Welcome to Debt Guide
Debt Proof Living Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Debt Management: The Way to Get Out of Debtfrom:
Managing one’s debt is very hard to do on your own. The mere fact that you are in debt clearly shows that you do not have control over your finances and your spending habits. That is why there are several debt management programs offered by different lenders to answer the needs of the debtors. These programs have the goal of gradually eliminating the borrower’s many debts.
And while these programs vary in the type of agreement, its terms, and added services, it is mainly created for the improvement of the borrower’s financial status. There are two main types of debt management programs and these are categorically called secured and unsecured.
Other common types of debt management programs have services that include debt counseling, debt consolidation and debt settlement. Debt counseling is a type of debt management program that is conducted by professionals who give out advice on how to manage one’s debt. The counseling sessions involve teaching the borrower how to avoid debts and to slowly eliminate existing debts. There are some companies that may charge you for their counseling, but you can find many non-profit agencies that provide counseling without any cost at all.
Debt consolidation is very popular among the debt management programs. Debt consolidation companies often do the work of contacting one’s creditors and asking for a reduction of interest rates. Then, all your existing debts will be rolled into one debt that can be paid off in affordable monthly payments. This is very helpful because instead of paying many high payments, the borrower is given the chance to pay off the debts in easy installments. Anyone can avail of debt consolidation because credit rating is not taken into consideration when applying for it.
Debt settlement programs or debt elimination programs allow the borrower to payoff his/her debt in a period of one or two years. Companies that offer debt settlement are the ones who will negotiate with all the borrower’s unsecured debt creditors for a lower debt amount. Interest rates are also much lower.
No one wants to be in heavy debt and for this reason, debt management services are perfect to avoid being in a quicksand of debts. Indeed, debts are like quicksand where it will be very hard to get out of if one is too deep in them. That is why before everything gets worse, getting a grasp of things and visualizing a goal to get out of one’s debts will help in achieving a more secured financial future. Credit rating can even be improved and this allows a clearer mind and a fatter pocket in the days to come.
Debt Proof Living News
Get your kids on the road to financial independence - The Star Democrat
Get your kids on the road to financial independence
The Star Democrat
This column will answer questions of general interest, but letters cannot be answered individually. Mary Hunt is the founder of www.DebtProofLiving.com, a personal finance member website and the author of "Debt-Proof Living," released in 2014. To find ...
Joliet mayor Giarrante touts growth in State of the City - Suburban Life Publications
Joliet mayor Giarrante touts growth in State of the City
Suburban Life Publications
“Today, we are living within our means and not making promises we cannot keep.” Giarrante referred to ... Giarrante highlighted city revenue growth and low debt. ... “Developers know that Joliet is revitalized, and the proof is in the numbers,” he said ...
Prepare For 'The End Of College': Here's What Free Higher Ed Looks Like - WABE 90.1 FM
WABE 90.1 FM
Prepare For 'The End Of College': Here's What Free Higher Ed Looks Like
WABE 90.1 FM
After that, there's the stressful process of applying to colleges, and then, for those lucky enough to get admitted into a good college, there's college debt. But author Kevin Carey argues that those ... The amazing thing ... is that it was essentially ...
She was one of Las Vegas' top prostitutes…until the cocaine, abortions, and ... - Lifesite
She was one of Las Vegas' top prostitutes…until the cocaine, abortions, and ...
This would mean you have no one controlling you or earning money off what you are making…no fees, debt bondage or pimps involved. But this is a ..... Because to me, he's living proof of a loving God, and God is putting himself on display through this ...
US Sen Mikulski Announces 2017 Retirement; “Do I Spend My Time Raising ... - The Dagger
US Sen Mikulski Announces 2017 Retirement; “Do I Spend My Time Raising ...
And I'll be protecting the social safety net for seniors, because 'Honor thy father and mother,' isn't just a great commandment to live by, it's good public policy. That means making sure Social Security remains a guaranteed, lifetime and inflation ...