Americans are still finding ways to deal with the recent economic crisis. To get out debt, some people seek credit counseling while others turn to debt consolidation and debt settlement. Is there a difference between consolidating and settling debts? Let's discuss the basic facts about debt consolidation and debt settlement.Two Different Debt Relief ProgramsDebt Consolidation. A debt consolidation is a loan that is used to pay off all...more
If you are really looking for ways to get out of debt and substantiate your finances, you are indeed in the right track. It is inevitable that the trauma and mental pressure one undergoes while under debt, associated and powered by the banks and credit cards tends to multiply with each passing day. The continuous calls, nagging mails and irritating visits can really make life hell for anyone who is already struggling with life and stability.The...more
You might have a grim idea about the revolution brought about the credit cards and the immense change in the financial system around the world due to it. But, few people realize that a huge percentage of the population is getting addicted to these plastic cards and taking debt for normal shopping even if he has cash. This practice has been injected into the people with attractive offers and marketing strategies. Here are some hidden facts regarding credit card debt reduction that the credit card companies do not want to convey to their customers:a) Even if you are a regular customer with good reputation, even a single late payment is not relieved. Your credit ratings are harshly treated and the interest rates start fluctuating immediately.b) You might not realize but the figures of the people who delay their payment just by giving the minimum fee is really huge. For you as an individual, it is very easy to just pay the minimum payment and flee the charges. But statistics have shown that the revenue collected by the banks from customers in the form of minimum payment is more than thrice of the principal amount.c) There are hidden norms according to which your credit interest rates...more
As the financial system of the entire world is on a destructive mode, it is not surprising if you are not able to meet the repayment bills. The situation becomes more intense when you have to look into your regular commitments, as well as take care of the debt amounts. If you have confidence on your business and you think things might work out,...more
As we all have witnessed the recession monster eating up our entire financial system we are completely shaken till the roots. Fear has gripped many people who think credit card as the sole reason for their present condition. The real problem appears when your regular expenses gets associated with the monthly bills that you have to repay and your...more
It is the nature of Human being to get excited and lose control of mind once he gets unlimited power. The similar theory works for credit cards as we tend to get spendthrift as we get limitless purchasing capability. The brakes appear when we get a glance on the bills generated and the heavens start shaking. This is a general concept as we see a sharp increase in the number of people filing for bankruptcy and failing to repay their debts on time. An extended thanks to the global meltdown that has fractured the backbone of economy and has compelled people to stop spending and start conserving.Still, we can afford to bear a smile on our face since there provisions to get over these serious problems. The concept called debt settlement provides for a second chance for us to prove our creditability and bring our financial structure back to shape. Here we are given an opportunity to negotiate with our creditors and agree upon a figure that we will be able to repay in certain time frame.Remember that it is a temporary relief brought to us letting us reduce our balance outstanding and help with credit debt. It really does not matter how our current credit ratings are, since this process...more
A huge debt can be painful if not handled in the right fashion; especially if one's financial system is shaky and things do not look good enough for you. In addition to that if you miss a single installment or monthly bill, you have harsh...more
As the world has entered into a new century, the levels of uncertainty have multiplied accordingly. Now, it is very tough to predict these days the trend of the market and the name of a safe business. We can only hope for a safe tomorrow unless there...more
The idea of credit card started with plastic cards and now it has become an enormous strength giving people the power of limitless spending. This unlimited scope to expenditure has let many people get out of hands and do reckless shopping without...more
Options trading can seem like a intimidating thing to get in but if you do your search and understand at least the principles of what should be done, then you will see that it is not quite as intimidating as everyone thinks it is. Before you plan to...more
Foreign exchange currency trading or forex is advertised as one of the top ways to generate money on the internet, but how much money can you essentially create? Of course the answer is this it depends on many factors. These include your initial...more
With the commercial property sector sliding down to a crisis that could even be worse than the one felt by the residential real estate segment, it is easy to understand why the financial regulators have encouraged banks to step up their efforts to...more