Credit Card Bill Relief - Three Avenues To Get Free Of Bill
- Date: 2009-04-20 - Word Count: 520
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Could I really be in debt over my head? How did I get into this situation? Why does all this bad stuff always happen to me? Me and my wife just went out to dinner a few times, she had to have a new dress, and those earrings were just to die for.
It's really crazy how just a few simple purchases on a credit card can get out of hand. You tell yourself you can pay it off with your next paycheck, but that never seems to happen. Before you know it you're two or $3000 in debt may be more, and wondering how you got there.
These things happen all the time, and it's no wonder with our consumer driven society. We all tell ourselves the same thing when it's happening, and we actually believe what we're telling ourselves at the time. If you're in this spot though there is help, and I'm going to show you three ways which you can use to get yourself out of debt.
The first is credit counseling. When you call up a credit counseling agency you will be connected to a certified credit counselor that will take you by the hand and walk you through a budgeting counseling session. In this session, your counselor will find out how badly you are overstretched, and see if you qualify for a debt repayment plan. If they find out that you do qualify, they will work with your creditors merge all your bills together into one payment plan that you can manage.
The second is debt consolidation. Debt consolidation is the process of combining your debts together into a lump sum with the hope of getting an overall lower payment. Most commonly a debt consolidation is done through a loan, and if you own your own home, it is normally achieved through home equity. If you don't own your own home though all is not lost. You can work with a debt counselor who will work on getting a low interest rate loan for you. It will also talk with your lenders to see if they can get you a reduced interest rate. In the long run this can save you a lot of money.
The third option I want to talk about is a debt settlement. This option isn't recommended unless your credit is already shot and there isn't any other way that you can pay off your debts. This process involves working with a settlement company who will set up an account for you, and into which you will put in an agreed-upon sum of money each month. When the sun becomes large enough for debt settlement company will use the money as leverage to make a cash settlement with your creditors. In the meantime they will send off letters to the creditors telling them that you're in this program, and the creditors won't bother you anymore.
All three of these options are legal ways to relieve your debt. You need to understand those that hiding from your problems and ignoring them won't make them go away. You have to face them or they will continue plaguing you.
It's really crazy how just a few simple purchases on a credit card can get out of hand. You tell yourself you can pay it off with your next paycheck, but that never seems to happen. Before you know it you're two or $3000 in debt may be more, and wondering how you got there.
These things happen all the time, and it's no wonder with our consumer driven society. We all tell ourselves the same thing when it's happening, and we actually believe what we're telling ourselves at the time. If you're in this spot though there is help, and I'm going to show you three ways which you can use to get yourself out of debt.
The first is credit counseling. When you call up a credit counseling agency you will be connected to a certified credit counselor that will take you by the hand and walk you through a budgeting counseling session. In this session, your counselor will find out how badly you are overstretched, and see if you qualify for a debt repayment plan. If they find out that you do qualify, they will work with your creditors merge all your bills together into one payment plan that you can manage.
The second is debt consolidation. Debt consolidation is the process of combining your debts together into a lump sum with the hope of getting an overall lower payment. Most commonly a debt consolidation is done through a loan, and if you own your own home, it is normally achieved through home equity. If you don't own your own home though all is not lost. You can work with a debt counselor who will work on getting a low interest rate loan for you. It will also talk with your lenders to see if they can get you a reduced interest rate. In the long run this can save you a lot of money.
The third option I want to talk about is a debt settlement. This option isn't recommended unless your credit is already shot and there isn't any other way that you can pay off your debts. This process involves working with a settlement company who will set up an account for you, and into which you will put in an agreed-upon sum of money each month. When the sun becomes large enough for debt settlement company will use the money as leverage to make a cash settlement with your creditors. In the meantime they will send off letters to the creditors telling them that you're in this program, and the creditors won't bother you anymore.
All three of these options are legal ways to relieve your debt. You need to understand those that hiding from your problems and ignoring them won't make them go away. You have to face them or they will continue plaguing you.
Related Tags: money, debt, finance, loans, credit, business, self improvement, ecommerce, legal, payday loans, wealth building, social issues, home and family, reference and education
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