10
Jun/11
0

Debt Consolidation Vs Debt Settlement For Eliminating Credit Card Debt Faster

Do you lie awake in bed at night afraid that you’ll be in debt for the rest of your life? Are you able to sleep at all knowing how much debt you have? Does the thought of checking the mail or answering the phone make you anxious and worry that you’ll get another pass due bill or debt collection call? It’s time you did something about it. You have choices when it comes to eliminating your credit card debt. Today, you’ll learn if debt consolidation or debt settlement is better for you.

With debt consolidation, you or a company will take all your monthly credit card bills, medical bills, and unsecured personal loans, and student loans and consolidate them all into one lump sum payment that adds up to less than all of them individually. The payments are spread out over a period of time, usually 3 to 4 years, and your interest rate is reduced, in late fees and other fees are waived, and debt collection calls are halted.

You get some much needed relief and you can see the light at the end of the tunnel and realize that you will be debt free in approximately 3 to 4 years on average. You’ll pay a small monthly fee of approximately $25-$50 depending on your state to the consolidation company to manage your bills and distribute your payment to your creditors.

With debt settlement, you or a settlement company will start saving your regular monthly credit card payments into a settlement fund and wait till an appropriate time to make a settlement offer to your creditors offering a lump sum payment to discharge the entire outstanding balance. If you do it yourself, you can clear out all your debt in approximately 12 to 18 months. If you use a 3rd party company, the process could take 24 to 48 months which is similar to consolidation.

There is no fee if you settle your own debts. You can expect to pay approximately 15% of your debt to the debt settlement company to negotiate settlements on your behalf. You can achieve higher savings by doing it yourself.

Debt settlement is an alternative to bankruptcy. The effects on your credit score are similar. You can recover quicker from debt settlement though. Settling your debts can be quicker than debt consolidation if you do it on your own. Consolidation can cost less if you hire the company to handle your debts. The best way to find out which option you should go with is to compare the numbers and get multiple quotes from different companies. This way you will be sure to find the fastest way to eliminate your credit card debt.

23
Aug/10
0

Government Debt Relief Grants Can Bail Out Citizens So They Are Able to Pay Off Personal Debts



It seems as if nearly all Americans tend to carry some sort of debt. There was a time when this sort of debt lifestyle was not such a big problem. When the American economy was moving forward, and trade was moving out of the huge hands only of domestic goods, into the world marketplace, citizens of the country were basically assured a good life, as long as they were agreeable to the prospect of going into debt. Again, not a problem for most people, who had a job that allowed for them to know they would be able to pay back the debt, eventually. In other words, people in the United States banked on their future being bright, because they were able to make it that way, if they so chose to.

However, once the recession dug into people’s paychecks and wallets, these same people could no longer rely on just their jobs to provide the needed income to pay back these debts. In fact, since even employers of huge corporations in America are also private citizens, the effect of the recession caused them to have to rethink their workforce in many cases. People began losing their jobs, either as a result of what is now termed “down-sizing,” where a company evaluates and determines a job “redundant,” or those who had been for years with the same employer were basically forced to retire early.

The consequences of the huge number of people then dumped into the unemployment pool made it virtually impossible for credit, loan, and even utility providers to have returned to them the money that was owed in all this once easily-created debt. Late fees were applied, and this did nothing good for the money system in the US, as the bottom line became that people everywhere were finding they just didn’t have the money to pay what people they owed. So these debtors, who now number in the millions, found other lenders, less scrupulous, that would promise the money, the house, the car, and the loans that were meant then to pay off the original debts, and thus started the vicious cycle of debt in America.

Now, finally, the government has stepped in to assist in this economic crisis. People need to have a way to pay off the money they owe, and now they will have that avenue of relief. The government has come up with a solution in the form of government grants, and these grants are available to any American citizen over the age of 18.

Since this debt issue involves so many people in so many walks of life, and the government is intent on providing the best possible solution for the needs of those in need of this relief, different grants are meant for different purposes. Some will help people who are under the thumb with huge medical bills, while others are designed to aid people who can no longer make payments on their mortgages, and still others will assist people with their everyday necessities, like utilities and the like. In fact, there are new government grants that apply to most all the debt needs of the country at this time.

However, you need to determine for what grants you could qualify. You can do this by visiting the government’s website and filling out the online applications found on the pages there. Be honest with your answers, and give the best description of your current debt situation, so as to be sure you won’t negate your chances for one grant, or cause unnecessary time lost in receiving the grant due to false or incomplete information. Remember, it’s the government you’ll be dealing with, and as such, you need to be sure to dot all your L’s and cross all your T’s with them. But check out your options to get help with your bills. After all, it doesn’t hurt to apply, so why wait? Apply today!

10
Aug/10
0

Fuel Credit Cards

There are different types of “Gas Credit Cards” that the consumer should be made aware of before selecting the card they think is best suited for their needs. The typical “Gas Credit Card” is one issued by the local service station that the consumer gains points as they buy fuel and when they have bought “X” amount of fuel they receive free fuel in return. Many consumers like this advantage and readily sign up to get this card. The consumer should be made aware that their interest rate might be high for the service and the free gas is not so free.

The other types of “Gas Credit Cards” are issued by local lending companies who use one of the major logos like MasterCard, Visa or Discovery and these cards can be used to buy more than just gasoline. The credit card is good at about any place of business and normally has a spending limit based on the customer’s credit score. This credit card builds points up towards getting even more free fuel when the consumer uses it to purchase other items from retail stores, pharmacy’s, restaurants etc.

The consumer needs to make sure that when they get this type of “Gas Credit Card” that they are getting a low APR rate along with a low membership fee. Also it is very beneficial if the consumer is not going to be charged late fees or at least has from thirty to ninety days grace period before any late fee charges are made. A “Gas Credit card” is a great advantage to any consumer if used in the right way with the right type of agreement.