Posted on
May 13, 2010
at
3:24 am
Hello! Can you discuss budget for debt reduction? Or just give links, thanks!
Posted on
May 13, 2010
at
4:11 am
Hello! Can you discuss budget for debt reduction? Or just give links, thanks!- Hi there, you can buy debt help books of you're interested in doing debt reduction/elimination d.i.y. - look for names like Suze Orman, Dave Ramsey, or Kevin Trudeau. You can also share with us your basic debt detail - total amount you owe + account status and perhaps we can help you.
Posted on
May 13, 2010
at
5:30 am
Budget for debt reduction - hi, you can also attend a credit counseling class, just don't sign up for their Debt Management Plan. Credit counseling is non-profit, it's supposed to be free. Learn what you can from there and then start making your own budget - but this of course depends on your type of credit. Credit counseling and another debt relief program, called Debt Settlement only deal with unsecured debts. How much is your total debt amount anyway? Also your account status. ARe you past due or current?
Posted on
May 13, 2010
at
6:41 am
Hello! Can you discuss budget for debt reduction?--- # spend less than you earn.# Use cash for better budgeting, and stop using debit cards and credit cards.# Create a plan to get out of debt for better results than just sending money to your accounts randomly.# Know exactly how much you owe, keep track of it in a spreadsheet or notebook and update it each time you make a payment.# Establish an emergency fund as soon as possible to avoid relying on debt when an unexpected expense occurs.# Shred your credit cards but keep accounts open (closing accounts lowers your credit score).# Consider a non-profit debt counseling service to help you develop a plan for getting out of debt faster.# Contact creditors to request lower interest rates or easier repayment plans.# Get a free copy of your credit report to see if there are any errors that need to be corrected.# Don't go into more debt trying to pay off your debts! You can't send so much to your debt repayments that you can't keep up with your living expenses.# Look for ways to reduce expenses – the more you reduce, the more money you can pay toward debt and the faster you can become debt free. You don't have to live like a monk, but there are many living expenses and unnecessary expenses you can reduce or eliminate (even if only temporarily) to get out of debt faster.# Learn how to entertain yourself for free
Posted on
May 13, 2010
at
6:53 am
But those are for if you want to do a debt reduction d.i.y. - there's another way to reduce or eliminate debt - professional debt relief - and you all you have to do is pay theirfees - If your unsecured debt is more than $10,000 and your accounts are past due, think about debt settlement.If your debt is less than $10,000 with high interest rates and your goal is to just manage your payments, you can try credit counseling.Destroydebt.com offers a free initial consultation, just fill out a form.
Posted on
May 13, 2010
at
6:54 am
Speaking of fees -Credit counseling is non-profit but their Debt Management Plan would cost around $25/mo. after the one time set up fee.Debt settlement companies would charge 15% of your total debt amount -spread over 18 months or they will take between 20-25% of the settlement amount.
