Archive for January 9th, 2008

How to Find Debt Relief - Is it Really Possible or Just a Scam?

It is possible to find real debt relief without falling for any scams? Although there are many companies out there who will take your money and claim to provide you with debt relief, it’s usually best to manage it yourself. Let’s face it. You are going to manage your money better than some big, faceless company who doesn’t know you from anyone else.

My wife and I have managed to pay down over $10,000 in debt in under 2 years using a debt elimination system on our modest teaching salary. We didn’t have to go with any debt management company because we decided that we could manage it better ourselves. We did it ourselves, and you can do the same. Here are the 3 steps that we took to find debt relief.

First, stop digging yourself deeper in debt. I know this is probably a hard pill to swallow but it’s the truth - cut up the plastic. Every penny that you t teaching salary. We didn’t have to go with any debt management company because we decided that we could manage it better ourselves. We did it ourselves, and you can do the same. Here are the 3 steps that we took to find debt relief.

First, stop digging yourself deeper in debt. I know this is probably a hard pill to swallow but it’s the truth - cut up the plastic. Every penny that you spend on interest is less that you’re spending to actually get out of debt. Stop digging the hole deeper. My wife and I cut up all of our credit cards except one.

Second, live within your means. Make a budget and stick to it. Start using your debit card, instead of credit cards. Whenever you pay cash, it’s cheaper in the long run. Every time we’d go to the mall the store would offer us a new credit card with 0% interest. We wouldn’t take it. Why? The store knows that most people will not pay off their bill in full and eventually end up paying the interest. Otherwise why would they offer it?

Third, start paying off your existing debt. We started making a few changes in our monthly budget that added up to some big savings which we used to pay off our bills. For example, we started taking our lunch to work and shopped around for the best deals on products and services that we normally used.

When starting to pay off your debt, it’s usually best to start with the one that has the smallest balance. That way, you can feel a sense of accomplishment faster. Then, after you have the first one paid off, you can start paying off the next one.

The key is to focus on one debt at a time. Many times people will pay a little here or there, but it doesn’t work. You must totally concentrate your efforts on eliminating one debt only.

Also, don’t worry about starting with the debt that has the highest interest rate. Why? What you’re trying to do is get a “snowball effect” going. Once you have paid off the first debt, then you’ll take that former minimum monthly payment and apply it to the second bill. Do this for all of your debts and you will find the debt relief you need.

This is the same debt elimination system that my wife and I have used. It’s guaranteed to work every time. Another side benefit of payoff debt is that you’ll automatically have extra money built in your budget for emergencies. For example, at one point we had over $200 a month that we were applying to pay off debt. One month, we had some unexpected expenses. So instead of applying that $200 towards debt, we used it to pay the unexpected medical bills instead of charging it. This works as long as you get back on track the next month to pay off debts.

Michael Harris has been teaching people how to find debt relief for the past 9 years. Learn how you can live life on your terms by destroying your debt! Take his free course at http://www.debt-destroy.org

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Consumer Credit Counseling Services In Colorado Providing Debt Relief Help

People in Colorado are lucky in that they have a plethora of consumer credit counseling services available to them as an aid to getting their finances back on track. These services are needed now more than ever before. Credit card use - and abuse - is on the rise as people are depending more and more heavily on the cards in their possession.

Where once a credit card was used only in an emergency, or to finance a big or important purchase such as a set of living room furniture or a diamond engagement ring, today’s consumers are using their credit cards for their everyday living expenses such as a latte at Starbuck’s or a box set of “Get Smart” DVDs. It’s no wonder that so many people are finding themselves in financial trouble as they accumulate more and more debt.

Help Is Available

That’s where consumer credit counseling services come initure or a diamond engagement ring, today’s consumers are using their credit cards for their everyday living expenses such as a latte at Starbuck’s or a box set of “Get Smart” DVDs. It’s no wonder that so many people are finding themselves in financial trouble as they accumulate more and more debt.

Help Is Available

That’s where consumer credit counseling services come into the picture. Once consumers find out exactly what these companies can do for their financial problems, they are welcomed with open arms. People need someone to walk them through a solution to their problems. Many households are able to only pay the minimum balance due on their cards, and the high interest rates eat up most of that, leaving very little to go toward the principal. And, with the spending habits so many Americans have gotten themselves into, that minimum payment is almost like paying nothing at all.

Credit counseling services offer free consultation to harried Colorado consumers. Most will decide that debt consolidation is the solution for them, and with good reason. This option saves them money while at the same time, combining all of their credit card payments into one monthly payment that is almost always lower that the sum total of the bill amounts that they have been paying previously.

Colorado counselors can help their clients create a budget that is suitable for their household and their circumstances, teach them how to more efficiently manage their money, and prove to them that with a little diligence and care, they can take the reins and be in full control of their finances now and in the future.

If for some reason you are nervous about going into the offices of the credit counselors and discussing your personal business with a relative stranger, you have the privilege of telephone counseling. This is preferred by many people, especially busy business people, who are happy to discuss their finances on their lunch hour via the phone, instead of having to keep an after work appointment.

Colorado consumer credit counseling services have a goal to help the people of their state to learn about money management and how to best resolve their credit card woes. Financial difficulties have become a thing of the past for many families who have taken advantage of the marvelous services available to them.

Learn how to get a totally free credit report by visiting http://www.creditreportguideonline.com, a popular credit report and repair website that specializes in providing help where to get a free credit rating

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