The Reasons Why Using A Non Profit Debt Consolidation Program Is Profitable

May 9, 2009 by  
Filed under Debt Consolidation


Reduce Your Credit Card Payments by 50%

The definition of a non profit debt consolidation program is a service which will provide you with the option to reign in all of your debts and pay one monthly payment. The debt consolidation service will require a fee which will be added on to the monthly payments. However, the company does not make a profit, the initial fee simply goes towards administration costs.

The emphasis is on helping the customer to achieve one monthly payment that they can afford. The debt consolidation agency will communicate with the creditors on the customer’s behalf and arrange for interest rates to be lowered where possible and any outstanding over-limit fees to be removed from the account thus reducing the overall debt.

We live in a world run by credit so it is not surprising that half of the country if not more is in debt. Once you are on the slippery slope of debt it is very easy to become unable to claw your way out as the interest rates alone will take most of your money before you can even begin to pay back what you actually borrowed.

The first step to financial freedom is to take stock of your situation and approach a non profit debt consolidation agency. These agencies have a well established relationship with many of the creditors and can come to an arrangement to reduce payments for the borrower. One monthly payment is made which the consolidation agency uses to pay the creditors.

There are, unfortunately, some unethical agencies who will take advantage of those heavily in debt. Always be careful when choosing a non profit debt consolidation agency and do a little research into their past history.
Once you have chosen a high quality agency, you can arrange a suitable monthly payment that is realistic and affordable.

Taking this step is crucial for future credit ratings. This will include the ability to take out a mortgage and pay for your children’s education. Whatever stage you are in your life it is always beneficial to have a clear credit rating as we never know when we might need to borrow.

The non profit consolidation agency will also provide appropriate guidance and advice to help those with previous struggles to budget and keep financial matters in order for the future. There is no point getting yourself out of debt only to get right back in again.

No matter how you found yourself in a financial bind, maybe you lost your job and couldn’t find another, maybe the cost of living was simply more than your income would allow. Whatever your reason for getting into your debt situation, there is a way out. The non profit debt consolidation agency will work with you, helping you find ways to manage your money for the time being and the future.

If the rising debts are not faced head on, the interest and fees will see to it that it is a never ending battle. These debt consolidation agencies are there to reverse the vicious cycle and allow you to jump free of the sinking ship.

Find a legitimate agency that will help you regain your financial standing and start your journey to a debt free life.

If you have a large credit card debt, you may need to consolidate your credit cards debt. Bill consolidation loans and debt consolidation solutions are there to help you consolidate your debt and have a better payment structure, which can help you to eventually get out of debt.

When Is A Good Time To Approach A Debt Consolidation Services Non Profit Company?

May 7, 2009 by  
Filed under Debt Consolidation



  

  

  

  
  

When credit is readily on offer it is very difficult not to accept it when times as tough. Many credit card companies will give credit even to those with a dark history of bad debts and those who earn very little. The main concern is that they will be paid back and then some, making the offer a very profitable one.

However, for those left with huge monthly payments and astronomical interest rates, payments can become unaffordable and any little extra cash available from every day costs are eaten up by the interest and not even touching the overall balance.

What happens then? Well, then is a good time to approach a debt consolidation agency and preferably a Debt Consolidation Services Non Profit Company for help to gather all the debts in one place, creating one affordable monthly payment. Why? Because this type of agency will not profit from your struggles and include large fees for the service.

Following are a list of reasons why a non profit debt consolidation service can be an extremely advisable, practical and relatively simple method to help pay off your debt

1. Your one monthly payment is calculated on what you can realistically afford with the debt consolidation agency distributing the payment on your behalf to the creditors.

2. The debt consolidation agency credit counsellors will use their professional relationship with the creditors to reduce your interest rates and where possible eliminating previous over-limit and late payment fees.

3. There will be a consolidation fee that you must pay, you will be notified of this prior to setting up payments with the option to go ahead or not. However, this fee will more than pay for itself due to your debts being significantly reduced.

4. You can live comfortably and stress free in the knowledge that your debts are taken care of with payments you can actually afford.

5. The endless phone calls and demands for payment will stop, allowing you to stop worrying about what action will be taken.

6. You can start to plan a future that is not tainted with debt.

The afore-mentioned fee that you will have to pay to the debt consolidation services non profit agency will cover the administration costs for liaising with the creditors to reduce your debts.

Before deciding on a non profit debt consolidation service, do a little background check to make sure that they have a good history of professional, high quality service. Some companies have a more fully comprehensive service offering advice for customers on how to live debt free and personal budgeting advice. Find a company that will work to help get you out of debt and keep you there.

What is Nonprofit Debt Consolidation And Where Can I find It?

May 5, 2009 by  
Filed under Debt Consolidation

We will be looking into what non profit debt consolidation actually is and why it is so beneficial for those with many debts they are unable to repay. You will be provided with a company in particular to give you an idea of what is available should you require the service.

Those who find themselves drowning in debt will find that most of their monthly payments are going towards the interest without the actual balance reducing. This uneconomical method of dealing with repayments cannot continue and further help must be sought. This help will be in the form of a nonprofit debt consolidation agency.

The most notable benefit of a non profit debt consolidation program is as the name suggests, there is no profit made by the company. Conversely, a profit debt consolidation agency will make a profit and in turn will probably charge a heavier fee.

Unfortunately, there are some scan agencies who take advantage of those plagued with debt by offering financial “help” but puts them deeper into debt than there were initially. This can occur in both profit and non profit debt consolidation agencies, so it is vital that you check the authenticity of an agency and it’s past history.

The process used by a debt consolidation program will involve obtaining you personal financial details, this means the company in question must be fully legitimate and have a known history of providing both ethical and professional help. It is possible to do a bit of ground work to find out if there have been any criticism for a particular agency by enquiring at a Better Business Bureau.

Once you are happy that you have found a reputable agency you can begin the process of nonprofit debt consolidation. Firstly the agency will have a look at your finances, what is coming in and going out. They will then liaise with your creditors and agree upon a more suitable and affordable monthly payment over a longer period. Interest rates will be reduced and many times, over limit and other fees that have been applied to your account will be withdrawn.

The debt consolidation service will use their relationship with the creditors to provide you with the lowest rate and monthly payment possible. A sum which will encompass all your debts will finally be agreed upon by you and the debt consolidation service that they will use to pay your creditors. You will be able to continue paying your debts and live comfortably with piece of mind.

If you have no idea where to start your research into suitable agencies, a very reputable company that provide non profit consolidation is Credit Counselling Services. This company have a well established and immaculate reputation and have helped many to lift themselves out of their financial struggle

Agencies such as this can not only provide you with a service for consolidating your debts but also as a port of call for any questions or concerns that you have such as personal budgeting, on an on-going basis. They will provide you with appropriate advice taking care of your financial issues and allowing you to begin living stress free.

Probably the most important message here, is that you must take care to find a valid debt consolidation agency such as the Credit Counselling Services to make sure you are in safe hands. From there you will be taken care of and guided appropriately.

Looking For Non-Profit Debt Consolidation In Florida?

May 3, 2009 by  
Filed under Debt Consolidation

Like many other areas, Florida has an ever increasing population dealing with credit debt. Many are finding themselves in deep water with monthly payments that they just cannot afford.

If you are looking for non profit, debt consolidation in Florida, a good place to start is CuraDebt. This organization will assist you with your financial problems and put an end to your vicious credit debt cycle.

Why is CuraDebt so beneficial? Like many other debt consolidation programs, the emphasis is on reducing your monthly instalments to realistic achievable amounts and lowering the interest which makes them otherwise so unaffordable. The never ending phone calls from creditors will cease, giving you piece of mind that your finances are in order.

No more payments here and there, just one affordable payment to the debt consolidation lenders, who will then make payments to the various creditors on your behalf. Fees that have been incurred due to late payments and going over your limit will be waived or at the very least significantly reduced.

Debt consolidation is a relatively new concept where all your debts are assigned to one organization who deals with your creditors for you and combines your debts into one easy payment per month.

Sometimes the headache of keeping track with all the various debts can hugely contribute to the stress involved in financial difficulties.

Free debt consolidation helps you to get back on track without the middle man making a profit from your debt situation and there are thousands of people currently taking advantage of this assistance to clear debts much faster than they would otherwise be able to.

Those looking for a debt consolidation program in Florida, including credit card debt consolidation and other loan debt can quickly and safely, using the debt consolidation program, regain control of their finances and begin the road to living debt free.

These debt consolidation lenders have a working relationship with many of the credit companies and can provide you with the lowest interest rate and remove added fees, the interest will also be further reduced with the debt itself being reduced.

You will be assisted every step of the way from debt consolidation advice to dealing with the creditors on your behalf.

Research has shown that the average amount of credits cards per household in the U.S is fourteen credit cards. With many credit card companies offering enticing credit with additional bonuses it is no wonder that credit card debt is rife. However with help from free debt consolidation it is now possible to reverse the nightmare of debt and the sky high interest rates that go with it.

How to Determine if Debt Consolidation is for You

March 13, 2009 by  
Filed under Debt Consolidation



  

  

  

  
  

Most of us fall upon hard times at one point or another in our lives, and the vicious cycle of revolving debt that seems too large to ever pay off is no exception. Before you know it, late fees and penalties make your outstanding balances grow exponentially, and you feel as though there is nowhere to turn.

Consumers are increasingly turning to debt consolidation services to help get hold of their debt and outstanding balances. These companies are ideal for several situations that may be leading to bankruptcy, but some consumers find they can produce the same results themselves. Debt consolidation and credit counseling companies provide a valuable service that includes both pros and cons to consider carefully before using.

Debt consolidation programs may include taking out a debt consolidation loan that is unsecured or secured (such as with your home). Credit counseling companies may settle your debt for less than is actually owed, or negotiate lower interest rates and monthly payments to make them more affordable for you and easier to pay off in a shorter amount of time.

These options make paying debt off much easier, as you make only one payment to one creditor on a monthly or weekly basis. You may also be able to have that payment automatically deducted from your paycheck. If you have a debt consolidation loan, your credit report will show the original creditors as being paid off. Credit counseling companies disperse payments to all creditors included in the agreement, and your credit report will show that you are enrolled in a credit counseling payment plan.

Different types of plans will create different results when it comes to the total monthly payments due, interest paid on the debts, or the total debt balances owed. Ideally, you want all three of these to happen, though it is highly unlikely. Most programs can negotiate lower interest rates and monthly payments, but the original balances will not decrease.

Creditors are more likely to agree to changing terms of a loan or credit card debt because lower payments become more affordable to you, and are more likely to be paid. Be careful, though – even one late payment can eliminate any and all agreements, putting you right back where you started!

Becoming debt-free is the goal with any debt consolidation or credit counseling program, so ensure that lowering your payments will not increase the life of your payoff period. This is what will happen if only your payment and not the interest rate is lowered.

Also remember that some companies will charge a small fee, typically paid monthly, to negotiate these terms for you. You may have the option to do it yourself, however.

Start by calling all of your creditors, and explain your current situation and the reasons you have fallen behind. Ask if there are any special programs which you qualify for; most creditors can lower your interest rates and payments for long enough to make it feasible and able to be paid completely off. This option will not have any negative effect on your credit report if the companies agree to report your account as paid up-to-date.

Unsecured Debt Consolidation Loans

February 15, 2009 by  
Filed under Debt, Debt Consolidation


Reduce Your Credit Card Payments by 50%

Unsecured debt consolidation loans are the answer to the prayers of anyone who has trouble with financial management and has nothing to offer as security for debt loans.

Unsecured debt consolidation loans simply mean that the debt loans have nothing to do with owning property or other assets that the bank could take if you did not pay up. Mortgages would be an example of secured loans. Car loans would be an example of unsecured loans.

Unsecured loans are far riskier for banks; because of this, the interest rates are higher than those of secured loans. It may be better for those taking out the debt loans, though, since the bank has no way of taking their houses if they are not able to pay. Anyway, there are a lot of people who don’t even own their own property or already have a mortgage but do not wish to increase it.

Debt consolidation loans are debt loans that can pay off all the other debts that you have, in exchange for a single monthly payment. A lot of people tend to have smaller debts on their store accounts, credit cards and car loans that they need to pay for monthly, so it may be difficult for them to keep track of each payment, causing them to miss some and resulting in higher charges in the long run.

Debt consolidation loans can help, in that they only require you to make a single payment. They can also help by getting you a lower rate of interest in debt consolidation loans compared to your other bills. Store cards and credit cards tend to have high interest rates and you could do better without having to pay all of them off.

Before getting approved for a debt loan, however, you will need to fill out some forms, so that the credit union or bank can find out more about your financial history, such as monthly expenses and income. Your credit history will also be looked at.

Finding a debt loan is quite easy, provided you have a regular paying job and a good salary. Even if you have been spending quite a lot recently, you should be able to cut back on expenses so you can make the debt loan payments without any trouble. What finance companies look for are regular, steady people that they can give debt loans to; that is their business, after all.

If your credit score is very low, you may not be approved for an unsecured loan. Sometimes, even with a good credit score, people get turned down, too. But do not let this get to you. Keep trying. Just because one finance company or bank says no does not mean that they all will. You just have to look around a bit, but there are a lot of companies that offer unsecured debt consolidation loans to people, even if the people have bad credit.

Non-profit Debt Consolidation Loans

February 13, 2009 by  
Filed under Debt, Debt Consolidation

A lot of non-profit debt consolidation loans can be found nowadays and people tend to choose this kind of loan above any other ones. If you have some small bills that you pay off monthly, a debt consolidation loan would be the perfect answer to your prayers. One debt loan can be taken out to pay off all your other debts and you will only have to repay them per month. It is a much simpler way to budget things and to remember payments; and, most of the time, it’s even cheaper.

Non-profit debt loans can be found at credit unions, which are cooperative associations that all of its members own. This differs from any other financial institutions, like banks, since those are owned by its shareholders.

Most people run to a finance company or a bank that they already transact business with the minute they realize they need a debt loan. If you have been transacting business with a bank for a couple of years now, then they will probably give you a debt loan since they know exactly what happens from within your account from your past savings or checking accounts.

For some, though, credit unions may be the better choice since they have more options to offer. Credit unions have a different set of rules and regulations compared to those that banks have and therefore have a completely different approach. Personal advice is given after evaluation of your financial situation with a credit union and the interest rate is usually much lower, as well.

Credit unions let members save and put money into the credit union. Other members may need to borrow money and they take it out. The interest that needs to be repaid goes to those members who have saving accounts, which then count as interest on these savings.

In the United States of America, the Credit Union National Association (CUNA) is in charge of regulating credit unions. Credit unions have a field of association, which chooses which people they give debt loans to; these are not open to everyone, however. They might choose their members from location, school, employer, or even church. You need to ensure you are in their field of association before joining the credit union and getting debt loans. To see the CUNA’s database on credit union locations, visit: http://www.creditunion.coop/cu_locator/index.html

Once a credit union takes you under its wing, you must also find out if they also offer debt consolidation loans. Ask for a quote.

It is pretty easy to figure out if the debt loan will financially help you. You can do this by taking a look at interest rates and comparing them to several of your smaller debts. If they are lower than your debt, then it is a good deal. You can also apply and ask for a quote, if you’d prefer. Just make sure you check monthly payments that they quote and see that it is less than the total payments you are currently making.

Credit unions tend to offer better debt loans than banks do most of the time. The majority of people who are eligible for debt loans would advise you to take non-profit debt consolidation loans over debt loans from any other financial institution, no doubt about it.

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