Home     About Us    Contact Us     Contribute     Privacy
Investing
Stocks
Bonds
Mutual Funds
Biz
Credit
Career
College
Economics
Tax
More
 
 
Marketplace
Related Articles
More
Related Categories
Tip of the Day

Tip of the Day Be Patient

Be Patient - Your friend has just gone out and bought a state of the art computer with all the bells and whistles and after looking at your slowpoke old...

read entire tip

Related Podcasts
Recently Added
Other Great Sites
 

Consolidating Credit Debt

Are you interested in consolidating credit debt? Are you up to your eyeballs in debt and looking to reduce your monthly payments on debt? This may be your situation, but you must take some additional steps in controlling your finances when consolidating credit card debt. This is usually a last resort before you have to go into credit counseling or bankruptcy.

Consolidating credit debt can help you relieve a cash flow situation, but you have to be ready to live within your means to make this strategy work. How do you get started? Here are some steps for getting started and some words of caution in consolidating credit debt.

The first step to getting out of credit debt is to recognize your poor money management skills. Now, you have to get some help. Just like with any serious problem, it often takes the work of a professional to get you back on the narrow path. In this case, a reputable financial advisor acts as the iron fist and gets you into shape. He or she will review your entire financial situation and give you advice on whether credit debt consolidation is right for you.

A word of caution is needed here. Be sure to find a reputable financial counselor. Check them out with the Better Business Bureau. Don’t select someone just because they have a dancing figure in an Internet ad. You can find yourself in an even worse financial situation by going this route.

Another factor, when considering consolidating credit debt, is whether or not it has to be secured with property such as home equity or other property. This can be dangerous because you could lose your home or other property if you do not pay the loan back. Even if you end up filing bankruptcy, you may have to pay back this credit debt consolidation loan. Bankruptcy laws are much different now, so be sure to check everything out with your financial advisor and attorney if you are seeking this path.

Be sure to weigh all of your options before consolidating credit debt. You want to clean up your financial situation, not complicate it further. You can do this if you are willing to change and stick to the plan. Good luck!

Discuss It!

bit.ly said:

Unsecured loans allow you to use your good credit to consolidate multiple debts into a single loan with one monthly payment.

kfc menu india said:

Get Latest KFC Coupons, Discount Codes, Voucher Promo Deals & Offers Online. Get up to 50% Off on Burgers, Chickens & Beverage.

Most Popular Articles
Most Popular Definitions
 
Daily Definition

Definition of the Day George Soros

Definition: George Soros is one of the top investors of the last couple decades.  He is largely known for his bet against the British pound, which resulted in a one-day profit of $1 billion. Advice: George Soros managed the Quantum Fund, a wildly-successful hedge fund, for nearly 30 years.  He rose...

read entire definition

 
 

 

 

Home     About Us    Contact Us     Contribute     Sitemap

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Copyright © 2009 TeenAnalyst.com