Personal Credit Card Debt How to Earn 1835
Personal Credit Card Debt How to Earn 1835
When searching for a solution, look for a company that understands that there is not a one size fits all answer to personal credit card debt. Many factors come into play when you begin looking for help.
The first few steps are basic, but must not be overlooked.
1. Sit down and write out a household budget that includes every dollar you spend.
2. Write out your short and long term goals.
3. Educate yourself on the laws in your state that pertain to debt and the penalties of default.
4. Search for and compare companies from each category of personal credit card debt help.
5. Make a plan and stick to it after you choose the best solution for your situation.
“There are many choices consumers face when it comes to taking care of personal credit card debt.” says Eric Pinola, director of enrollment for Credit Alliance Group.
Consumer Credit Counseling Services:
Consumer Credit Counseling Agencies (CCCS) claim to be non-profit agencies that, for an 8-15% fee paid by the lender, can sometimes lengthen the term of your debt and so reduce some of your interest; however, your outstanding debt principal is not reduced.
Your creditors will report to the credit reporting agencies that you are working with a credit counseling agency. Most lenders see credit counseling as negative. Additionally, this approach is typically a longer-term approach to debt resolution, taking 5-12 years compared to Debt Settlement, which can be completed in 3 years or less.
Bankruptcy:
Many people faced with financial hardship rush to bankruptcy as a method of resolving their debt concerns, although their problems might have other solutions. We believe bankruptcy should ONLY be used as a LAST RESORT; pursued ONLY after all other debt relief remedies have been explored. A bankruptcy filing is a very detrimental entry on your credit history, and can remain on your credit reports from 7 to 10 years after the bankruptcy filing has been discharged. Bankruptcy will not improve your credit rating. It will also be listed as a public record for anyone to see in the future.
Debt Consolidation Loan:
Debt Consolidation involves pursuing a NEW loan in an amount sufficient to pay-off all your existing debts. One of the challenges with Debt Consolidation is that it involves QUALIFYING for a NEW loan; generally it is difficult for individuals already in debt, or for those who have poor credit, to qualify for new loans. The risk of foreclosure or repossession is high if you fail to meet creditor conditions. Additionally, under Debt Consolidation you are still responsible for the entire amounts of all your existing debts.
Debt Settlement:
A typical settlement can be accomplished within 6 to 36 months with a lower monthly payment than any other debt resolution option. Under Debt Settlement they negotiate with your creditors to settle your debt for amounts significantly less than you owe; typically they can settle your debts for 40-60% of your outstanding balances, saving you money on debt principal AND interest, and providing you the opportunity to pay-off your debt faster. They allow you to stay in complete control as they work with you.
Would you like to see a higher return on investment? How about a steady 18-35% annually?
Personal credit card debt is one of the worse things to keep around. Look at the interest rates that you have and see how many are lower than the rate of return you get on your investments. You may be surprised to see that the 7% annually you receive through your mutual fund or stocks does not even come close to the 18% -35% you pay each month on your personal credit card debt.
Take a moment and speak to one of our Sr. Credit Specialist’s and find out how we can help you reach your goal of becoming debt free again. We offer a Basic, Pro, and Elite Edition of our debt settlement programs, so you have the ability to choose an option that fits your needs. Taking care of your personal credit card debt should be a priority; make it a new year’s resolution that you actually keep!
Personal Credit Card Debt How to Earn 1835 - To learn more about this author, visit Eric Pinola's Website.
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From September 2008 into December there has been a huge increase in people looking for a way to take control of their unsecured personal credit card debt. Credit Alliance Group, a Dallas based debt management company has seen a 61% increase in traffic on their website from consumers searching personal credit card debt. Even with current gas prices being lower than they have been in over 3 years, Americans are still feeling the pinch of food inflation and high interest rates on unsecured debts. Many people experience depression and anxiety over their debt while trying to survive the daily stress of life. Families that have never been in this type of situation are searching for a way to handle increasing interest rates and adjusting mortgages. It’s natural in uncertain times like these with financial markets reeling around the globe and no one sure whether last week’s bailout package will work, that you would want to do something, anything, to get rid of your unsecured credit card debt.
When searching for a solution, look for a company that understands that there is not a one size fits all answer to personal credit card debt. Many factors come into play when you begin looking for help.
The first few steps are basic, but must not be overlooked.
1. Sit down and write out a household budget that includes every dollar you spend.
2. Write out your short and long term goals.
3. Educate yourself on the laws in your state that pertain to debt and the penalties of default.
4. Search for and compare companies from each category of personal credit card debt help.
5. Make a plan and stick to it after you choose the best solution for your situation.
“There are many choices consumers face when it comes to taking care of personal credit card debt.” says Eric Pinola, director of enrollment for Credit Alliance Group.
Consumer Credit Counseling Services:
Consumer Credit Counseling Agencies (CCCS) claim to be non-profit agencies that, for an 8-15% fee paid by the lender, can sometimes lengthen the term of your debt and so reduce some of your interest; however, your outstanding debt principal is not reduced.
Your creditors will report to the credit reporting agencies that you are working with a credit counseling agency. Most lenders see credit counseling as negative. Additionally, this approach is typically a longer-term approach to debt resolution, taking 5-12 years compared to Debt Settlement, which can be completed in 3 years or less.
Bankruptcy:
Many people faced with financial hardship rush to bankruptcy as a method of resolving their debt concerns, although their problems might have other solutions. We believe bankruptcy should ONLY be used as a LAST RESORT; pursued ONLY after all other debt relief remedies have been explored. A bankruptcy filing is a very detrimental entry on your credit history, and can remain on your credit reports from 7 to 10 years after the bankruptcy filing has been discharged. Bankruptcy will not improve your credit rating. It will also be listed as a public record for anyone to see in the future.
Debt Consolidation Loan:
Debt Consolidation involves pursuing a NEW loan in an amount sufficient to pay-off all your existing debts. One of the challenges with Debt Consolidation is that it involves QUALIFYING for a NEW loan; generally it is difficult for individuals already in debt, or for those who have poor credit, to qualify for new loans. The risk of foreclosure or repossession is high if you fail to meet creditor conditions. Additionally, under Debt Consolidation you are still responsible for the entire amounts of all your existing debts.
Debt Settlement:
A typical settlement can be accomplished within 6 to 36 months with a lower monthly payment than any other debt resolution option. Under Debt Settlement they negotiate with your creditors to settle your debt for amounts significantly less than you owe; typically they can settle your debts for 40-60% of your outstanding balances, saving you money on debt principal AND interest, and providing you the opportunity to pay-off your debt faster. They allow you to stay in complete control as they work with you.
Would you like to see a higher return on investment? How about a steady 18-35% annually?
Personal credit card debt is one of the worse things to keep around. Look at the interest rates that you have and see how many are lower than the rate of return you get on your investments. You may be surprised to see that the 7% annually you receive through your mutual fund or stocks does not even come close to the 18% -35% you pay each month on your personal credit card debt.
Take a moment and speak to one of our Sr. Credit Specialist’s and find out how we can help you reach your goal of becoming debt free again. We offer a Basic, Pro, and Elite Edition of our debt settlement programs, so you have the ability to choose an option that fits your needs. Taking care of your personal credit card debt should be a priority; make it a new year’s resolution that you actually keep!
Personal Credit Card Debt How to Earn 1835 - To learn more about this author, visit Eric Pinola's Website.
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 Eric Pinola (Visit Eric's Website) Credit Alliance Group is a leading debt management company in Dallas, Texas that provides solutions to any unsecured debt challenges. As the director of enrollment I am encouraged to see how much we can help people each day. Our programs are built around the client’s budget; so that they can become debt free again without unnecessary stress. We offer a Basic, Pro, and Elite edition of our services. The road to becoming debt free can be long and hard so it is important to make the journey with a company that truly cares and has the experience to get the job done right the first time. Check out our website; or give us a quick call for a free no obligation enrollment package with your figures in it. 1-866-359-5677 www.creditalliancegroup.net or debt-credit-repair.com/index.html
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