February 19, 2009

How to cut credit card debt

Most Americans have too much credit card Debt. Duh, we've all heard that before, right? Only now its gotten a bit personal... right again? You personally have too much credit card Debt and its about to drive you crazy.

Well there IS hope so don't file those bankruptcy papers just yet. One major thing you have to keep in mind is your creditor is probably very willing to work with you. Its in their best interest to have you making some payment versus no payment. So here are a couple points to help you deal with your credit card Debt.

The first thing you have to do is simply contact your creditor and let them know your situation. Ask for a lower interest rate or a repayment plan.

You might not have thought of it because you're just naturally so polite but its a very good strategy to be courteous at all times when negotiating with your creditor. Polite, but firm. Come across as one who knows what you're asking for and expect to get it. If you're not sure what you're asking for in the first place you might consider a reputable credit counseling service.

There's a lot of great, honest organizations out there whose mission is to help you work things out with your creditors.

Next you've GOT to stop using your cards. Cut them up, freeze them in a tub of water, whatever you need to do to get them out of your wallet or purse, do it! You simply can't keep adding to the problem by running the Debt up any higher. This is actually one of the hardest parts of cutting your credit card Debt. Its like you're addicted to spending money you don't have. So go cold turkey and drop the habit.

Start paying the ones with the highest interest rate first and work from there. How do you do that? Concentrate on those high interest rate cards by paying more than the minimum balance each month. The minimum is just designed to keep you on the hook longer anyway. The credit card companies
are in this business to make a profit and want to have you paying them for years to come. Even a little extra each month makes a big difference in the long run.

Lastly, keep your chin up and have a good attitude. Millions of folks just like you have begun to cut their credit card Debt by following the common sense steps outlined above. You can do it too. Good luck.


About the author: You can reproduce this article as long as you include the authors name and website.

Richard Townsend
www.cut-credit-card-Debt.com
http://www.cut-credit-card-Debt.com/
Circulated by Article Emporium

Securing a Debt Consolidation Loan

Like that dress you'll probably wear just once or the Egyptian silk sheets that you've been drooling over ever since you noticed that Jessica Simpson on Newlyweds sleeps on in luxurious comfort.

Besides, what's the harm in rewarding yourself for a job well done? You deserve some pampering too.You may even find yourself making plans at some luxurious spa, to sample of their relaxing (not to mention, extremely costly) facials, massages or treatments. After all, you work hard and so you've definitely earned it since you've been stressed out all month long from your hectic schedule and tight deadlines.

Have you thought about you future? You could simply hand in the towel and declare bankruptcy (many do) however, an alternative, less stressful and smarter way to go, is to at least initially, look into getting a Debt Consolidation Loan.

Like that dress you'll probably wear just once or the Egyptian silk sheets that you've been drooling over ever since you noticed that Jessica Simpson on Newlyweds sleeps on in luxurious comfort.

Besides, what's the harm in rewarding yourself for a job well done? You deserve some pampering too.You may even find yourself making plans at some luxurious spa, to sample of their relaxing (not to mention, extremely costly) facials, massages or treatments. After all, you work hard and so you've definitely earned it since you've been stressed out all month long from your hectic schedule and tight deadlines.

Have you thought about you future? You could simply hand in the towel and declare bankruptcy (many do) however, an alternative, less stressful and smarter way to go, is to at least initially, look into getting a Debt Consolidation Loan.

The thought of a Debt Consolidation Loan may not be all that enticing to most of the debt saddled, but then again what's the alternative - bankruptcy or paying minimums on your credit cards at 20% interest for the next 20 years? You are clearly aware that a ton of companies offer Debt Consolidation Loans, just the fact that you are reading this article attests to the fact that you've done some type of internet search related to debt or Debt Consolidation. You really have no choice but to simply move on, walk away from your past mistakes and hope that you've learned something useful. And then, incorporate those lessons into your future dealings with money and hope against hope that your Debt Consolidation Loan will be approved so that you can take the overwhelming burden of debt you've saddled yourself with and leave it far behind.

As you search for a Debt Consolidation Loan make sure you do your due diligence by shopping around and asking questions whenever you feel lost by the "financial jargon" or the whole process in general. If you do your part, you'll greatly increase your chances or working with a reputable company that's not out to take advantage of your current poor financial situation.

A final bit of advice, virtually all Loan Officers work on commission and so it's in their best interest to... 1) Make sure you get the Loan and 2) Charge you the highest interest rate possible and the highest possible fees and still make the deal. Never forget that you are in charge (regardless of your current financial state) and if you don't feel comfortable with your lender or what's being presented then simply move on until you find someone who treats you with the respect and dignity you deserve.

Canadian Debt Consolidation

Canadians as other nationals have the option of trying to qualify for Canadian Debt Consolidation.

A Canadian Debt Consolidation loan is when a bank or other lending establishment loans an individual enough money to pay off his or her loans in order to repay back the entire amount in a single payment often at a competitive interest rate. The purpose of this type of Canadian Debt Consolidation is to help individuals who can still make lower payments on their debts and to avoid having to file for bankruptcy. As with the Canadian Debt Consolidation loan, the outcome of using a Debt Consolidation service is to be able to make a lower monthly payment in order to satisfy debt but a good Debt Consolidation service allows a person to do so without taking on another debt. A Canadian Debt Consolidation service is trained to deal with lenders and lenders are comfortable dealing with a Debt Consolidation service.

When approaching any type of Canadian Debt Consolidation service, make sure that the terms of either the consolidation loan or consolidation agreement are acceptable and possible. If a Canadian Debt Consolidation service arranges to make lower payments on existing debts, make sure that those payments can be made.

Successfully using a Canadian Debt Consolidation service can make dealing with financial issues much easier on most individuals and can also help him or her to avoid filing for bankruptcy. If financial obligations are beginning to feel overwhelming or if bankruptcy is being considered, it would be a good idea to look into Canadian Debt Consolidation and see if it would feasible.

A Few Thoughts on Securing a Bad Credit Mortgage Loan

Alleviating yourself from huge credit card, as well as other head-spinning debts by assessing your options now, before all those debts start blowing up in your face is one way to right your financial ship. One plausible option is a bad credit mortgage loan, and it's a good first step towards a more financially disciplined lifestyle. In other words, a financial second chance.

Unfortunately, many people have a hard time facing the reality of their current financial situation and they foolishly think they can go it alone. Fortunately, today's credit markets have geared many of their programs for people just like you and they are more than happy to assist you with your financial woes by doing anything and everything possible to assist you in securing that much needed mortgage refinance to get you back to financial solvency.

First, be honest, how bad is your current financial condition. And remember, you need to face the facts honestly and stop playing games and don't let the possible embarrassment of having other's poking through your financial records deter you. You current financial situation if water over the dam, there's nothing you can do about the past so put it behind you and start making the right decisions from this point forward.

Rest-assured the individuals you will be working with are professionals who want nothing more but help you because it's in their financial interest as well since most loan officers work on commission if they can't find a way to help you they don't get paid. Bad credit mortgage loans are readily available but only if you are willing to get out there and put forth a little effort to dig around and find the right lender with the right program for you. Just remember that just because you may qualify for a bad credit mortgage loan, does not necessarily equate with you being off the hook.

Buying Your First Rental Property

With your determination Buying your first rental property, there is lots of effort. This endeavor may be challenging for this client. Posse...