Archive for December, 2009

Reduce Your Credit Card Debt

December 18th, 2009

Reduce Your Credit Card Debt photoGetting into debt is easy but getting out of it really a difficult task. This holds good for any kind of debt and includes credit card debt too. Credit card debt reduction needs planning and discipline in the way you spend money.

Credit card debt reduction starts with reduction in the expenditures you make using your credit card. So, the first trick for credit card reduction is to go for shopping without your credit card (carry some small amount of cash). This credit card reduction technique isn’t asking you to stop shopping, instead it’s just asking you to seriously evaluate the need of anything you want to purchase and not just purchase it on the spur of the moment. So, if you really-really need to buy it, you will go back to your home to fetch your credit card thus introducing a delay that is instrumental in killing spur-of-the-moment purchase (and hence helping in credit card debt reduction). It gives you time to evaluate if it’s really worth going back home and getting the credit card for purchasing that item. So, in this case, credit card debt reduction is achieved by preventing the debt from building up further. It’s a very effective credit card debt reduction measure.

The other effective way of credit card debt reduction is debt consolidation i.e. consolidating debt from high APR credit cards to a low APR one. So this credit card debt reduction measure works by reducing the rate at which your credit card debt grows. Moreover, this way of credit card debt reduction also gives you a breather in the form of a short initial period when the APR is 0%. Besides credit card debt reduction, debt consolidation also brings some additional benefits which are basically in terms of rewards etc offered by the new credit card supplier. Thus this method of credit card debt reduction is really more than just a credit card debt reduction method – it’s a benefit provider too. If you are not comfortable in taking forward this method of credit card debt reduction, you can seek the help of a credit card debt assistance company.

Besides these two credit card debt reduction measures, which are really the most important credit card debt reduction measures, there are other methods too for credit card debt reduction. Another one is to ask your current credit card supplier for help in credit card debt reduction i.e. by lowering the APR. It might work out for you (as it does for some people).

Also remember, that there are people (professionals) out there who provide advice on credit card debt reduction (just in case you need them).

Consumer Credit Debt Consolidation

December 17th, 2009

Consumer Credit Debt Consolidation photoThere are many consumer debt consolidation non profit companies out there and each one is capable of helping you with debt consolidation and getting your credit in shape. I have put together a partial list of consumer debt consolidation, non profit companies that you can look into.

Before you make a commitment to any of these companies, make sure to check them out thoroughly. As with anything in the world today, there are some that are not reputable. I have heard horror stories about consumer credit debt consolidation non profit companies that take a consumers money and do not pay the debts but keep the payments as fees owed to them. Others have had their credit completely destroyed because none of their payments were ever made on time by the debt consolidation company.

A list to get you started:

1.) Family Credit Help- Offers no obligation credit counseling. No setup fees to enroll.

2.) Nano Debt- Can reduce your debt by 80%. Free quote.

3.) Counsel Debt Solution- Free online quote in 2 minutes. No obligation, no credit check.

4.) Debt Consolidation- Is a global leader in debt management and credit counseling services. Make debt a thing of the past.

5.) Christian Debt Consolidation- Lower your monthly payments, reduce or eliminate high interest rates. 1 affordable payment a month. Free, no obligation quote.

6.) Excess Debt- Must have $10,000 or more in debt. Consolidate your debt and cut monthly payments.

7.) Freedom Debt Relief- Must have more than $15,000 in debt. Lower debt by 50 %. Payoff in 12 to 30 months. Get a free quote in less than 10 minutes. No fees are paid unless we save you money.

8.) Special Suggestion- Home equity loans, low rate financing. Specialize in less than perfect credit. Rates as low as 5.59% APR 30 year fixed, 4.32% 5 year ARM.

9.) How 2 solve debt- Search for consolidation services. Lower your monthly payments.

These are a few of the sites that offer consumer credit debt consolidation, non profit. I hope they will give you a good start on your search for a debt consolidation company to pay off your outstanding bills and get your credit back on track.

You can also find many more consumer credit debt consolidation non profit companies by going to your favorite search engine and typing in what you are looking for. You should be able to find what you desire through the list above and doing a search. Just remember to do your homework and get references when at all possible, before you give your money to anyone.

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