Stop Bank Foreclosures Tips

9 responses so far ↓

• 1 hail_mighty_moose // Mar 24, 2008 at 8:52 am

  As someone who’s recovering from debt, I don’t recommend credit counseling services.

  For one thing, half of them are scams – you pay a fee, and there’s no guarantee that your debt, your minimum payment or interest rate would be reduced. You see them advertised at the same times and places as ambulance-chasing lawyers and get-rich-quick schemes – that should tell you something about their credibility.

  You are just as well off, if not more so, dealing with the creditor directly. I’m currently making automatic monthly payments out of my checking account with a reduced minimum payment and a significantly lower interest.

  Because I dealt with the creditor directly, I don’t have to pay a middleman, and my whole monthly payment goes towards my debt, instead of a percentage going to the credit cousnelor. Plus, I don’t have to worry about missing a payment because of an administrative screw-up.

  Seriously, call the credit company TODAY and get started on your plan. You’d be surprised how much nicer they are to you when you’re up front about your situation.

  And more importantly, take a look at your spending habits. Cut out every unnecessary item you can, including cable, magazine subscriptions, takeout food – you’d see how quickly even the little things like snacks and coffee add up.

• 2 LoFlo // Mar 22, 2008 at 6:18 pm

  Actually, it’s a very good decision. Going into such a program will not only help you to reduce and eventually eliminate debt, it can, of itself, raise your credit score. Here’s a link to Consumer Credit Counseling Service (CCCS), a non profit service, for your use.

• 3 Vivan M // Mar 21, 2008 at 1:06 am

  Every attempt to consolidate the multiple debts of a debtor fails because the action is not set in a well planned manner. Debt is a serious issue and demands to be dissolving with rational policies, and considering the debt management program is one of such deliberate advice that concentrates to dispose the debts to zero. The earlier steps taken regard them past, and approach for the debt management program for a rewarding and effective resolution. The objectives and principles of debt management program are adopted after assumptions and speculations which can stabilize or aid to rebuild the badly affected financial score in a sparing manner. Tactically and subtly, the policies are fused and carried out in a managerial way to consolidate the single or multiple debts as they are stronghold enough. Being a debtor is not a wrong sign; in order to qualify all the varied financial needs, inadequacy of required finance compels a person to take monetary support in the form of loans. However taking debt is considered bad in the society. Debtors, gradually, go in fix of debt trap due to mismanagement of repayment planning. Considering the fact of the matter, the lending authority has come up with the generous provision of bad debt management. Under the plan, debt elimination process is worked out.

  Debt management program can be subscribed in a straightforward procedure. The practice of advancing debt management program is traditional and online, but the later is given the preference as it provides instant results to the applicants. While applying for a debt management program furnish data in an elusive manner and accurately in order to avoid delay. The services of debt program management reinstate and assist to supervise the future debts along with realizing demands.

  Some people do not know how to manage their money. Others turn a deaf years despite warning signs of poor money management. However, getting out of debt is a function of learning and consistently applying good money bad debt management practices.

  First of all, individuals must truly acknowledge they need help managing their debts. Once they truly decide to do something about their debts, they need a plan. Subsequently, figure out exactly how much they have owed. Write down all on a piece of paper. If unable to understand, then it is better to take help of any financial expert available nearby.

  In prospect of providing a good bad debt management service, there are many lenders available in the money market for this generous cause. However with the advent of the internet, availing bad debt management has become very simple and easy. Henceforth, debtors have to fill in simple application forms available right online. Thereafter, a lender works for the debtor.

  The lender gives entire of the debts into a single entity name, and calculates the amount and interest rates thereupon. After matching your dues and the amount you have, the lender makes a single monthly repayment scheme considerably. In such a way that both the creditors and the lender may not have to bear up any financial burnt. Debtors find their elimination of their debts under the provision of bad debt management very easy and simple.

  The results of this debt management program are creditable. In short, the explicit advice deducts the monthly burden which you are obligated to different lenders. Multiple debts will be cut down to a single and debtors will have to be answerable to a particular creditor adding to the shedding of mental stress. In the market, the service of debt management program is provided by finance lending institutions in an easy way and the eligibility criteria is to be a victim of debts. The debt management program is released or functioning under different names, debt management service, debt management advice, debt consolidation program, debt consolidation advice and such, so that debtors can easily consolidate the debts. With the sustenance of such program debtors can also spot a lender who allocates finance at marginal rate of interest.

• 4 youngthani // Mar 19, 2008 at 7:24 am

  why pay someone to pay your credit card. sit down and budget. it takes alot of time and boring but it really pays off. i dont like any of these debt programs. its a ripoff. go to to see if the company u chose is on there and u can see what complaints have been made about the company. microsoft money has a budget program. there are a few others online as well u can download. try going to the community college in your area and see if they offer free debt management classes. also try the library, banks, or community center. where i live my community center offers debt and budgeting classes. some are free and some u have to pay but not much. also even some churchs offer classes. try those before having someone else pay your debt and then in turn u owe them.

• 5 Sgt Big Red // Mar 18, 2008 at 12:54 am

  Debt counseling is the best way to go instead of debt consolidation (which simply means one borrows more to get out of debt).
  Here is a link to the FTC approved agencies. Some may charge a small fee and may not (depends upon your situation).
  This will give you breathing time to catch up

  Govt approved credit counseling agencies.

  Good luck and hope this helps.

• 6 Joey m // Mar 15, 2008 at 9:45 am

  Be careful, most of them are a rip off and charge you hefty fees (which you obviouly can’t afford). Try to figure it out on your own or with a friend and do it yourself. It isn’t that diffficult.

• 7 pogo038 // Mar 13, 2008 at 2:04 am

  You may want to approach a bank & see if you can get a loan to pay off all debts. The interest rate may be better there. In the mean time, cut up all your credit cards. Only buy what you need & with money you have.

• 8 Why ask me? // Mar 12, 2008 at 2:24 am

  Cut your credit cards up in little pieces and don’t get another. Call your credit card companies and let them know you are going to transfer your debt to another credit card company for a lower rate. (This is only a threat) They will offer to lower your rate they don’t want to lose your business.

• 9 J Rebekah // Mar 8, 2008 at 7:15 pm

  I did this. It is a very good idea. The key is that you have to really understand what put you there. You have to change your habits, it is very easy to get back under.

  Make sure you work with a reputable company. They should charge a minimal monthly fee only. They should also have the type of financial counseling that will help you manage your finances and budget. Ok, now two platitudes for you that have been helpful for me: “It is not how much you save, it is what you don’t spend”(I think Suze Orman said this) and *The road to debt is paved with discount* This is to help you to be frugal, and not pseudo frugal.

Leave a Comment