My Debt Relief Plan

Seven Tips To Help You Avoid Needing Credit Card Debt Relief

Do you enjoy purchasing items online? Do you enjoy making payments wherever you are without having to mail in money or go to a store? You probably love the credit card then. The credit card may have a lot of advantages but there are also a lot of disadvantages. This article will give you some tips on how to avoid credit card debt relief.

Here are some tips that will help you to avoid needing credit card debt relief:

-Contacted a financial advisor and discuss with them your financial situation before you apply for a credit card.

-Make sure you know your balance in your account down to the last penny. It is very important that you know your balance because if you do not and you go out and spend money when you do not have it you can get charged heavily. I went out and bought a Coke when I did not have the money and a $1 Coke became a $31 Coke when I was charged with an overdraft fee.

-Remember that a credit card is not free money, you will still need to pay the money off sooner or later. Use the card wisely otherwise you will find yourself in big trouble.

-Never spend more money than you have. If you spend more money than you can repay it will not only put you into debt but it will damage your credit and your credit ratings. This will also eventually damage your chances to get a loan approval.

-If you use your credit car to buy an item keep the receipt. You should keep all receipts because they will come in handy when you get a monthly bill. If a credit card company miss charges you and you have your receipts to prove it you can get it fixed easily.

-Make sure that you pay your bills on time to avoid getting hit with heavy interest rates. If you do get hit with a heavy interest rate than you will have a more difficult time paying off your total. Also, pay the complete bill, avoid paying partial payments.

-Only pay the payment of a credit card to the same credit card company. Do not pay the total owed of one credit card to another credit card company.

These are just some tips I have found helpful that will help you to avoid needing credit card debt relief.

Add comment June 30th, 2007

Debt Reduction Advice From A Debt Specialist

More and more people are finding themselves in debt these days. I do not mean the fact that they have a mortgage but debts more to do with things like credit cards, loans or overdrafts. In this article I will be writing about how people can go about starting to reduce their debts, advice which I hope will prove to be very beneficial to its readers.

I have had personal experience of being in debt and for all of those people who have been fortunate enough to have had a debt-free life, I can tell you that it was one experience that I certainly do not want to go through again.

I went through various stages of emotion. There was the fear, how am I going to get out of this mess? Will I ever be able to become free from debt? What will my family and friends thing of me when they find out what a failure I am? I say the word failure as that is what I thought I was in these darkest of days.

I also felt very guilty. I had let my family down, I should have been a lot more careful but had been reckless with my money. To get out of debt would mean that my whole family would have to sacrifice many things for a number of years, for example going on holiday.

Then there was the depression and feeling sorry for myself. I do not want to write too much about these emotions as I am embarrassed to admit that I felt this way. Lastly was feeling ashamed at getting into debt in the first place. I think I am quite a clever chap but maybe I am not.

Eventually I decided to face up to the debt problem. I was brave enough to talk to my family, they were initially very shocked but would prove to be an invaluable help to me.

I then seeked help from a debt specialist, he put me in touch with a company who would ultimately change my life. This company contacted all of my creditors and managed to persuade them to freeze all of the interest payments to ensure that the debt did not continue to grow. They also worked out a repayment program for me at a monthly rate which was affordable.

It is a going to be a long process but I am finally on the way back into the black.

Add comment June 30th, 2007