Posted on
March 11, 2010
at
3:35 am
Alternative ways to reduce credit card debt or eliminate it?
Posted on
March 11, 2010
at
3:41 am
Alternative ways to reduce credit card debt or eliminate it -1) Credit counseling (Debt Management Plan) deals with interest rates. 2) Debt settlement - aims to reduce the balance to more or less half.3) Debt consolidation loan - not recommended but if the consumer's credit standingis good and he/she has a steady stream of income (and would never default onthe payment) then it's also an alternative to bankruptcy.4) Bankruptcy - the last choice or rather if the consumer run out of choices -if he/she is facing foreclosure, lawsuit, eviction, or repo ... bankruptcy canbuy them some time.
Posted on
March 11, 2010
at
3:43 am
Alternative ways to reduce credit card debt or eliminate it? Those mentioned bySo Private employ the services of the pros or the government - the consumer canalso do a d.i.y. interest rates negotiation with the creditors (via the hardship program) ordebt settlement (if he/she has 75% of the debt ready).
Posted on
March 11, 2010
at
3:49 am
The consumer can also do a balance transfer. And here are some of theQuestions to ask the next creditor/bank:1. Until when is the introductory rate or how long does it last?/2. What is the card's annual percentage rate after that introductory rate expires?/3. Does that introductory rate apply to transferred balances or just to new ones, or both?/4. Does that card have an annual fee?/5. Do they charge late fees and over-the-limit fees?/6. Are there balance-transfer fees? /
Posted on
May 19, 2010
at
3:23 am
Debt management programs can help you.
