Home > Debt

Debt

Tips On Getting Through And Keeping Your Cool During A Financial Crisis

If you’ve suddenly found yourself laid off of work, or worse yet, totally without a job, your first response may be to panic. Once the intense fear wears off, it’s time to collect your thoughts and put your situation into perspective. Your initial goal should be to try to find some form of income to cover this month’s bills. You should also try to find a way to postpone your payments or reduce the monthly amount if at all possible. Here are just a few suggestions on what you can do to keep your cool and survive a financial crisis. Seek A Short-Term Loan One of the last things that may be on your mind during financially challenging times is to take out and borrow more money. But in some cases, it may be to your advantage. If you know your money problems are only temporary, you can utilize a short-term loan in order to bridge the gap of no income until you see a steady flow happening again. An installment or personal cash loan allows you to gain access to cash and borrow the money you need for daily living expenses and important bills, such as utilities that need ...

Read More »

Performing Loan Consolidation The Right Way

If you’ve already done your preliminary research and have a pretty firm idea that you’re going to go ahead with some form of debt or loan consolidation, you’ll need to proceed carefully to make sure you end up placing yourself in the most advantageous position. You’ll need to look at the different methods for consolidating. You’ll also want to decide how your debt will be consolidated. On top of that, there are plenty of pitfalls ready to put the unwary borrower at risk, so you’ll have to take care to stay mindful of those as well. Here are just a few of the things you should keep in mind to ensure that when it’s time for you to consolidate your debt, you do it in a way that pays off. Which Consolidation Method To Choose? You already understand the basic principles of what debt consolidation is, but do you understand there are different ways to go about it? Depending on your circumstances, you may have more or fewer options available, but the ones most people should keep in mind are balance transfers, home-equity loans, and personal loans. The balance transfer is a process by which you transfer the balance of ...

Read More »

How to Potentially Avoid Bankruptcy with the Help of United Debt Counselors

If your debt situation has become too overwhelming for you to manage, you might immediately consider bankruptcy as your first and only option. This, however, may not be the case. When it comes to managing debt, there may be a variety of options. Here are a few ways to potentially avoid bankruptcy and work towards a debt-free life with the help of United Debt Counselors. Make an Appointment If you’re reaching a breaking point with debt, the first thing to do is realize that you usually have options. Avoid feeling overwhelmed by realizing that there are steps you can take in an effort to improve your situation. If you are not interested in or do not qualify for bankruptcy protection, the first thing you can do in this situation is to sit down and call United Debt Counselors. Ask to be connected to a debt representative. Once you’re put through, you can speak openly and without fear of judgment about your debt situation. The company representative will then work with you to create a realistic settlement plan specific to your situation. Speak with a Local Representative The next step is to meet with one of United Debt Counselor’s nationwide field representatives. ...

Read More »

Think Twice Before Taking a 100% Auto Loan

It may seem a great idea to take out a 100% to buy an auto. If your credit score persuades a lender that you can repay in full, then you get your new auto without having to spend any money until the repayments start. Just because lenders are happy, it does not necessarily mean such a loan is in your best interests. Remember that the recession was caused by the availability of easy credit with many people getting 100% loans on real estate that was expected to continue to increase in value. In the case of an auto, it goes the other way; it will never be worth more than your purchase price. There are several reasons why it might not make sense to borrow 100% and they are worth considering. Monthly Payment The monthly payments on a 100% loan will clearly be much higher than those if you put down 20 – 25%. If you are managing your financial affairs well, living with a budget that monitors your position at any one time, that monthly repayment needs to be entered in your expenditure column? Is it affordable from your point of view? Loan Term If you want to get ...

Read More »

5 Ways To Get A Handle On Your Debts

No one likes being in debt. It is a hard financial burden, and if steps are not taken to get it under control, it will only snowball into a larger problem. If you’re someone who is in debt, then you may be looking for ways to get things in order. Below are a few of the options that are available to you, and how you can get started with them. In some cases, a simple phone call will be enough to get you on the right path, while in others, larger legal action will need to be taken. Take a look at the list below, and see which option is best for you. Consolidate Your Debts First off, if you owe money to several different places, then consolidating them into one loan may be a good first step. For people with several loans or debts, combining them into one larger debt will make it so that you only have one monthly payment to make, and this will typically be lower than the payments you are making now. Depending on what kind of interest rate you can get, and what the monthly payments will be, this option could save you a ...

Read More »