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Dealing with debt? The warm summer months are a great time to work extra hard toward paying it off. At first glance with its promises of extended – and expensive – family vacations, summer may not seem like the ideal time to make some meaningful headway on the pile of debt you’re facing. The less structured time combined with a more relaxed and laid-back attitude can make the season a good choice for paying down credit card and other loan balances.
Summertime is garden time, and that means you can find an abundance of low-cost and really healthy foods. Grow your own, seek out roadside stands or farm markets and shop around for the lowest costs. Hanging around at farm markets at closing time can yield some great deals on produce. Don’t be afraid to bargain for lower prices; most growers would far rather sell than pack up their goods and return back to their farms where they may not sell at all. Offer to help a seller load their stuff at the end of the day in exchange for produce. Fishing is another great seasonal option, but be sure you don’t spend a lot on bait and equipment.
You may have read about the movement in recent years to stay at home for family fun instead of visiting faraway places that require costly hotel stays. Plan some family activities and research local hot spots like amusement parks, beaches, film and music festivals, hiking areas and plan a fun-filled summer that won’t break the bank. Still crave an overnight stay? Local campgrounds could be just the ticket with low-cost tent sites or cabin rentals, structured hikes and children’s activities. Don’t forget to pack the makings for s’mores and other fun treats.
The kids are out of school, and even if they have other obligations, the stress of meeting those obligations decreases than when school is in session. What’s more, the general mindset of the season is one of laidback relaxation. It can be difficult to make smart decisions during times when you’re overburdened with stress, so use this season of relaxation to set firm goals to follow for the rest of the year. Ideally, set your repayment plan on autopilot now so you can be more relaxed about your debt repayment when school and holiday seasons approach.
Consider finding a New Jersey debt consolidation program like Credit Guard to have your interest rates lowered, and combine all your debts into a lump sum that you can effortlessly repay each month with just one payment. Most debt consolidation services also offer credit counseling so you can learn about good financial habits that can help you feel more financially confident throughout the entire year.
The New Year may seem like the time for resolutions, but coming right after the stressful holiday season, it can be a difficult time to make meaningful change. The laidback days of summer can be a much better time to focus on the changes you need to make to climb out of debt and develop healthy financial habits that can last a lifetime.Read More
If you’re in business, proper credit management is essential for staying in the black. The process of good credit management entails qualifying the extension of credit to a specific customer, monitoring the logging of payments on outstanding invoices, initiating the proper collection procedures and resolving any queries or disputes with reference to charges on a customer’s invoice. When a business implements credit management efficiently, a business is able to remain financially stable.
The first step of effective credit management begins with properly assessing the creditworthiness of a customer. This step is especially important if a company decides to extend a revolving credit line. Specific criteria need to be set and met before extending this type of credit line. In line with the evaluation process, the total credit line needs to be determined.
The credit management process for extending commercial should entail the gathering of potential customer data, such as current credit score and the financial condition of the prospect. The current ratio between outstanding financial obligations and income should also be taken into consideration. Good credit management not only protects the vendor from potential losses, it also protects the customer from having more debt obligations that cannot be met in a timely fashion. When the process of business credit management functions efficiently, everyone benefits. Businesses have assurance that invoices will be paid within terms, and customers have an opportunity to create a solid credit reference.
There are business debt restructuring services that can assist a business when they are having difficulties with accounts receivable. Many credit counseling agencies offer strategies and educational programs to enhance a business’s credit management skills. Some of them are even free. When you contact an agency for business assistance, you’ll be assigned a certified and experienced financial counselor. A financial counselor will review your business operations, accounts receivable procedures and help you implement effective strategies to increase your bottom line. You’ll be given legal and professional solutions to your credit management problems.
Many of these credit counseling agencies also offer workshops locally and online. As a business owner, you can gain innovative and invaluable knowledge to operate your business in the black. Taking advantage of these free workshops is an effective way to sharpen your skills as a business owner and keep business operating in a productive manner. Even if your business is in the red, the financial counselors can also help you arrange payment plans to your own creditors.Read More
If keeping up with your credit card payments has become a problem, you can reduce your monthly expenses and get a lower interest rate at the same time with a good program to consolidate your credit card debt. Once you decide to enroll in one, any additional charges or late fees from your creditors can also be reduced or waived.
What You Can Do
When you are ready to consolidate credit card debt by working with a debt consolidation company, they will begin by negotiating with your creditors on your behalf. At the same time, your payments will be rearranged and you will find that it has become easier to manage your finances if you take this step.
How Debt Consolidation Works
When you receive a new payment plan from your debt consolidator, it will be tailored to your needs and circumstances to ensure that default will not be an issue. You will also begin to feel that you are in control of your finances instead of living with them as a source of constant worry and frustration.
As you consolidate credit card debt, you will be making one monthly payment to your debt consolidator. The consolidator will take of paying your creditors individually, and you will no longer be compelled to deal with several interest rates and write multiple checks every month.
How You Can Benefit From Debt Consolidation
Because you will be paying more than the minimum payments your creditors require, that means you can pay what you owe in comparatively less time. In other words, by participating in a consolidation program, you will be shortening the amount of time you need in order to become debt free.
Getting Debt Counseling You Can Use
Generally speaking, the consolidation company you choose will also provide debt counseling at no additional cost to you. This will enable you to review your financial situation, discuss the pathway to becoming debt free with an experienced financial professional, and do what is best for you in reaching that goal.Read More
The state of California has proposed a bill that would require that credit agencies make students aware of the consequences of accumulating too much credit card debt. The proposed legislation is designed to encourage greater transparency among credit card companies and college students. Credit card companies will now have to be much more open in how they communicate the terms of a credit card agreement. If enacted, the bill could be copied by states around the country.
If the measure passes, the credit card company will have to provide more information on the interest rates and fees to all students. All companies who regularly recruit college students and work on college campuses will have to disclose this information. The companies would have to inform students on how long it would take to completely pay off the debt on the card making only minimum payments. This information would have to be communicated verbally with each college student. The bill focuses on first-time cardholders between the ages of 18 and 26.
The average college student graduates from college owing $26,600 in student loan debt. Two-thirds of students who graduated in 2011 owed that amount. In this climate, this can be detrimental to the recent graduate’s financial future because of high unemployment. Some experts recommend that the recent graduate be able to earn a salary that can help them completely pay of their student loans.
Credit card debt help in the form of debt consolidation has counseled thousands of people with credit card debt. It has helped many people eliminate all types of accumulated debts. By consolidating all of the debts into a single payment obligation, individuals can pay off their debts quickly. The simple program is designed to fit into the person’s budget. With the flexibility provided in the program, a person can quickly resolve their debts and avoid debt collection nightmares.
The credit card debt help agency creates plans for recent college graduates and students entering their final year of college plan for a solid financial future by helping them manage and eliminate student loan and credit card debts. Planning ahead by developing a repayment plan before or immediately following graduation is recommended. Since the average graduate isn’t guaranteed a high-paying job immediately out of college, the he or she must be careful as to avoid neglecting their financial responsibilities.Read More
Students are borrowing more and more in order to pay for their higher education. They know that among those who have a college education the employment prospects are better and the rate of unemployment lower. Although this is a worthwhile investment for most, it’s still important to know how student loans work and affect the person’s credit report.
Working exclusively with one lender means that one loan appears on the credit report. This isn’t always the case. A person can borrow from the same lender and still have multiple loans reported on the credit report. A student who has had the same lender disburse funds to the student a total of eight times can expect to see eight different disbursement items on their credit report. This means that the student can see eight different incidents on their credit report. A student who can fall slightly behind a few payments on a loan can expect to see eight negative reporting incidents as a result.
Debt consolidation services like can benefit a student who has fallen behind on student loans. Some are able to see an immediate change in their credit score within several months of having the debts consolidated. The consolidation process can reduce the number of separate items on the credit report and can help some students become current on their loans. Within months, a student can begin to see a difference in their credit scores when participating in a program offered by debt consolidation services.
One of the most confusing areas for a person planning to repay on all student loans is the timing of those payments and how they can affect one’s credit. In some cases, a person’s credit score may benefit from paying off a student loan early. In other cases, a person’s credit score may be adversely impacted by paying off the student loan debt early. Working with a strategist from a debt consolidation program can give the person the best repayment strategy that will improve the student’s credit. These programs prepare recent graduates with financial planning, debt counseling and debt strategy services to help the students transition responsibly into their professional lives.Read More
Many people encounter a situation where they need quick access to funds. These people often work hard and save regularly to prepare for emergencies. It’s usually only in the case of a financial emergency that a person suddenly discovers that he or she isn’t quite saving enough. By then, the person has already made a costly mistake that could haunt the person for years by taking out an expensive 401K loan.
The person has introduced another debt. The person still has to pay off the loan and now faces a 10 percent penalty for borrowing from the 401K. The person’s 401K may prevent the person from being able to contribute until the complete amount is repaid. If the person doesn’t pay back the entire amount of the loan within a certain amount of time, the person can expect to be hit with a high tax bill. For the financial emergency, the average person only has a limited number of options available aside from savings.
Savings and keeping an emergency fund are challenges many people face during tough times. A person who pays all of their bills on time can unexpectedly land in a delicate situation when a sudden shift in finances occurs. If the person has the opportunity to save more money, they would be better prepared. A credit consolidation provides a great opportunity for a person to save.
A person can enroll in a credit consolidation program. A budget can be developed with a person’s savings goals in mind. The person can then group all of their debts and make one single payment each month to cover the debt. As the debts are paid off, the person is working toward financial security in committing to a long term savings strategy. The budgeting, credit counseling and debt coaching all work together to help the person get their personal debt completely under control in record time.
The best approach is to avoid creating additional debt at all costs. The 401K loan and short-term cash advances all come with hefty fees and their share of consequences. The financial impact diminishes a person’s capacity to quickly pay off the debt, exposing the individual to fees, penalties and a damaged credit score.Read More
There are differences in debt consolidation companies. Some offer an array of counseling services while others focus almost exclusively on debt consolidation. Consumers must be careful to select the best program that will help them achieve their financial goals. Here are some things to look for when trying to find the best debt consolidation program for one’s financial scenario.
They Offer Other Forms of Counseling
The best debt consolidation companies like www.creditguard.org/debt-consolidation/ will offer a variety of counseling services for their clients. Some people may only require debt consolidation assistance. Others may want access to budget counseling or coaching to help them achieve their financial goals. A reputable agency will offer an array of coaching and counseling in all areas of personal finance to help them stay out of debt once they’ve paid it off.
The Debt Consolidation Counselors Are Licensed Professionals
The debt consolidation counselors are licensed professionals. Most reputable agencies require that their counselors receive certain types of training and maintain certain credentials in order to work for them. These counselors receive extensive training in consumer debt and debt management. It’s important to work with professionals who are qualified and experienced in this area. In addition to having the required licensing mandated by the state, good counselors receive additional training on the job to make sure that they are able to offer the very best counseling for clients.
You Clearly Understand Your Options after Your Initial Consultation
The person should know how their credit will benefit after receiving a free initial consultation. One should know what to realistically expect upon enrolling in the program. Information should be provided on the repayment options available and how long it will take to completely repay all of debts. One should also understand what steps are required to move forward after an initial consultation. Our counselors spend as much time as necessary on each consultation to ensure that each client fully understands the ins and outs of debt relief counseling program and services offered.
Clients who choose to tackle their consumer debts are able to repay their debts in record time with debt consolidation services. Most consumers are confident in their ability to create a solid financial future upon completing a debt relief program and credit counseling.Read More