debt relief

Debt Consolidation: A Few Pros And Cons Explored

The decision to opt for student debt consolidation should be factored on several crucial points. Financial experts often opine that it is better to steer clear of this method of debt management since (even with the smaller repayments) you end up paying much more than what you are paying on the several loans that have been consolidated in to one single payment. The repayment period is generally longer in case of debt consolidation and as such you end up paying more in the long term. On the other hand, since you’re down to one single consolidated debt from several ones, it becomes easier for you to keep track of your repayment.

Let us learn more about the merits and demerits of this phenomenon. However, even before delving into further details, it’s wise to remember that even if you’re opting for consolidation, you should take due care in going through reliable Services review in order to determine which debt consolidation program you should opt for.


If you have loans with multiple lenders or creditors and it becomes difficult for you to keep track of the payments to be made by you, you can resort to consolidation that helps you bring all your debts under one umbrella loan (for which you are answerable to only o5025164562_6af1ac753c_nne lender). Therefore it becomes easier for you to keep track of your payments.

Since the repayment period is longer, you can repay smaller amounts.

You can look forward to reinstating all your loan benefits like eligibility to apply for financial aid, deferments etc after you have made satisfactory arrangements for loan consolidation. Actually most of these benefits are removed once your debts are placed in default- but after opting for consolidation (i.e. when you’re placed out of default) you can look forward to the reinstatement

There generally are no application processing fees or prepayment penalties

The money that you’re saving up each month can be used for paying up other important dues like utility bill, rent etc- in short—- there is substantial improvement of cash flow with all your debts being consolidated


There are chances that you might not qualify for the same deferments on your consolidated debts as those which were applicable on original loans

If you are including Perkins loans in the consolidation then you might end up losing the chance to qualify for certain forgiveness programs

As already mentioned above, a longer repayment period would eventually mean that you are paying up more in the long term


Its important to weigh the pros and cons carefully before opting for a consolidation program. Consolidation- it’s often opined – should be your last resort. If you’re struggling with your existing debts then you should first have a word with your bank or credit union. Find out if your family can chip in with help or not and then consider seeking the aid of consolidation.

Raise Your Credit Score Fast -Add 100 Points By 18 Months!

Today let’s focus on the best ways to increase your credit score. Without wasting time lets jump right into it.

1. Improve the “Utilization Rate” on your Credit Cards and Unsecured Loans. Then continue to use your credit cards, pay them off in full each month and consistently increase your credit limits.

Your credit score will increase as you reduce the balances on your credit cards.  Your credit score is based on a number of different factors, but one of the most important aspects of your credit score is the utilization rate factor. In other words, how much of your credit limit are you using on each of your credit cards?

It is a best practice rule to use no more than 30% of your credit limit.  If you use more than 30% of your credit limit on any one of your cards, that could lower your credit score. An example would be if you had a $10,000 limit on one of your credit cards, you would want to always keep the balance on that card below $3,000.

After paying each of your credit cards off in full, now you must continue to use them, but only charge what you can afford to pay off when the bill arrives.

Don’t leave any balance on your credit cards. This will also save you money in interest!

After practicing this perfect payment pattern for 9 months straight, it is now time to ask that your creditors raise your credit limit by 20% of whatever it is now.



If you have a $10,000 credit limit today, after 9 months of using your cards and paying the bill off in full each month, ask that the bank increase your limit to $12,000. Your long-term goal should be to have high credit limits on all of your accounts.

2. Eliminate debt collection marks that are showing up on your credit report.

This next tip will clear 50% of your debt collection marks that are over 2 years old. So if you have more than 10 old collection marks on your credit report, this will get rid of at least 5 of them right away. A professional debt relief company can assist you with any remaining debts that you are unable to clear up on your own.

Here is how you eliminate debts or remove them from your credit report on your own.

Get your free credit report. For less than $10 you can get a membership at Review your credit report and score there.

Anything negative on your credit report that is more than 2 years old, simply dispute. With they give you the ability to dispute marks on your own. Just go to the membership section and click on where it says “dispute center”. Select the reason that best fits your situation, in regards to why you are disputing the mark, and then click submit! Like magic, you will notice that most of the old marks that you have remaining on your credit report, disappear after disputing them.

After you dispute the mark, now the debt collection company has only 30 days to verify and validate that the debt is yours. Most of the time if you have a debt collection mark on your credit report that is more than 2 years old, the debt collection agency who owns that account, will no longer have all the documentation necessary to prove the debt is yours.

If they cannot prove that the debt is yours, then it cannot stay on your credit report, according to the Fair Credit Reporting Act.

3. Ask your mom, dad, husband, brother, friend or anyone that trusts you, to add you to their best credit card as a favor. What you will be doing is piggy backing on their perfect payment history, and this will raise your credit score fast!

Make sure that they add you as a “joint user”. This way you will be credited for their perfect payment history. Sometimes if you get added as only an authorized user, they will not report the payment history. Obviously make sure that you trust this person, and make sure that whatever card they add you to, has less than 30% of the credit limit used. This means that if they have a $10,000 credit limit, and a $5,000 balance, don’t get added to that card.

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Paul Paquin is the CEO at Golden Financial Services, a credit card debt relief company.

5 Top Tips To Stay Out Of Debt In 2012

5 Top Tips To Stay Out Of Debt In 2012

Heading in to 2012, millions of people will strive to keep their New Year’s resolutions. Many have set goals to lose weight, others to achieve a career goal, yet probably the most important resolution that we can make, is to get out of debt and stay there.

In most cases, staying out of debt is simply a matter of budgeting and self-discipline. The best rule to live by to avoid getting into debt in the first place is this: If you can’t afford it, don’t buy it!

These are great words to live by, but not always easy to apply in everyday life. Retailers encourage us to shop, offering easy, in-house financing to purchase large ticket items that we really can’t afford. They seduce us with low monthly payments, but neglect to mention the finance charges, which considerably increase the amount we actually repay. This is where self-discipline comes in: resist the slick sales pitch.

The following 5 tips will help you to avoid falling into the debt trap, and keep you on track for 2012:

1. Live Within Your Means

For some people, this is the Mt. Everest of personal finances. It can be difficult, especially if you have never applied self-discipline to your spending habits. If you are serious about staying out of debt, the key is to spend less than you make. This may mean cutting out that daily mocha cappuccino, the impulse purchases when shopping, or cooking instead of dining out. Review your spending habits to see where your money is going, and to determine areas where you can save.

2. Will That Be Cash Or Credit?

Credit card companies make it easy to overspend. After all, you can charge it now and make monthly payments, right? Not so fast! Before slapping that plastic on the counter, consider the total cost of an item, including interest charges, in case you end up carrying a balance. By paying cash, you will avoid the temptation to overspend.

3. Pay Balances In Full

Many credit cards offer great reward programs where you can earn air miles, cash back, store credits and many other perks. The trick to taking advantage of these programs, is to charge only what you can pay off each month. This way, the credit card company is paying you to shop. Enjoy the rewards!

4. Lock Up Your Credit Cards

If you are one of the millions of people who has a hard time resisting impulse buys if you have plastic in your wallet, then by all means, take it out! Lock your cards away and resist the urge to take them with you when you leave the house. If you don’t have them handy, you can’t use them, right?

5. Create A Budget You Can Live With

To stay debt free, you need create a budget you can live with – and stick to it! Working within your income, be sure to include all regular expenses, designate a set amount to put in savings each month, and leave a little to spend.

Apply the principles we have outlined here, add a liberal dose of common sense, and you can stay out of debt in 2012!

About the Author
This article was written by Phill representing – an independent financial website bringing together and comparing available log book loans.

Dancers and Credit Card Debt Relief

As with individuals of all vocational backgrounds, dancers face the potential threat of credit card debt. Whether accrued as a result of irresponsible spending, budgetary dependency or just unfortunate life circumstances in general, debt can become a significant barrier to financial independence. Although individuals facing credit card debt may have to have missed multiple successive payments in order to qualify for such programs, debt relief options offered by credit card companies are available for any individual facing an unmanageable amount of debt, or those who are simply unable to make minimum monthly payments to their creditors. Dancers, like other entertainers, are not only individually responsible for their own financial recordkeeping and accountability for income, but face unique circumstances under which it may be difficult to provide the documentation necessary to enroll in credit card debt relief programs.

One of the most important things for dancers to take into account when evaluating their financial situation is their standing as a non-traditional employee,  viewed by the IRS as an “independent contractor,” or a person who provides services to a business that, although resemble those provided by salaried employees, are not rendered in exchange for per-hour or salaried pay. Rather, dancers, like other entertainers and independent contractors, are required to file their taxes (specifically income and expenses) in the same fashion as a sole proprietorship or, to a lesser extent, a small business.  Unlike traditional employees who are considered taxable recipients of workplace compensation, most dancers do not file W-2 forms when paying their taxes, but rather, 1099 forms required for independent contractors. This means that unless dancers consistently file their taxes in this manner, allowing them to produce documented proof of income if necessary, many will have a difficult time obtaining loans, refinancing and, subsequently, the debt relief offered by traditional sources (credit card companies, lending banks, etc.).

Another factor that dancers should take into account when seeking out programs that provide credit card debt reduction services is the issue of personal financial accountability, or more specifically, whether or not the income generated by dancing is predictably consistent enough to qualify for a debt relief program. This may include calculation of average income generated over a given number of shifts, predictability of such income and incorporation of any additional sources of income into the equation. Although debt relief programs are designed with the intention of providing a reduction of one’s debt and, subsequently, lower payments and interest rates, most (if not all) of these programs will require proof of income, verifying the ability to make payments required by the specific deft relief plan in which they are attempting to enroll.

Although documentation of anticipated income over a given amount of time may technically count as legitimate (in terms of ability to be applied to any relief programs provided by creditors), such income is not the same as that received by on-payroll employees who are able to provide pay stubs and other “official” documentation of income. Thus, Dancers enrolling in debt relief programs should expect to be asked for slightly higher monthly payments than those requested of traditional, salaried employees who file standard W-2 tax forms. Further, dancers should not only file 1099 forms that are able to serve as documentation for income generated as a regularly-scheduled independent contractor, but they should also keep reports of any and all sources of income from which a case can be made that they are able to make the minimum monthly payments required by their creditors. Still, the circumstances that dancers face in nearly every aspect of financial accountability should be recognized as such, and it is never a bad idea for dancers to obtain a minimal amount of W-2 taxable employment so that at least some verifiable income can be presented to creditors offering debt relief programs.

Wedding Debt Relief Tips: Cut Costs Or Suffer A Royal Headache

Wedding Debt Relief Tips: Cut Costs Or Suffer A Royal Headache

After the passing of the royal wedding, even the most staunchly democratic couples on both sides of the pond would find it hard to ignore the ever more fantastic details and gaze longingly at the price tags final number. Hard as it may be to believe, though, for all the stories of eight hundred thousand dollar cakes and tailored formal wear worth more than the price of a London townhouse, Prince William and his fiancee Kate Middleton actually attempted to cut costs relative to the more ostentatious displays of past ceremonies.

Considering that Great Britain’s continuing financial woes have forced the national government to lay off nearly half a million employees and trim more than a hundred billion dollars in debt relief efforts intended to firm up the country’s Treasury bond valuations among the global marketplace, any signs of restraint are still admirable signs of social decorum and adjustment to the changing role of nobility within the twenty first century. Furthermore, since the media coverage of the wedding shall undoubtedly have significant cultural repercussions for a credit card debt ravaged generation juggling bills to avoid bankruptcy, there are lessons that should be extrapolated by any couple to maintain emphasis upon debt relief.

Use What You Have

Admittedly, not every family has free use of Westminster Abbey to be utilized without cost at their discretion, but, with the rental of halls for matrimonial ceremonies priced at such an exorbitant premium these days around most urban centers, you will want to sit down and speak to your partner about any resources that would be both acceptable and available at reduced expense. Even if there isn’t a picturesque beach house or mountain chalet unused by some great aunt or favored cousin, think about friends who specialize in photography or floral arrangements and would be happy to ease the wedding’s debt relief by performing such services free of charge.

Limit The Guests

If the future King of England could afford the social embarrassment of not sending invitations to President Obama or his nation’s past two Prime Ministers, surely you and your spouse could ignore a few college roommates or work acquaintances without undue tensions. Nothing rockets up the credit card debt balances more quickly than the exponential effect of adding more mouths for the caterers to feed, and, wedding planners will be quick to remind the hopeful couple, additional guests will only truly dilute the importance and meaning of the blessed event for the friends and family you truly want to share in the moment.

Consider The Prenup

Although William and Kate Middleton eventually decided against signing a prenuptial agreement, according to royal insiders who pointed to the Prince’s desire to maintain traditions, it’s still a good idea for any couple about to share finances to at least discuss the option, even (or, for some financial advisors, especially) if they’ve minimal assets. Since the average divorce agreement threatens to concentrate disputes on credit card debt settlement rather than the dispensation of investments or jointly purchased property, just talking over the issue allows an easy way for couples to first seriously talk about credit card debt problems that may have otherwise been brushed aside during the period of courtship.

Selecting the Right Debt Settlement Attorney for Debt Settlement

Selecting the Right Debt Settlement Attorney for Debt Settlement

Are you tired of weekly collection calls, little sleep, and a spiraling debt burden that is pushing you further and further behind your ideal life? With the current economy, today is a perfect time to present your creditors with a debt settlement offer. Let go of some unnecessary stress. A debt settlement attorney is specially trained to help you navigate the legal system and settle your unsecured debt for less.

What Is Unsecured Debt?

First off, what kind of debt qualifies for assistance? An unsecured debt is simply a financial obligation where the lender does not hold any collateral. Most credit card debt, department store debt, personal loans, and medical bills are unsecured and can be settled for less than you owe.

Examples of bills that are NOT eligible are mortgages, car loans, student loans, alimony, and tax debt. You may have other options for renegotiating these obligations, but they will not be part of your unsecured debt settlement.

Creditors make their money off interest payments and fees, so as long as you are able to make minimum payments, they will not be interested in settling. When you slip to 90 days or more past due and the risk of bankruptcy increases, most creditors will finally consider a debt settlement agreement.

The Next Steps of Debt Settlement

If you meet these guidelines and qualify for financial relief, your debt settlement attorney will work with you to prepare the best course of action for your situation. Typically, the initial plan involves contacting each creditor and negotiating reduced interest rates, debt forgiveness, or other payment plans. The goal is to eliminate fees, reduce your payment burden by up to 60%, and give you some room to afford regular payments. Your debt settlement attorney will take care of all communications with creditors and collection agencies, help you correct errors on your credit report, and give you the tools to get your credit history back on track. Keep in mind that settling unsecured debt will impact your credit history, but it is often a better route than giving up and declaring bankruptcy.

When you are beyond the help of credit counseling, debt settlement is an excellent solution. The small amount you will pay in attorney fees is well worth chopping your unsecured debt in half and getting your finances back on track. Contact your debt settlement attorney and discuss your options for financial freedom.

About the Author: The author of this article has good experience in the finance field, specializes in the process of settling debts and he has written several articles on Debt Negotiation Attorney for those people who would need financial assistance and debt settlement services.

Fastest way to become debt free

Fastest way to become debt free

Eleanor Simpson is a debt counselor for Franklin Debt Relief, the leading company in debt settlement programs for consumers.

Are you looking for the fastest way to become debt free? Bankruptcy is no longer the best option, since the 2005 overhaul significantly reduced the number of consumers who qualify for financial relief. Balance transfers or ten-year consolidation loans are not quick fixes either. You could always work another job or sell your possessions, but the extra effort and stress is often not worth the payoff. Fortunately you have access to experienced debt relief  professionals who will work with your creditors and can slash the amount you owe by up to 60%. Debt settlement services can help you become debt free in as little as 12 to 36 months. If you are behind on your credit cards, store cards, personal loans, etc. by 90 days or more, your creditors want money and they will settle to obtain it. Depending on your situation, you have two plans from which to choose: lump sum settlement or periodic payment settlement.

In a lump sum settlement, the debt relief service negotiates with individual creditors and collection agencies to find a
single, final payment that will end their harassment. This payment is typically 40 – 60% of your balance and completely satisfies the debt. A lump sum settlement typically takes four to twelve months and then the debts are marked as settled on your credit report.

The second option is a periodic payment settlement. In this scenario, your debt relief service still negotiates with your
creditors, but you will continue to make payments until the settlement threshold is met. This option is convenient for
people who cannot afford to make a lump sum settlement payment, but it does take two to five years to complete. A
periodic payment settlement is still a better option that attempting to make minimum payments on high-interest credit
cards to become debt free.

Working with debt relief services is the fastest way to become debt free. Use the experience of these financial professionals to navigate complex legal requirements and convince your creditors to work with you. By negotiating a simple settlement agreement, you can gain a fresh start to your financial future.

Credit Card Debt – Five Signs You Should Seek Help

Credit Card Debt – Five Signs You Should Seek Help

The Average American has credit card debt balances that are quickly approaching ten thousand dollars. With soaring interest rates increasing the principal substantially, it is little wonder that more and more debtors are filing for bankruptcy every year. Fortunately, there are several debt relief alternatives to bankruptcy that can help you pay off your unsecured loans without taking such measures. Below, we’ve listed a number of signs that should show you are ready to enlist the services of these programs.

1.) Past due balances

Of course, failing to regularly make the monthly payment requirements on your credit card debt statements would be reflection of a need for debt relief.  There are numerous reasons to account for a failure to meet the demand – unemployment, divorce and medical bills are all prime examples of financial hardship, any of which can trigger a cycle of falling behind in payments which in turn makes it that much harder to get ahead.

2.) Late payments

Paying your credit card debts behind schedule hurts your credit score and raises the attention of debt collectors.  Getting behind on payments can also cause credit card companies to increase you rater of interest, making your ability to pay that much more difficult with every passing month, and invalidate some forms of debt relief.

2.) Minimum payments

Though you may find enough resources to barely come up with the monthly minimum payments required by your credit card debt accounts, just meeting the minimum does little to actually reduce your totals, particularly when considering the interest charges applied each month.  You’ll find that this pattern results in your principal increasing over time.

4.) Creditors are calling

As soon as you fail to meet the payment schedule for your credit card debt, you will likely begin to receive calls from your lenders, reminding and/or requesting you to pay.  This is an early sign that your credit card debt has exceeded your means.  Stepping up your efforts to regain debt relief control will become a necessary measure.

5.) Collections

Generally, a credit card debt that is sixty days overdue is only then assigned to a collections agency, but some companies will take actions as soon as a single payment is late.  At this point, if you are unable to manage the payment of the past due debts, it is highly recommended that seek the help of a debt relief service for guidance.

What’s next?

The longer you wait to address unmanageable credit debt, the more severe the problem gets.  Yet as dire as the situation may appear, it may not be necessary to go the lengths of filing for bankruptcy.  There are debt relief programs available that can help you manage your credit debt and pay off your lenders without the involvement of the court system.  The most effective new credit card debt relief option, debt settlement negotiation can be highly instrumental in lowering your debts to the extent that they could be eliminated in just sixty months.  Following a consultation – make sure you sign up with a firm that offers no cost consultations, estimating facts and figures up front and for free – a debt settlement professional will barter with your credit card debt lenders in the hopes of lowering your overall debt by as much as sixty percent, to be repaid through just a single monthly bill.

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