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      February 19, 2018

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Benefits of Debt Settlement

Debt Consolidation vs Debt Settlement

Debt Relief vs Bankruptcy

Pitfalls of Declaring Bankruptcy

Reasons for Debt Consolidation

The Bankruptcy Process Explained

What Is Debt Consolidation?

What Is Debt Negotiation?

What Is Debt Settlement?

What To Do if You're In Debt

 

Top Consumer Reviews Articles

TopConsumerReviews.com provides unique articles that you won't find anywhere else on the internet. These articles are designed to help you make the most informed decisions possible.

Top 5 Reasons to Consider Debt Consolidation

The term debt consolidation is often thought of as referring to a debt consolidation loan, but that's not actually the case. Debt consolidation refers to the act of consolidating bills into one monthly payment without actually being granted a loan. If you have ever heard of a debt consolidation company, then you may already know how the process works. If not, this article will explain the process and why it may be beneficial for anyone who is in need of valid debt relief.

Have you ever been late with a credit card bill? If so, how many times has the issuing bank called you before your second payment was even due? If you miss one single payment, the telephone begins to ring and you instantly recognize the importance of debt relief. If you miss two consecutive payments, you can forget about having any peace within your household. The collections department that serves most creditors is ruthless and the people on the phones are considerably less than pleasant. After a period of three months in a debt consolidation program, the majority of collection calls will stop.

A debt consolidation company attempts to work with your creditors in order to get you a lower monthly payment. If you are already behind with your payments, it may be time to consider the real possibility that you are in need of debt relief. A more affordable monthly payment is all that many debtors need to help get them back on track with finances.

One of the greatest drawbacks to credit card debt is the high interest rates that often accompany an account. Some lenders may offer a zero or low introductory APR (Annual Percentage Rate), but the keyword in that sentence is "introductory". Once that period expires, the APR will increase to the preset amount as described in a cardholder's agreement. When interest rates get out of hand, less of your payment is actually being applied to the principal balance. Essentially, you may be paying for nothing more than interest or, in the worst case scenario, you may be going deeper into debt every month. A debt consolidation company attempts to get interest rates lowered or, in some cases, even eliminated throughout the course of their customized debt relief repayment program.

Although a debt consolidation company does not provide a loan, they do collect one lump sum payment from you each month that will then be distributed to your creditors according to the agreed upon budget. If you have 5, 10 or even 15 bills due each month, it can be a daunting task to keep up with due dates. By having one lump sum payment due on the same day each month, you will be effectively controlling your own payment schedule and will lessen the likelihood of forgetting to submit payment.

The last, but certainly not least, important reason to consider a debt consolidation program is because it can help you to get out of debt much faster than if you were to continue paying the minimum monthly payments, high interest rates and miscellaneous penalty fees. In most cases, creditors will stop charging late and overlimit fees after 1-3 months of consecutive payments through a debt consolidation program. Generally, it can take as many as 15 years to pay off one single credit card under normal circumstances. With the help of a debt consolidation program, you may be debt free sooner than you ever thought possible.

Credit Utilization Rate Explained By National Debt Relief

Credit utilization ratio is an important factor in computing for credit scores and National Debt Relief explains it in more detail. The article titled "Understanding Your Credit Utilization Rate and How to Improve It" released February 14, 2018, helps ...

Published:  Sun, 18 Feb 2018 10:52:00 GMT



Consumer Alert - Debt relief promises: Tips for choosing a debt relief service that keeps its word

OTTAWA, Feb. 15, 2018 /CNW/ - Whether trying to catch up on holiday bill payments or dealing with an unexpected life event, most Canadians would agree: struggling with debt is not what they are looking forward to in 2018. Fact: According to recent data ...

Published:  Thu, 15 Feb 2018 10:33:00 GMT



EU's Moscovici calls for Greek medium-term debt relief deal in June

ATHENS (Reuters) - Greece and its lenders must agree on measures for medium-term debt relief in June, before Greece exits its bailout later in the summer, Europe's Commissioner for Economic and Financial Affairs Pierre Moscovici said on Thursday.

Published:  Thu, 08 Feb 2018 08:47:00 GMT



Courts can examine interest rate on farm loans in states having debt relief laws: SC

In a significant verdict, the Supreme Court today held that the courts can scrutinise the rates of interest being charged by banks from farmers in states where debt relief laws are in place to deal with rural indebtedness. In a significant verdict, the ...

Published:  Fri, 16 Feb 2018 08:20:00 GMT



EU's Moscovici 'Especially Optimistic' on Greek Debt Relief

ATHENS (Reuters) - European Commissioner for Economic and Financial Affairs Pierre Moscovici said on Thursday he was "especially optimistic" about efforts to reach a solution on Greek debt relief. Greece's third bailout ends in August and debt relief is ...

Published:  Thu, 08 Feb 2018 03:39:00 GMT



Cuba Creditors Offer 'Very Significant Relief' in Debt Proposal

Cuba's commercial creditors have offered "very significant debt relief" in a proposal sent to cash-strapped Havana in late January, according to two advisers to the group, in a sign that holders of the defaulted debt are ready to ramp up the pressure.

Published:  Tue, 13 Feb 2018 08:33:00 GMT



Debt Relief 101: Things To Know About Your Debt

Debt is a common term found in a lot of industries today, especially if we realize that debt can be used by almost all people in all walks of life. Many see debt as an answer and as a solution to their financial needs. On the other end, some people also ...

Published:  Fri, 16 Feb 2018 14:15:00 GMT



FTC Accuses Student Loan Debt Relief Operation of Deceiving Consumers

On February 7, 2018, the Federal Trade Commission ("FTC" ) announced an enforcement action against a student loan debt relief operation, claiming it deceived consumers out of $28 million by falsely promising that their monthly payments would go ...

Published:  Wed, 14 Feb 2018 19:30:00 GMT



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