An Easy Recipe for Debt Relief

The Debt Free Living Recipes

By: Cheryl Johnson -

Living debt free is a feeling that's hard to explain. It's a feeling that's alien to most consumers today. But once you've had a taste of living without debt, and without the stress that often comes with it, you'll be cookin' it up all the time.

This is a recipe you'll surely want to pass down from generation to generation. Your children and grandchildren will love the flavor of debt freedom. Serve it to them from birth to marriage and you'll be giving them a taste of success. Give yourself and your heirs a slice of financial security and independence to savor! What's in the recipe for debt free living?

Ingredients:

2 cups self evaluation
1 cup self discipline
3 or more cups self control
1 cup self monitoring
ingenuity by the handfuls
determination as needed

Directions:

1. Use a 1 cup self evaluation to track spending habits and the other cup to determine what type of budget suits your personality and level of budgeting tolerance. Use a good honest grade of self evaluation. Take a good look at your past budgeting habits (failures and successes). Choose an easy budgeting method that suits you. You don't want your debt free recipe to fall.

2. Add self discipline to stick to your debt free living goals and your personal budget plan. Depending on what grade of self evaluation you've used, this should mix in with minimal effort.

3. You'll surely need all 3 cups of self control to stop overspending, wasting money, making impulsive spending decisions, and creating more debt. Don't be stingy here, use as much as you need. The more self control you use the tastier the result!

4. Throw in a cup of self monitoring to track and maintain your budget plan and, monitor spending and goals. Mix well. You want your mix of budgeting, spending management, and goals (debt elimination, savings, investment, and wealth building) to be a complete and smooth mix.

5. Ingenuity is the secret ingredient that will help your recipe rise to success. Use your resources to the fullest to trim your budget expenses and save money everyday. Recycle, reuse, reconsider, resell, and use a variety of money saving strategies. Never pay more than you have to for any ingredient in life.

6. Add determination as needed to keep your recipe for debt free living cooking. Cook until done. Debt balance when viewed says zero!

You've reached your goal to eliminate debt. Enjoy the taste of true freedom and rejoice with a huge slice of stress relief.

Cheryl Johnson is a mother of four on a mission to become debt free. As publisher of Simple Debt Free Living at www.SimpleDebtFreeLiving.com she hopes to guide and encourage others to become debt free using budget planning, debt management, and money savings tips and strategies.

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A Good Credit Counselor Can Help You Get Debt Relief

4 Signs Of A Good Credit Counselor

By: L. Sampson -

People take their money very seriously. Once they realize that they are in a debt problem, they will do just about anything to get out of debt. If they realize they can’t do it on their own, people often want to seek the advice of a credit counselor, but it is hard to know what to look for in a good credit counselor. Here are 4 signs of a good credit counselor that should help you in your decision

Free or Cheap

Good credit counselors are not going to charge you huge fees for their services. Most of the better credit counselors are from non profit organizations and they are normally free. If you find that you are being charged monthly for their services or that there are hidden fees in the check you write to pay off your debt each month, find a new credit counselor.

More than just a check

Many credit counseling and debt consolidation companies just take your money and pay your debts, end of question. A good credit counselor does just that; they counsel. They help you devise a plan that tells you how and where to spend your money; they essentially put you on a budget. If you need more counseling, a good credit counselor will give it to you.

Advise you to close your cards

This is a big one. Many credit companies help people pay off their debts, but don’t advise them to close their credit cards or other forms of credit. This is important; if you want to stay out of debt; those cards need to be a closed. A good credit counselor will make sure you close them and set you up on a budget, so you don’t need new credit cards.

Timelines

A good credit counselor will give you a timeline to pay off your debts. Every month you should receive a statement saying how much you paid, where it went and how much more you owe. If you are not getting this and you are just paying blind amounts of money, demand a statement. A good credit counselor will give keep you up to date on your progress.

Visit Debt Sanity to view our Recommended Debt Consolidators online. Also, visit Debt Sanity for more information on how to find the best Debt Counseling Service.

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Debt Negotiation for a Better Tomorrow

Debt Negotiation for a Better Tomorrow By: Amy Cook

Debt negotiation or settlement is negotiating a reduced payoff of your debt with the creditor. Working on your debt problems, a debt negotiator can make you pay 50% or less of the principal on your debt.

Modern day living and plastic money makes it easy to fall prey to debt. There have been rising number of bankruptcy in developed countries compared to the Third World. Blame it on the lifestyle! Everybody wants relief from debt problems, but few address their problem to a debt negotiator until they go bankrupt. Bankruptcy gives immediate relief from the debt problem. But its ill effects last for years in procuring new loan.

So, debt negotiation is the best way out. You can step into debt negotiation plans on your own resource (if you are in such a position) or can take financial help from debt consolidation loan. There is no easy answer to bad debt. You must take advice from a debt counselor. For future benefits you should ask service of a reliable negotiator in order to resolve unpaid and unsecured debt. Because successful debt negotiation enables a business to continue trading.

Contemplating Debt Negotiation Service

On a debt management program, it's important for people to know that there might be dire results of contemplating the agreed settlement plan. So, one must consider the negotiation fees and penalty for leaving the negotiation program. Though after entering a debt negotiation program you transfer some amount of legal action to the third party. Still your creditor can take legal action against you.

How to Negotiate the Payoff Terms?

Taking the help of a debt negotiator is not the last word. If you have it in you can directly contact your creditor, address your problem and ask for reducing the payment. But professional debt negotiators will make you job much easier. And may come up with much reduction on principal.

You can make lump sum payoff and this will save much of your interests and principal payments. But give second not to decrease your credit rating. Make debt settlement an economical affair.

Professional debt negotiator program offers you plans, similar to debt consolidation services and negotiates with your creditors if you have saved the minimum balance to settle the debt. You can reduce your debt with savings up to 60%.

Your debt negotiator will suggest you to discharge higher interest rates first to eliminate the delinquency. They can easily understand the bottom line of your debt problem. They can also tell you “which creditors settle at 30% of what you owe, and which one will demand 70%”.

Using debt negotiation can trim your payoff time down from 7 to 5 years or less, through consolidation and/or counseling. You can get new lease of life once all your debt is eliminated.
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Top 3 Debt Management Tips

Top 3 Debt Management Tips

By: Stuart Langridge

1. Be honest about it.

If you need to ask a lender for help, tell them why and be honest. If it gets worse in the future, and you lied at the outset, you'll get no help later on. In all areas of money, and life for that matter, having a reputation for honesty will always win through.

If you are being honest, don't just include the bank manager. Be honest with your spouse or partner and family. If you need help, financial or emotional, explain why honestly and I'm sure you'll get some of the support that you need. And if they can only give you some help, thank them, honestly, be greatful and accept it.

Could there be any more important life or debt management tips than that?

You may be 'protecting' him or her by not revealing the truth, but when they see you as an unreliable liar when the truth comes out (as it usually will) and divorce you, taking the kids, was it worth the lie?

2. Find competent advice and take it.

In my old life as a mortgage adviser, there was nothing worse than helping someone and really doing my best for them only to hear, 'we just have one more adviser left to see, can we call you?'. For me, that always burnt bridges.

If you want and need expert help, which you might well, or just sensible debt management tips, and be unable to pay for it (also likely if the debts are too high), treat your unpaid expert assistant well. As soon as you have annoyed them, their interest in you loses any personal care and responsibility they had for you and turns you into a business deal.

We all build relationships to be liked, be mutually beneficial and trusted. We make business deals for money. Do you think that the interests of a client are important to many advisers once the client has insulted them? The client will get far more value if they become friends and clients of financial people rather than just clients.

3. Pay everything you can on time, every time.

This relates to the other two debt management tips above. Finance is about numbers and money. But the money is controlled by real people with feelings, thoughts and emotions. We all know how tough it must be to have excessive debt. Even if we don't have first hand experience, we can relate to it.

If you have debt problems, you will need the assistance of many people. If they like you, trust and respect you, yours will be the 'exceptional circumstance' where they try to help someone out of their hole. Yours will be the procedure that gets waived, or chaser that isn't chased so quickly. They will leave many, many others to their fate. In sorting out debt matters, having the 'people' on your side will be a major advantage.
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Eliminate Debt In a Few Easy Steps

Eliminate Debt In a Few Easy Steps by Diana Lopez

Tips on how to Eliminate Debt.

Finding yourself in debt is no fun. You suddenly realize you're working to meet the minimum payments your credit cards and your paycheck isn't stretching as far as it used to. There are some four major steps you can take to eliminate debt from your debt situation.

Make a Realistic Budget When you're serious about eliminating debt, the first thing you want to do is figure out how much many is coming in and how much is going out. It's easy to look at your net income and figure your utilities and credit card payments. But you should have about two hundred dollars left over out of every check where is that money going? Write down all your expenses for a week and see how quickly that money is spent on frivolous items you really can live without.

Eliminate Unnecessary Spending Start taking your lunch to work. Make a double batch of pancakes on the weekend and freeze some for the kid's breakfast. Make it a point to not grab a quick meal at a fast food restaurant. Not only will you be healthier, you're bank account will seem healthier as well. This is one of the easiest ways to make your start towards debt relief.

Do Your Holiday Shopping All Year Start a little collection. When you see an item on sale that you feel would be a good holiday gift for someone, purchase it and put it away until December. If you do this all throughout the year, you won't be spending your entire Christmas Bonus on holiday presents and your shopping will be all but done.

Put Up Your Credit Cards This is another step. Now that you're serious about eliminating debt, put up your credit cards and don't use them unless it is a dire emergency. Since you are paying off your debt, you don't want to incur more debt. Don't be surprised if your credit card company raises your credit limit, that's common when someone is paying off a card and not spending. This is supposed to entice you into spending more money on that card. Don't fall for it.

To Eliminate Debt is not rocket science, but it does require planning and determination. If you're ready to get rid of your debt, apply these debt elimination tips to your daily life and watch your debt shrink! Additional tips can be found at http://www.debtfree.net
About the Author

Diana Lopez is a full time consultant who has helped hundreds of clients eliminate their debt. If you would like to learn more tips on how you can eliminate your debt then visit http://www.debtfree.net
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Credit Card Debt - Elimination Or Consolidation?

Credit Card Debt - Elimination Or Consolidation? by Susan Megge

You're at the end of your rope and you simply can't do it anymore. You're drowning in debt and sick and tired of trying to gather enough money each month just to make the minimum payments due on your credit cards. You can be certain that you're not alone. There are many people who are facing a financial crisis much like the one with which you're dealing. It's overwhelming and scary, especially if your accounts are delinquent and you're receiving threatening and harassing calls and letters from debt collectors. Take comfort in knowing that you will overcome this financial burden because, fortunately, there are options available to you.

Credit Counseling - When you sign up for a credit counseling service, credit counselors contact your various creditors to work out a repayment plan, usually negotiating reduced interest rates and payments. You're then required to make one monthly payment to the consumer credit counseling service and they in turn distribute the funds each month to your various creditors. If you're considering this option, it's important to do your homework. Many credit counseling agencies are funded by your creditors, therefore, you're left to wonder whether or not the credit counseling service is legitimately interested in what's best for you, the consumer. Also, just because credit counseling services claim to be "nonprofit" organizations, it doesn't mean their services are free or affordable. In fact, many of these firms aren't even legitimate. Again, do your homework to be sure this is the best route for you, as entering into a credit counseling agreement can take five years or more to pay off your debt.

Debt Consolidation - If you have sufficient equity in your home, you may be eligible to obtain a second mortgage or home equity line of credit. This could possibly enable you to lower the cost of your credit with an interest rate reduction. While the thought of paying off your credit cards with a reduced interest loan is tempting, be very cautious prior to using your home as collateral. If, at any point during the term of the loan, you are unable to make your payments, you could lose your home. Also, it's crucial to shop around, as the cost of a home equity loan can add up quickly if you're required to pay points. When you look closely at the bottom line, you want to see that you're ahead - not still drowning in debt.

Bankruptcy - Generally, bankruptcy is considered as a "last resort" for most people due to the fact that bankruptcy is a matter of public record and its ramifications are long-lasting. As you're probably aware, there are two forms of bankruptcy - Chapter 7 and Chapter 13. Chapter 7 is known as "straight bankruptcy" because your debts are discharged and no repayment plan is required. As a result of the new bankruptcy law that went into effect back in October 2005, however, many people find that they're no longer eligible for Chapter 7 bankruptcy and instead must file Chapter 13 bankruptcy. Chapter 13 bankruptcy requires a court-approved repayment plan, usually over a period of five years or so. After all payments have been made, you receive a discharge of debts. Another major hurdle as a result of the new bankruptcy law is the requirement to get credit counseling from a government-approved organization within six months before you file for any type of bankruptcy relief. If bankruptcy is your only option, be sure to ask questions and hire an attorney with whom you're comfortable.

Debt Settlement (Debt Negotiation) - Debt settlement is a process whereby most creditors will agree to accept less than the full balance to settle outstanding debt. Debt settlement has proven to be an excellent solution for many individuals and businesses who may have otherwise found it necessary to file bankruptcy. As with all of your options to become debt-free, be very careful when choosing the debt settlement firm with you'll be working. For instance if you're thinking about hiring a firm who will require you to set up a trust account or pay a monthly fee, you may want to think twice about that particular firm. Work with a company with whom you feel you can trust to represent you with only your best interest in mind.

In the end, what's most important is that you resolve your debts by choosing the option which will best meet your needs. Take a serious look at your financial situation so that you can better decide which path is best for you. Once you've made the decision to put your debt behind you, you'll feel a great deal of relief. It's not necessary to go another month with fears and concerns over your financial predicament.

About the Author
Susan Megge is a consultant in the credit services industry. Over the past several years she has assisted many individuals in resolving their debt-related matters. For more information regarding credit and debt visit http://www.donaldsonwilliams.com
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10 Steps to Repairing your Credit

10 Steps to Repairing your Credit by Jenny Gill

When people fail to pay their bills on time, many of the creditors assume that the debtor does not have the means to pay the debt. Unfortunately creditors and debtors today all base their theories on assumptions and assumptions from the beginning of time have caused nothing but failure.

1. Many creditors with the assumption that you are not capable of paying your bills will often set up an arrangement or else lower the amount so that you can repay the debt. This is a step to credit repair, however it takes you to contact the creditors to let them know your situation.

2. If you have several bills on hand and all the bills are pressing it makes sense to payoff the debt that benefits you the most. After this bill is paid you can set aside an amount the following paycheck to payoff another of the bills.

3. Once you follow this strategy it allows you to work your bills down gradually thus repairing your credit. If you don't have the funds to repay the entire bill at most pay the minimum amount so that you can continue using the service.

4. Most debtors assume they are in debt and there is nothing they can do to resolve the problems that plague their lives everyday. Creditors are always on their back, and their paychecks are never enough to make ends meet. This is the process of giving up on life. When we give up it often leads to stress. The answer is often in front of them or comes somewhere down the line.

5. Sometimes we see Credit Counseling or Debt Consolidation advertisings and think, 'how can they help me." The fact is Debt Consolidation is only a lead to get creditors off your back for a moment. Credit Counselors are more prone to help you find a solution to repairing your credit. Credit Counselors is the solution when you don't see a way out on your own.

6. The professionals work closely with your creditors, you, and work toward a resolve. This is certainly a way to get creditors off your back, work out an agreement with your debts, and reduce the stress level that comes along with financial burdens. Some of the Credit Counseling Services offer a low fee for their services and provide you with a financial managing solution. The services often offer help with managing your money, as well as offering counseling to homeowners, students, and so on. There are many solutions for debt relief so the key then is not assuming the worst. Again the main solution is paying off the debts that are considered priorities.

7. If you have secured loans it is always wise to find a way to pay these bills first. Unsecured loans pose a threat, but nothing compared to secured debts. Some of the nonessential bills can include credit cards. Although you are responsible for this bill, however the worst that happens with credit cards is that you loose your privileges. Check your terms & agreements, since some credit cards may allow you to pay the interest on the cards. This will give you the time you need to find a solution for paying off the card. Some cards may even allow you to pay the minimum balance on the card and allow you to keep the card in your possession.

8. If you have credit cards you might want to consider paying your bills, which will give you time to repay the credit card. Pay the maximum amount on the credit card before the bill comes in so that you have funds available to pay your bills the following month in case you don't have the funds available.

9. There is always a solution, so never assume that you can't deal with any problem. You might want to cut back on some of your spending so that you will have extra cash when those bills come in also. Cutting back only provides a solution for gaining money and repairing your credit.

10. Lastly, remember you are not the only person in this situation, millions of people before you and after you are, and will be, in the same boat, do not give up, there is a light at the end of the tunnel for YOU.

Author: Jenny Gill is an international author with vast experience in a diverse range of subjects, for more information visit www.creditrepairsyte.com


About the Author
Jenny Gill is an international author with an immense range of knowledge and skills in a wide range of areas. Jenny is a mother and a grandmother and devotes a lot of her time supporting the aged in her community.
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