Many of us live in the moment when it comes to finances – if the money is there, or the credit is available, spend it or take advantage of it. If you truly want to get out of debt and remain out of debt, there are some steps you can take to make sure you avoid getting back in to the same old rut while you’re paying off present debt. Always remember that when you put that great sale item you found on a credit card, you’re paying much more than it initially cost. Credit cards are so ... VIEW POST

Those harassed by debt collectors often panic from the pestering. Constant phone calls, being abusive on the phone, calling at work or late at night are not acceptable and should not be tolerated. If you have an outstanding bill and are being harassed by debt collectors, you should know your rights. For example, ask for a written notice stating how much you owe, who the creditor is and your rights from the debt collection act if you believe you don’t owe the demanded money. You should ... VIEW POST

  Non-consumer loans are classified as good debt and consumer loans are considered to be bad debt. Basically, non-consumer loans fall into the category of offering low interest rates, collateral that will likely increase in value and tax advantages. Consumer loans are viewed as bad debt because of their high interest rates, no collateral that can be used to secure a loan and no tax advantages. You should know the difference in these two types of debts before attempting to secure a ... VIEW POST

Heavy debt can make you feel as if you’re drowning. You may feel like an elephant is sitting on your chest preventing you from breathing, feel out of control and feel panic that keeps you from thinking clearly. Until you formulate a plan for getting out of debt, you’ll keep floundering and the debt situation will only get worse. When you’re finally determined to rectify the situation by doing everything possible to get out of debt – it’s time to formulate a plan. First, carefully assess ... VIEW POST