate.

If you do a lot of online shopping, especially at this time of year, you’ve got nothing to lose and cash back to gain when you sign up at Great Canadian Rebates.

Even More Cash Back Tip

If you use your cash back credit card, such as the MBNA SmartCash card, you can earn cash back on your credit card and Great Canadian Rebates.

source: financialhighway.com

10 Ways to Lower Your Insurance Rates

Most Americans spend more than ten percent of their income on insurance. If you are among them–or if you simply want to lower the insurance premiums for auto, home, health, or even life insurance–you may want to try one or more of the following rate-cutting strategies.

1. Comparison Shop. Staying with the same insurance provider or agent for a long period of time can have its benefits, but it is always smart to shop around. Every insurance provider offers different levels of coverage as well as varying premiums. It isn’t unusual to see price differences in the hundreds of dollars. Getting quotes from multiple companies or an agent who works with multiple insurers can help you get the coverage you need for the best price possible.

2. Increase Your Deductible. Raising your deductible is one of the easiest and surest ways to save money on insurance rates. If your current deductible is low–$100 to $200–you could save as much as 30 percent by raising the deductible to $1,000. Just make sure you keep at least the amount of the deductible on hand and readily available in case you need it.

3. Reduce Your Coverage. Reducing your coverage is another good way to lower your insurance rates. You may be carrying more home insurance, (you really only need to insure to rebuild as your land is probably not at risk), more auto coverage (your yearly premium should be less than you could get back on a claim), or more life insurance than you really need. Less coverage means that you will get less back when you make a claim, but it will also lead to significantly lower insurance rates.

4. Avoid Duplicate Coverage. Many people have more insurance coverage than they need because they have duplicate coverage. For example, if you have good health insurance, you may not need to carry additional health insurance coverage on your auto policy. The same is true if you have an exorbitant life insurance policy in addition to coverage on a mortgage loan, car loan, and other debts that you may leave behind for your family. Evaluate your needs carefully and make sure you are not covered for the same thing twice.

5. Combine Policies. Most insurance providers offer discounts to customers who insure two vehicles under the same policy. Customers who insure their home and their auto under the same policy are usually eligible for additional discounts as well.

6. Ask About Discounts. Discounts are available for a range of things. You may be able to get a discount based on your age, occupation, or lifestyle. Specific discounts to ask for include a senior discount, good student discount, safe driver discount, low-risk discount, and loyalty or renewal discount. Your insurance provider or agent may also be willing to provide you with a full list of potential discounts as well as information on how you can qualify.

7. Ask About Group Insurance. Groups, associations, or auto clubs that you are already a member of may offer discounts or group rates on various types of insurance coverage. You may also be able to receive group coverage from your employer. You can ask your insurance provider about current discounts. You may also be able to learn more by consulting your employee handbook or speaking with a group representative.

8. Lower Your Risk. Every insurance provider will analyze the risk of insuring you before providing a rate quote. You may be able to lower your rate considerably by lowering your risk. This might involve making your home more disaster proof, buying a car with safety features, or agreeing to participate in a wellness program. Talk to your insurance provider about the different things you can do to make yourself more insurable.

9. Improve Your Credit Rating.Your credit rating can affect both your auto and home insurance rates. If you improve your score, you might be able to lower your premium. You may also be able to achieve the same result by purchasing insurance through a provider that does not perform credit checks on new customers.

10. Quit Smoking. Tobacco use can increase the rates you pay on all four major types of insurance coverage: home, auto, health, and life. Quit smoking and you may see significant drops in your premiums.

Guest post from Bailey Harris, financial writer and Homeownersinsurance.org contributor.

source: financialhighway.com

5 Tips to Help Rebuild Credit Score

If you have ended up with bad credit score in the past few years then you are not alone. It can feel like a helpless situation but with time and a little effort you can reverse the situation and the best time to start is right now. Rebuilding your credit score won’t happen over night, it is a long process and requires patience and discipline. If you are looking to rebuild credit score these five simple ways on how to improve your credit score can help you stay on track.

1: Streamline Your Debts

If you have bad credit and are struggling to stay on top of things it can be easy for a bad situation to get worse. For example, if you have multiple credit cards and loan repayments each month it is easy to forget one and receive another dent in your credit rating, making it harder to rebuild credit score. Think about consolidating your credit cards and personal loans to reduce the number of repayments due each month and to reduce the interest rate. Set up an automatic payment to cover at least the minimum repayments each month to avoid damaging your credit score further and then make extra repayments from every pay check. If you do consolidate your debts then make sure you cancel any cards you consolidated rather than using them to extend your debt.

2: Create a Budget

Chances are you got into this situation by spending beyond your means. If you are spending more than you are bringing in then things will get worse and rebuilding credit will be impossible. Start by noting down your household income from wages as well as other sources such as share dividends or government benefits. Then think through all your outgoings such as rent or mortgage, utilities, cable, cell phone, groceries, automobile costs, travel, entertainment, clothes and so on. It can be hard to know exactly where you spend all your money when looking back at bank statements, especially if you spend a lot with cash. Try creating a spending diary for a couple of weeks or use a spending tracker app on your phone such as Toshl to get an understanding of where your money is going.

3: Change Your Habits

Now you know what you are spending money on, it is time to make some changes. You need to review your budget and find things you can cut out and reduce. For example, perhaps you can use free online services such as Hulu for on demand TV and cancel your cable subscription. Shop around for better deals on things you need to keep such as cell phone plans, car and home insurance, utilities as so on. Try looking for discount coupons for products you would use or switching to cheaper brands. If entertainment is an area you are spending up on then look for cheaper ways to do things such as eating in more, enjoying the great outdoors and so on.

One habit you will have to change is racking up debt. Take your credit cards out of your wallet and try shifting most of your spending to a debit card linked to your everyday bank account. This will force you to live within your means and avoid clocking up more credit.

4: Clean up Your Credit File

You’re now getting things in order and avoiding the risk of your credit getting worse. The next step to rebuild credit is to clean up your credit file. Request a copy of your credit file and look for any errors such as default or late payment notes which are not correct or unauthorized credit file enquiries. You may be able to request for mistakes to be removed which can speed up the path to financial recovery.

5: Rebuild Credit

The steps taken so far should be putting you in a good position to rebuild credit. Set up automatic payments for all your bills and loan repayments to ensure they always get paid on time. Creating a good repayment record will result in your credit score going up over time. While it may seem tempting to avoid all forms of credit this may not be the best option to restore your credit as the banks want to see repayment history. Safe options to help rebuild credit are secured credit cards or certain prepaid credit cards that rebuild credit. Secured credit cards work by securing the debt against money you deposit with the card issuer. You make repayments each month and the card issuer reports these on time payments on your credit report causing your score to rise over time.

Start your recovery

Getting into debt resulting in bad credit can be very stressful but it’s not a problem that will go away by ignoring it. Grab the issue by the horns and take control of it today. You should control your finances and not the other way around.

Article by Richard from credit card comparison website Secured Credit Cards 4U which compares credit cards to rebuild credit including secured credit cards and prepaid cards from leading US issuers.

source: financialhighway.com

Raise credit scores with good financial management

Credit scores make a huge impact in our personal and financial future.

Any debt left ignored or bills that you didn’t settle all get reflected annually in a document that is easily accessible by various financial institutions and is used to base your financial credibility. This credit report is where your credit scores are reflected. The higher your credit score, the higher your eligibility to qualify for significant loans should the need arise in the future. Inversely, the lower your credit score, the lower your chances of being approved for milestone purchases such as mortgages, car loans or even something as simple as a credit card application.

With lenders, bankers and other financial institutions using it as a reference before granting important loans, it’s a piece of reference that strongly reflects your credit history and financial responsibility. Poor credit grades, therefore, cast a bad impression against your overall reputation; and as a result, prevents us being able to take out important loans.

What makes credit scores to fluctuate?

It’s easy to look towards credit to keep up with the rising cost of living these days; but it’s also the easiest way to ruin credit ratings. Everyone should remember that credit cards are not a source of free or unlimited money—it’s borrowed money and every time you use it, it means it is a debt that you have settle. Given this, try not to spend beyond your means and use it responsibly.

Credit scores varies according to credit agencies

Three major credit bureaus - Equifax, Experian, and TransUnion offer free annual credit reports, upon request. Each agency has their own algorithm to calculate the scores, which bring difference in scores. There are different calculation models used each agency and it is important to regularly review it for discrepancies and inconsistencies. Feel free to raise dispute if you come across any errors.

Correct credit report to stay in peace

While the temptation to live a luxurious lifestyle on credit is great, it is not the healthiest way to go about managing your finances. Living outside of your capability to settle your credit debts reflects negatively on your credit scores and may lead to your inability to get approved for important loans. Interest rates on credit card can go up, and this is something that we all want to avoid.

Get free credit check regularly and maintain a good credit score for a happy financial life. Keep a track on your credit report & score with credit monitoring and a regular check.

Article Source:
http://www.articlebiz.com/article/1051538458-1-raise-credit-scores-with-good-financial-management/

Personal Finances: How You Manage Your Finances

Do you find it difficult to meet all your commitments due to personal finances ? Are monthly bills a problem for you ? If 'yes' is the answer you need to check how you manage your finances. Which of these two categories best describe you : a) A careful manager of funds, keeping your monthly budget in control so that you can deal effectively with any unforeseen money issues, or b) A bad finance manager who tends to spend their monthly income without considering the possibility of getting into debt with monthly payments.

If you answer b ... you can learn to keep your personal finances under control.

You may need financial advice if you have never planned financially before. You need to find out exactly what your monetary situation is, by getting as much information about it as possible. This information will give you an idea of your net worth financially, you should include assets, savings and property - then you will see more clearly what is left over for future savings. A personal finance budget is invaluable, this budget should include all of your income and expenditure. Accuracy is important as this will help you to realize your goals and future plans. All monthly expenses such as credit card payments must be included and scrutinize your statements so that you understand exactly where your money is going. This will aid you in prioritizing your expenses so you can make any tough decisions that may be necessary.

Do you have savings ? many do not bother about this until later in life but thinking about savings sooner is a good way to regulate your personal finances .. but don't forget that you have to meet your monthly requirements first ! Once you can do that, start saving, remember that you can't do it the other way around.
Also, consider your job, do you have a steady job with a reliable income ? This is not always easy to determine, for example if you work in retail there is always the possibility of job loss. Having a steady income may mean getting into a more secure job or, if possible, become your own boss. Above all be concerned with your personal finances these have to take priority over everything else.

Choosing the Best Debt Relief Programs

Debt may be acquired in different ways to spend only by neglect and poor financial planning, but there are many options available to help you with debts.  Debt relief  Program will surely get you out of debt quickly and affordably.

Due to the debt relief program, a lot of people are able to recover from financial lifestyle difficulties and breathe more easily and it's important to get the US economy back because it helps everyone involved financially.


Debt settlement, also known as debt negotiation is a relatively new form dealing with your debt problems and it saves you more money but has a negative impact on your credit rating. This is an adjustment by which a portion of your debt is waived off by negotiating with your lenders so that you'll be able to afford and pay. It is a good choice for someone who already has bad credit or cannot qualify for a less aggressive program.
Debt Consolidation, consult a debt consolidation company and explain to them that you are in need of their assistance. Once you have met with them and they have set up a plan, you need to stick with the payment arrangements, they will negotiate with the credit card companies to lower you interest rate and waive over the limit fees.
Credit card debt is one of the most common bills that require consolidation. The interest rates and fees on any outstanding balance can quickly accumulate.

Make sure if the representative of the company is honest with you and that the company you go with has been in business for many years and registered with the Better Business Bureau. Avoid companies that send emails and saying that they can solve your financial problems.

To enjoy the benefits of debt consolidation to manage your credit card debts and other debts, you must follow the right steps.