how to get out of debt

 

...Discover how a get out of debt plan:  
      -Helps reduce your bills & debt 57%  
......-Helps you pay off your credit card debt faster  
      -Lets you make one monthly payment  
......-Gives you money management advice for the future  
 

 

...Who qualifies for debt consolidation?
      -A monthly source of income

Start Debt Consolidation

......-Two or more accounts
      -Minimum of $2500 on these accounts  
   

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how to get out of debt Help & Advice

Credit Counseling: If you’re not disciplined enough to create a workable financial budget and stick to it, can’t work out a repayment plan with your creditors, or can’t keep track of mounting bills, consider contacting a Debt and Credit Counseling organization. Many Debt Help organizations are nonprofit and work with you to solve your financial problems. But be aware that, just because an organization says it’s “nonprofit,” there’s no guarantee that its services are free, affordable, or even legitimate. In fact, some Debt Negotiation organizations charge high fees, which may be hidden, or urge consumers to make “voluntary” contributions that can cause more debt.

Most credit counselors offer services through local offices, the Internet, or on the telephone. If possible, find an organization that offers in-person Debt & Bill Counseling. Many universities, military bases, credit unions, housing authorities, and branches of the U.S. Cooperative Extension Service operate nonprofit Debt Help programs. Your financial institution, local consumer protection agency, and friends and family also may be good sources of information and referrals.

Reputable Debt Help organizations can advise you on managing your money and bills, help you develop a budget, and offer free educational materials and workshops. Their counselors are certified and trained in the areas of consumer credit, money and bills management, and money plan. Counselors discuss your entire financial situation with you, and help you develop a personalized plan to solve your money problems. An initial counseling session typically lasts an hour, with an offer of follow-up sessions.

Debt Consolidation Plan: If your financial problems stem from too much debts or your inability to repay your debts, a Debt Negotiation agency may recommend that you enroll in a Debt Help Program (DMP). A DMP alone is not Debt Negotiation, and DMPs are not for everyone. You should sign up for one of these plans only after a certified Debt Help has spent time thoroughly reviewing your financial situation, and has offered you customized advice on managing your money. Even if a DMP is appropriate for you, a reputable Debt Negotiation organization still can help you create a budget and teach you money management skills.

In a DMP, you deposit money each month with the Credit Counseling organization, which uses your deposits to pay your unsecured debt., like your credit card bills, student loans, and medical money owing, according to a payment schedule the counselor develops with you and your debtors. Your debtors may agree to lower your interest rates or waive certain fees, but check with all your creditors to be sure they offer the concessions that a Debt and Credit Counseling organization describes to you. A successful DMP requires you to make regular, timely payments, and could take 48 months or more to complete. Ask the Debt Negotiation to estimate how long it will take for you to complete the plan. You may have to agree not to apply for — or use — any additional credit while you’re participating in the plan.

Protect Yourself

Be wary of Debt Couseling organizations that:

charge high up-front or monthly fees for enrolling in Debt Couseling or a Debt Consolidation Program.

pressure you to make “voluntary contributions,” another name for fees.

won’t send you free information about the services they provide without requiring you to provide personal financial information, such as credit card account numbers, and balances.

try to enroll you in a Debt Consolidation Program without spending time reviewing your financial situation.

offer to enroll you in a Debt Management Plans without teaching you money plan and money management skills.

demand that you make payments into a Debt Management Plans before your creditors have accepted you into the program

 

 
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