Tag: debt consolidation programs

Have you ever consolidated your debt through a debt consolidation program?

If it did work for you? How long does it take to become free of debts and the amount of a fee they charge? What are some good companies to go with?

Please do not consolidate. It is not free, lower their payments by increasing the amount of time until you are debt free, and you'll have a hit on your credit score. Or negotiate their debt downward after her not to pay for a time to add another success to their credit score. There is a better way. A. A garage sale and sell anything you no longer need or want. B. Get a temporary part-time work, if you have one, get another. Here's a plan that can help. If you work the plan, work plan you: 1. Make a budget. Make the budget a week before they are paid. A budget is not a punishment! It is a free tool that will have to worry about money again time. Put everything in your budget. Above all the bills year, semester, quarterly or vehicle registration, insurance, etc. Give every dollar that is going to carry home the name of where it goes. Add an emergency fund "category to your budget of $ 25 and save up until you have 1000-1250 dollars. Its emergency fund will help prevent entry into new debt because of an emergency. If possible, establish a direct transfer to a savings account for your emergency fund. In this way it moves automatically and you do not even have to worry about it. Must cut their spending and live on less than you make. 2.First catch up on all debts and you do no more delays in payments. Stop using your credit cards immediately. Do not take on more debt. Credit cards are like quicksand only death is much slower. Make a list of all your debts in order of higher interest rate to lowest interest. Actual use expenses only for now. 3.Pay the minimum in all its debts and then put your extra money to pay the highest interest first. After obtaining a paid off, you put the money on debt # 1 (the minimum payment and extra payment) towards debt # 2. That will pay debt # 2 off faster. When that is paid, it becomes three payments of Card # 3, and one will be repaid fairly quickly. For example: To start: Debt # 1 (plus interest): minimum payment + extra payment Debt # 2 (of average interest): minimum payment Debt # 3 (lowest interest): minimum payment Debt # 1: pay debt # 2: minimum payment Debt # 1 + The minimum payment Debt # 2 + extra payment Debt # 3: minimum payment Debt # 1: pay debt # 2: paid the debt # 3: The minimum payment Card # 1 + Minimum payment Debt # 2 + minimum payment Debt # 3 + extra payment. That way, get all your fruit, time, and pay no interest. Also help rebuild your credit because you no longer have any late payments. It does not matter how many different debts you may have. 4. After receiving all your debts paid off, add to your emergency fund until you have 6-12 months of income saved. Put the money in emergency funds liquid money market fund or into a Bank of America-CD without risk so if you need the money can be done without penalty. 5a. When you have your emergency fund in Instead, add a category for "fun" to your budget. Save for a holiday, vacation, a big screen, or dinners out, any goal you want. Remember to enjoy your life. 5b. When you have your emergency fund in place, start saving for retirement. Join the 401 (k) Plan Work and contribute to the maximum. Your employer probably matches at least part of their contribution, why give up free money? Open a Roth IRA and contribute the maximum on a monthly basis. If you start saving for retirement now, you probably will retire a millionaire. 5c. When you have your emergency fund in place, start save for your next vehicle. Only buy cars, or other things that depreciate, with cash. Save up to a better car. That way instead of earning interest the interest you pay. can do and is not as difficult as you think. Just follow the plan.

Credit Solutions Attacks Debt Without Debt Consolidation Loa