How to Stay Financially Smart after Receiving Debt Help

Posted by on Sep 26, 2013 in Financial Advice | 0 comments

A debt consolidator can be instrumental in helping eliminate debts, but your financial difficulties may not end there. If you don’t understand how you came to acquire too much debt, you may find that you are living under similar circumstances in a couple of years. However, people in this situation can benefit from consumer credit counseling.

Are You Carrying Too Much Debt?

When you enroll in credit counseling, you will receive an education on how your credit scores are calculated. How much credit is in use at a given time constitutes 10 percent of your credit score. If you have five credit cards and you have used 100 percent of the credit available to you, this lowers your credit scores because it shows that you are carrying too much debt.

A credit counselor will help you understand that the best scenario for you is to only have 10 to 30 percent of your credit in use at one time. Some people use more than 30 percent of their credit because they intend to pay the entire bill in full at the end of the month. Your counselor will help you understand that this can lower your scores even though you will pay the bill in full without leaving a balance.  If you are carrying too much debt, a debt management program with a company like Creditguard can help to set a payment schedule and move forward.

Are You Charged Up to Your Credit Limit?

You may have needed help with debt because you had several debts to contend with at once. How much outstanding debt you are carrying constitutes 30 percent of your credit scores, so you will need to make sure that you don’t take on too much debt in the future. Your counselor can help you set up a budget so that you are not in danger of spending more than you earn.

Have You Paid Your Bills On Time?

Your payment history makes up 35 percent of your credit scores, and it is the most important determinant of a high or low score. If you have paid your bills late or you have defaulted on a loan, your credit scores will reflect this reality by being very low.

To be informed about all aspects of credit, enter into consumer credit counseling today.

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Increase Your Credit Scores with Consumer Credit Counseling

Posted by on Aug 27, 2013 in Financial Advice | 0 comments

get rid of debt with consumer credit counselingIf you have been in credit card debt in the past and are concerned about becoming a victim of your finances again, the answer is consumer credit counseling. Every consumer has a credit report, and what is written in these reports can mean the difference between being approved for the mortgage you need to buy a house and being turned down. It also affects many other areas throughout your life.

Who Seeks to Read Your Credit Reports?

Many different people take advantage of major credit reports that are on file for you. Some employers even ask to do a credit check before they will hire you. Employers are seeking people who will act responsibly in their jobs, and statistically, those who have high credit scores are living more responsible lives. If you are found to have a low credit score, your resume may be placed at the bottom of the pile.

Insurance agents will ask to learn your credit scores for the same reason that employers ask for them. The amount that you will pay for your insurance premiums will depend partially on your credit scores. Those who have high scores and have shown to be financially responsible are charged the lowest premiums.

As was mentioned above, your credit scores will be very important to lenders who are considering offering you a loan to purchase a house. Every lender will not necessarily turn you down if you have a low credit score, but they will charge you a high interest rate, and this will make the overall loan more expensive for you.

How to Make Your Scores Rise

If you have had difficulties with your finances in the past, this doesn’t mean that this history has to be the only information that future creditors learn about you. After you begin to engage in consumer credit counseling like the one at this website, you will understand what you need to do to increase your credit scores. For example, your counselor may suggest that you apply for a small amount of credit so you can show that you can re-pay it on time.

With time and patience, your financial situation will improve. Stop worrying about your finances and seek consumer credit counseling today.

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Non Profit Credit Counseling Offers Debt Consolidation Programs

Posted by on Jul 29, 2013 in Financial Advice | 0 comments

If you’re in debt, the first thing you should do is find a way to get your debt under control. Many people find that they just need a little help when it comes to managing their debts. Bills pile up, unexpected vehicle issues, medical payments or other concerns may make your debts difficult to pay off. If you are in this situation, consider finding a nonprofit credit counseling service.

What is Credit Counseling?

There are two parts to any credit counseling service:

  1. Debt consolidation
  2. Money management education

Non-profit services provide a way for you to reduce your monthly debt payments, roll them all up into one easy to manage payment, and get your finances back on track. There are many benefits to credit counseling with a company like CreditGuard of America. Not only do you reduce your financial burden, but you also help to improve your credit score by making your single regular payment. They also give you useful advice, counseling and money management techniques you can use for many years to come.

Finally, the peace of mind that comes from consolidating your debts cannot be overstated. When you don’t have to be inconvenienced by collection calls or fears that you won’t be able to pay your bills, you will feel as though you can move forward with your life, hopes and dreams.

What is Debt Consolidation?

Debt consolidation involves bundling all of your unsecured debts such as credit cards, store cards, personal loans and business loans into a single monthly payment through the nonprofit credit counseling company. It is not a new loan, and the company does not “buy” your debts. It simply manages all of your debts for you so you don’t have to worry. This will improve your credit score by showing that you service your debt regularly, which puts you closer to being able to make larger purchases such as a vehicle or a home if and when you are ready.

Another important aspect of debt consolidation companies Credit Guard is negotiation. The debt consolidator will negotiate with your creditors to reduce your interest rates and minimum payments to a number that you can afford. They understand that every client is different and will look at your budget, income and expenses to help you figure out what you can afford.

What is Money Management Education?

The second part of credit counseling is the educational aspect. By getting educated, you can learn how to manage your money and stay solvent going forward. Keeping a budget, avoiding bad loans and becoming consumer-savvy will all help to keep you from accruing too much debt in the future.

Money management education is often included when you sign up for a debt consolidation or credit counseling program. Make good use of this free initial consultation, call and/or information session, as it is timeless information that will do you good at every stage in your life.

Conclusion

Debt consolidation at a nonprofit credit counseling service can be the first step to the rest of your life free from debt. Put your old debts behind you and service them all with a simple, manageable monthly payment.

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Get Rid of Debt Once and For All

Posted by on Jul 17, 2013 in Financial Advice | 0 comments

get rid of debt with credit card consolidation

People in the process of seeking a solution to their debt problems have the option of taking out a debt consolidation loan. They like this option because it pays all of their balances down to zero in one day. The notable feature is that they still have the same amount of debt. It will have a lower interest rate, but it may require that they make payments for years before they eliminate this debt.

Another consideration is the fact that obtaining a debt consolidation loan doesn’t address the immediate problem. The problem is that some consumers are in debt because they never learned how to manage their money. If this describes you, it isn’t necessarily your fault that you couldn’t manage your money well. You never learned how to do this in school like many Americans. Also like many of your countrymen and women, you didn’t learn these important lessons at home either.

The Dangers of Obtaining a Debt Consolidation Loan

It’s dangerous to obtain a debt consolidation loan when you don’t have anywhere to turn to learn how to budget. After you pay all of your bills in full and are left with only one loan with a lower payment, you will have more disposable income. Because you haven’t learned what you need to do to maintain your financial health, you could easily become indebted again as has happened to several people in this situation.

One way that many people obtain a debt consolidation loan is by borrowing against the equity in their homes. This option allows them to have a lower interest rate and lower payments, but because they didn’t learn how to remain debt-free, these borrowers placed their houses in jeopardy. Not everyone owns a home, but they can obtain a debt consolidation loan without collateral. This option means a high interest rate and high monthly payments, and it can also mean that it is a debt that is impossible to re-pay.

The Superior Option of Credit Card Consolidation

Credit Guard credit card consolidation doesn’t involve loans and doesn’t place your financial future at risk. It can’t cause you to lose your home because you are not going to offer it as collateral for a loan. Credit card consolidation reduces all of your credit card debts to one without taking out another loan.

Those who make the decision to reduce their debts with credit card consolidation will work with a debt consolidator who will take over the negotiations with your creditors for you. The consolidator will ask your creditors to lower the interest rates on your debts and will ask them to waive the late fees and penalties that they added when you had trouble making your payments. With this done, you will owe less money every month, and you will only need to send one check to your consolidator who disburses the money to your creditors.

Debt consolidation loans are an option, but they aren’t the best option. The best thing you could do just may be to hire a debt consolidator to consolidate your credit card debts today.

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Can’t we all just get along?

Posted by on Jul 15, 2013 in Financial Advice | 0 comments

Money is one of the hardest things to manage in life. Not just because we use it constantly and it can be hard to tell whether it’s coming or going, but because the old adage, “Time is money,” rings true for us in many ways. Money is, in fact, one of the biggest sources of conflict among partners & families. (I bet you’ve had a fight at one point or another about money with your SO!)

So how do you manage it more smartly, keeping track of where it’s going, keeping more of it in your pocket, and keeping it out of your romantic life?

Mainly by spending more time with it:

  • Firstly, track your expenses. Each time you buy something, make a note of the date, the cost, and the item.
  • Ask yourself whether it’s a NEED or a WANT. And if you see something you want, give yourself a bit of time before you actually buy it to determine whether it’s a REALLY WANT or just a regular WANT.
  • Look for coupons and discounts. Many sites online have all kinds of promotion codes, weekly discounts, and other money-saving grabs. If you love a company, join its mailing list – then you’ll get coupons emailed right to your inbox.
  • Plan your meals based on what’s on sale at your local grocery store. By attuning what you’ll eat with what’s available this week, not only will your food spend less time in the fridge, but your meals will be more affordable.

Stay tuned for more tips and tricks, and drop us a line with your own ideas in the comments or Contact Us page!

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