Get Debt Free

If you once have been caught in the debt trap, how do you come out of it and be debt free? We are different and each of us has our own lifestyle and our own financial state, so the way to debt elimination is different from person to person. One plan will be good for some, but not for others. You have to be certain that the plan you choose, whether it is debt consolidation or another plan, will be the best for you with regard to saving both time and money.

Search for advice

A debt counselor has debt help as a profession. He or she helps to find the right debt elimination plan for different clients, dependent on which financial situation they are in. This is the first natural step out of your debt prison and on your way to freedom of debt.

So, choosing the right debt elimination plan means;

• decreasing the time and money required to eliminate your debt

• lowering your stress associated with the financial situation you are in.

Debt stressors have a huge impact on our lives especially on our health - the longer you procrastinate the decision of eliminating your debt, the more likely you will be able to reduce your health and even destroy yourself and you're your life.

Consolidating Debt

The purpose of Consolidating Debt is to decrease the number of bills and payments that you have to make each month. So, what you are doing is consolidating your bills into one easy payment. This will

• save you money

• help you to eliminate your debt faster as well and

• be an excellent way to reduce your stress

• If you are in a situation with multiple loans that you are making monthly payments on, you also have many different interest rates to pay. • When the number of bills are growing, there is an increased chance of making mistakes on your payments. The results can be money out of the window, like for instance increased fees. And this does not bring you to the road of debt reduction, but to even more debt.

Consolidating your debt will lower the risk of

• missed payments

• bounced checks

• excess interest

• decreased credit rating - which will have big consequences for future loans and credit cards that you want to apply for

• stress caused by the debt that looms over your head

• other mistakes, which means more money out.

As time goes by and you experience that your debts are really being paid off, you'll see the light at the end of the tunnel; eliminating your debt will be an obtainable goal.

Terje Brooks Ellingsen is a writer and internet publisher. He runs the website 1st-In-Loan.net Terje gives advice and helps people with personal financial issues like consolidation loans anddebt consolidation

More Resources

Unable to open RSS Feed $XMLfilename with error HTTP ERROR: 404, exiting

More Debt Relief Information:

Related Articles

You Can Make Financial Resolutions Anytime
The New Year often brings with it a desire to right the wrongs in yourlife. From this desire springs the tradition of New Year resolutions.
5 Methods Toward Reducing Your Debt
Decreasing your debt is paramount to having a good credit rating as well as giving you peace of mind. You want to get out of debt, but not all debt reduction options may be beneficial.
The 5 Secrets to Getting Out of Debt Fast
As they stare down at a teetering pile of bills, so many consumers wonder how they racked up such a large debt. The answer boils down to simple mathematics.
Debt Elimination 2
The First Step To Debt EliminationRegardless of your personal and financial circumstances, your education and your background, the chances are the first step you need to take in debt elimination has to take place in your mind. The Western mindset, especially in the US and UK, is firmly fixed on consumer debt.
The Effects of Consumer Debt
Consumer BorrowingConsumer borrowing in the UK has now crashed through the £1 trillion barrier. 80% of this is due to credit card borrowing, loans and mortgages.
Use A Debt Checklist To Examine Where You Are
A Debt Checklist allows you to look at items and areas of your financial life. You need toexamine these to gauge how you stand.
Bankruptcy - The Easy Option?
Incredibly, since the changes in the bankruptcy law in April 2004, debtors are more likely to petition for their own bankruptcy rather than their creditors! You would think that most people who have been threatened with the prospect of being made Bankrupt would be riddled with fear of the possibility. It is more widely referred to as the "Big B" rather than the dreaded word itself.
Utah, the Nation's Bankruptcy Capital
Congress recently passed the Bankruptcy Abuse Prevention and Consumer Protection Act, designed to minimize frivolous bankruptcy filings and to require debtors to repay some of their debt. Once it takes effect in October, 2005, the law will make it harder for those with problem debt to have their debt wiped away by the courts.
Credit Repair - Understanding The Basics
What is Credit?Credit means that you are using someone else's money topay for things. It also means that you are making a promiseto repay the money to the person or company that loaned youthe money.
Top Ten Reasons People File for Bankruptcy
1. Eliminate the legal obligation to pay many of your debts.
Life on a Debt Management Program
Signing up for a debt management program is easy; it's a matter of finding a company you feel comfortable with that is difficult. There should be no pressure added from the company you speak with, joining a DMP is your decision and you should feel like you are in a partnership with the company, meaning you both have control over your financial situation.
Debt Collectors; And what you can do to Get Them Out of your Life
FTC opinion letter on validation Section 809(a) of the FDCPA, 15 U.S.
Learn The 15 Debt Elimination Steps You Must Take Immediately!
What Everybody Needs To Know..
IVA Information
If you're thinking about an IVA, it is essential to get the best information possible. This is because although an IVA can be a manageable way to resolve your debt problems, it can also represent a commitment of up to five years.
How to Choose a Debt Settlement Company
As consumer debt continues to spiral out of control, debt relief is fast becoming a major concern for many American's. In 1999, American's made $1.
Debt Handling Solutions
Sometimes debt can seem overwhelming. In those instances, or even before things get that far out of hand, get back to basics and try some of these debt handling solutions.
Benefits and Drawbacks of Bankruptcy
Outlined below are some of the benefits and drawbacks of bankruptcy. It should be noted that bankruptcy is not to be entered into without first having sought professional advice.
Getting Past The Idea Of Budgeting & Saving Money
I'm sure you'll agree that budgeting, saving money, and eliminating debt are very appealing ideas. If effectively tackled, these goals can secure your financial status for the future, and allow you to live a comfortable, debt-free life.
Personal Debt Reduction Practices
Personal debt reduction practices, the steps people take to relieve the debt in their lives and to become more financially free, are a hot topic among financial circles. American spending habits are producing more people who are deeper in debt rather than people trying to achieve financial freedom.
What You Should Know About Bankruptcy
Filing bankruptcy is not only a last resort legal action; it is also a very complicated legal action that definitely needs the expertise of a lawyer. When thinking about bankruptcy, you first need to decide if bankruptcy is right for you.