The full brunt of the credit crisis is hitting home and more people are concerned and scared about thier financial future.  As well they should be.  If you are burdened with a big debt load heading in to a slowing economy you should be nervous.  Your chances of making it ok will go down dramatically as compared to someone that is not carrying any credit card balances.  If you have debt now, you should be focused on trying to get rid of it rather than taking on new debt or just making minimum payments.

Cut Up Your Credit Cards And Start Using Cash Continue Reading »

How do you use a credit card? The credit card industry has changed the way we buy consumables. You see Visa, Master Card, Discover and American Express logos everywhere now. You can even buy your hamburgers at McDonalds with a credit card. It is now convenient to make purchases even if you don’t have the money. Anyone who survived the depression would probably cringe. Back then if you didn’t have the money you didn’t buy it. Bank loans were tough to come by. So if you couldn’t afford something you just made do. Now you can go buy something an hope to figure out how to pay for it later. This type of thinking has made us a nation of debtors. At no point in our history have we seen such an abundance of debt and financial issues facing people. Bankruptcies in our country are at an all time high with no relief in sight. Continue Reading »

How Does Consumer Credit Counseling Work?

This information going to discuss the advantages of doing a Consumer Credit Counseling program. You may have heard of debt consoladation referred to as Consumer Credit Counseling, CCCS or debt management. To clear up the confusion, they are pretty much the same thing. Doing a debt management program is much different than doing a debt settlement program. In debt settlement you are negotiating down the amount of principal to pay back and debt consoladation you are negotiating the interest rates. In consumer credit counseling you will pay all of the principal plus interest. Debt negotiation will save you a lot of money in the principal but your credit score will get wrecked during the process. In debt negotiation you will pay back less than you originally borrowed. As you can imagine your creditors do not like that too much. Continue Reading »

Debt Settlement tips from the experts – Debt Negotiation

Most consumers have questions about debt settlement and debt negotiation programs for their past due accounts and collections. This article is a commentary about the debt settlement industry. I think the first thing to talk about is what debt settlement and debt negotiation are not. Debt Negotiation is not about avoiding paying your bills. This is just a wishful thinking. If you borrow money from someone, they are going to want it back. This is only reasonable. If you borrowed money from someone, they can come after it for you. Some will come after you very aggressively. Creditors do have rights to contact you for repayment. Debt Settlement is not Bankruptcy. Continue Reading »

Debt Consolidation vs. CCCS what you need to know

You have probably seen the TV commercials promising hope for those who are overwhelmed by their debts. CCCS or Consumer Credit Counseling services offer what seems to be the golden pathway to getting yourself out of financial trouble. It used to be that one of the debt consolidation companies in the industry was Ameridebt. This is the company that most people think of. They are not longer in existence any longer. Continue Reading »