Debt Clear Direct

by MoneyAware

Debt Counsellors And Consolidating Debt
Perhaps you have found yourself slipping so seriously into debt that you needed to approach a debt counsellor to help you sort out the problem. This, they will no doubt do for you. They have vast experience and they know exactly how to handle your problems. You just need to follow their leadership. They may decide to consolidate your debts into one package and you will have to pay an affordable amount off monthly or weekly, until your finances are under control again. Or they may give you advice, help you to work out a budget for your day to day living, and show you the best ways to spend the least amount of interest. Your life is slowly coming back under your control again. Now you have to face the next question. How to prevent it ever happening again?

There is only one rule that should guide you. Your expenditure must never exceed your income. This sounds so simple. The problem is that unexpected expenditures crop up in life that you have to handle. So you take out a loan to pay it off long term. Then another unforeseen event of expenses comes up and you need something elseand you do it again. I dont need to tell you. Youve already been there.

You will probably be on a strict budget still, and when your credit loosens up, you will be faced with the enormous temptation to relax and ease the pain of doing with budgeting. Dont yield to it! Lock your credit cards away, or even cut them up. Close your store credit accounts and save the fees you are paying monthly to keep them open. By this time you will be in the habit of paying off fixed monthly accounts, such as your house mortgage, school and medical expenses, car payments and utility bills. After this you set aside for your food and living expenses, and stick strictly to that budget. Now, whatever is left over, is what you have to work really carefully and shrewdly with. Your best bet is for you and your family to make a list of everything each member needs and wants and prioritise this list. Set each item down in order of importance. Now sit down together and, with common sense and a lot of sensitivity, meld these lists until you come up with a family priority list that each member feels happy about and is prepared to stick to.

One of the first things on your list should be to start building up a reserve fund. Even if this is really a tiny weekly or monthly amount, dont ever be tempted to use that amount for anything else at all. This should be kept for absolute emergencies, not for that bargain you saw at the store, that you are sure you wont get again! This amount is untouchable. If you are brutally honest with yourself, you will know when a real emergency justifies spending it. As soon as you are in a position to, put aside another similar amount, and also keep it sacred. The difference is that you should take this money, say, once a year and treat yourself and your family with it. Splash out and have fun. If you do this you will find that the stringent measures you take during the rest of the year to keep your budget under control will be easier to bear. Besides, if you can control your finances, you deserve the reward!

This is the VOA Special English Economics Report, from voaspecialenglish.com Dubai’s recent debt problems have brought attention to the growth of Islamic finance. A government-owned group of companies, Dubai World, has been seeking to restructure twenty-six billion dollars of debt. About six billion of it is in Islamic bonds, including a three and a half billion dollar bond set for repayment in December. The biggest difference between Western and Islamic finance involves beliefs about charging interest on borrowed money. In Islam, the basic idea is that you should not make money from money itself. Instead of interest, lenders charge fees. Ghiyath Nakshbendi at American University in Washington is an expert on Islamic financing. He says “The bank will estimate its costs based on its fixed costs, variable costs, the cost of their employees, the rent and so on and so forth. And from that they estimate how much they are going to charge. But he points out that this system can make Islamic financing costly. The costs of the system are shared by the borrowers. The fewer the borrowers, the more each has to pay. In many cases, Islamic financing requires the lender and borrower to share profits and losses. Ghiyath Nakshbendi explains what that means with Islamic bonds, called sukuk. He says the bondholders are buying a share of a business or property. If business is good, then they could get back more than they expected. But if it fails, then there is no guarantee of repayment …

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by SS&SS

4 Ridiculously Easy and Proven Ways to Wipe Out Your Credit Card and Debt Problems

Credit cards and debt problems, the two things that many people will find themselves associated with at some point in their life. The interest rates and the thousands of dollars that you have slowed accumulated over the years is sure to keep you in a depressive state forever.

You shouldn’t worry because there is light at the end of the tunnel. There is always help out there and you just have to seek it.

1. The first thing you can do to fix your current credit card debt situation is to cut costs around the home. Save the money that is being spent and just apply that to your credit card debt payments.

2. Take advantage of the programs out there to can help reduce your monthly gas and electric payments by 15 to 20%. Just give your local company a call to see what programs you can qualify for.

3. Look at the grocery ads and cut coupons.

You can save anywhere from $ 15-$ 20 every visit. And believe me the coupons do really add up.

4. Another thing you could do is to consolidate your debt. Consolidating your debt is one way to save you thousands of dollars in interest over the long-term. People don’t know that the interest rate adds up on each card they owe debt on. And the interest rate could be anywhere from 8% to 30%. It should be a crime for credit card companies to charge you such a high amount on interest on your credit card.

lightworkers.org www.treeofthegoldenlight.com It is just a matter of short time before you get firm evidence of what has already commenced, and will learn of the removal of those who have brought about misery and debt in such massive proportions. It has occurred through criminal actions and no country has avoided the repercussions. The affects roll on but a key decision already made to remove all debt, will sweep the problem away and financial matters will return to a steady and stable condition. It is a massive problem but various funds and the re-distribution of wealth, will change the circumstances around. In many instances money falsely obtained will be returned, so that justice and your rights are observed. It will nicely set everything up, so that you begin to experience a society that is run with due respect to your sovereign rights. It will also result in people being happier, and help raise the vibrations and expectancy as you near Ascension. Meanwhile you should where possible prepare for some inevitable upheaval, and take it in your stride as it will all be short lived. The plans to quickly implement the changes are well in hand, and many countries are involved and supporting our allies. It will bring them more together in co-operation and importantly trust, which has been sadly lacking because of the dark One’s activities over millennia of time. The people normally have no such problems, but their minds have been poisoned by propaganda and contrived situations …
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by MANILA IMPERIAL MOTOR SALES . . . .

How to Negotiate Your Credit Card Debt

Dealing with credit card debt is making many people frown, but in reality this is not such an intractable problem. When planning to negotiate down your credit card debt you must start by researching the legal specifics of your state, know the local laws and taxes and get a minimal understanding of credit reporting. And the most important thing, you must keep cool and manage this problem like any other in your life, least you want to let it become your life.

Debt is not to be treated lightly. A survey showed that American families owe on average $ 20,000 in unsecured debt. Credit cards have high interests and expensive penalties – there is no surprise they spiral out of control, especially in these uncertain times.

Credit consolidation and credit settlement advertisements are all over these days. Companies (or more often, law firms) offer to settle your debt to 40% to 60% less and/or help you repair your credit report.

This is a lucrative business and you should make sure you will be getting any kind of service before paying more money for this kind of counseling.

Some of what they are doing to settle you debt is probably within your power to do it yourself. In general they try to negotiate a settlement with the aid of a lump sum you agree to pay to the credit card issuers in return for erasing the whole amount owned. This can be attractive to credit card companies, who find it an acceptable way to remove the loss from their books for about 60% of the total amount (loan+interest owned).

It is up to you if you decide to call the card issuers personally and negotiate down your debt yourself. Not particularly a phone call for the weak, you must prepare to make the offer (the lump sum) and ask for settlement in the best terms for you.

Debt settlement is recorded in your credit report – so this needs to be followed-up with, making further arrangements so that future lenders are not prevented from working with you by your past settlements.

Many families are on the brink of financial disaster, not just because of debt but because of hard economic times. More people have lost their jobs in the last six months, and the card issuing companies are fully aware of this. You have bills to pay, make sure that you inform credit issuing companies that you’ve lost your job and check and see if you have credit card insurance.

Insurance is part of the original offer for a credit card (on application). It should not be very expensive, but worth a lot in case of unexpected loss of revenue (following an accident, for example, that would prevent you from going to work, or in the event of unemployment itself). If you see that month after month keeping up with your payments becomes more and more difficult, it might be interesting to see if possible to apply for it retroactively as a precaution.

Accumulating credit card debt is a risky game, as many families discovered in these difficult times. Taking too much unsecured credit and releasing equity from property are signs of a growing economy. A readjustment is required during periods of recession like this we are currently experiencing. You must insure your monthly income allows you to pay the bills – otherwise do not waste any time before looking into credit card insurance, debt consolidation or settlement.

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by MANILA IMPERIAL MOTOR SALES . . . .

How To Avoid Credit Card Debt
Credit card debt is a large problem in our country today and some of the problem can be blamed on the economy, but there are a lot of things that individuals do to add to the debt problem. Consumer credit can be a double edged sword. There are a lot of thing you cannot do without a credit card, but credit cards are being for too many things that are unnecessary.

There are a few things you can do to avoid credit card debt. Most of them are common sense tips, but as long as you can implement them, you should be able to live a life free from debt.

1.If you cannot pay for it when the bill comes, don’t buy it. It is not really buying with credit cards that is the problem, it is carrying a balance on your credit cards that will get you into trouble. Many credit cards have interest rates of at least 20% and many are even higher. Carrying a balance of $ 5,000 with an interest rate of 20%, will cost you more than $ 1,000 each year.

2.Live on cash. Living on cash is one of these easiest ways to keep your spending under control. Take out of the bank only what you can afford to spend and leave your credit cards at home. That way when the money is gone, you are done spending and you know how much you spent.

3.Build an emergency fund. People say they have credit cards for emergencies. But if you save the way you should be, you should have money in an emergency fund that is in place to cover your unexpected expenses. Even $ 1,000 is better than nothing and will cover most small emergencies.

4.Live within your means. Many people that have credit card debt like to shop. It makes them feel good and it makes them forget about their problems, only if it is for a few minutes. These moments of instant gratification can lead to years of agony. Putting “wants” on a charge card will leave you wishing you hadn’t.

Debt is something you can learn to control and even eliminate. The hardest part is getting started. Delaying getting started will only make things that much more difficult. Many people think they can overcome debt, but it will take making some major lifestyle changes. If you continue doing what you have always done, you are just digging a deeper hole. Start climbing out of the hole today!

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by Center for American Progress Action Fund

Plastic Money Woes ? Credit Card Problems And Debt

Credit cards may have helped people in carrying and using money in a compact form but theyve also made you susceptible to overspending. Credit cards or plastic money can be a blessing and a curse both! Buy now pay later is a very attractive proposition, but its basically signing your own death warrant. Usage is one thing; abuse is an entirely different matter!

Although the facility of using money and paying it later may seem appealing but in actuality it may cause some considerable problems. The added interest rate on the actual used amount may pile up to an alarming scale which alone may be difficult to pay off (the entire payable amount is even more). The interest amount in many cases may keep on adding up each month instead of staying at a fixed value. This compound effect means that your interest payable will keep increasing each month if you dont pay the minimum amount.

In case one finds themselves in such a situation where the debt amount may have reached an uncomfortable level, they can consider choosing one or more of the following methods to help relieve the debt issue and maintain an acceptable income-expenditure balance.

One of the first practical approaches can be to attempt to reduce your expenditure wherever possible.

Even small savings of a few dollars or so help save thousand dollars over the long run which you can use to pay back compound interest. You can save up in areas such as food expenses, traveling, money spent on hobbies and luxuries like buying new gadgets or going to the movies. Some of your savings can also be used to pay off your debt instead of keeping them in the bank.

A second option to pay off debt in shorter period can be to find a second job. The income generated from the second job can be very helpful in reducing your debt quickly and can also give you more money to cover your other expenses. However, this would require a lot of hard work.

In case of debt owed to more than one company, finance professionals may suggest to first pay off the debt with smallest value. Once thats done, youll have more money to redirect to your larger debts and hence make it easier for you to pay back all of your debt sooner. After clearing the lowest debt payment, the next lowest debt should be considered. In this manner, the due payments can potentially be paid off faster than trying to pay off the debt with highest amount first.

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