Saying “I Do” to Good Debt Management

plan your wedding, but also manage your debt!Weddings and honeymoons are always filled with excitement and happiness. However, after the excitement of being newlyweds, things slowly return to normal. Along with getting back to work and facing the challenge of a new relationship, credit management is now a shared responsibility. Both of you are responsible for each other’s debt management. Financial issues can easily put stress on any relationship, but with some good strategies, you can effectively manage your credit as husband and wife, so credit doesn’t become a source of discord.

Be Honest about Your Debt

If there are any skeletons in your credit closet, it’s best to be upfront with your spouse. Better yet, it’s ideal to discuss your credit even before you get married. Poor credit not only hurts you, it hurts your partner. Having a credit check done together is a good way to get started with a relationship based on honesty. Attempting to keep debts and secret bank accounts hidden from a spouse will eventually surface and cause dissent in a relationship.

Maintain Financial Individually

Marriage is a partnership, but it doesn’t mean giving up your individuality. While you may have joint accounts with your spouse, it’s wise to keep an account of your own. Having a separate account will give you a sense of control and freedom. It can also be a lifesaver in the event of a financial emergency.

Create a Doable Budget

Make sure to sit down together to establish a budget that you and your spouse can work within. Once you make a budget, stick with it. Being mindful of your financial expenses will help you better save and pay your bills on time. Reviewing your budget together on a regular basis will not only bring you closer together but keep you on the right financial track.

Don’t Rush into Big-Ticket Purchases

While preparing for your future growing family, it’s easy to get swept away with big-ticket items, like the purchase of a new home, automobile or other items. If you’re not financially ready for these purchases, it’s best to put off any grand plans. With proper financial planning, you’ll be able to purchase these items without adding stress to your new relationship.

Credit Counseling Services

If you and your spouse are having difficulty saving for those big-ticket items or paying the bills on time, a debt management program from a company like CreditGuard of America can assist you, along with credit counseling services. There are many non-profit credit counseling services that charge low fees and can provide you with the assistance of a certified financial adviser. Your financial adviser will review your current income, outstanding debts and future goals to help you customize an effective financial plan. If needed, a financial adviser can also help you enroll in a debt consolidation plan if you’re struggling to make ends meet.

Alabama Debt Consolidation Helps to Manage Unsecured Debts

Trained financial counselors can help you solve complicated debt issues by taking advantage of a useful credit program: debt consolidation. Unfortunately, easy credit convinces people to spend money that they don’t have, or unexpected expenses create debts that are hard for people to manage when their incomes remain the same. A written plan for debt consolidation services could lower your monthly payments, protect your credit rating and help you pay off your debts within 24 to 48 months.

Facing Your Debts Honestly

Emergency expenses, layoffs, family additions and other factors could cause anyone to fall into debt, but the first step in getting credit card debt help is to face your legal obligations honestly. Trying to borrow money to pay off debts usually just creates more debt because people soon begin borrowing to make monthly payments on the old debts and new loans.

  • Interest rates for unsecured credit are so high that minimum monthly payments barely cover the interest charges, so you just fall deeper into debt.
  • Studying your financial situation honestly helps you learn how you spend your money so that you can find ways to save.
  • Debt counseling helps you make better financial decisions by understanding how credit works.
  • Easy credit convinces people to spend beyond their means because they haven’t actually earned the money, which makes it easier to spend on unnecessary luxuries.

Interest Rates Make Debts Difficult to Pay

Interest rates on unsecured debts force you to spend money that provides no goods, services or benefits. Your interest rates, fees and penalties could run so high that your monthly payments don’t even cover them, and you are soon increasing your debt even while making your scheduled monthly payments. When you get into this kind of financial mess, credit consolidation programs can help you pay off your debts without ruining your credit.

Debt Consolidation Programs Offer Help and Counseling

Legitimate Alabama debt consolidation services like Credit Guard provide trained counselors, who negotiate with creditors on your behalf to remove penalties and fees, reduce interest rates, lower monthly payments and consolidate all your bills into an affordable monthly payment that actually reduces your balances rapidly.

  1. Interest rates make most unsecured debts expensive.
  2. Debt management plans reduce interest so that you can afford your payments and pay off your debts within a reasonable time.
  3. Thousands of consumers have gotten out of financial trouble by using this proven method of dealing with debt.
  4. Debt consolidation services not only help with debt but also provide credit counseling and financial advice so that you learn how to manage your money.

Debt consolidation programs can give you new hope for getting out of debt without taking out loans, declaring bankruptcy, losing your home or ruining your credit. Contact a professional counselor today, and find out if debt consolidation could help you manage your debts.

Debt Consolidation: A Good Strategy for Managing Credit

debt consolidation a good debt strategy

High-interest loans, multiple debts and accrued penalties make it difficult for many people to pay down their balances and get out of debt. Debt consolidation could help you reduce your monthly payments, manage your money more efficiently and get out of debt quickly.

You could retire credit card debt in three ways, but only one of them legally satisfies creditors, protects your credit rating and keeps you from taking on additional obligations.

Debt Consolidations Services Offer Positive Benefits

Debt consolidation companies study your financial situation and organize a Debt Management Plan to satisfy your creditors. These financial professionals can negotiate on your behalf and convince creditors to reduce interest rates, waive penalties and accept smaller monthly payment plans.

    • You make one monthly payment to satisfy all of your unsecured debts.
    • Credit counseling services include consideration of secured debts, such as mortgage and car-loan payments, so that credit counselors can determine an affordable monthly payment.
    • Many debt consolidation plans can get you out of debt in only 24 or 48 months.
    • Negotiating with creditors protects your credit.

Debt relief services help you consolidate debt without taking on new obligations, and consumer credit counseling helps you organize and manage your finances so that you can live within your means, save money, learn to invest wisely and put aside resources for retirement.

Debt Settlement Damages Your Credit

Debt settlement strategies damage your credit severely because companies that offer this service recommend that you default on your loans. Damaging your credit to consolidate your bills could hurt your chances of finding employment, getting a mortgage or qualifying for lower interest rates. These settlement companies often charge large fees for their services, so you get better results by choosing a legitimate debt consolidation company that offers free initial consultations and nonprofit credit counseling.

Debt Consolidation Loans Create Larger Debts

Debt consolidation loans only work for people with excellent credit, and borrowing money to pay off your bills allows you to start buying goods and services, get cash advances and incur new debts that you have to pay in addition to the consolidation loan. Borrowing money to get out of debt is never a good strategy.

Debt Consolidation Counselors Put Your Interests First

Some consumers try to consolidate their debts personally, but creditors have little interest in negotiating with private individuals. Debt consolidation companies can convince creditors to accept their proposals, but consumers with no representation have little chance of success.

Credit counseling companies have greater influence because they represent thousands of customers, suggest viable repayment plans to help get out of debt, and demonstrate successful counseling skills that help people manage their credit effectively and stick to their repayment agreements.

People with outstanding debts come from all socioeconomic groups, ages and ethnic backgrounds, but they have one common unifying characteristic: They need professional help to manage their debts. Debt consolidation offers a structured financial plan to live smarter, retire debt, plan for the future and protect your credit.

Be Debt Free with Debt Consolidation

Imagine for a moment how great it would feel to be debt free: No creditors calling, no late notices or vaguely threatening letters in the mail, no lying awake at night worrying about how you’re going to make next month’s payments. That entire burden is lifted from your shoulders. The good news is, even though it may sound like an impossible goal, there’s a relatively straightforward way to shed all of your debt, and it starts with a simple phone call or click of your mouse.

Debt consolidation is a process that takes all of your outstanding unsecured debt, like credit card debt and personal loans, and combines it into a single monthly payment that you can afford. The process is performed by trained debt consolidators who will work with you and your creditors to establish a repayment program that allows you to pay down your debt – and pay it down much more quickly.

How does debt consolidation work?

First, the counselors who work with debt consolidation programs will look at all of the payments you have to make every month. Next, they’ll work with each of your creditors to reduce your interest payments and obtain a lower monthly payment. Then, they’ll combine all of those individual payments into a single one that’s easy to handle and that works with your budget. Having a single payment makes it much easier to pay your debt; in fact, most consumers who enroll in debt consolidation services for debt relief find they can repay their debt in just a fraction of the time it would take if they paid only minimum payments at their existing interest rates.

Can I do it myself?

Debt consolidation programs are well-regarded by credit card companies and other lenders who recognize them as an effective intermediary between the lender and the person who has debt. While most lenders are not willing to work directly with consumers, they are willing to work with reputable debt consolidation programs because they know those programs get results. At the end of the day, credit card companies and other lenders want their money, and they’re willing to work with programs that have a proven track record because they know they have a better chance of being paid back. In contrast, most consumers find that their own individual efforts yield little to no rewards. Another advantage: Because debt consolidation programs are staffed by skilled debt counselors, they can help make sure that you make those monthly payments and stay on track to becoming debt free.

What kind of results can I expect?

Most consumers find that they can save thousands of dollars – and sometimes more – by having their interest rates reduced through debt consolidation programs. What’s more, while it could take you 30 years or more to pay back all of your credit card debt, with a debt consolidation program; you could repay that debt within five years. Your debt counselor can also help you develop sound financial habits to ensure that you don’t fall back into debt in the future.

If you’re already in debt, you may be reluctant to pay more money in an attempt to get out of it. But, unlike debt consolidation loans that can actually increase your debt, a debt consolidation program can turn unwieldy debt into an easy monthly payment that suits your budget – and it all begins with that one phone call or mouse click.

Getting Credit and Debt Counseling for Student Loans

People immediately graduating from college or those with excessive student loan debt will find it hard to build credit and boost the credit score without a strategy in place.  Student loan debts can affect a person’s credit for decades in several ways. How do student loans affect one’s credit?

student debt can affect a lot of people

Student Loan Debt and Credit

Student loans are unique in that they can affect multiple components of a person’s credit score. Each loan taken out appears as a separate item on a person’s credit report.  Defaulting on a student loan can make a person ineligible for borrowing again.  A student loan default will appear on the credit report for up to seven years.   How current the student is on the loan and how much the person owes in student loans influence the person’s credit score; the payment history and amount owed account for 65 percent of the credit score.

How to Pay Down Student Loan Debt in Record Time

Credit and debt counseling can help recent graduates and others with multiple student loans improve their credit scores.  The consolidation program allows a person to consolidate multiple accounts into one payment plan.  The person can then pay off the loan and eliminate student loan debt, as well as any other unsecured debt.  If a person sticks to the repayment schedule, he or she will be able to completely pay off their student loan debt in record time.

What Are the Benefits of a Consolidation Program?

Credit and debt counseling gives the person the opportunity to leverage the negotiations skills of experienced counselors.  Counselors who have relationships with lenders and years of training in the field can put this knowledge to use to create more favorable terms for their clients.  Consolidation also allows the person to immediately begin improving the credit score.  Within months of being on the plan, a person may see a bump in their credit score.  Consolidation also improves the credit score by removing multiple loans appearing separately on the person’s account.

Depending on how much is owed, a person’s credit can really take a hit because of student loan debt.  Any recent graduate or person with multiple student loans should consider credit and debt counseling to quickly boost the credit score and lower the student loan debt.

How Credit Card Debt Consolidation Helps You Get a Home Loan

Making a major purchase like a home for the first time can be an exciting experience for the young professional or couple.  While purchasing a home may seem like a practical move, the person must make sure that he or she is capable of tackling many of the hidden costs that come with buying a house.

Uncovering the Hidden Costs of Buying a Home

There are expenses that should be planned for well in advance before purchasing a home.  Appraisal, underwriting, home inspection, title insurance and survey fees can quickly add up into the thousands.  Homeowners can expect to pay heavily for property insurance.  There can be origination or mortgage application fees due to the broker.  Title insurance can easily cost $500 or more.  The amount paid for taxes by the previous owner may be owed if the property was purchased within a certain amount of time.  In some cases, the homeowner may be required to take out mortgage insurance for the property.  The prospective buyer can often expect to shell out thousands for inspections, application fees, and insurance costs while purchasing a home.

Can Credit Card Debt Consolidation Prepare a Person for Home Ownership?

One of the biggest ways a person can save on a mortgage is by having great credit.  Great credit can make home ownership more affordable for most people.  A credit card debt consolidation company can counsel a person on what steps to take to boost a credit score and reduce debt.  If a person is proactive in planning ahead to clear up any potentially damaging credit issues prior to seeking financing for a home, he or she can save thousands of dollars in financing.  The debt consolidation counselor can get a person completely out of debt and on their way to financial freedom.

Home ownership is an incredible milestone for a person.  Knowing all of the hidden costs associated with owning a home empowers the consumer to make the very best financial decisions.  Building savings, improving the credit score and managing debt are all ways a person can be well-prepared for home ownership.

The Best Debt Consolidation Solution for Those with Multiple Debts

Being in debt is not a crime. It is not something that anyone wants to happen to them, so it’s important for them not to feel pangs of guilt when they can’t pay their bills. They deserve help, and there are many people who would like to offer their services to them. These people are called debt consolidation experts.

While most people have heard of debt consolidation, they may not realize what a lifesaver it can be. However, the consolidation process can be confusing. Some people are led to believe that applying for a debt consolidation loan is the best debt consolidation solution. This just isn’t true. In fact, this faulty option doesn’t decrease people’s debts. Obtaining a loan causes them to trade one type of debt for another.

many people can benefit from debt consolidation information

Many people can benefit from debt consolidation information.

On the other hand, consolidating your debts into a single monthly payment can reduce your debt quickly. This type of service, provided by a professional financial counselor, is the best debt consolidation choice. Your counselor can consolidate your debts and possibly reduce your interest rate. It’s these high interest rates that are making it so difficult to people to pay off their debts.

A debt consolidator will help people in similar situations by negotiating with the creditors to lower the interest rate. In some instances, people may have made late payments. As a result, they might have had late fees and penalties added to their already costly balances. The debt consolidator will also negotiate to have these late fees and penalties potentially eliminated from the balances. Since less interest is being added to the debt, those in debt owe less money, and they can more easily afford to make monthly payments.

Before they seek the services of a debt consolidator, people in debt must be aware of a few things. First, consolidating your debts will not lower the total amount you owe. Also, you won’t need to attend regular meetings with a debt consolidation expert. You will have a consultation with the debt consolidator in the beginning. Once a plan is put into place, you will continue with the program until your debts are paid in full.

Debt Consolidation Help for Unsecured and Secured Debts

People fall into debt for many reasons. No amount of preparation can prepare you for when your child becomes deathly ill and you’re bombarded with costly medical bills. Other emergencies, such as a car repair or an unexpected layoff, can also force families to max out their credit cards.

As time goes by, the high interest rate adds to these debts, and they believe that they have no way to pay them. These are people who are in serious need of debt consolidation help.

Some people may seek unsecured loans to pay for their education. They may even have secured loans that they took out to purchase their automobiles and houses. When they applied for these loans, they did it in good faith. They had every intention of repaying the loans, but circumstances are preventing them from doing so. These are people who are also in need of debt consolidation help.

What Types of Debts Can a Debt Consolidator Help People Pay?

unsecured and secured debt consolidators
A debt consolidator is someone who can help people repay their debts whether they are secured or unsecured. Unsecured debts include credit card debts, medical bills and accounts that have been sent to collections. These are debts that do not have anything attached as collateral. However, debt consolidators can at also help people pay their debts that are secured by an automobile or a house by reducing unsecured debt and setting a budget that allows for repayment of all debt.

What Does a Debt Consolidator Do? 

The debt consolidator will consult with every unsecured creditor to lower the interest rate. This will have the immediate effect of lowering the monthly amount owed. A lower interest rate means that less interest will be added to the payment every month. If there are any late fees or penalties, the debt consolidator will seek to have these waived. People will owe less money, so it will require less time to repay these debts in full.

People will be able to rest easy knowing that they will repay their debt in just a few years. They will send one affordable payment to their debt consolidators. The consolidators will then disburse the funds to various creditors. Now it’s easier than ever to receive debt consolidation help.

Climb Out of Debt With Credit Counseling Services

climb out of debt with credit counseling service

Ogden Nash famously said, “Some debts are fun when you are acquiring them, but none are fun when you set about retiring them.”

Nowadays, more than ever, many families are struggling with consumer credit and debt. Some are finding the challenge of paying even just the bare minimum payments of their credit card accounts along with their households’ monthly expenses. Many people are finding it almost impossible to meet financial obligations and commitments made in easier financial times.  Today’s recessed economy gives families little hope of digging themselves out of their poor financial situation anytime soon. The good news is that if you are a part of these families who are suffering from overwhelming debt, you need not struggle alone.

Credit Guard credit counseling service may be an answer to your financial hardships. Working closely with a knowledgeable credit counselor is the first step in climbing out of that deficit. Households really benefit greatly from learning about the best way to budget their income. In fact, learning how to manage finances is the cornerstone to building a debt free lifestyle. Without these skills, debt tends to stagnate and reap in its interest, which makes paying it off much harder.

Credit counseling services will work with you to teach you ways to optimize your financial resources and how to prioritize payments so they will be most effective. A counselor may be able to help you work out an appropriate budget for your lifestyle. He or she may be able, through an empowered third party, to negotiate with your creditors to restructure the debt owed into a more manageable format.

Paying off or retiring debt is rarely fun or painless, and debt does not go away by itself. It needs to be met head on aggressively and systematically paid off. Credit counseling helps arm you and your family for the battle against your consumer credit. With knowledge and a battle plan in their arsenal and a credit counselor on their team, tomorrow could look debt free!

Being Safe While Looking for Online Debt Consolidation Programs

how to safely look for online debt consolidation

So you have decided that you want to be rid of your credit cards, but aren’t sure where to start. First of all, know that you are not alone. Thousands of Americans every day decide they are fed up with credit card debt and seek help.

Credit card consolidation can help you get out of debt without having to apply for another loan. If you are considering looking for online debt consolidation, keep these points in mind:

Never give out personal information to someone you can’t trust

Always verify that the person you are speaking to or corresponding with is from a reputable company and will safeguard your personal information. Check out the business on the BBB website. Ask specific questions regarding what the business will do with your personal information, and where they will store it. If they cannot answer your questions confidently, seek another debt consolidator.

A credit card consolidation is not a loan

Do not apply for loans online in order to consolidate credit cards. True debt counselors have ways to help you that do not require simply taking on another debt. They will actually work directly with your creditors to form a plan for paying off your credit cards. This is different than a loan consolidation and you should understand the difference before seeking out a specific company to help you.

Always be wary online

The Internet is full of people looking to scam you. If you are searching for information regarding online debt consolidation, the scammers will be out in droves to trick you into sharing personally identifying information. They may request credit or debit card details and will later use these to their advantage. Again, verify who you are talking to before giving out any information.

Though you should always be careful, there are many debt consolidations than genuinely want to help you. Before deciding on a company or debt counselor, turn to a trusted brand ask for recommendations. Chances are, a friend or family member of yours has worked with one and can give you a solid recommendation. You certainly do not want to end up in more debt because someone stole your credit card number.

Rainy Day Spending

rainy day spending on a budget budgeting

It never fails – restlessness is a budget killer!  When you’re cooped up, cramped, and unintentionally inactive, it’s difficult to maintain budgetary discipline.  Involuntary laziness may have you looking for an easy out, but if you don’t have a “rainy day fund” built in to your budget, you have two options: go over budget, or find a way to have fun without spending a cent.  Lucky for you, there’s plenty of ways to keep your mind active that are low-cost.

1) Puzzle

Puzzles aren’t as popular in the era of hyper-interactivity, but they can still be a time consuming challenge for your brain.  If you don’t have a puzzle lying around collecting dust, try a crossword or Sudoku.  Engaging your mind in unraveling (or piecing together) a challenge can make the hours melt away.

2) Exercise

There are plenty of exercise videos available for free on the web, and many of them can be done indoors and without equipment.  Wear yourself out, and the rest of the lazy day will seem more relaxing and less confining.  Of course, it can be fun to run in the rain, too – if the weather isn’t too dangerous!

3) Cook

Now’s your chance to try that recipe or cooking method you haven’t had the opportunity for!  Cooking can be a valuable way to pass the time and enhance your skills.  This way, you can work within your food budget and occupy your time.

4) Clean

Okay, boo cleaning, right?  But it needs to get done.  Wouldn’t it be best to do it when there’s nothing better to do?

No matter what, there are plenty of ways you can creatively use your time, and positively impact some aspect of your life.  Find ways to be productive, no matter what the weather is like outside!