Tag Archive: Consolidation

Should I Consolidate Credit Card Debt, credit card consolidation.#Credit #card #consolidation

Should I Consolidate Credit Card Debt?

If you are struggling to pay off multiple credit cards, consolidating your debt may allow you to reduce your interest rates and lower your monthly payment. However, a lower monthly payment can mean a longer repayment term and more interest paid over the life of the loan. Whether you should consolidate your credit card debt depends on your individual circumstances and the terms of the consolidation.

Read on to learn more about whether credit card debt consolidation is right for you.

(To learn more about managing credit card debt, see out topic on getting out of credit card debt.)

What Is Credit Card Debt Consolidation?

Consolidating your credit card debt essentially means combining all of your debt into a single loan or paying your creditors through a single monthly payment. You can do this by taking out a consolidation loan or using a debt consolidation or management company.

How Does Credit Card Debt Consolidation Work?

When you obtain a debt consolidation loan, you pay off all of your outstanding credit cards with its proceeds. This means that instead of owing money on multiple credit cards, you now have a single obligation. The amount of your monthly payment will depend on the total amount, interest rate, and payment terms of your consolidation loan.

Should I Use a Debt Management Company to Help?

There are thousands of companies that claim they can help you consolidate or manage your credit card debt so that you pay less or reduce your payment.

Typically this is how these companies work: Instead of obtaining a new loan to pay off your credit cards, the debt management company tries to negotiate with the credit card companies to reduce your interest rates or otherwise lower your monthly payments. Each month, you make a single payment to the debt consolidation firm and it distributes a portion of your payment to each of your creditors. Usually, it also keeps a portion (or sometimes all) of your payment to cover its own fees.

While there are some legitimate companies that provide this service for a very low fee, many companies charge huge fees and do little on your behalf.

(You can learn more about debt management and debt negotiation companies in our Debt Settlement Negotiation topic area.)

Is Credit Card Debt Consolidation Right For You?

Below are some of the main factors you should consider when deciding whether consolidating your credit card debt is in your best interest.

Can You Afford to Pay Off Your Credit Cards?

Consolidating your credit card debt does not eliminate it. Even if the consolidation reduces your monthly payment, you still have to pay off all of your debt. So if you don t have regular income or can t afford your monthly payment, consolidating your credit card debt will not help you get back on track.

If you can t afford to pay off your credit cards, consider other alternatives such as debt negotiation (which can reduce the balance on your credit cards) or bankruptcy.

Will Consolidating Your Credit Card Debt Reduce Your Interest Rates?

One of the main benefits of consolidating your credit card debt is getting a reduced interest rate. Reducing your interest rate allows you to lower your monthly payment and pay off your debts sooner. As a result, if you can t lower your interest rates by consolidating your credit card debt, then it is probably not worth the extra cost and fees you will have to incur to do it.

Will It Take Longer to Pay Off Your Debt If You Consolidate?

By consolidating your credit card debt, sometimes you can significantly reduce your monthly payment. However, don t assume that your payment went down solely because of a lower interest rate. If your new monthly obligation is substantially lower, it usually means a longer repayment term.

If your repayment term is extended when you consolidate, it may take you significantly longer to pay off your credit card debt. While it may be nice to have a more manageable monthly payment, it also means paying more interest over the life of the loan. Review the terms of your consolidation carefully before deciding that it is the right choice for you.





Credit Card Consolidation, credit card consolidation.#Credit #card #consolidation

Credit card consolidation: Is it for you?

Although it sometimes feels like it, having credit card debt is not the end of the world. People who have a lot of credit card debt often consolidate their outstanding balances into a single, lower-interest loan to pay down their loans in less time. Credit card consolidation means that your debt across multiple credit cards is merged, giving you one monthly payment.

Credit card consolidation using a balance transfer

Using a balance transfer is one of the most common ways to consolidate credit card debt. This method requires you to open up a new credit card account to which you move your existing credit card balances. The new account might come with a lower interest rate, such as a promotional period with zero percent interest for up to 21 months.

The new credit card sets the limit for how much of the balance you can transfer to it, and the amount you qualify for depends on your credit score and income. Due to these limits, balance transfer cards are ideal if you have a smaller amount of debt. Before you apply for a balance transfer, however, you should be aware of what the new card’s annual percentage rate (APR) will be once the promotional rate ends. Most balance transfer credit cards charge a fee for transferring a balance from another credit card.

Consolidation using a personal loan

Taking out a personal loan is recommended for consolidating debts totaling over $15,000. Banks and other financial institutions offer personal loans to help people deal with outstanding credit card debt. The effectiveness of this method depends on the terms of the loan offer.

The benefit of this method is that it provides a higher credit line, sometimes $35,000. In addition, because these are not revolving loans, you don’t have to worry about credit utilization from this loan affecting your credit score. Just like credit cards, personal loans are typically given out based on your credit history and score. This means that the loan terms depend a lot on your credit history.

Some personal loans come with a prepayment fee, a charge for repaying the loan ahead of schedule. It’s also important to make sure you’re paying a lower interest rate than what you currently pay for your credit cards.

Consolidating with a home equity loan

Using a home equity loan to consolidate credit card debt is possible but not usually recommended. While you may be able to consolidate credit card debt at a lower interest if you borrow against the equity in your home, doing so could put you at risk. A home equity loan uses your house as collateral. If you fail to make payments, the bank can seize your house.

Besides being risky, a home equity loan comes with a lot of fees, which can increase the cost of the loan. These include things like home appraisal fees, annual fees, origination fees, and more.

Before you do anything …

Before getting a new loan or line of credit to consolidate debt, consult a nonprofit credit counselor. It’s also a good idea to ask your credit card issuer if it offers any hardship programs. If you are faced with extenuating circumstances, such as an illness or unemployment, some banks are willing to offer a special payment plan with a low interest rate.





Should I Consolidate Credit Card Debt, credit card consolidation.#Credit #card #consolidation

Should I Consolidate Credit Card Debt?

If you are struggling to pay off multiple credit cards, consolidating your debt may allow you to reduce your interest rates and lower your monthly payment. However, a lower monthly payment can mean a longer repayment term and more interest paid over the life of the loan. Whether you should consolidate your credit card debt depends on your individual circumstances and the terms of the consolidation.

Read on to learn more about whether credit card debt consolidation is right for you.

(To learn more about managing credit card debt, see out topic on getting out of credit card debt.)

What Is Credit Card Debt Consolidation?

Consolidating your credit card debt essentially means combining all of your debt into a single loan or paying your creditors through a single monthly payment. You can do this by taking out a consolidation loan or using a debt consolidation or management company.

How Does Credit Card Debt Consolidation Work?

When you obtain a debt consolidation loan, you pay off all of your outstanding credit cards with its proceeds. This means that instead of owing money on multiple credit cards, you now have a single obligation. The amount of your monthly payment will depend on the total amount, interest rate, and payment terms of your consolidation loan.

Should I Use a Debt Management Company to Help?

There are thousands of companies that claim they can help you consolidate or manage your credit card debt so that you pay less or reduce your payment.

Typically this is how these companies work: Instead of obtaining a new loan to pay off your credit cards, the debt management company tries to negotiate with the credit card companies to reduce your interest rates or otherwise lower your monthly payments. Each month, you make a single payment to the debt consolidation firm and it distributes a portion of your payment to each of your creditors. Usually, it also keeps a portion (or sometimes all) of your payment to cover its own fees.

While there are some legitimate companies that provide this service for a very low fee, many companies charge huge fees and do little on your behalf.

(You can learn more about debt management and debt negotiation companies in our Debt Settlement Negotiation topic area.)

Is Credit Card Debt Consolidation Right For You?

Below are some of the main factors you should consider when deciding whether consolidating your credit card debt is in your best interest.

Can You Afford to Pay Off Your Credit Cards?

Consolidating your credit card debt does not eliminate it. Even if the consolidation reduces your monthly payment, you still have to pay off all of your debt. So if you don t have regular income or can t afford your monthly payment, consolidating your credit card debt will not help you get back on track.

If you can t afford to pay off your credit cards, consider other alternatives such as debt negotiation (which can reduce the balance on your credit cards) or bankruptcy.

Will Consolidating Your Credit Card Debt Reduce Your Interest Rates?

One of the main benefits of consolidating your credit card debt is getting a reduced interest rate. Reducing your interest rate allows you to lower your monthly payment and pay off your debts sooner. As a result, if you can t lower your interest rates by consolidating your credit card debt, then it is probably not worth the extra cost and fees you will have to incur to do it.

Will It Take Longer to Pay Off Your Debt If You Consolidate?

By consolidating your credit card debt, sometimes you can significantly reduce your monthly payment. However, don t assume that your payment went down solely because of a lower interest rate. If your new monthly obligation is substantially lower, it usually means a longer repayment term.

If your repayment term is extended when you consolidate, it may take you significantly longer to pay off your credit card debt. While it may be nice to have a more manageable monthly payment, it also means paying more interest over the life of the loan. Review the terms of your consolidation carefully before deciding that it is the right choice for you.





Debt Counselling, SA, Counsellors, Consolidation, Management, Loans, Problems, Therapy, Bad Debts, Blacklisted, Free Credit Reports, Strand, Somerset West, Gordon s Bay, Cape Town, South Africa, debt consolidation loans for bad credit.#Debt #consolidation #loans #for #bad #credit

WELCOME TO THE WEBSITE OF DebtCounsellorsSA

DEBT COUNSELLING IS PRESCRIBED BY THE NATIONAL CREDIT ACT 34 OF 2005 AND

REGULATED BY THE NATIONAL CREDIT REGULATOR (NCR)

Complete the application form below, and return it as soon as possible, so we can do a FREE EVALUATION of your debt situation.

OR complete your contact details above, and we will contact you as soon as possible .

Debt counselling is FORCED ONTO CREDITORS by the National Credit Act, and they cannot refuse your application, if you make a reasonable offer, to repay your debt.

IS YOUR PERSEPTION THAT DEBT COUNSELLING IS EXPENSIVE?

Think again: Statistics show that

DEBT COUNSELLING IS THE CHEAPEST WAY OF DEBT COLLECTION IN SA!

*Statistics provided in the December 2014 DCASA (Debt Counsellors Association of SA) Newsletter

Debt Counselling Fees, as a percentage of repayments, amounts to 4.56%.

� With Legal Fees, the cost to Consumers increases to 7.42% of repayments.

Normal Credit Provider Collection Costs range from 17% to 23%.

� The Cost of Debt Counselling is however Reduced by the Negotiated Industry Concessions,

which is part of theTask Team Agreement.

� In terms of this agreement Credit Providers agreed to:

o Reduce Fees to zero and to

o Reduce Interest rates to zero% on unsecured and

o Repo + 2% on secured debt (now 7.75%)

� A full reduction, according to these concessions, would Reduce Payments by 39%.

� In cases where interest is reduced (say from 31% TO 28%) this reduction

fully covers the debt counselling fees (3% reduction covers ALL fees!).

– BUT remember, debt does not make you a �bad� person in any way, just unfortunate.

� We have clients under debt counselling, over the total spectrum of life � from rich to poor – cleaners to doctors, advocates and people you would never suspect having financial difficulty.

� Creditors use the law, to retrieve their money. The National Credit Act states that after only 20 days in default of your accounts, and creditors can start with legal action.

� Use the same Credit Act against your creditors, to repay your debt, according to what you can AFFORD. Debt counselling is FORCED ONTO CREDITORS by the Credit Act, and they cannot refuse your application, if you make a reasonable offer, to repay your debt.

Since very early times, there is reference to poor and over-indebted people, which has not changed over the centuries. Every era and culture had their own way of dealing with debt � just look at these two examples:

o Debtors and creditors are mentioned even in the Bible! The difference however, was that creditors were much more lenient towards debtors during Biblical times. In Exodus 22:25 [God says] �If you lend money to any of my people with you, who is poor, you shall not exact interest from him; If ever you take your neighbor�s garment in pledge, you shall restore it to him before the sun goes down.

o The Roman Law provided that a debtor, who failed to make good payments to his creditors, could be �in parti secant� (his flesh could be cut!), or sold into slavery.

o Sections 65A to 65M of the South African Magistrates’ Courts Act provided for the imprisonment of judgment debtors in certain circumstances, until it was found in 1995 by the Constitutional Court to be inconsistent with the right to personal freedom provided for in section 11(1) in Chapter 3 of the Interim Constitution.

FORTUNATELY YOU NOW HAVE THE NATIONAL CREDIT ACT TO PROTECT YOU

o According to statistics recently released by the NCR, the number of consumers with impaired records in SA keep to rise. According to the report, consumers with impaired credit records increased by 119 000 in the last quarter, to 9.5 MILLION � which is a dramatic jump.

o About 15 000 consumers apply new for debt counselling every month.

BY READING HERE, YOU NOW HAVE TAKEN THE FIRST STEP TO DEAL WITH YOUR DEBT � AND THIS IS TO

ADMIT YOU HAVE A DEBT PROBLEM, SO NOW YOU NEED TO ASK US TO HELP YOU

Nobody outside debt counselling ever needs to know you have applied for debt counselling � everything is very confidential � no salary deductions.

� Debt counselling fees are prescribed by the NCR, and debt counsellors cannot receive more than these fees.

� A debt counsellor is not allowed to receive your monthly payments, and distribute it to your creditors.

� Our debt counsellors are well trained, have an excellent reputation, and are consumer activists..

One of our clients recently said: �You changed our lives 120%�!

FREE EVALUATION of your debt situation .

Court rulings are heavily skewed in favour of creditors, where consumers cannot repay their debt. Millions of summonses, judgements, sales in executions and salary attachment orders are issued every year.

Apply for debt counselling today, before you become one of these statistics.

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Loans for People with Bad Credit, debt consolidation loans bad credit.#Debt #consolidation #loans #bad #credit

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Debt consolidation loans bad credit

Loans for People with Bad Credit? No Problem! Bad Credit Loans Up to R150 000

Sick and tired of hearing NO. We say YES!

We specialize in loans for people with bad credit and we can help any financial problem you might have. It does not matter whether you have been blacklisted, are behind (in arrears) on your accounts or have a poor credit record.

Having a bad credit record can be frustrating and trying to get a personal loan from your bank can be a nightmare when you have a poor credit record.

If you re drowning in a sea of debt it can cause a lot of stress if nobody wants to help you with a personal loan. In fact when you re desperate for a personal loan it can be devastating being rejected by lenders who s not prepared to offer any financial assistance.

This is what makes bad credit loans (blacklisted loans) so great, because it was designed for people who have been rejected by lenders that have strict credit requirements. We have lenders who specialize in personal loans for people with bad credit.

Personal Loans For People With Bad Credit Up To R150,000

With a unsecured bad credit loan you do not need any security to qualify for a home loan. In other words lenders will ask you to pledge collateral such as a house for example to get a loan.

Blacklisted loans are ideal for non-home owners who do not own property. Not to say that if you re a homeowner you cannot apply for a bad credit loan, but if you want to borrow in excess of R150,000 then you need to apply for a home loan for people with bad credit.

To apply for a blacklisted loan simple complete the form above or click on the link below

The doors of financial help are not entirely closed for South Africans with a bad credit history. It is very reassuring to know that there are people who want to help you with a personal loan.

It does not matter what you do with your loan, but it is a good idea to settle your debt as soon as possible. By consolidating your debt it can help with your credit record. If you reduce your debt you can start to improve your credit record.

Who Can Qualify For A Bad Credit Loan?

Loans for people with bad credit are intended for people as the name would suggest are blacklisted, have garnishees on their payslip OR someone who does not have enough security to apply for a personal loan.

However, if you have been placed under debt counselling/administration you re not allowed to apply for loan.

How To Qualify For A Bad Credit Loan?

Here are the requirements to qualify:

– You must earn at least R1,500 pm

– You must have proof of income

– You must have a valid ID document

– You must have a valid bank account from a SA bank

– You must be permanently employed.

Click Here – Loans For People With Bad Credit

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AAA Debt Managers: Personal Debt Consolidation – Credit Counseling in Canada, credit consolidation.#Credit #consolidation

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CONSOLIDATE DEBT PROGRAM

Nobody needs constant calls from creditors and sleepless nights. So you’ll be glad to know one call to one of our licensed professionals you’ll see how you can become debt free, and worry free.

Credit consolidation

HOW WE HELP Our Services

With 20 years of proven Debt Management Programs and great service options we’ll help you pay down your debt and restore your credit and show you how we “manage your debt so you can manage your life”

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GET OUT OF DEBT STARTS HERE

We’ve helped thousands of Canadians get out of debt in less time and for less money. We know what it takes to build a program that works. Start here to find out if you qualify. Call 1-800-774-5779 or chat online.

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GET OUT OF DEBT How it works*

Depending on your particular situation, Debt Management can be a great option for debt relief as it doesn’t require a loan and you can drastically lower your monthly payments, lower interest rates, and pay it off quicker than if you tried on your own.

Debt Management is a consumer relief program whereby we arrange with your creditors to substantially reduce your interest rates and monthly payments on unsecured debt (such as credit cards), allowing you to avoid bankruptcy and the adverse effects it can bring to your credit rating. Debt Management can reduce your total debt owed including interest by as much as 60%, while lowering your monthly payments during the process.

Is Debt Management right for you?

Debt Management is suitable for unsecured debts, such as credit cards bills. It does not apply to secured debt (like a mortgage) because if you default on the loan, creditors will be able to get their money back from the sale of your assets. Debt Management is right for indviduals or familites who:

  • CANNOT MEET THEIR MONTHLY MINIMUM PAYMENTS FOR UNSECURED DEBT OF $10K OR MORE
  • PREFER TO AVOID BANKRUPTCY AND THE STIGMA THAT COMES WITH IT
  • HAVE AVAILABLE CASH OR STEADY MONTHLY INCOME TO AFFORD A REPAYMENT SCHEDULE
  • WOULD LIKE TO RELIEVE STRESS, STOP COLLECTION AGENCY CALLS AND REDUCE DEBT
  • WOULD LIKE TO REBUILD THEIR CREDIT AND TAKE CONTROL OF THEIR FINANCES

Find Out If You Qualify. Call 1-800-774-5779

DebtManagers acts as a mediator between you and your creditors, negotiating a new repayment schedule on your behalf, reducing interest rates and monthly payments by up to 60%. For nearly 20 years we have assisted thousands of Canadians Coast-to-Coast in eliminating consumer debt and rebuilding credit.

As you can imagine, each debtor’s situtation is unique, so the only way to determine if you qualify for this debt management program is to schedule a debt assessment with one of our experienced debt advisors. To find out if you qualify call 1-800-774-5779 or fill out the form above for a free, no-obligation and confidential debt assessment.

THE DM DIFFERENCE

  • Credit consolidation

Stop Creditor Calls

Our relationship with creditors means we can silence collection agency calls.

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    Make One Payment

    We’ll consolidate your debt into one monthly payment based on what you can afford.

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    Balanced Budget

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    Eliminate Interest

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  • Credit Card Debt Calculator, Debt Consolidation, credit card debt consolidation.#Credit #card #debt #consolidation

    Credit card debts

    Personal credit cards provide a convenient and widely accepted way to pay for general and household expenses. Some of their features, however, may lead you into debt, particularly when your income is reduced and you are adjusting to changed financial circumstances.

    Many people may think of getting a second credit card when they are struggling to make payments on the first. This is a serious debt trap. If you use one card to make payments on another or to keep making purchases beyond your means, your debt will spiral out of control.

    You should contact your bank or financial institution to ask for assistance with managing your credit card debt. Available options include requesting a lower credit limit or cancelling the card. Ultimately, though, you need to take control of your spending and avoid using your credit card to buy goods and services that you simply cannot afford.

    Please note the information on this page applies only to credit cards for personal expenses, not business or investment.

    When you can’t pay off your credit card each month

    Credit cards allow you to spend money you don’t necessarily have, and in this way are very dangerous for people with limited income.

    Credit card interest is usually the second highest rate of interest for any type of loan after payday, or short term, loans. The only way to avoid the high interest is to stop using your credit card for cash advances and to pay the whole balance within the interest-free period.

    If you have a credit card and only pay the minimum monthly payment you’ll end up in debt. By paying just the minimum payment, $1000 on your credit card can become an 11 year loan, even with no extra purchases.

    When you can’t pay your minimum monthly payment

    A credit card calculator can help you check how long it will take you to pay off credit card debt under a number of scenarios.

    By law, your credit card statement will have a warning and show you how much you ll pay if you only make minimum repayments.

    If you don’t pay the minimum monthly repayment, you’ll have to pay extra interest and usually a late payment fee as well. This will be so even if you don’t use the card for new purchases. A late payment fee may also be added for payments after the due date.

    Flexible payment arrangements for credit cards

    As with all credit for personal or household purposes covered under consumer credit law and the Code of Banking Practice, your bank or financial institution is required to consider requests for flexible payment arrangements if you are experiencing financial hardship.

    If you can’t afford the minimum monthly payment, or you simply want to tackle your overall credit card debt, you need to contact the hardship area of your lender, explain that you’re experiencing financial hardship, and ask if they will vary the terms of your credit card contract. If you cancel your card, you can try to negotiate for no interest to be charged on the debt, or at least an interest rate much lower than your usual credit card rate.

    Because of the complex nature of credit card debt and the high levels of interest and charges, you should seek help when managing your credit card debt before it becomes an ongoing problem.

    Understand your rights and options

    Find out more about:

    • your rights for negotiating changed payment arrangements for credit card debt, including how to proceed if your lender refuses your proposal.
    • the range of options available for dealing with your credit card debt.
    • debt collection procedures for when you don’t pay your credit card debt.

    If your credit card provider is threatening or has commenced court proceedings against you, you should seek legal advice urgently. Consumer Action Law Centre provides specialist legal advice on credit and debt matters. You should also immediately lodge a complaint with the relevant EDR scheme about any concerns you have including your financial hardship. Your credit card provider is then required to halt the court proceedings to see if the matter can be resolved by the EDR scheme.

    Keep a record of all details of your contact with your lender, including the date and time of any calls, and the name of the person you spoke to.

    How to avoid credit card debt

    In a time of financial hardship you need to act quickly to bring your credit card spending under control and avoid extra interest and charges. You can do this if you:

    • make your purchases using cash or a debit card if possible. Avoid using your credit card unless you can pay off the balance in full in the interest-free period.
    • if you can, pay the whole balance on the card within the interest-free period to avoid high interest charges. Purchases with your card will end up costing a lot more if you don’t keep up with your payments.
    • don’t exceed the limit unless you expect to be able to pay it off in the short-term. When your income is reduced, there is a risk you’ll exceed your credit card limit if you continue using your card. Don’t get a second credit card believing that will solve your problems. Unless you can definitely pay the card off in the short-term, another card will make your debt problem worse rather than fixing it.
    • avoid using your credit card for cash advances, as interest charges usually apply immediately.
    • consider cancelling any direct debits you have to get more control over what you pay and when. Make sure though that you are not breaching contractual obligations. Seek legal advice from Consumer Action Law Centre if in doubt.

    The cost of credit card debt

    If you only pay the minimum monthly payment off your credit card balance, you may be reducing your debt by much less than you think.

    The following examples are based on a scenario where:

    • you have a typical credit card; and
    • you don’t use the card for new purchases; and
    • minimum payment is set at the lesser of 2.5% or $10; and
    • interest will be charged from the date of purchase (unless you pay it off each month); and
    • interest will be charged at approximately 16% per year.

    How $1,000 turns into an 11 year loan

    Suppose you spend $1,000, and make minimum repayments. You now have a debt on which you must pay interest. Of your first 2.5% minimum payment:

    • about $13 pays interest; and
    • just $12 comes off the debt.

    By just paying the minimum balance, you will take more than 11 years to pay off that $1,000 debt. In that time, you will pay about $860 in interest.

    How $10,000 turns into a 27-year loan

    Imagine now that you spend $10,000, and make only minimum repayments. As the debt gets bigger, minimum payments do an even worse job of getting rid of your debt. Of your first 2.5% minimum payment:

    • about $133 dollars pays interest; and
    • just $115 comes off the debt.

    Minimum repayments now take more than 27 years to pay off your debt, costing you about $11,000 in interest.

    Case study

    Stephen was an IT professional who was retrenched at the age of 55 after working with the same company for 25 years. His wife, Marcia, had left her job in administration at a hospital four years earlier following an illness that still affected her. Stephen and Marcia’s three children all still lived at home. The eldest was at university, the middle one was working in retail at a music store, and the youngest was in Year 11 at secondary school.

    Stephen and Marcia had a large mortgage. Stephen intended to get another job following a six week family break, but when they got back home, finding a new job was more challenging than Stephen anticipated. He also felt that he was being overlooked for the few positions available in favour of younger, more confident candidates.

    Stephen and Marcia started to use their credit cards for most of their purchases. Their previous “good credit rating” from the past provided them with access to new lines of credit with very few questions asked. Their credit card debts and associated interest began to build up to a massive level.

    They knew what was happening but put off doing anything about it, hoping Stephen would find a new job, and could pay out the growing debts.

    He contacted a financial counsellor who prepared a current financial statement that revealed that Stephen and Marcia had purchased some shares.

    The financial counsellor encouraged Marcia and Stephen to sell the shares and pay the proceeds off the credit card debt. He also helped them to work out a plan to reduce their credit card debt by paying the card with the highest interest rate first, and cancelling all but one credit card that was only to be used in the case of emergencies.

    After several months, Stephen managed to get a job, albeit a low paid one compared with what he had been used to. The income was enough for Stephen and Marcia to cover day-to-day expenses and work out payment plans with their creditors.





    Christian Credit Counseling, Debt Consolidation, Credit Counselors, credit card debt consolidation.#Credit #card #debt #consolidation

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    Providing trusted Christian Credit Counseling since 1990

    Christian Credit Counselors has helped over 300,000 people get out of debt over the last 20 years. Christian Credit Counselors is a non-profit organization that was created to help individuals and families regain control of their finances through the use of educational tools, credit counseling, debt management, and other resources. Our Certified Credit Counselors provide superior services to both our clients and their creditors.

    Are your interest rates too high?

    Need help creating and maintaining a budget?

    Apply Now to let one of our Christian Credit Counselors see what option is best suited to meet your individual needs, goals and circumstances. With a FREE consultation, they will help develop a personal plan and strategy to help you get to your goals and dreams!

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    Bad Credit Loans – HIGHEST APPROVAL – Personal Loans Online, consolidation loans with bad credit.#Consolidation #loans #with #bad #credit

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    At Bad Credit Loan Center ™ we believe in second chances. We know that good people do fall on hard times and in this economy it s not easy to find help.

    Our goal is to make your process of finding online loans as stress free and easy as possible. Whether you re looking for a cash loan, an auto loan, debt consolidation or credit cards we can help.

    It takes less than 3 minutes to complete an application and usually with in a couple hours a lender will contact you if you re approved. It doesn t matter if you re looking for bad credit loans or good credit loans we can help you find a lender. Bad Credit Loan Center ™ provides a payday loan matching service only and is not a lender.

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    If you re looking for an auto loan, debt consolidation, bad credit personal loans or credit cards please use the navigation bar at the top of this page. For more information about us or loans for bad credit please visit the about link in the footer of this page.

    Bad credit loans should be used responsibly. You will be required to repay your loan on time to avoid extra interest or fees. Personal loans for people with bad credit that offer monthly payments may be available please consult your lender.

    Loans are not available in all states even if you apply on the internet. All short term lenders have the right to run your credit if they deem it necessary.

    Consolidation loans with bad credit

    3 Simple Steps to Obtain Your Loan

    Consolidation loans with bad creditPre Qualify: To pre-qualify for payday loans online you must have income of $1000 dollars per month and be at least 18 years old. Your income can come from a job, benefits, disability or anything along those lines.

    Consolidation loans with bad creditComplete the Application: We utilize a short and easy fast loan advance application. It only takes a couple minutes to complete! It doesn t get any easier than this to get up to $1000 dollars today.

    Consolidation loans with bad creditGet Your Cash: Once a lender match is found and you re approved your payday loans will be deposited the same business day if time permits. It usually only takes a few hours from application to cash in hand!





    Bad credit debt consolidation loans, bad credit debt consolidation loans.#Bad #credit #debt #consolidation #loans

    Welcome to LendersMark

    This resource provides information about personal lending and steps to debt reduction. We feature a unique selection of loan calculators, each with a pdf view-and-print capability so you can print your amortization table.

    There are a variety of deferred payment programs available, and we have built this site to show you some of them as well as provide tools to help you anticipate accumulated interest and payoff.

    An unsecured loan can be the best borrowing choice in a variety of circumstances. They generally require no collateral and only your signature as a promise to repay the loan. When obtained from a bank, which is the norm for larger amounts, the interest rates tend to be significantly lower than those of credit cards, making a personal loan a good option for certain purchases or projects. The rates and terms of a loan will normally be determined by your credit history. The exception being payday loans, which are cash advances that range up to $1500 and are typically granted with no credit check. While they tend to be more accessible to people with bad credit, they are also much more expensive than other types of loans.

    Debt Elimination options are available to help you pay off bills and get out of debt quickly. Quality credit counseling and debt settlement are available to you in addition to traditional debt consolidation loans. Taking the time to learn how to manage debt successfully can have a positive effect on both your present and your future financial security and well being. Make some credit card payoff calculations. Set a goal and work toward it.

    Home Loans are available for a broad range of credit conditions. If you are considering a new home loan, whatever your credit rating, you must be an informed consumer. Take time to carefully research the options available to you. When shopping for a loan, be sure to compare the terms, conditions, and interest rates of all potential lenders. This is particularly important for those with bad credit to remember; don’t rush into a loan agreement out of desperation. Talk to multiple lenders and carefully consider your offers.

    Refinancing your mortgage can be a financially advantageous move, particularly for those who would like to convert an ARM to a fixed interest rate. Many people save a significant amount of money by refinancing to a lower rate. If you have equity, you can get cash to pay off other debt. While this does have advantages, it is important to remember that the pledged property is in jeopardy if the repayment schedule is not met. If you are considering a refinance, be sure to calculate all associated costs with getting the new loan to ensure that it is the right option for you. Equity can be an excellent source of money for home improvements, college costs, or debt elimination. Generally speaking, you can borrow about 80 percent of the equity in your home. As with any borrowing opportunity, do your homework and become an informed consumer capable of making the right choice for your financial well-being.





    Non Profit Debt Consolidation – Counseling Services, CreditGUARD, credit consolidation services.#Credit #consolidation #services

    Credit and Debt Counseling Agency

    CreditGuard of America, Inc. is an independent, nonprofit credit counseling agency that is committed to providing innovative solutions for simple to complicated debt issues. We will help you get out of the debt through our best credit counseling. CreditGuard provides credit counseling and debt management along with free financial education to consumers throughout the United States, using state-of-the-art technology and superior customer service.

    Certified Credit Counselors – Free Consultation

    Our credit counselors are certified and trained to deal with both secured and unsecured debts. The counselors will evaluate your needs and your expenses and custom design a plan that will allow you to make an affordable debt payment within your budget that gets you out of debt faster than you ever thought possible. Your debt management plan will get you debt free and keep you debt free! Then we provide a tailored, written debt consolidation plan based upon the debt counseling that considers affordability and reliability of the debt program, as the main priority.

    Credible Debt Counseling – Confidential Easy

    CreditGuard of America provides a variety of online credit counseling and debt management tools to assist consumers with their debt problems. Our credit counseling agency gives advice on personal budgeting, debt consolidation through debt management programs as well as home equity loans, credit cards promos, and filing for bankruptcy. Thousands of consumers have been able to get back-on-track using our debt counseling and debt solutions that helped them in managing their bills and credit card debt.

    Whatever your credit problems are, CreditGuard of America, Inc., a credible credit counseling agency, is there to help you. Contact us online by filling out the contact form above or call CreditGuard of America, Inc. at 1-800-500-6489 to find out more about our online debt consolidation and credit counseling programs!

    Free Financial Education – Get Out of Debt and Stay Out of Debt

    CreditGuard of America, Inc. is dedicated to educating consumers on financial literacy. Through financial education, our non profit credit counseling agency hopes to prevent the consumers from falling into the “debt trap” and help those already in trouble. Our online education resources provide comprehensive information regarding the effects of best credit counseling over debt collection and money management.

    Our Credit Management Series helps consumers in understanding how their credit works. Our Debt Collection Series examines the consumer credit rights and the credit laws that protect them. Our Money Management Series gives practical advice on money matters.

    Contact us online by filling out the form above, or Call CreditGuard of America at 1-800-500-6489 for more information on our non-profit credit counseling and debt counseling agency. Certified Credit Counselors are available Monday – Thursday 8:00 am – 10:00 pm Eastern, Friday 8:00 am – 9:00 pm Eastern, Saturday 10:00 am – 6:00 pm Eastern. For online service, 24/7, use the Credit Card Debt Analyzer to calculate your estimated interest and payment savings available, through our debt management program.





    Credit card consolidation loan, credit card consolidation loan.#Credit #card #consolidation #loan

    Welcome to LendersMark

    This resource provides information about personal lending and steps to debt reduction. We feature a unique selection of loan calculators, each with a pdf view-and-print capability so you can print your amortization table.

    There are a variety of deferred payment programs available, and we have built this site to show you some of them as well as provide tools to help you anticipate accumulated interest and payoff.

    An unsecured loan can be the best borrowing choice in a variety of circumstances. They generally require no collateral and only your signature as a promise to repay the loan. When obtained from a bank, which is the norm for larger amounts, the interest rates tend to be significantly lower than those of credit cards, making a personal loan a good option for certain purchases or projects. The rates and terms of a loan will normally be determined by your credit history. The exception being payday loans, which are cash advances that range up to $1500 and are typically granted with no credit check. While they tend to be more accessible to people with bad credit, they are also much more expensive than other types of loans.

    Debt Elimination options are available to help you pay off bills and get out of debt quickly. Quality credit counseling and debt settlement are available to you in addition to traditional debt consolidation loans. Taking the time to learn how to manage debt successfully can have a positive effect on both your present and your future financial security and well being. Make some credit card payoff calculations. Set a goal and work toward it.

    Home Loans are available for a broad range of credit conditions. If you are considering a new home loan, whatever your credit rating, you must be an informed consumer. Take time to carefully research the options available to you. When shopping for a loan, be sure to compare the terms, conditions, and interest rates of all potential lenders. This is particularly important for those with bad credit to remember; don’t rush into a loan agreement out of desperation. Talk to multiple lenders and carefully consider your offers.

    Refinancing your mortgage can be a financially advantageous move, particularly for those who would like to convert an ARM to a fixed interest rate. Many people save a significant amount of money by refinancing to a lower rate. If you have equity, you can get cash to pay off other debt. While this does have advantages, it is important to remember that the pledged property is in jeopardy if the repayment schedule is not met. If you are considering a refinance, be sure to calculate all associated costs with getting the new loan to ensure that it is the right option for you. Equity can be an excellent source of money for home improvements, college costs, or debt elimination. Generally speaking, you can borrow about 80 percent of the equity in your home. As with any borrowing opportunity, do your homework and become an informed consumer capable of making the right choice for your financial well-being.





    Credit Card Debt Calculator, Debt Consolidation, credit card debt consolidation.#Credit #card #debt #consolidation

    Credit card debts

    Personal credit cards provide a convenient and widely accepted way to pay for general and household expenses. Some of their features, however, may lead you into debt, particularly when your income is reduced and you are adjusting to changed financial circumstances.

    Many people may think of getting a second credit card when they are struggling to make payments on the first. This is a serious debt trap. If you use one card to make payments on another or to keep making purchases beyond your means, your debt will spiral out of control.

    You should contact your bank or financial institution to ask for assistance with managing your credit card debt. Available options include requesting a lower credit limit or cancelling the card. Ultimately, though, you need to take control of your spending and avoid using your credit card to buy goods and services that you simply cannot afford.

    Please note the information on this page applies only to credit cards for personal expenses, not business or investment.

    When you can’t pay off your credit card each month

    Credit cards allow you to spend money you don’t necessarily have, and in this way are very dangerous for people with limited income.

    Credit card interest is usually the second highest rate of interest for any type of loan after payday, or short term, loans. The only way to avoid the high interest is to stop using your credit card for cash advances and to pay the whole balance within the interest-free period.

    If you have a credit card and only pay the minimum monthly payment you’ll end up in debt. By paying just the minimum payment, $1000 on your credit card can become an 11 year loan, even with no extra purchases.

    When you can’t pay your minimum monthly payment

    A credit card calculator can help you check how long it will take you to pay off credit card debt under a number of scenarios.

    By law, your credit card statement will have a warning and show you how much you ll pay if you only make minimum repayments.

    If you don’t pay the minimum monthly repayment, you’ll have to pay extra interest and usually a late payment fee as well. This will be so even if you don’t use the card for new purchases. A late payment fee may also be added for payments after the due date.

    Flexible payment arrangements for credit cards

    As with all credit for personal or household purposes covered under consumer credit law and the Code of Banking Practice, your bank or financial institution is required to consider requests for flexible payment arrangements if you are experiencing financial hardship.

    If you can’t afford the minimum monthly payment, or you simply want to tackle your overall credit card debt, you need to contact the hardship area of your lender, explain that you’re experiencing financial hardship, and ask if they will vary the terms of your credit card contract. If you cancel your card, you can try to negotiate for no interest to be charged on the debt, or at least an interest rate much lower than your usual credit card rate.

    Because of the complex nature of credit card debt and the high levels of interest and charges, you should seek help when managing your credit card debt before it becomes an ongoing problem.

    Understand your rights and options

    Find out more about:

    • your rights for negotiating changed payment arrangements for credit card debt, including how to proceed if your lender refuses your proposal.
    • the range of options available for dealing with your credit card debt.
    • debt collection procedures for when you don’t pay your credit card debt.

    If your credit card provider is threatening or has commenced court proceedings against you, you should seek legal advice urgently. Consumer Action Law Centre provides specialist legal advice on credit and debt matters. You should also immediately lodge a complaint with the relevant EDR scheme about any concerns you have including your financial hardship. Your credit card provider is then required to halt the court proceedings to see if the matter can be resolved by the EDR scheme.

    Keep a record of all details of your contact with your lender, including the date and time of any calls, and the name of the person you spoke to.

    How to avoid credit card debt

    In a time of financial hardship you need to act quickly to bring your credit card spending under control and avoid extra interest and charges. You can do this if you:

    • make your purchases using cash or a debit card if possible. Avoid using your credit card unless you can pay off the balance in full in the interest-free period.
    • if you can, pay the whole balance on the card within the interest-free period to avoid high interest charges. Purchases with your card will end up costing a lot more if you don’t keep up with your payments.
    • don’t exceed the limit unless you expect to be able to pay it off in the short-term. When your income is reduced, there is a risk you’ll exceed your credit card limit if you continue using your card. Don’t get a second credit card believing that will solve your problems. Unless you can definitely pay the card off in the short-term, another card will make your debt problem worse rather than fixing it.
    • avoid using your credit card for cash advances, as interest charges usually apply immediately.
    • consider cancelling any direct debits you have to get more control over what you pay and when. Make sure though that you are not breaching contractual obligations. Seek legal advice from Consumer Action Law Centre if in doubt.

    The cost of credit card debt

    If you only pay the minimum monthly payment off your credit card balance, you may be reducing your debt by much less than you think.

    The following examples are based on a scenario where:

    • you have a typical credit card; and
    • you don’t use the card for new purchases; and
    • minimum payment is set at the lesser of 2.5% or $10; and
    • interest will be charged from the date of purchase (unless you pay it off each month); and
    • interest will be charged at approximately 16% per year.

    How $1,000 turns into an 11 year loan

    Suppose you spend $1,000, and make minimum repayments. You now have a debt on which you must pay interest. Of your first 2.5% minimum payment:

    • about $13 pays interest; and
    • just $12 comes off the debt.

    By just paying the minimum balance, you will take more than 11 years to pay off that $1,000 debt. In that time, you will pay about $860 in interest.

    How $10,000 turns into a 27-year loan

    Imagine now that you spend $10,000, and make only minimum repayments. As the debt gets bigger, minimum payments do an even worse job of getting rid of your debt. Of your first 2.5% minimum payment:

    • about $133 dollars pays interest; and
    • just $115 comes off the debt.

    Minimum repayments now take more than 27 years to pay off your debt, costing you about $11,000 in interest.

    Case study

    Stephen was an IT professional who was retrenched at the age of 55 after working with the same company for 25 years. His wife, Marcia, had left her job in administration at a hospital four years earlier following an illness that still affected her. Stephen and Marcia’s three children all still lived at home. The eldest was at university, the middle one was working in retail at a music store, and the youngest was in Year 11 at secondary school.

    Stephen and Marcia had a large mortgage. Stephen intended to get another job following a six week family break, but when they got back home, finding a new job was more challenging than Stephen anticipated. He also felt that he was being overlooked for the few positions available in favour of younger, more confident candidates.

    Stephen and Marcia started to use their credit cards for most of their purchases. Their previous “good credit rating” from the past provided them with access to new lines of credit with very few questions asked. Their credit card debts and associated interest began to build up to a massive level.

    They knew what was happening but put off doing anything about it, hoping Stephen would find a new job, and could pay out the growing debts.

    He contacted a financial counsellor who prepared a current financial statement that revealed that Stephen and Marcia had purchased some shares.

    The financial counsellor encouraged Marcia and Stephen to sell the shares and pay the proceeds off the credit card debt. He also helped them to work out a plan to reduce their credit card debt by paying the card with the highest interest rate first, and cancelling all but one credit card that was only to be used in the case of emergencies.

    After several months, Stephen managed to get a job, albeit a low paid one compared with what he had been used to. The income was enough for Stephen and Marcia to cover day-to-day expenses and work out payment plans with their creditors.





    CREDIT CARDS and LOANS for BAD CREDIT, consolidation loans with bad credit.#Consolidation #loans #with #bad #credit

    Loans and Credit Cards for Bad Credit

    Welcome! Since 2005, we have been dedicated to helping those with a bad credit rating rebuild their credit. We provide you with the knowledge and resources necessary for you to find the best loans and credit cards for bad credit, regardless if you have a poor credit score or past credit problems. We continously update our offers to bring you the best bad credit offers available.

    If you are looking for the right offer to fit your financial needs or repair bad credit, please begin by choosing a category of offers below:

    Compare the top 10 credit cards for those with bad credit and apply online instantly.

    Compare auto lenders that approve people with a poor credit score.

    Review the best services for debt relief and debt consolidation loans.

    Need a cash loan to pay bills, take a vacation, or start a business? Apply now.

    Compare options to repair your bad credit history and improve your rating.

    Get a new home loan now at a great rate regardless of your past credit history.

    Tips and Advice

    ► 5 Steps to Rebuilding Bad Credit

    Consolidation loans with bad credit

    ► Credit Crunch Shrinking Size of Personal Loans

    Consolidation loans with bad credit

    ► Inside the Brain of an Auto Lender

    Consolidation loans with bad credit

    ► Filing for Bankruptcy: Chapter 7 vs. Chapter 13

    Consolidation loans with bad credit

    ► Which Type of Home Loan is Right for You?

    Consolidation loans with bad credit

    ► Too Much Debt? How to Break the Debt Cycle

    Consolidation loans with bad credit





    Consolidation loans for credit cards, consolidation loans for credit cards.#Consolidation #loans #for #credit #cards

    Welcome to LendersMark

    This resource provides information about personal lending and steps to debt reduction. We feature a unique selection of loan calculators, each with a pdf view-and-print capability so you can print your amortization table.

    There are a variety of deferred payment programs available, and we have built this site to show you some of them as well as provide tools to help you anticipate accumulated interest and payoff.

    An unsecured loan can be the best borrowing choice in a variety of circumstances. They generally require no collateral and only your signature as a promise to repay the loan. When obtained from a bank, which is the norm for larger amounts, the interest rates tend to be significantly lower than those of credit cards, making a personal loan a good option for certain purchases or projects. The rates and terms of a loan will normally be determined by your credit history. The exception being payday loans, which are cash advances that range up to $1500 and are typically granted with no credit check. While they tend to be more accessible to people with bad credit, they are also much more expensive than other types of loans.

    Debt Elimination options are available to help you pay off bills and get out of debt quickly. Quality credit counseling and debt settlement are available to you in addition to traditional debt consolidation loans. Taking the time to learn how to manage debt successfully can have a positive effect on both your present and your future financial security and well being. Make some credit card payoff calculations. Set a goal and work toward it.

    Home Loans are available for a broad range of credit conditions. If you are considering a new home loan, whatever your credit rating, you must be an informed consumer. Take time to carefully research the options available to you. When shopping for a loan, be sure to compare the terms, conditions, and interest rates of all potential lenders. This is particularly important for those with bad credit to remember; don’t rush into a loan agreement out of desperation. Talk to multiple lenders and carefully consider your offers.

    Refinancing your mortgage can be a financially advantageous move, particularly for those who would like to convert an ARM to a fixed interest rate. Many people save a significant amount of money by refinancing to a lower rate. If you have equity, you can get cash to pay off other debt. While this does have advantages, it is important to remember that the pledged property is in jeopardy if the repayment schedule is not met. If you are considering a refinance, be sure to calculate all associated costs with getting the new loan to ensure that it is the right option for you. Equity can be an excellent source of money for home improvements, college costs, or debt elimination. Generally speaking, you can borrow about 80 percent of the equity in your home. As with any borrowing opportunity, do your homework and become an informed consumer capable of making the right choice for your financial well-being.





    Credit Card Consolidation, credit card consolidation.#Credit #card #consolidation

    Credit card consolidation: Is it for you?

    Although it sometimes feels like it, having credit card debt is not the end of the world. People who have a lot of credit card debt often consolidate their outstanding balances into a single, lower-interest loan to pay down their loans in less time. Credit card consolidation means that your debt across multiple credit cards is merged, giving you one monthly payment.

    Credit card consolidation using a balance transfer

    Using a balance transfer is one of the most common ways to consolidate credit card debt. This method requires you to open up a new credit card account to which you move your existing credit card balances. The new account might come with a lower interest rate, such as a promotional period with zero percent interest for up to 21 months.

    The new credit card sets the limit for how much of the balance you can transfer to it, and the amount you qualify for depends on your credit score and income. Due to these limits, balance transfer cards are ideal if you have a smaller amount of debt. Before you apply for a balance transfer, however, you should be aware of what the new card’s annual percentage rate (APR) will be once the promotional rate ends. Most balance transfer credit cards charge a fee for transferring a balance from another credit card.

    Consolidation using a personal loan

    Taking out a personal loan is recommended for consolidating debts totaling over $15,000. Banks and other financial institutions offer personal loans to help people deal with outstanding credit card debt. The effectiveness of this method depends on the terms of the loan offer.

    The benefit of this method is that it provides a higher credit line, sometimes $35,000. In addition, because these are not revolving loans, you don’t have to worry about credit utilization from this loan affecting your credit score. Just like credit cards, personal loans are typically given out based on your credit history and score. This means that the loan terms depend a lot on your credit history.

    Some personal loans come with a prepayment fee, a charge for repaying the loan ahead of schedule. It’s also important to make sure you’re paying a lower interest rate than what you currently pay for your credit cards.

    Consolidating with a home equity loan

    Using a home equity loan to consolidate credit card debt is possible but not usually recommended. While you may be able to consolidate credit card debt at a lower interest if you borrow against the equity in your home, doing so could put you at risk. A home equity loan uses your house as collateral. If you fail to make payments, the bank can seize your house.

    Besides being risky, a home equity loan comes with a lot of fees, which can increase the cost of the loan. These include things like home appraisal fees, annual fees, origination fees, and more.

    Before you do anything …

    Before getting a new loan or line of credit to consolidate debt, consult a nonprofit credit counselor. It’s also a good idea to ask your credit card issuer if it offers any hardship programs. If you are faced with extenuating circumstances, such as an illness or unemployment, some banks are willing to offer a special payment plan with a low interest rate.





    Loans for People with Bad Credit, debt consolidation loans bad credit.#Debt #consolidation #loans #bad #credit

    debt consolidation loans bad credit

    Debt consolidation loans bad credit

    Loans for People with Bad Credit? No Problem! Bad Credit Loans Up to R150 000

    Sick and tired of hearing NO. We say YES!

    We specialize in loans for people with bad credit and we can help any financial problem you might have. It does not matter whether you have been blacklisted, are behind (in arrears) on your accounts or have a poor credit record.

    Having a bad credit record can be frustrating and trying to get a personal loan from your bank can be a nightmare when you have a poor credit record.

    If you re drowning in a sea of debt it can cause a lot of stress if nobody wants to help you with a personal loan. In fact when you re desperate for a personal loan it can be devastating being rejected by lenders who s not prepared to offer any financial assistance.

    This is what makes bad credit loans (blacklisted loans) so great, because it was designed for people who have been rejected by lenders that have strict credit requirements. We have lenders who specialize in personal loans for people with bad credit.

    Personal Loans For People With Bad Credit Up To R150,000

    With a unsecured bad credit loan you do not need any security to qualify for a home loan. In other words lenders will ask you to pledge collateral such as a house for example to get a loan.

    Blacklisted loans are ideal for non-home owners who do not own property. Not to say that if you re a homeowner you cannot apply for a bad credit loan, but if you want to borrow in excess of R150,000 then you need to apply for a home loan for people with bad credit.

    To apply for a blacklisted loan simple complete the form above or click on the link below

    The doors of financial help are not entirely closed for South Africans with a bad credit history. It is very reassuring to know that there are people who want to help you with a personal loan.

    It does not matter what you do with your loan, but it is a good idea to settle your debt as soon as possible. By consolidating your debt it can help with your credit record. If you reduce your debt you can start to improve your credit record.

    Who Can Qualify For A Bad Credit Loan?

    Loans for people with bad credit are intended for people as the name would suggest are blacklisted, have garnishees on their payslip OR someone who does not have enough security to apply for a personal loan.

    However, if you have been placed under debt counselling/administration you re not allowed to apply for loan.

    How To Qualify For A Bad Credit Loan?

    Here are the requirements to qualify:

    – You must earn at least R1,500 pm

    – You must have proof of income

    – You must have a valid ID document

    – You must have a valid bank account from a SA bank

    – You must be permanently employed.

    Click Here – Loans For People With Bad Credit

    Debt consolidation loans bad credit





    Debt consolidation loans for bad credit, debt consolidation loans for bad credit.#Debt #consolidation #loans #for #bad #credit

    Welcome to LendersMark

    This resource provides information about personal lending and steps to debt reduction. We feature a unique selection of loan calculators, each with a pdf view-and-print capability so you can print your amortization table.

    There are a variety of deferred payment programs available, and we have built this site to show you some of them as well as provide tools to help you anticipate accumulated interest and payoff.

    An unsecured loan can be the best borrowing choice in a variety of circumstances. They generally require no collateral and only your signature as a promise to repay the loan. When obtained from a bank, which is the norm for larger amounts, the interest rates tend to be significantly lower than those of credit cards, making a personal loan a good option for certain purchases or projects. The rates and terms of a loan will normally be determined by your credit history. The exception being payday loans, which are cash advances that range up to $1500 and are typically granted with no credit check. While they tend to be more accessible to people with bad credit, they are also much more expensive than other types of loans.

    Debt Elimination options are available to help you pay off bills and get out of debt quickly. Quality credit counseling and debt settlement are available to you in addition to traditional debt consolidation loans. Taking the time to learn how to manage debt successfully can have a positive effect on both your present and your future financial security and well being. Make some credit card payoff calculations. Set a goal and work toward it.

    Home Loans are available for a broad range of credit conditions. If you are considering a new home loan, whatever your credit rating, you must be an informed consumer. Take time to carefully research the options available to you. When shopping for a loan, be sure to compare the terms, conditions, and interest rates of all potential lenders. This is particularly important for those with bad credit to remember; don’t rush into a loan agreement out of desperation. Talk to multiple lenders and carefully consider your offers.

    Refinancing your mortgage can be a financially advantageous move, particularly for those who would like to convert an ARM to a fixed interest rate. Many people save a significant amount of money by refinancing to a lower rate. If you have equity, you can get cash to pay off other debt. While this does have advantages, it is important to remember that the pledged property is in jeopardy if the repayment schedule is not met. If you are considering a refinance, be sure to calculate all associated costs with getting the new loan to ensure that it is the right option for you. Equity can be an excellent source of money for home improvements, college costs, or debt elimination. Generally speaking, you can borrow about 80 percent of the equity in your home. As with any borrowing opportunity, do your homework and become an informed consumer capable of making the right choice for your financial well-being.





    How Does Debt Consolidation Affect Your Credit Report, credit card debt consolidation.#Credit #card #debt #consolidation

    How Does Debt Consolidation Affect Your Credit Report?

    Your debt consolidation credit report should look better than the credit report you had before you combined your bills. Ultimately, the goal is to improve your credit and not harm it. That is why it is important to understand how debt consolidation will affect your credit.

    Your Debt Consolidation Credit Report: Positive Effects

    One positive effect that debt consolidation can have on your credit score is the fact that several accounts will appear to be paid off. Even though debt consolidation creates a new credit account, lenders consider the other accounts as paid in full.

    Timely repayment of new credit will also have a positive effect on your credit in the long term. Unfortunately, this raise in your credit score will take time, as you need a history payments on the account. If you continue to use your credit cards, it is important to keep up to date with all of your payments in order for your credit score to improve.

    It is better to borrow against your equity line, than it is to apply for new credit cards repeatedly in order to take advantage lower interest rates. Using personal loans for debt consolidation is usually the best option, and as long as you pay your bills on time, your credit score should eventually rise.

    Your Debt Consolidation Credit Report: Negative Effects

    Depending on the actions that you take after debt consolidation, you can end up hurting your score. Missing a payment can bring your credit score down. It is important to keep up with your debt consolidation loan payments, and any other credit payments that you are required to make, otherwise your score will drop.

    Closing credit card accounts after you have consolidated the debt can negatively impact your score. Never close your oldest accounts because they will give you the longest credit history. You may also want to wait until the debt is paid off before closing accounts. This is because your overall available credit will decrease, yet your debt level will remain. That makes it look like you have maxed out, and are therefore a high risk.

    If you use a debt settlement program to consolidate your bills and the method includes negotiating a reduction of the debt that you owe, your credit report will be negatively impacted. Finding a way not to pay creditors the full amount that you owe does not look good.

    Using balance transfers for debt consolidation may have a negative impact on your credit report as well. This is especially true if you apply for a new credit card in order to use an introductory interest rate. If you do not pay off the full balance by the end of the trial period, your interest rates will return to normal. Applying for new credit every six months is also frowned upon.

    If you handle debt consolidation properly, the long term effect on your credit should be positive. Go about the wrong way, and you can do more harm than good to your credit report.

    The content on this site is provided for informational purposes only and is not legal or professional advice. Advertised rates on this site are provided by the third party advertiser and not by us. We do not guarantee that the loan terms or rates listed on this site are the best terms or lowest rates available in the market. All lending decisions are determined by the lender and we do not guarantee approval, rates or terms for any lender or loan program. Not all applicants will be approved and individual loan terms may vary. Users are encouraged to use their best judgment in evaluating any third party services or advertisers on this site before submitting any information to any third party.





    Credit Card Debt Calculator, Debt Consolidation, credit card debt consolidation.#Credit #card #debt #consolidation

    Credit card debts

    Personal credit cards provide a convenient and widely accepted way to pay for general and household expenses. Some of their features, however, may lead you into debt, particularly when your income is reduced and you are adjusting to changed financial circumstances.

    Many people may think of getting a second credit card when they are struggling to make payments on the first. This is a serious debt trap. If you use one card to make payments on another or to keep making purchases beyond your means, your debt will spiral out of control.

    You should contact your bank or financial institution to ask for assistance with managing your credit card debt. Available options include requesting a lower credit limit or cancelling the card. Ultimately, though, you need to take control of your spending and avoid using your credit card to buy goods and services that you simply cannot afford.

    Please note the information on this page applies only to credit cards for personal expenses, not business or investment.

    When you can’t pay off your credit card each month

    Credit cards allow you to spend money you don’t necessarily have, and in this way are very dangerous for people with limited income.

    Credit card interest is usually the second highest rate of interest for any type of loan after payday, or short term, loans. The only way to avoid the high interest is to stop using your credit card for cash advances and to pay the whole balance within the interest-free period.

    If you have a credit card and only pay the minimum monthly payment you’ll end up in debt. By paying just the minimum payment, $1000 on your credit card can become an 11 year loan, even with no extra purchases.

    When you can’t pay your minimum monthly payment

    A credit card calculator can help you check how long it will take you to pay off credit card debt under a number of scenarios.

    By law, your credit card statement will have a warning and show you how much you ll pay if you only make minimum repayments.

    If you don’t pay the minimum monthly repayment, you’ll have to pay extra interest and usually a late payment fee as well. This will be so even if you don’t use the card for new purchases. A late payment fee may also be added for payments after the due date.

    Flexible payment arrangements for credit cards

    As with all credit for personal or household purposes covered under consumer credit law and the Code of Banking Practice, your bank or financial institution is required to consider requests for flexible payment arrangements if you are experiencing financial hardship.

    If you can’t afford the minimum monthly payment, or you simply want to tackle your overall credit card debt, you need to contact the hardship area of your lender, explain that you’re experiencing financial hardship, and ask if they will vary the terms of your credit card contract. If you cancel your card, you can try to negotiate for no interest to be charged on the debt, or at least an interest rate much lower than your usual credit card rate.

    Because of the complex nature of credit card debt and the high levels of interest and charges, you should seek help when managing your credit card debt before it becomes an ongoing problem.

    Understand your rights and options

    Find out more about:

    • your rights for negotiating changed payment arrangements for credit card debt, including how to proceed if your lender refuses your proposal.
    • the range of options available for dealing with your credit card debt.
    • debt collection procedures for when you don’t pay your credit card debt.

    If your credit card provider is threatening or has commenced court proceedings against you, you should seek legal advice urgently. Consumer Action Law Centre provides specialist legal advice on credit and debt matters. You should also immediately lodge a complaint with the relevant EDR scheme about any concerns you have including your financial hardship. Your credit card provider is then required to halt the court proceedings to see if the matter can be resolved by the EDR scheme.

    Keep a record of all details of your contact with your lender, including the date and time of any calls, and the name of the person you spoke to.

    How to avoid credit card debt

    In a time of financial hardship you need to act quickly to bring your credit card spending under control and avoid extra interest and charges. You can do this if you:

    • make your purchases using cash or a debit card if possible. Avoid using your credit card unless you can pay off the balance in full in the interest-free period.
    • if you can, pay the whole balance on the card within the interest-free period to avoid high interest charges. Purchases with your card will end up costing a lot more if you don’t keep up with your payments.
    • don’t exceed the limit unless you expect to be able to pay it off in the short-term. When your income is reduced, there is a risk you’ll exceed your credit card limit if you continue using your card. Don’t get a second credit card believing that will solve your problems. Unless you can definitely pay the card off in the short-term, another card will make your debt problem worse rather than fixing it.
    • avoid using your credit card for cash advances, as interest charges usually apply immediately.
    • consider cancelling any direct debits you have to get more control over what you pay and when. Make sure though that you are not breaching contractual obligations. Seek legal advice from Consumer Action Law Centre if in doubt.

    The cost of credit card debt

    If you only pay the minimum monthly payment off your credit card balance, you may be reducing your debt by much less than you think.

    The following examples are based on a scenario where:

    • you have a typical credit card; and
    • you don’t use the card for new purchases; and
    • minimum payment is set at the lesser of 2.5% or $10; and
    • interest will be charged from the date of purchase (unless you pay it off each month); and
    • interest will be charged at approximately 16% per year.

    How $1,000 turns into an 11 year loan

    Suppose you spend $1,000, and make minimum repayments. You now have a debt on which you must pay interest. Of your first 2.5% minimum payment:

    • about $13 pays interest; and
    • just $12 comes off the debt.

    By just paying the minimum balance, you will take more than 11 years to pay off that $1,000 debt. In that time, you will pay about $860 in interest.

    How $10,000 turns into a 27-year loan

    Imagine now that you spend $10,000, and make only minimum repayments. As the debt gets bigger, minimum payments do an even worse job of getting rid of your debt. Of your first 2.5% minimum payment:

    • about $133 dollars pays interest; and
    • just $115 comes off the debt.

    Minimum repayments now take more than 27 years to pay off your debt, costing you about $11,000 in interest.

    Case study

    Stephen was an IT professional who was retrenched at the age of 55 after working with the same company for 25 years. His wife, Marcia, had left her job in administration at a hospital four years earlier following an illness that still affected her. Stephen and Marcia’s three children all still lived at home. The eldest was at university, the middle one was working in retail at a music store, and the youngest was in Year 11 at secondary school.

    Stephen and Marcia had a large mortgage. Stephen intended to get another job following a six week family break, but when they got back home, finding a new job was more challenging than Stephen anticipated. He also felt that he was being overlooked for the few positions available in favour of younger, more confident candidates.

    Stephen and Marcia started to use their credit cards for most of their purchases. Their previous “good credit rating” from the past provided them with access to new lines of credit with very few questions asked. Their credit card debts and associated interest began to build up to a massive level.

    They knew what was happening but put off doing anything about it, hoping Stephen would find a new job, and could pay out the growing debts.

    He contacted a financial counsellor who prepared a current financial statement that revealed that Stephen and Marcia had purchased some shares.

    The financial counsellor encouraged Marcia and Stephen to sell the shares and pay the proceeds off the credit card debt. He also helped them to work out a plan to reduce their credit card debt by paying the card with the highest interest rate first, and cancelling all but one credit card that was only to be used in the case of emergencies.

    After several months, Stephen managed to get a job, albeit a low paid one compared with what he had been used to. The income was enough for Stephen and Marcia to cover day-to-day expenses and work out payment plans with their creditors.





    CREDIT CARDS and LOANS for BAD CREDIT, consolidation loans with bad credit.#Consolidation #loans #with #bad #credit

    Loans and Credit Cards for Bad Credit

    Welcome! Since 2005, we have been dedicated to helping those with a bad credit rating rebuild their credit. We provide you with the knowledge and resources necessary for you to find the best loans and credit cards for bad credit, regardless if you have a poor credit score or past credit problems. We continously update our offers to bring you the best bad credit offers available.

    If you are looking for the right offer to fit your financial needs or repair bad credit, please begin by choosing a category of offers below:

    Compare the top 10 credit cards for those with bad credit and apply online instantly.

    Compare auto lenders that approve people with a poor credit score.

    Review the best services for debt relief and debt consolidation loans.

    Need a cash loan to pay bills, take a vacation, or start a business? Apply now.

    Compare options to repair your bad credit history and improve your rating.

    Get a new home loan now at a great rate regardless of your past credit history.

    Tips and Advice

    ► 5 Steps to Rebuilding Bad Credit

    Consolidation loans with bad credit

    ► Credit Crunch Shrinking Size of Personal Loans

    Consolidation loans with bad credit

    ► Inside the Brain of an Auto Lender

    Consolidation loans with bad credit

    ► Filing for Bankruptcy: Chapter 7 vs. Chapter 13

    Consolidation loans with bad credit

    ► Which Type of Home Loan is Right for You?

    Consolidation loans with bad credit

    ► Too Much Debt? How to Break the Debt Cycle

    Consolidation loans with bad credit





    Consolidation loans for credit cards, consolidation loans for credit cards.#Consolidation #loans #for #credit #cards

    Welcome to LendersMark

    This resource provides information about personal lending and steps to debt reduction. We feature a unique selection of loan calculators, each with a pdf view-and-print capability so you can print your amortization table.

    There are a variety of deferred payment programs available, and we have built this site to show you some of them as well as provide tools to help you anticipate accumulated interest and payoff.

    An unsecured loan can be the best borrowing choice in a variety of circumstances. They generally require no collateral and only your signature as a promise to repay the loan. When obtained from a bank, which is the norm for larger amounts, the interest rates tend to be significantly lower than those of credit cards, making a personal loan a good option for certain purchases or projects. The rates and terms of a loan will normally be determined by your credit history. The exception being payday loans, which are cash advances that range up to $1500 and are typically granted with no credit check. While they tend to be more accessible to people with bad credit, they are also much more expensive than other types of loans.

    Debt Elimination options are available to help you pay off bills and get out of debt quickly. Quality credit counseling and debt settlement are available to you in addition to traditional debt consolidation loans. Taking the time to learn how to manage debt successfully can have a positive effect on both your present and your future financial security and well being. Make some credit card payoff calculations. Set a goal and work toward it.

    Home Loans are available for a broad range of credit conditions. If you are considering a new home loan, whatever your credit rating, you must be an informed consumer. Take time to carefully research the options available to you. When shopping for a loan, be sure to compare the terms, conditions, and interest rates of all potential lenders. This is particularly important for those with bad credit to remember; don’t rush into a loan agreement out of desperation. Talk to multiple lenders and carefully consider your offers.

    Refinancing your mortgage can be a financially advantageous move, particularly for those who would like to convert an ARM to a fixed interest rate. Many people save a significant amount of money by refinancing to a lower rate. If you have equity, you can get cash to pay off other debt. While this does have advantages, it is important to remember that the pledged property is in jeopardy if the repayment schedule is not met. If you are considering a refinance, be sure to calculate all associated costs with getting the new loan to ensure that it is the right option for you. Equity can be an excellent source of money for home improvements, college costs, or debt elimination. Generally speaking, you can borrow about 80 percent of the equity in your home. As with any borrowing opportunity, do your homework and become an informed consumer capable of making the right choice for your financial well-being.





    Bad Credit Personal Loans for people with Poor Credit Rating, Tenants Loan, Homeowners PCF, consolidation loans for credit cards.#Consolidation #loans #for #credit #cards

    consolidation loans for credit cards

    Consolidation loans for credit cards

    Previous or current credit problems don’t have to hold you back from getting the finance you want. Even if you’ve had CCJs, arrears, are self employed or have no credit history – fortunately there are a few lenders who specialise in offering mortgages, credit cards and loans for people with a bad credit rating.

    Specialist lenders understand that just because you have run into financial problems in the past, it doesn’t necessarily follow that you will be unable to meet your financial commitments in the future. They provide poor credit loans to many types of applicants – even discharged bankrupts – as long as the borrower can afford to meet their monthly repayments. Loans are available for both tenants and homeowners with bad credit history.

    If you have run into serious arrears, perhaps because you get divorced, fall ill or lose your job, you’re likely to have a poor credit rating. Minor blips on your credit record, such as missing a credit card payment, failing to pay a parking ticket or forgetting to settle a utilities bill, can also affect your eligibility for credit.

    Most mainstream lenders will reject applications from people who have a bad credit history such as County Court Judgements CCJs, defaults and bankruptcy. You can also be rejected for a personal loan or mortgage for a wide range of relatively minor problems such as not being on the electoral roll, not having a bank account, receiving income benefits and even making several applications for credit in a short space of time. Figures from analyst Datamonitor estimate that 9.1m people were refused credit by mainstream lenders in 2005.

    Consolidation loans for credit cards Getting credit can sometimes seem like an impossible task and it’s easy to get despondent if you’re turned down. The truth is no one has a right to get credit or to be given a reason why credit has not been granted.

    The adverse credit market has become far less competitive in recent years with the differentia in rates between bad credit and good credit products increasing significantly. However, a few reputable lenders still offer bad credit loans, credit cards and mortgages for people with bad debts, CCJs or even a past bankruptcy on their credit file.

    Contrary to popular belief, there is no such thing as a credit blacklist detailing people who shouldn’t be lent money. Each lender will have their own criteria for determining whether to accept you as a customer, they will use the information you provide on the application form and the contents of your credit file to make a calculation on your “risk” as a potential customer.

    Use the search facility above to find UK lenders who will accept applications from people with bad credit history.

    Each time you apply for credit, the lender will carry out a search with a reference agency to help establish whether or not you are creditworthy.

    Lenders use credit scoring to decide who to lend money to. You earn a certain number of points for each bit of information in your application.

    A few simple tips on how you could give your credit score a push in the right direction.

    Research suggests that those “systematically denied credit by mainstream lenders” will increase from 7 million to 8.6 million by 2011.

    Remortgaging or taking out a loan to consolidate debt is a popular way of reducing credit card and loan repayments. But do the risks outweigh the gains?





    Debt consolidation loans – Money Advice Service, consolidation loans for credit cards.#Consolidation #loans #for #credit #cards

    Debt consolidation loans

    Consolidating all your debts into one loan might appear to make life easier but there might be much better ways of dealing with debts. Find out more about how debt consolidation loans work, then get free debt advice before you make a decision.

    What is a debt consolidation loan?

    If you’ve got lots of different debts and you’re struggling to keep up with repayments, you can merge them together into one loan to lower your monthly payments.

    You borrow enough money to pay off all your current debts and owe money to just one lender.

    There are two types of debt consolidation loan:

    • Secured – where the amount you’ve borrowed is secured against an asset, usually your home. If you miss repayments, you could lose your home.
    • Unsecured – where the loan is not secured against your home or other assets.

    Secured debt consolidation loans

    Debt consolidation loans that are secured against your home are sometimes called homeowner loans.

    You might be offered a secured loan if you owe a lot of money or if you have a poor credit history.

    You should get free debt advice before you consider taking out a secured debt consolidation loan, as they’ll not be right for everyone and you could just be storing up trouble or putting off the inevitable.

    When should you consider a debt consolidation loan?

    Consolidating debts only makes sense if:

    • Any savings are not wiped out by fees and charges.
    • You can afford to keep up payments until the loan is repaid.
    • You use it as an opportunity to cut your spending and get back on track.
    • You end up paying less interest than you were paying before and the total amount payable is less (it could be more if you repay over a longer period).

    Before you choose a debt consolidation loan think about anything that might happen in the future which could stop you keeping up with repayments.

    For example, what if interest rates go up, or you fall ill or lose your job?

    If you can’t stop spending on credit cards, for example because you’re using them to pay household bills, this is a sign of problem debt.

    You should get free debt advice before taking out a debt consolidation loan.

    Warning!

    Always think about the potential downside of a secured loan. Your circumstances might change and your home could be at risk if you can’t keep up with repayments

    When getting a debt consolidation loan doesn’t make sense

    A debt consolidation loan definitely doesn’t make sense if:

    • You can’t afford the new loan payments
    • You don’t clear all your debts with the loan
    • You end up paying more overall (due to the monthly repayment being higher or the term of the agreement being longer), or
    • You really need help sorting out your debts rather than a new loan – a debt adviser might be able to negotiate with your creditors and arrange a repayment plan.

    Debt consolidation loans that don’t put your home at risk

    A better option might be a 0% or low-interest balance transfer card.

    This is the cheapest way if you repay within the interest-free or low-interest period.

    You’re likely to need a good credit rating though to get one of these cards.

    You could also consolidate your debts into an unsecured personal loan, but again you’ll need a good credit rating to get the best deals.

    Fees and charges for debt consolidation loans

    Beware of the high fees some companies charge for arranging the loan.

    • Read the small print carefully for any extra fees or charges before you sign anything
    • Check whether there are any fees for paying off existing loans early as this could cancel out any savings you make
    • Avoid paying a fee for a company to arrange the loan on your behalf unless you’re getting advice (and you’re sure it’s worth the cost)




    Debt Counselling, SA, Counsellors, Consolidation, Management, Loans, Problems, Therapy, Bad Debts, Blacklisted, Free Credit Reports, Strand, Somerset West, Gordon s Bay, Cape Town, South Africa, bad credit debt consolidation loans.#Bad #credit #debt #consolidation #loans

    WELCOME TO THE WEBSITE OF DebtCounsellorsSA

    DEBT COUNSELLING IS PRESCRIBED BY THE NATIONAL CREDIT ACT 34 OF 2005 AND

    REGULATED BY THE NATIONAL CREDIT REGULATOR (NCR)

    Complete the application form below, and return it as soon as possible, so we can do a FREE EVALUATION of your debt situation.

    OR complete your contact details above, and we will contact you as soon as possible .

    Debt counselling is FORCED ONTO CREDITORS by the National Credit Act, and they cannot refuse your application, if you make a reasonable offer, to repay your debt.

    IS YOUR PERSEPTION THAT DEBT COUNSELLING IS EXPENSIVE?

    Think again: Statistics show that

    DEBT COUNSELLING IS THE CHEAPEST WAY OF DEBT COLLECTION IN SA!

    *Statistics provided in the December 2014 DCASA (Debt Counsellors Association of SA) Newsletter

    Debt Counselling Fees, as a percentage of repayments, amounts to 4.56%.

    � With Legal Fees, the cost to Consumers increases to 7.42% of repayments.

    Normal Credit Provider Collection Costs range from 17% to 23%.

    � The Cost of Debt Counselling is however Reduced by the Negotiated Industry Concessions,

    which is part of theTask Team Agreement.

    � In terms of this agreement Credit Providers agreed to:

    o Reduce Fees to zero and to

    o Reduce Interest rates to zero% on unsecured and

    o Repo + 2% on secured debt (now 7.75%)

    � A full reduction, according to these concessions, would Reduce Payments by 39%.

    � In cases where interest is reduced (say from 31% TO 28%) this reduction

    fully covers the debt counselling fees (3% reduction covers ALL fees!).

    – BUT remember, debt does not make you a �bad� person in any way, just unfortunate.

    � We have clients under debt counselling, over the total spectrum of life � from rich to poor – cleaners to doctors, advocates and people you would never suspect having financial difficulty.

    � Creditors use the law, to retrieve their money. The National Credit Act states that after only 20 days in default of your accounts, and creditors can start with legal action.

    � Use the same Credit Act against your creditors, to repay your debt, according to what you can AFFORD. Debt counselling is FORCED ONTO CREDITORS by the Credit Act, and they cannot refuse your application, if you make a reasonable offer, to repay your debt.

    Since very early times, there is reference to poor and over-indebted people, which has not changed over the centuries. Every era and culture had their own way of dealing with debt � just look at these two examples:

    o Debtors and creditors are mentioned even in the Bible! The difference however, was that creditors were much more lenient towards debtors during Biblical times. In Exodus 22:25 [God says] �If you lend money to any of my people with you, who is poor, you shall not exact interest from him; If ever you take your neighbor�s garment in pledge, you shall restore it to him before the sun goes down.

    o The Roman Law provided that a debtor, who failed to make good payments to his creditors, could be �in parti secant� (his flesh could be cut!), or sold into slavery.

    o Sections 65A to 65M of the South African Magistrates’ Courts Act provided for the imprisonment of judgment debtors in certain circumstances, until it was found in 1995 by the Constitutional Court to be inconsistent with the right to personal freedom provided for in section 11(1) in Chapter 3 of the Interim Constitution.

    FORTUNATELY YOU NOW HAVE THE NATIONAL CREDIT ACT TO PROTECT YOU

    o According to statistics recently released by the NCR, the number of consumers with impaired records in SA keep to rise. According to the report, consumers with impaired credit records increased by 119 000 in the last quarter, to 9.5 MILLION � which is a dramatic jump.

    o About 15 000 consumers apply new for debt counselling every month.

    BY READING HERE, YOU NOW HAVE TAKEN THE FIRST STEP TO DEAL WITH YOUR DEBT � AND THIS IS TO

    ADMIT YOU HAVE A DEBT PROBLEM, SO NOW YOU NEED TO ASK US TO HELP YOU

    Nobody outside debt counselling ever needs to know you have applied for debt counselling � everything is very confidential � no salary deductions.

    � Debt counselling fees are prescribed by the NCR, and debt counsellors cannot receive more than these fees.

    � A debt counsellor is not allowed to receive your monthly payments, and distribute it to your creditors.

    � Our debt counsellors are well trained, have an excellent reputation, and are consumer activists..

    One of our clients recently said: �You changed our lives 120%�!

    FREE EVALUATION of your debt situation .

    Court rulings are heavily skewed in favour of creditors, where consumers cannot repay their debt. Millions of summonses, judgements, sales in executions and salary attachment orders are issued every year.

    Apply for debt counselling today, before you become one of these statistics.

    Bad credit debt consolidation loans





    Should I Consolidate Credit Card Debt, credit card consolidation.#Credit #card #consolidation

    Should I Consolidate Credit Card Debt?

    If you are struggling to pay off multiple credit cards, consolidating your debt may allow you to reduce your interest rates and lower your monthly payment. However, a lower monthly payment can mean a longer repayment term and more interest paid over the life of the loan. Whether you should consolidate your credit card debt depends on your individual circumstances and the terms of the consolidation.

    Read on to learn more about whether credit card debt consolidation is right for you.

    (To learn more about managing credit card debt, see out topic on getting out of credit card debt.)

    What Is Credit Card Debt Consolidation?

    Consolidating your credit card debt essentially means combining all of your debt into a single loan or paying your creditors through a single monthly payment. You can do this by taking out a consolidation loan or using a debt consolidation or management company.

    How Does Credit Card Debt Consolidation Work?

    When you obtain a debt consolidation loan, you pay off all of your outstanding credit cards with its proceeds. This means that instead of owing money on multiple credit cards, you now have a single obligation. The amount of your monthly payment will depend on the total amount, interest rate, and payment terms of your consolidation loan.

    Should I Use a Debt Management Company to Help?

    There are thousands of companies that claim they can help you consolidate or manage your credit card debt so that you pay less or reduce your payment.

    Typically this is how these companies work: Instead of obtaining a new loan to pay off your credit cards, the debt management company tries to negotiate with the credit card companies to reduce your interest rates or otherwise lower your monthly payments. Each month, you make a single payment to the debt consolidation firm and it distributes a portion of your payment to each of your creditors. Usually, it also keeps a portion (or sometimes all) of your payment to cover its own fees.

    While there are some legitimate companies that provide this service for a very low fee, many companies charge huge fees and do little on your behalf.

    (You can learn more about debt management and debt negotiation companies in our Debt Settlement Negotiation topic area.)

    Is Credit Card Debt Consolidation Right For You?

    Below are some of the main factors you should consider when deciding whether consolidating your credit card debt is in your best interest.

    Can You Afford to Pay Off Your Credit Cards?

    Consolidating your credit card debt does not eliminate it. Even if the consolidation reduces your monthly payment, you still have to pay off all of your debt. So if you don t have regular income or can t afford your monthly payment, consolidating your credit card debt will not help you get back on track.

    If you can t afford to pay off your credit cards, consider other alternatives such as debt negotiation (which can reduce the balance on your credit cards) or bankruptcy.

    Will Consolidating Your Credit Card Debt Reduce Your Interest Rates?

    One of the main benefits of consolidating your credit card debt is getting a reduced interest rate. Reducing your interest rate allows you to lower your monthly payment and pay off your debts sooner. As a result, if you can t lower your interest rates by consolidating your credit card debt, then it is probably not worth the extra cost and fees you will have to incur to do it.

    Will It Take Longer to Pay Off Your Debt If You Consolidate?

    By consolidating your credit card debt, sometimes you can significantly reduce your monthly payment. However, don t assume that your payment went down solely because of a lower interest rate. If your new monthly obligation is substantially lower, it usually means a longer repayment term.

    If your repayment term is extended when you consolidate, it may take you significantly longer to pay off your credit card debt. While it may be nice to have a more manageable monthly payment, it also means paying more interest over the life of the loan. Review the terms of your consolidation carefully before deciding that it is the right choice for you.





    Credit Card Consolidation, credit card consolidation.#Credit #card #consolidation

    Credit card consolidation: Is it for you?

    Although it sometimes feels like it, having credit card debt is not the end of the world. People who have a lot of credit card debt often consolidate their outstanding balances into a single, lower-interest loan to pay down their loans in less time. Credit card consolidation means that your debt across multiple credit cards is merged, giving you one monthly payment.

    Credit card consolidation using a balance transfer

    Using a balance transfer is one of the most common ways to consolidate credit card debt. This method requires you to open up a new credit card account to which you move your existing credit card balances. The new account might come with a lower interest rate, such as a promotional period with zero percent interest for up to 21 months.

    The new credit card sets the limit for how much of the balance you can transfer to it, and the amount you qualify for depends on your credit score and income. Due to these limits, balance transfer cards are ideal if you have a smaller amount of debt. Before you apply for a balance transfer, however, you should be aware of what the new card’s annual percentage rate (APR) will be once the promotional rate ends. Most balance transfer credit cards charge a fee for transferring a balance from another credit card.

    Consolidation using a personal loan

    Taking out a personal loan is recommended for consolidating debts totaling over $15,000. Banks and other financial institutions offer personal loans to help people deal with outstanding credit card debt. The effectiveness of this method depends on the terms of the loan offer.

    The benefit of this method is that it provides a higher credit line, sometimes $35,000. In addition, because these are not revolving loans, you don’t have to worry about credit utilization from this loan affecting your credit score. Just like credit cards, personal loans are typically given out based on your credit history and score. This means that the loan terms depend a lot on your credit history.

    Some personal loans come with a prepayment fee, a charge for repaying the loan ahead of schedule. It’s also important to make sure you’re paying a lower interest rate than what you currently pay for your credit cards.

    Consolidating with a home equity loan

    Using a home equity loan to consolidate credit card debt is possible but not usually recommended. While you may be able to consolidate credit card debt at a lower interest if you borrow against the equity in your home, doing so could put you at risk. A home equity loan uses your house as collateral. If you fail to make payments, the bank can seize your house.

    Besides being risky, a home equity loan comes with a lot of fees, which can increase the cost of the loan. These include things like home appraisal fees, annual fees, origination fees, and more.

    Before you do anything …

    Before getting a new loan or line of credit to consolidate debt, consult a nonprofit credit counselor. It’s also a good idea to ask your credit card issuer if it offers any hardship programs. If you are faced with extenuating circumstances, such as an illness or unemployment, some banks are willing to offer a special payment plan with a low interest rate.





    Loans for People with Bad Credit, debt consolidation loans for bad credit.#Debt #consolidation #loans #for #bad #credit

    debt consolidation loans for bad credit

    Debt consolidation loans for bad credit

    Loans for People with Bad Credit? No Problem! Bad Credit Loans Up to R150 000

    Sick and tired of hearing NO. We say YES!

    We specialize in loans for people with bad credit and we can help any financial problem you might have. It does not matter whether you have been blacklisted, are behind (in arrears) on your accounts or have a poor credit record.

    Having a bad credit record can be frustrating and trying to get a personal loan from your bank can be a nightmare when you have a poor credit record.

    If you re drowning in a sea of debt it can cause a lot of stress if nobody wants to help you with a personal loan. In fact when you re desperate for a personal loan it can be devastating being rejected by lenders who s not prepared to offer any financial assistance.

    This is what makes bad credit loans (blacklisted loans) so great, because it was designed for people who have been rejected by lenders that have strict credit requirements. We have lenders who specialize in personal loans for people with bad credit.

    Personal Loans For People With Bad Credit Up To R150,000

    With a unsecured bad credit loan you do not need any security to qualify for a home loan. In other words lenders will ask you to pledge collateral such as a house for example to get a loan.

    Blacklisted loans are ideal for non-home owners who do not own property. Not to say that if you re a homeowner you cannot apply for a bad credit loan, but if you want to borrow in excess of R150,000 then you need to apply for a home loan for people with bad credit.

    To apply for a blacklisted loan simple complete the form above or click on the link below

    The doors of financial help are not entirely closed for South Africans with a bad credit history. It is very reassuring to know that there are people who want to help you with a personal loan.

    It does not matter what you do with your loan, but it is a good idea to settle your debt as soon as possible. By consolidating your debt it can help with your credit record. If you reduce your debt you can start to improve your credit record.

    Who Can Qualify For A Bad Credit Loan?

    Loans for people with bad credit are intended for people as the name would suggest are blacklisted, have garnishees on their payslip OR someone who does not have enough security to apply for a personal loan.

    However, if you have been placed under debt counselling/administration you re not allowed to apply for loan.

    How To Qualify For A Bad Credit Loan?

    Here are the requirements to qualify:

    – You must earn at least R1,500 pm

    – You must have proof of income

    – You must have a valid ID document

    – You must have a valid bank account from a SA bank

    – You must be permanently employed.

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    Credit Card Debt Calculator, Debt Consolidation, credit card debt consolidation.#Credit #card #debt #consolidation

    Credit card debts

    Personal credit cards provide a convenient and widely accepted way to pay for general and household expenses. Some of their features, however, may lead you into debt, particularly when your income is reduced and you are adjusting to changed financial circumstances.

    Many people may think of getting a second credit card when they are struggling to make payments on the first. This is a serious debt trap. If you use one card to make payments on another or to keep making purchases beyond your means, your debt will spiral out of control.

    You should contact your bank or financial institution to ask for assistance with managing your credit card debt. Available options include requesting a lower credit limit or cancelling the card. Ultimately, though, you need to take control of your spending and avoid using your credit card to buy goods and services that you simply cannot afford.

    Please note the information on this page applies only to credit cards for personal expenses, not business or investment.

    When you can’t pay off your credit card each month

    Credit cards allow you to spend money you don’t necessarily have, and in this way are very dangerous for people with limited income.

    Credit card interest is usually the second highest rate of interest for any type of loan after payday, or short term, loans. The only way to avoid the high interest is to stop using your credit card for cash advances and to pay the whole balance within the interest-free period.

    If you have a credit card and only pay the minimum monthly payment you’ll end up in debt. By paying just the minimum payment, $1000 on your credit card can become an 11 year loan, even with no extra purchases.

    When you can’t pay your minimum monthly payment

    A credit card calculator can help you check how long it will take you to pay off credit card debt under a number of scenarios.

    By law, your credit card statement will have a warning and show you how much you ll pay if you only make minimum repayments.

    If you don’t pay the minimum monthly repayment, you’ll have to pay extra interest and usually a late payment fee as well. This will be so even if you don’t use the card for new purchases. A late payment fee may also be added for payments after the due date.

    Flexible payment arrangements for credit cards

    As with all credit for personal or household purposes covered under consumer credit law and the Code of Banking Practice, your bank or financial institution is required to consider requests for flexible payment arrangements if you are experiencing financial hardship.

    If you can’t afford the minimum monthly payment, or you simply want to tackle your overall credit card debt, you need to contact the hardship area of your lender, explain that you’re experiencing financial hardship, and ask if they will vary the terms of your credit card contract. If you cancel your card, you can try to negotiate for no interest to be charged on the debt, or at least an interest rate much lower than your usual credit card rate.

    Because of the complex nature of credit card debt and the high levels of interest and charges, you should seek help when managing your credit card debt before it becomes an ongoing problem.

    Understand your rights and options

    Find out more about:

    • your rights for negotiating changed payment arrangements for credit card debt, including how to proceed if your lender refuses your proposal.
    • the range of options available for dealing with your credit card debt.
    • debt collection procedures for when you don’t pay your credit card debt.

    If your credit card provider is threatening or has commenced court proceedings against you, you should seek legal advice urgently. Consumer Action Law Centre provides specialist legal advice on credit and debt matters. You should also immediately lodge a complaint with the relevant EDR scheme about any concerns you have including your financial hardship. Your credit card provider is then required to halt the court proceedings to see if the matter can be resolved by the EDR scheme.

    Keep a record of all details of your contact with your lender, including the date and time of any calls, and the name of the person you spoke to.

    How to avoid credit card debt

    In a time of financial hardship you need to act quickly to bring your credit card spending under control and avoid extra interest and charges. You can do this if you:

    • make your purchases using cash or a debit card if possible. Avoid using your credit card unless you can pay off the balance in full in the interest-free period.
    • if you can, pay the whole balance on the card within the interest-free period to avoid high interest charges. Purchases with your card will end up costing a lot more if you don’t keep up with your payments.
    • don’t exceed the limit unless you expect to be able to pay it off in the short-term. When your income is reduced, there is a risk you’ll exceed your credit card limit if you continue using your card. Don’t get a second credit card believing that will solve your problems. Unless you can definitely pay the card off in the short-term, another card will make your debt problem worse rather than fixing it.
    • avoid using your credit card for cash advances, as interest charges usually apply immediately.
    • consider cancelling any direct debits you have to get more control over what you pay and when. Make sure though that you are not breaching contractual obligations. Seek legal advice from Consumer Action Law Centre if in doubt.

    The cost of credit card debt

    If you only pay the minimum monthly payment off your credit card balance, you may be reducing your debt by much less than you think.

    The following examples are based on a scenario where:

    • you have a typical credit card; and
    • you don’t use the card for new purchases; and
    • minimum payment is set at the lesser of 2.5% or $10; and
    • interest will be charged from the date of purchase (unless you pay it off each month); and
    • interest will be charged at approximately 16% per year.

    How $1,000 turns into an 11 year loan

    Suppose you spend $1,000, and make minimum repayments. You now have a debt on which you must pay interest. Of your first 2.5% minimum payment:

    • about $13 pays interest; and
    • just $12 comes off the debt.

    By just paying the minimum balance, you will take more than 11 years to pay off that $1,000 debt. In that time, you will pay about $860 in interest.

    How $10,000 turns into a 27-year loan

    Imagine now that you spend $10,000, and make only minimum repayments. As the debt gets bigger, minimum payments do an even worse job of getting rid of your debt. Of your first 2.5% minimum payment:

    • about $133 dollars pays interest; and
    • just $115 comes off the debt.

    Minimum repayments now take more than 27 years to pay off your debt, costing you about $11,000 in interest.

    Case study

    Stephen was an IT professional who was retrenched at the age of 55 after working with the same company for 25 years. His wife, Marcia, had left her job in administration at a hospital four years earlier following an illness that still affected her. Stephen and Marcia’s three children all still lived at home. The eldest was at university, the middle one was working in retail at a music store, and the youngest was in Year 11 at secondary school.

    Stephen and Marcia had a large mortgage. Stephen intended to get another job following a six week family break, but when they got back home, finding a new job was more challenging than Stephen anticipated. He also felt that he was being overlooked for the few positions available in favour of younger, more confident candidates.

    Stephen and Marcia started to use their credit cards for most of their purchases. Their previous “good credit rating” from the past provided them with access to new lines of credit with very few questions asked. Their credit card debts and associated interest began to build up to a massive level.

    They knew what was happening but put off doing anything about it, hoping Stephen would find a new job, and could pay out the growing debts.

    He contacted a financial counsellor who prepared a current financial statement that revealed that Stephen and Marcia had purchased some shares.

    The financial counsellor encouraged Marcia and Stephen to sell the shares and pay the proceeds off the credit card debt. He also helped them to work out a plan to reduce their credit card debt by paying the card with the highest interest rate first, and cancelling all but one credit card that was only to be used in the case of emergencies.

    After several months, Stephen managed to get a job, albeit a low paid one compared with what he had been used to. The income was enough for Stephen and Marcia to cover day-to-day expenses and work out payment plans with their creditors.





    Loans for People with Bad Credit, consolidation loans with bad credit.#Consolidation #loans #with #bad #credit

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    Loans for People with Bad Credit? No Problem! Bad Credit Loans Up to R150 000

    Sick and tired of hearing NO. We say YES!

    We specialize in loans for people with bad credit and we can help any financial problem you might have. It does not matter whether you have been blacklisted, are behind (in arrears) on your accounts or have a poor credit record.

    Having a bad credit record can be frustrating and trying to get a personal loan from your bank can be a nightmare when you have a poor credit record.

    If you re drowning in a sea of debt it can cause a lot of stress if nobody wants to help you with a personal loan. In fact when you re desperate for a personal loan it can be devastating being rejected by lenders who s not prepared to offer any financial assistance.

    This is what makes bad credit loans (blacklisted loans) so great, because it was designed for people who have been rejected by lenders that have strict credit requirements. We have lenders who specialize in personal loans for people with bad credit.

    Personal Loans For People With Bad Credit Up To R150,000

    With a unsecured bad credit loan you do not need any security to qualify for a home loan. In other words lenders will ask you to pledge collateral such as a house for example to get a loan.

    Blacklisted loans are ideal for non-home owners who do not own property. Not to say that if you re a homeowner you cannot apply for a bad credit loan, but if you want to borrow in excess of R150,000 then you need to apply for a home loan for people with bad credit.

    To apply for a blacklisted loan simple complete the form above or click on the link below

    The doors of financial help are not entirely closed for South Africans with a bad credit history. It is very reassuring to know that there are people who want to help you with a personal loan.

    It does not matter what you do with your loan, but it is a good idea to settle your debt as soon as possible. By consolidating your debt it can help with your credit record. If you reduce your debt you can start to improve your credit record.

    Who Can Qualify For A Bad Credit Loan?

    Loans for people with bad credit are intended for people as the name would suggest are blacklisted, have garnishees on their payslip OR someone who does not have enough security to apply for a personal loan.

    However, if you have been placed under debt counselling/administration you re not allowed to apply for loan.

    How To Qualify For A Bad Credit Loan?

    Here are the requirements to qualify:

    – You must earn at least R1,500 pm

    – You must have proof of income

    – You must have a valid ID document

    – You must have a valid bank account from a SA bank

    – You must be permanently employed.

    Click Here – Loans For People With Bad Credit

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    Bad Credit Loans – HIGHEST APPROVAL – Personal Loans Online, consolidation loans with bad credit.#Consolidation #loans #with #bad #credit

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    Bad Credit Loan Center ™

    At Bad Credit Loan Center ™ we believe in second chances. We know that good people do fall on hard times and in this economy it s not easy to find help.

    Our goal is to make your process of finding online loans as stress free and easy as possible. Whether you re looking for a cash loan, an auto loan, debt consolidation or credit cards we can help.

    It takes less than 3 minutes to complete an application and usually with in a couple hours a lender will contact you if you re approved. It doesn t matter if you re looking for bad credit loans or good credit loans we can help you find a lender. Bad Credit Loan Center ™ provides a payday loan matching service only and is not a lender.

    For personal cash loans just click the Apply Now button directly above. You will instantly be taken to our partners 256bit COMODO ™ encrypted secure application.

    If you re looking for an auto loan, debt consolidation, bad credit personal loans or credit cards please use the navigation bar at the top of this page. For more information about us or loans for bad credit please visit the about link in the footer of this page.

    Bad credit loans should be used responsibly. You will be required to repay your loan on time to avoid extra interest or fees. Personal loans for people with bad credit that offer monthly payments may be available please consult your lender.

    Loans are not available in all states even if you apply on the internet. All short term lenders have the right to run your credit if they deem it necessary.

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    3 Simple Steps to Obtain Your Loan

    Consolidation loans with bad creditPre Qualify: To pre-qualify for payday loans online you must have income of $1000 dollars per month and be at least 18 years old. Your income can come from a job, benefits, disability or anything along those lines.

    Consolidation loans with bad creditComplete the Application: We utilize a short and easy fast loan advance application. It only takes a couple minutes to complete! It doesn t get any easier than this to get up to $1000 dollars today.

    Consolidation loans with bad creditGet Your Cash: Once a lender match is found and you re approved your payday loans will be deposited the same business day if time permits. It usually only takes a few hours from application to cash in hand!





    RPTIA Credit – Loans for People with Bad Credit, bad credit debt consolidation loans.#Bad #credit #debt #consolidation #loans

    Personal Loans for Bad Credit Available Nationwide

    Are you looking for a bad credit loan, or are you in need of special financing? If so, you are at the right place. We provide nationwide personal loan services and offer one of the leading online bad credit lender programs available in the United States. Our loan services are especially designed to help people with poor credit get quick cash and the necessary financing that is needed. When you have bad credit, it is usually very difficult to find a lender who will finance you without asking for security for the loan. In most cases, many traditional lenders will not even consider your application. However, this does not mean you cannot get financing.

    RPTIA is comprised of the nation’s top bad credit lenders specializing in providing personal loans for people with bad credit. You now have all of the specialty programs at your fingertips that you can qualify for even with limited or poor credit. With our nationwide network of reputable lenders, you can quickly get the financial assistance you need without the conventional harsh restrictions. Our program is specifically designed to help people with bad credit to get an online loan approval; and unlike traditional loan programs, our lenders understand the situation that you are in. In fact, we have one of the highest approval rates in the industry. Most of our clients are just people like you and are getting financing within a few minutes after submitting their online application. So, what do you really need to qualify for an instant poor credit loan?

    Requirements for Applying Online

    Generally to be approved for a loan, you really do not need to worry about your credit rating or having a cosigner. In fact, if you are over 18 years old and have a stable income, you are likely to be approved for a small or large loan.

    The main requirements for financing include:

    • Be a legal US resident
    • Be 18 years old or older
    • Have an active checking account
    • Have proof of employment or steady income

    If you meet all of the above requirements, you are a perfect candidate for online loans. To get your free online approval today, simply go to our secure online application to get your loan. You will get an offer for an emergency loan at some of the most competitive rates in the market.

    Why Apply for Bad Credit Loans with Us?

    We are a trusted financial services provider and have helped hundreds of thousands of people with poor credit get the financing they require quickly. By applying with us, you can rest assured that you are working with a long-standing professional company that has your best interest at heart. Our streamlined application is simple to complete and gives you access to literally hundreds of loan programs that provides loans for people with bad credit, no credit, and other tough to finance circumstances.

    Here are some reasons why our customers love us:

    • One of the largest online lender networks
    • Easy online application with absolutely no upfront fees of any kind
    • Instant application processing, generally takes less than two minutes
    • No obligation required; your offer is presented and you can either accept or decline it
    • Programs range from small to large loans

    When it comes to loans for bad credit our service is second to none. Loan programs range from small loans for those times when you only need a few hundred dollars all the way to large personal loans and auto loans. You have found the one stop spot that has the Nation s top lenders for bad credit and we have streamlined our online application so getting your loan is easier than ever.

    Apart from helping borrowers get quick no credit loans, we also provide other easy financial solutions like debt consolidation loans, payday loans, auto loans and simple cash loans. We have credit programs available that can meet any financing requirement you have. Go to our secure online application now to get approved for your loan today.

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    Should I Consolidate Credit Card Debt, credit card consolidation.#Credit #card #consolidation

    Should I Consolidate Credit Card Debt?

    If you are struggling to pay off multiple credit cards, consolidating your debt may allow you to reduce your interest rates and lower your monthly payment. However, a lower monthly payment can mean a longer repayment term and more interest paid over the life of the loan. Whether you should consolidate your credit card debt depends on your individual circumstances and the terms of the consolidation.

    Read on to learn more about whether credit card debt consolidation is right for you.

    (To learn more about managing credit card debt, see out topic on getting out of credit card debt.)

    What Is Credit Card Debt Consolidation?

    Consolidating your credit card debt essentially means combining all of your debt into a single loan or paying your creditors through a single monthly payment. You can do this by taking out a consolidation loan or using a debt consolidation or management company.

    How Does Credit Card Debt Consolidation Work?

    When you obtain a debt consolidation loan, you pay off all of your outstanding credit cards with its proceeds. This means that instead of owing money on multiple credit cards, you now have a single obligation. The amount of your monthly payment will depend on the total amount, interest rate, and payment terms of your consolidation loan.

    Should I Use a Debt Management Company to Help?

    There are thousands of companies that claim they can help you consolidate or manage your credit card debt so that you pay less or reduce your payment.

    Typically this is how these companies work: Instead of obtaining a new loan to pay off your credit cards, the debt management company tries to negotiate with the credit card companies to reduce your interest rates or otherwise lower your monthly payments. Each month, you make a single payment to the debt consolidation firm and it distributes a portion of your payment to each of your creditors. Usually, it also keeps a portion (or sometimes all) of your payment to cover its own fees.

    While there are some legitimate companies that provide this service for a very low fee, many companies charge huge fees and do little on your behalf.

    (You can learn more about debt management and debt negotiation companies in our Debt Settlement Negotiation topic area.)

    Is Credit Card Debt Consolidation Right For You?

    Below are some of the main factors you should consider when deciding whether consolidating your credit card debt is in your best interest.

    Can You Afford to Pay Off Your Credit Cards?

    Consolidating your credit card debt does not eliminate it. Even if the consolidation reduces your monthly payment, you still have to pay off all of your debt. So if you don t have regular income or can t afford your monthly payment, consolidating your credit card debt will not help you get back on track.

    If you can t afford to pay off your credit cards, consider other alternatives such as debt negotiation (which can reduce the balance on your credit cards) or bankruptcy.

    Will Consolidating Your Credit Card Debt Reduce Your Interest Rates?

    One of the main benefits of consolidating your credit card debt is getting a reduced interest rate. Reducing your interest rate allows you to lower your monthly payment and pay off your debts sooner. As a result, if you can t lower your interest rates by consolidating your credit card debt, then it is probably not worth the extra cost and fees you will have to incur to do it.

    Will It Take Longer to Pay Off Your Debt If You Consolidate?

    By consolidating your credit card debt, sometimes you can significantly reduce your monthly payment. However, don t assume that your payment went down solely because of a lower interest rate. If your new monthly obligation is substantially lower, it usually means a longer repayment term.

    If your repayment term is extended when you consolidate, it may take you significantly longer to pay off your credit card debt. While it may be nice to have a more manageable monthly payment, it also means paying more interest over the life of the loan. Review the terms of your consolidation carefully before deciding that it is the right choice for you.





    Christian Credit Counseling, Debt Consolidation, Credit Counselors, credit consolidation services.#Credit #consolidation #services

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    Providing trusted Christian Credit Counseling since 1990

    Christian Credit Counselors has helped over 300,000 people get out of debt over the last 20 years. Christian Credit Counselors is a non-profit organization that was created to help individuals and families regain control of their finances through the use of educational tools, credit counseling, debt management, and other resources. Our Certified Credit Counselors provide superior services to both our clients and their creditors.

    Are your interest rates too high?

    Need help creating and maintaining a budget?

    Apply Now to let one of our Christian Credit Counselors see what option is best suited to meet your individual needs, goals and circumstances. With a FREE consultation, they will help develop a personal plan and strategy to help you get to your goals and dreams!

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    How Does Debt Consolidation Affect Your Credit Report, credit card debt consolidation.#Credit #card #debt #consolidation

    How Does Debt Consolidation Affect Your Credit Report?

    Your debt consolidation credit report should look better than the credit report you had before you combined your bills. Ultimately, the goal is to improve your credit and not harm it. That is why it is important to understand how debt consolidation will affect your credit.

    Your Debt Consolidation Credit Report: Positive Effects

    One positive effect that debt consolidation can have on your credit score is the fact that several accounts will appear to be paid off. Even though debt consolidation creates a new credit account, lenders consider the other accounts as paid in full.

    Timely repayment of new credit will also have a positive effect on your credit in the long term. Unfortunately, this raise in your credit score will take time, as you need a history payments on the account. If you continue to use your credit cards, it is important to keep up to date with all of your payments in order for your credit score to improve.

    It is better to borrow against your equity line, than it is to apply for new credit cards repeatedly in order to take advantage lower interest rates. Using personal loans for debt consolidation is usually the best option, and as long as you pay your bills on time, your credit score should eventually rise.

    Your Debt Consolidation Credit Report: Negative Effects

    Depending on the actions that you take after debt consolidation, you can end up hurting your score. Missing a payment can bring your credit score down. It is important to keep up with your debt consolidation loan payments, and any other credit payments that you are required to make, otherwise your score will drop.

    Closing credit card accounts after you have consolidated the debt can negatively impact your score. Never close your oldest accounts because they will give you the longest credit history. You may also want to wait until the debt is paid off before closing accounts. This is because your overall available credit will decrease, yet your debt level will remain. That makes it look like you have maxed out, and are therefore a high risk.

    If you use a debt settlement program to consolidate your bills and the method includes negotiating a reduction of the debt that you owe, your credit report will be negatively impacted. Finding a way not to pay creditors the full amount that you owe does not look good.

    Using balance transfers for debt consolidation may have a negative impact on your credit report as well. This is especially true if you apply for a new credit card in order to use an introductory interest rate. If you do not pay off the full balance by the end of the trial period, your interest rates will return to normal. Applying for new credit every six months is also frowned upon.

    If you handle debt consolidation properly, the long term effect on your credit should be positive. Go about the wrong way, and you can do more harm than good to your credit report.

    The content on this site is provided for informational purposes only and is not legal or professional advice. Advertised rates on this site are provided by the third party advertiser and not by us. We do not guarantee that the loan terms or rates listed on this site are the best terms or lowest rates available in the market. All lending decisions are determined by the lender and we do not guarantee approval, rates or terms for any lender or loan program. Not all applicants will be approved and individual loan terms may vary. Users are encouraged to use their best judgment in evaluating any third party services or advertisers on this site before submitting any information to any third party.





    AAA Debt Managers: Personal Debt Consolidation – Credit Counseling in Canada, credit consolidation.#Credit #consolidation

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    CONSOLIDATE DEBT PROGRAM

    Nobody needs constant calls from creditors and sleepless nights. So you’ll be glad to know one call to one of our licensed professionals you’ll see how you can become debt free, and worry free.

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    HOW WE HELP Our Services

    With 20 years of proven Debt Management Programs and great service options we’ll help you pay down your debt and restore your credit and show you how we “manage your debt so you can manage your life”

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    GET OUT OF DEBT STARTS HERE

    We’ve helped thousands of Canadians get out of debt in less time and for less money. We know what it takes to build a program that works. Start here to find out if you qualify. Call 1-800-774-5779 or chat online.

    To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video

    GET OUT OF DEBT How it works*

    Depending on your particular situation, Debt Management can be a great option for debt relief as it doesn’t require a loan and you can drastically lower your monthly payments, lower interest rates, and pay it off quicker than if you tried on your own.

    Debt Management is a consumer relief program whereby we arrange with your creditors to substantially reduce your interest rates and monthly payments on unsecured debt (such as credit cards), allowing you to avoid bankruptcy and the adverse effects it can bring to your credit rating. Debt Management can reduce your total debt owed including interest by as much as 60%, while lowering your monthly payments during the process.

    Is Debt Management right for you?

    Debt Management is suitable for unsecured debts, such as credit cards bills. It does not apply to secured debt (like a mortgage) because if you default on the loan, creditors will be able to get their money back from the sale of your assets. Debt Management is right for indviduals or familites who:

    • CANNOT MEET THEIR MONTHLY MINIMUM PAYMENTS FOR UNSECURED DEBT OF $10K OR MORE
    • PREFER TO AVOID BANKRUPTCY AND THE STIGMA THAT COMES WITH IT
    • HAVE AVAILABLE CASH OR STEADY MONTHLY INCOME TO AFFORD A REPAYMENT SCHEDULE
    • WOULD LIKE TO RELIEVE STRESS, STOP COLLECTION AGENCY CALLS AND REDUCE DEBT
    • WOULD LIKE TO REBUILD THEIR CREDIT AND TAKE CONTROL OF THEIR FINANCES

    Find Out If You Qualify. Call 1-800-774-5779

    DebtManagers acts as a mediator between you and your creditors, negotiating a new repayment schedule on your behalf, reducing interest rates and monthly payments by up to 60%. For nearly 20 years we have assisted thousands of Canadians Coast-to-Coast in eliminating consumer debt and rebuilding credit.

    As you can imagine, each debtor’s situtation is unique, so the only way to determine if you qualify for this debt management program is to schedule a debt assessment with one of our experienced debt advisors. To find out if you qualify call 1-800-774-5779 or fill out the form above for a free, no-obligation and confidential debt assessment.

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  • Debt consolidation loans – Money Advice Service, consolidation loans for credit cards.#Consolidation #loans #for #credit #cards

    Debt consolidation loans

    Consolidating all your debts into one loan might appear to make life easier but there might be much better ways of dealing with debts. Find out more about how debt consolidation loans work, then get free debt advice before you make a decision.

    What is a debt consolidation loan?

    If you’ve got lots of different debts and you’re struggling to keep up with repayments, you can merge them together into one loan to lower your monthly payments.

    You borrow enough money to pay off all your current debts and owe money to just one lender.

    There are two types of debt consolidation loan:

    • Secured – where the amount you’ve borrowed is secured against an asset, usually your home. If you miss repayments, you could lose your home.
    • Unsecured – where the loan is not secured against your home or other assets.

    Secured debt consolidation loans

    Debt consolidation loans that are secured against your home are sometimes called homeowner loans.

    You might be offered a secured loan if you owe a lot of money or if you have a poor credit history.

    You should get free debt advice before you consider taking out a secured debt consolidation loan, as they’ll not be right for everyone and you could just be storing up trouble or putting off the inevitable.

    When should you consider a debt consolidation loan?

    Consolidating debts only makes sense if:

    • Any savings are not wiped out by fees and charges.
    • You can afford to keep up payments until the loan is repaid.
    • You use it as an opportunity to cut your spending and get back on track.
    • You end up paying less interest than you were paying before and the total amount payable is less (it could be more if you repay over a longer period).

    Before you choose a debt consolidation loan think about anything that might happen in the future which could stop you keeping up with repayments.

    For example, what if interest rates go up, or you fall ill or lose your job?

    If you can’t stop spending on credit cards, for example because you’re using them to pay household bills, this is a sign of problem debt.

    You should get free debt advice before taking out a debt consolidation loan.

    Warning!

    Always think about the potential downside of a secured loan. Your circumstances might change and your home could be at risk if you can’t keep up with repayments

    When getting a debt consolidation loan doesn’t make sense

    A debt consolidation loan definitely doesn’t make sense if:

    • You can’t afford the new loan payments
    • You don’t clear all your debts with the loan
    • You end up paying more overall (due to the monthly repayment being higher or the term of the agreement being longer), or
    • You really need help sorting out your debts rather than a new loan – a debt adviser might be able to negotiate with your creditors and arrange a repayment plan.

    Debt consolidation loans that don’t put your home at risk

    A better option might be a 0% or low-interest balance transfer card.

    This is the cheapest way if you repay within the interest-free or low-interest period.

    You’re likely to need a good credit rating though to get one of these cards.

    You could also consolidate your debts into an unsecured personal loan, but again you’ll need a good credit rating to get the best deals.

    Fees and charges for debt consolidation loans

    Beware of the high fees some companies charge for arranging the loan.

    • Read the small print carefully for any extra fees or charges before you sign anything
    • Check whether there are any fees for paying off existing loans early as this could cancel out any savings you make
    • Avoid paying a fee for a company to arrange the loan on your behalf unless you’re getting advice (and you’re sure it’s worth the cost)




    Consolidation loans for credit cards, consolidation loans for credit cards.#Consolidation #loans #for #credit #cards

    Welcome to LendersMark

    This resource provides information about personal lending and steps to debt reduction. We feature a unique selection of loan calculators, each with a pdf view-and-print capability so you can print your amortization table.

    There are a variety of deferred payment programs available, and we have built this site to show you some of them as well as provide tools to help you anticipate accumulated interest and payoff.

    An unsecured loan can be the best borrowing choice in a variety of circumstances. They generally require no collateral and only your signature as a promise to repay the loan. When obtained from a bank, which is the norm for larger amounts, the interest rates tend to be significantly lower than those of credit cards, making a personal loan a good option for certain purchases or projects. The rates and terms of a loan will normally be determined by your credit history. The exception being payday loans, which are cash advances that range up to $1500 and are typically granted with no credit check. While they tend to be more accessible to people with bad credit, they are also much more expensive than other types of loans.

    Debt Elimination options are available to help you pay off bills and get out of debt quickly. Quality credit counseling and debt settlement are available to you in addition to traditional debt consolidation loans. Taking the time to learn how to manage debt successfully can have a positive effect on both your present and your future financial security and well being. Make some credit card payoff calculations. Set a goal and work toward it.

    Home Loans are available for a broad range of credit conditions. If you are considering a new home loan, whatever your credit rating, you must be an informed consumer. Take time to carefully research the options available to you. When shopping for a loan, be sure to compare the terms, conditions, and interest rates of all potential lenders. This is particularly important for those with bad credit to remember; don’t rush into a loan agreement out of desperation. Talk to multiple lenders and carefully consider your offers.

    Refinancing your mortgage can be a financially advantageous move, particularly for those who would like to convert an ARM to a fixed interest rate. Many people save a significant amount of money by refinancing to a lower rate. If you have equity, you can get cash to pay off other debt. While this does have advantages, it is important to remember that the pledged property is in jeopardy if the repayment schedule is not met. If you are considering a refinance, be sure to calculate all associated costs with getting the new loan to ensure that it is the right option for you. Equity can be an excellent source of money for home improvements, college costs, or debt elimination. Generally speaking, you can borrow about 80 percent of the equity in your home. As with any borrowing opportunity, do your homework and become an informed consumer capable of making the right choice for your financial well-being.





    Bad Credit Loans: Personal Loans for Bad Credit, Carpe, consolidation loans with bad credit.#Consolidation #loans #with #bad #credit

    Loans for Bad Credit

    Consolidation loans with bad credit

    We do the searching so you don’t have to. Our solution providers are pre-screened for low rate unsecured loans for bad or poor credit. No hassle, no spam — just answers. Begin your 60-second matching questionnaire now!

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    Browse our Bad Credit loan providers here. Or call 844-346-3305 NOW for your FREE credit report and credit repair consultation from our partner. Improve your credit and re-apply for lower rates!

    Consolidation loans with bad credit

    Ask an Expert

    Ask us anything.

    Finding Personal Loans for People with Poor Credit

    New lenders have emerged with unsecured personal loan offerings that serve all credit types — you just have to know where to search. Our platform makes this process simple and easy.

    Not everyone is fortunate enough to have great credit, but many of us still need personal loans for cars, homes, and other necessities. We at Carpe can help find lenders willing to make bad credit loans if individuals fit certain other income and credit history requirements. Try Carpe Match above and see if you have an offer for your specific financial profile.

    Why It’s Worth Improving Your Credit Score

    Everyone knows that having credit scores below 650 FICO or 600 FICO can disturb more than just your capacity to appropriate money. It can affect our odds of alighting a job or renting a home. To comprehend what weak credit is how it’s dignified and eventually, how to repair it entails understanding how our monetary system measures our credit for good or bad.

    People with bad credit have low credit scores, usually around 500 FICO or 550 FICO. To get a loan or to borrow money, you will need to comprehend how money lending companies view you in order to establish whether they will loan money to you. These lenders, such as banks, marketplace lenders, peer-to-peer lenders, online lenders and credit card firms, use a variety of credit scoring and rating scoring systems, including some in-house models that may take into account your Facebook page (don’t forget to post a friendly picture!).

    A credit score is basically a number that they use to count how dangerous a borrower you are. The regular credit score is also titled a FICO Score, named after the Fair Isaacs Corporation who generated the standard formulation. Credit scores normally range amongst 300 and 850 (the higher a score, the healthier). Fresh laws and regulations have safeguarded that people can approach their own credit reports every year for free. If you need help finding yours, just-mail us at [email protected]

    Solutions for Online Loans For Bad Credit

    Having a lack of cash can produce you to become late on bills or other responsibilities. By now you may be discovering choices (or lack of choices) to rapidly get a bad credit loan because your credit score is considered to be a below-average credit score. Did you get turned down because you have a horrible and bad credit rating? You must remember that just because one lender turns you down doesn’t mean they all will. These could be unsecured personal installment loans for folks just like you.

    Whatever your plan – credit repair or aggressive savings – it is worth sticking to it. The one thing we do NOT recommend is taking out a payday loan. Carpe Match will not match you with any payday lenders, as we do not work with any and never will. We encourage you to try a personal unsecured installment loan from online lenders, marketplace lenders, peer-to-peer lenders and even some banks. There is always a chance you can get poor and lower credit loans to pay bills or consolidate debt, and if credit repair is able to improve your score, your chances will improve.

    A bad credit loan can be a clever way to combine your high interest rate balances into one controllable monthly fixed rate payment. This is one route some of our customers have used personal online loans for bad credit but what are some extra uses of a personal loan with bad credit? You can use your weak credit loan to pay for deliberate expenses, medical bills, car repairs, home remodels and more.





    Should I Consolidate Credit Card Debt, credit card consolidation.#Credit #card #consolidation

    Should I Consolidate Credit Card Debt?

    If you are struggling to pay off multiple credit cards, consolidating your debt may allow you to reduce your interest rates and lower your monthly payment. However, a lower monthly payment can mean a longer repayment term and more interest paid over the life of the loan. Whether you should consolidate your credit card debt depends on your individual circumstances and the terms of the consolidation.

    Read on to learn more about whether credit card debt consolidation is right for you.

    (To learn more about managing credit card debt, see out topic on getting out of credit card debt.)

    What Is Credit Card Debt Consolidation?

    Consolidating your credit card debt essentially means combining all of your debt into a single loan or paying your creditors through a single monthly payment. You can do this by taking out a consolidation loan or using a debt consolidation or management company.

    How Does Credit Card Debt Consolidation Work?

    When you obtain a debt consolidation loan, you pay off all of your outstanding credit cards with its proceeds. This means that instead of owing money on multiple credit cards, you now have a single obligation. The amount of your monthly payment will depend on the total amount, interest rate, and payment terms of your consolidation loan.

    Should I Use a Debt Management Company to Help?

    There are thousands of companies that claim they can help you consolidate or manage your credit card debt so that you pay less or reduce your payment.

    Typically this is how these companies work: Instead of obtaining a new loan to pay off your credit cards, the debt management company tries to negotiate with the credit card companies to reduce your interest rates or otherwise lower your monthly payments. Each month, you make a single payment to the debt consolidation firm and it distributes a portion of your payment to each of your creditors. Usually, it also keeps a portion (or sometimes all) of your payment to cover its own fees.

    While there are some legitimate companies that provide this service for a very low fee, many companies charge huge fees and do little on your behalf.

    (You can learn more about debt management and debt negotiation companies in our Debt Settlement Negotiation topic area.)

    Is Credit Card Debt Consolidation Right For You?

    Below are some of the main factors you should consider when deciding whether consolidating your credit card debt is in your best interest.

    Can You Afford to Pay Off Your Credit Cards?

    Consolidating your credit card debt does not eliminate it. Even if the consolidation reduces your monthly payment, you still have to pay off all of your debt. So if you don t have regular income or can t afford your monthly payment, consolidating your credit card debt will not help you get back on track.

    If you can t afford to pay off your credit cards, consider other alternatives such as debt negotiation (which can reduce the balance on your credit cards) or bankruptcy.

    Will Consolidating Your Credit Card Debt Reduce Your Interest Rates?

    One of the main benefits of consolidating your credit card debt is getting a reduced interest rate. Reducing your interest rate allows you to lower your monthly payment and pay off your debts sooner. As a result, if you can t lower your interest rates by consolidating your credit card debt, then it is probably not worth the extra cost and fees you will have to incur to do it.

    Will It Take Longer to Pay Off Your Debt If You Consolidate?

    By consolidating your credit card debt, sometimes you can significantly reduce your monthly payment. However, don t assume that your payment went down solely because of a lower interest rate. If your new monthly obligation is substantially lower, it usually means a longer repayment term.

    If your repayment term is extended when you consolidate, it may take you significantly longer to pay off your credit card debt. While it may be nice to have a more manageable monthly payment, it also means paying more interest over the life of the loan. Review the terms of your consolidation carefully before deciding that it is the right choice for you.





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    I’d like a FREE consultation !

    A+ Credit and Debt Help Center is the BEST choice to find a solution for your credit and debt problems. We are a budget analysis, guidance, and debt resolution agency.

    Our trained and friendly staff will take the time necessary to assist in finding a consumer smart solution especially for you, quickly and easily.

    Start with a FREE CONSULTATION.

    Then, it’s as easy as 1, 2, 3…

      First, we specialize in providing clients with an overall picture of their income, expenses, assets, & liabilities. From there, options are identified, pro’s & con’s are discussed, and PLANS OF ACTION are developed.
    1. Finally, you, the client, are in a position to make an intelligent, informed decision to implement your FINAL PLAN OF ACTION .

    Your debts may be a simple or complex problem. Our agency offers a large variety of services. and depending on your needs, our caring, understanding professionals can help you, utilizing either our in-house resources and/or licensed professionals and organizations by referral. Rest assured that we can work with even the most difficult debt situations!

    Whether you choose as your debt solution BUDGET RESTRUCTURING, or INCREASING INCOME, or A DEBT CONSOLIDATION PROGRAM (also known as DEBT MANAGEMENT or CREDIT COUNSELING ) , or IRS OR OTHER PAYMENT PLANS, or LUMP SUM PAYOFFS, or SALE OF ASSETS, or REFINANCING OR BORROWING, let us be your NUMBER-ONE CHOICE to solve your debt worries.

    Additional services include credit freezes. or fraud alerts. or identity theft help. or death notices. or valid disputes. Clerical Services. and consumer credit reports and scores. including assistance with analysis and interpretation of your Equifax, Experian, & Transunion reports.





    Credit Card Debt Consolidation: Five Things You Didn – t Know #free #business #credit #report

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    Credit Card Debt Consolidation: Five Things You Didn t Know

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    How to choose the best option for consolidating your credit card debt.

    Do you carry balances on multiple credit cards? If so, you might have considered credit card debt consolidation. Holding several cards means paying several monthly bills – each with a separate, and often high. interest rate. To lessen the burden, and pay off debt faster, many consumers consolidate all balances onto a single card.

    However, before making the decision to consolidate it’s important to consider these five points:

    1.  Not all scenarios are created equal

    To determine if credit card consolidation is right for you, it’s important to answer a few simple questions:

    • How much debt do you have? Gather all credit card statements, and add up how much debt you owe to your creditors.
    • How much can you realistically put toward paying the credit card monthly? The goal is to pay off debt quickly, so tally up how much you can afford to allocate monthly.
    • How long is the introductory low-APR window? A longer APR duration gives you more time to pay off debt before the rate reverts to the standard, and usually much higher, APR.

    With these three factors in mind, figure out how much you can save on interest during the 0% APR window compared to your existing rates. Then, calculate how much you’ll pay in interest at the standard purchase rate on a new card over the time you think it will take to pay off the remainder of the balance. Compare these numbers to what you would pay in interest at your current rate(s).

    2. Balance transfers can impact your credit

    Consolidating credit cards and leveraging low balance transfer offers has the potential to increase your credit score. But to accomplish this, it’s important to follow a few pointers. For example, for the general population, 30 percent of the FICO ® Credit Score is determined by “credit utilization,” which is the amount of credit actually being used¹.

    For optimal credit, keep credit card balances at 30 percent or less of your total available credit. For example, let’s say you have a credit limit of $10,000. Credit card balances should be $3,000 or less. This means that the cards you’re consolidating will have much lower credit utilization ratios, but your overall ratio will remain the same. However, the lower interest rate you’re paying during the introductory period means you can pay more toward your balance each month, helping lower your overall credit utilization more quickly.

    In addition, you may want to avoid closing old accounts after consolidation. Account age typically contributes to 15 percent of a credit score, therefore closing old accounts decreases the overall age of your credit history.² Just be sure to hide those old cards away somewhere secure to avoid racking up further debt.

    3. Check to see if a 0% APR applies only to balance transfers

    An introductory APR of 0% might only apply to balance transfers. As a result, new purchases could be charged the standard APR – which can be very high. Your cardholder agreement will state the APR for purchases and whether any intro rate applies.

    Creating a budget, and sticking to it, will help with getting the most from credit card consolidation and paying off balances faster.

    4. 0% APR doesn’t mean FREE

    While a 0% intro APR is a great way to pay off credit card debt faster, and save on interest payments, it’s not free like most consumers think. Balance transfer fees are typically charged, which range from 2 to 5 percent of each balance transferred.

    In most cases, despite the upfront costs, you’ll still enjoy substantial savings in the long-term. However, it’s something to consider when deciding if credit card consolidation is right for you.

    5. Not all credit counselors have your best interests in mind

    If you’re considering getting outside help tackling your debt, be sure to thoroughly evaluate credit counselors before choosing one. “Non-profit” doesn’t guarantee that services are free or legitimate. In fact, some non-profit credit counseling organizations charge very high fees. Signs of a reputable organization include:

    • The willingness to send free information about their services, without requiring you to share any specific details about your situation
    • Licensed to offer services in your state
    • Offer a range of services, from budget counseling to savings and debt management classes
    • Accredited and certified counselors

    Research credit counseling agencies with your state attorney general and local consumer protection agency. These agencies will help you uncover if the company has any complaints against them.

    Discover card believes that consumers deserve the best resources and tools when making credit decisions. Our goal is to help consumers use credit wisely and meet their financial goals.

    Legal Disclaimer: The articles and information provided herein are for informational purposes only and are not intended as a substitute for professional advice.

    Your FICO ® Credit Score is based on data from TransUnion and may be different from other credit scores. This information is intended for and provided to the Primary cardmembers only that have an available score and is provided on the statement for individual accounts and on Discover.com for individual and joint accounts. See Discover.com/FICO about the availability of your score.  Discover and other lenders may use different inputs like a FICO ® Credit Score, other credit scores and more information in credit decisions. This benefit may change or end in the future. FICO is a registered trademark of the Fair Isaac Corporation in the United States and other countries.

    Discover Financial Services and Fair Isaac are not credit repair organizations as defined under federal or state law, including the Credit Repair Organizations Act. Discover Financial Services and Fair Isaac do not provide “credit repair” services or assistance regarding “rebuilding” or “improving” your credit record, credit history or credit rating.









    Installment Loans Canada -Debt Consolidation. #credit #card #types

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    Our Team

    © 2013-2015 All rights reserved. urLoan™ is a registered trademark of Creditloans Canada Financing Inc Inc. dba progressa (the “Company”). The Company was formed in British Columbia, Canada, with head office at 2000 – 1500 W.Georgia Street, Vancouver, BC V6G 2Z6. urLoan™ is Canada’s fastest growing lending service, that is not a Pay-day lender, our rates are reasonable and not meant to hurt your long term financial health. We primarily offer debt consolidation loans from $500 to $2,500 with re-payment terms ranging from 6 to 24 months. The Company prides itself on providing reasonable consolidation loans to individuals who can’t obtain standard bank financing. Our APR ranges from 29.00% to 46.95% depending on the information you provide with your loan application. urLoan™ charges NO fees for setting up your loan. Although, we do not charge a late fee on payments, any returned NSF (non-sufficient funds) will be assessed a $50 fee in addition to fees charged by the customer’s financial institution directly to the customer. urLoan™ offers 6 month to 24 month personal loans and is not a credit repair service. With borrowing responsibly within your means, urLoan™ may help improve your credit score by building a credit history provided your payments are made in full and on-time.

    1 – 24-48 hour approvals (between Monday and Friday) based on a completed application and customer verification including review of last 90 days of customer’s bank accounts and a personal credit check through Trans Union ® and/or Equifax ®. Your loan re-payments are scheduled according to how you earn your employment income, i.e. bi-weekly, semi-monthly, or monthly. Loans are based on a 6 to 24 month terms and loan amounts range from $500 to $2,500. Please ask for details.

    2 – Some restrictions and limitations may apply. Please ask for details.

    3 – Payment includes loan protection insurance fees, but excludes applicable provincial taxes.

    CREDIT SCORE IMPACT

    urLoan™ encourages responsible lending and responsible borrowing. While having a loan and repaying it on time can generally help maintain or build your credit, too much debt can certainly be risky for you and impact your ability to repay creditors on time. Failing to repay your obligations because your debt load has become unmanageable will result in a negative report to the credit bureaus, which would reduce your credit score.

    Collections Practices

    urLoan™ contacts our customers in arrears as soon as possible based on automatic notifications from our loan software. We would contact you by telephone, email, fax, or regular mail. urLoan™ may work with third parties to assist in collections activities.

    Renewals

    Loans from urLoan™ do not automatically renew. You have the option to request an increase to your loan after paying down a percentage of your current loan amount and if you continue to maintain a good repayment history. All renewals are subject to our standard underwriting practices.

    Nature of our Loans

    urLoan™ offers unsecured personal term loans. We are NOT a PayDay Loan Company and NOT a short-term lender. Our total cost of borrowing calculation is based on a $1,000 12-month term loan with a bi-weekly repayment schedule. Calculation does not include loan protection insurance or applicable taxes. Our calculation is based on the assumption that the loan is paid off within 6 months of borrowing. 46.95% APR/365 days x $1000 = $234.75

    Disclaimer

    * Please note our sliding graphic is for illustrative purposes only. Actual loan payments will differ depending on individual circumstances.





    Texas Debt Consolidation Loans #unsecured #loans #no #credit #check

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    Find Debt Relief and Consolidation Loan Companies in TX

    Texas Debt Consolidation Loan Directory – Use this menu to find companies providing debt help and relief services in TX.

    Click on a service to jump ahead to a specific list of available providers covering Texas. Wrong State? Use the menu above or find border states.

    • Debt Consolidation Without a Loan – Have a debt problem with too many bills or less than perfect, even bad credit?
    • Personal Loans in Texas – Need a consolidation loan? (Anything more than small loans typically requires having a good to excellent credit history).
    • Related Debt Help Programs – Interested in exploring other options for helping with too much debt?

    We also offer general Texas reference information and personal finance tips to help you get a handle on your personal finances and save money when shopping online for financial services. Do more than just save money now. Learn and save money on a go-foward basis!

    Debt Consolidation Without a Loan

    TOO MANY DEBTS? Consolidate debt or manage your bills in Texas without the help of loans.

    Debt Relief Services Included in This List – Credit Counseling and Debt Settlement Programs.

    List of Advertisers for Credit Counseling and Debt Settlement Providing Services in Texas:

    Please Note: Javascript must be enabled in your browser for the features of this section to display properly. These companies provide services in TX, but may not have a location within the state.





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    9 things you must know about debt consolidation

    Looking for a way to cope with overwhelming debt? Credit counseling agencies may offer some relief. Their debt consolidation programs, called debt management plans, can help you get back on track — but they can also be unnecessary and even detrimental when done through a poorly run organization or for the wrong reasons.

    Here’s what you need to know about consolidating accounts through an agency.

    1. It’s a third-party payment system. Tired of juggling many different accounts? With a debt management plan, you make one payment to the credit counseling agency, which distributes the money to your creditors until they are paid in full. These agencies do not make loans, nor do they settle debts. Instead, they have preset arrangements with most financial institutions, many of which lower interest rates and fees, so more of your payment goes toward the balance rather than finance charges. However, if you just happen to have accounts with creditors that don’t offer any concessions, that benefit is reduced.

    2. Agencies range in quality. With something as precious as your finances, be exceedingly careful about who you work with. Look for a nonprofit credit counseling organization that belongs to either the National Foundation for Credit Counseling (NFCC) or the Financial Counseling Association of America (FCAA). They ensure member agencies pass rigorous standards set forth by the Council on Accreditation or another approved third party, and that their counselors pass a comprehensive certification program. Even if they are members of such organizations, though, be picky. The agency should be organized, send payments and statements on time and offer strong consumer education and support. If it falls short, contact another branch.

    3. All plans are basically the same. Financial institutions don’t give preferential treatment to any one organization, nonprofit or otherwise. So while the agencies and employees vary, the plans are all structured the same way: Your counselor determines how much it will take to pay your creditors in full in three to five years. The payment is usually around 2.5 percent of the total debt. though in hardship situations. there is some wiggle room. You can stop the plan at any time, and you can also pay more — and get out of debt faster — when you have extra funds.

    4. Before consolidation, counseling. Why consolidate bills if you can’t pay for basic expenses or if there are better alternatives? You wouldn’t, which is the reason consolidation begins with a counseling appointment where your entire financial situation is assessed. If you have enough cash left over after subtracting expenses from income, consolidation will be presented along with other options. When a counselor is knowledgeable and compassionate, these sessions can be enlightening and motivating. Not all are. If he or she acts bored, judgmental or pushy, request a different counselor.

    5. Consolidation is not right for everyone. How do you know if debt consolidation would work in your favor? First, the bulk of your balances should be in unsecured debts, such as credit and charge cards, personal loans and, sometimes, collection accounts. If most of your liabilities include other types (tax debt, unpaid child support or old parking tickets, for instance), these plans won’t help. Second, you should be confident that you can pay not just for a month or two, but for years. And third, you need to have just enough money for essential expenses, some savings and your debt. If you have too much cash left over, you’re better off managing the accounts on your own.

    6. It’s simple, steady and efficient. While you’re on the plan, your payment remains constant. You never have to wonder how much you should be paying each month, as it will be the same amount until all creditors are satisfied. When one account is satisfied, the others receive a larger portion of your payment, which speeds up the repayment process. Consolidation can also provide welcome respite from creditors calling about overdue accounts, as they generally stop when the plan begins.

    7. You still have work to do. Those you owe will still be sending you account statements, which you’ll have to monitor and send in. Agency reports do not reflect the interest that you’re still being charged, so if you don’t submit them, the balance the agency reports will be wildly different from what your bank statements say. Many clients get a rude awakening when they think they’re all paid off, only to find they still are in the hole for thousands.

    8. No more charging until you’re done. One of the agreements you make when consolidating your debts with an agency is that you will close the accounts and not get any new ones until you are debt-free. This can be a mighty difficult adjustment if you’re used to whipping out the plastic on a daily basis. However, it does make sense. After all, if you are still charging while repaying, you’re spinning your wheels. In case of emergency, you’re allowed to leave one card, which is typically a general purpose account with a low or no balance that you can use anywhere.

    9. Consolidation is not bankruptcy, but lenders may perceived it negatively. By consolidating, you’re paying 100 percent of your obligations, which is quite different from discharging them in a bankruptcy or settling the debt. Still, your credit report can take a hit if your monthly payments are less than what you would normally pay. Also, while consolidation is not factored into a credit score. some creditors notate that you’re paying through a third party, which can be a red flag to a lender or anyone else looking at the report. We look at it as a bankruptcy. It shows that they need help paying their bills, says Stuart Davis, a senior loan consultant for Princeton Capital out of Los Gatos, California. According to their underwriters, the plan needs to be complete before they will make a loan. On the other hand, most people who consolidate do so because they’re already stumbling and missing payments, so making timely and consistent payments through the service can help their reports.

    Clearly, consolidating debts through a credit counseling agency can be helpful, but you may also be able to achieve the same results on your own. How? Suspend charging and request rate reductions from each of your creditors. If they turn you down, make a few larger than average payments and try again. Then, review your budget to know exactly the amount you can afford to send every month. Plug the numbers into a good debt repayment calculator to know how long it will take to become debt free. Pay more to the accounts with the highest interest rate, and when one is paid off, add the payment the next most expensive debt. Finally, commit to living within your means and prepare for life’s inevitable financial emergencies.





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    Credit Card Consolidation

    Trying to find ways to fit your credit card payments into your budget?  Tired of paying excessive bank credit card interest rates and late fees?  Think making payments for 25-30 years to pay off your credit card balances is TOO LONG.

    Miami Firefighters FCU has specifically created a loan product to help members stop using their expensive credit cards and pay-down their existing unsecured high-interest debt at a fair rate! Our credit card (debt) consolidation loan allows you to combine your credit cards into a closed end signature loan at a fixed low rate and flexible terms. Since the rate is lower it means the payments are usually lower than you are currently making and instead of paying on your credit card for 25-30 years you will have the entire balance paid off in 3-5 years!

    Why pay higher interest and make more payments each month than you have to?

    • Rate as low as 8.00% APR *
    • Borrow up to $20,000 **
    • Convenient payments through payroll deduction or automatic transfer

    Apply for your loan now   or you may also call us at your convenience at 305.324.4004 or stop by our office.

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    Build your relationship with Miami Firefighters FCU. With our Member Rewards program the more you use your credit union for loans. checking and savings accounts, the more your credit union prospers and grows and this means more and better services and pricing for you.

    * APR – Annual Percentage Rate.  Loan rates, which are subject to change without notice, may vary with respect to your credit history.

    ** The maximum MFFCU unsecured indebtedness of $20,000 per member is inclusive of any Visa credit limit. Credit Union loans are granted on the basis of credit worthiness, ability to repay.





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    Debt Consolidation

    Are you in debt? Struggling with repayments? Need to consolidate?

    A debt consolidation loan may be a solution. Fox Symes is the largest provider of debt solutions in Australia.

    What are Debt Consolidation Loans and what are the benefits?

    A debt consolidation loan may consolidate all your credit cards and unsecured personal loans into a single loan. It can be a better way to manage your debt. You may end up with one manageable monthly payment at a lower interest rate, saving you thousands on interest and possibly shortening your overall repayment period.

    What debts can be consolidated?

    All your unsecured personal loans, credit cards and store cards.

    Is it easy to qualify for a debt consolidation loan?

    Each bank has an eligibility criterion which is used to assess if you qualify for a loan or not. It is highly unlikely you would qualify for an unsecured loan if any of the following applies to you:

    • You have a bad credit record
    • You have a history of late payments
    • You have been bankrupt in the past 10 years
    • You are in default on any other loan repayments
    • You do not have regular employment

    If you don t qualify for a debt consolidation loan, what else can you do?

    If you have been refused a loan or you think you will not qualify for one, there are other options available which you should explore.

    Fox Symes can offer you a range of debt solutions that can help you:

    • Consolidate your debts loans into one easy monthly repayment
    • Lower your Interest Rates
    • Reduce your monthly Repayments
    • Save Thousands in Interest

    Fox Symes is the largest provider of debt solutions assisting over 100,000 Australians each year. Fox Symes has been featured on both A Current Affair and Today Tonight .

    Right now, Fox Symes offers a free, no-obligation over the phone debt consultation to help you determine whether debt consolidation is an option for you.

    If you want to find out more on how it works, view our debt consolidation case study .

    Currently, you must own a property to qualify for a debt consolidation loan with Fox Symes. If you do not own a property, please contact us to discuss other debt solutions to eliminate debt. Solutions may include the below:

    If you are in debt and want to know more about the solutions available to you contact us on 1300 098 127 or fill out the short contact form .





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    Debt consolidation personal loans

    A debt consolidation loan can help you to get out of debt sooner. By combining all your debts into one personal loan you can save on interest repayments. Check out the table below for some of the current deals on the market.

    Choosing a loan to consolidate debt.

    If you are finding it hard to stay on top of all of your loan, credit card and store card repayments, a personal loan could help you to get out of debt sooner and avoid bad credit. To find the best debt consolidation loan it is good idea to use a debt consolidation calculator to work out what your monthly repayments will be before you apply.

    What interest rates will I have to pay on debt consolidation loans?

    The interest rate on debt consolidation loans will depend on a number of factors including whether you are taking out a secured or unsecured debt consolidation loan. A secured loan will usually have a lower rate because you are putting up an asset as security.

    Do these loans have fees?

    Yes. Standard fees on debt consolidation loans include an application fee, loan service fee and default fees if you miss a repayment or don’t make the full repayment amount. You may also have to pay an early termination fee if you pay out your loan early.

    Is it easy to qualify for a debt consolidation loan?

    Each Australian banking provider has its own criteria for consolidation loan qualification so it will depend on the amount of debt you’re in and your credit history. It is unlikely you will qualify for an unsecured loan if you have bad credit history, have been bankrupt in the last 10 years, or you are currently unemployed.





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    Debt Consolidation Loan

    Get a loan. While this may sound easy, it actually can be one the hardest ways to consolidate. However, a debt consolidation loan also will be the best option for your credit in the long run. A debt consolidation loan usually will have a lower interest rate than your credit cards. If you owe more than your current unsecured high credit rating (the highest amount you have borrowed from a lending institution without offering collateral), you probably will have to offer something up as collateral to receive a debt consolidation loan. Most likely, the bank will want something of considerable value with a title or deed that can be held until you repay your debt. People commonly refinance their homes or get second mortgages, and use the equity in their home as that collateral.

    Managing your own debt reduction plan can be very gratifying, and these questions can help you determine if a DIY method is your ticket to a debt-free lifestyle

    Weigh the pros and cons of this debt-relief method before making a decision.

    6 things to look for when choosing a legitimate debt consolidation company.

    There are a lot of misconceptions about the best way to reduce your debt. Understanding what each debt-reduction method really entails can help you make better, more informed decisions as you get started handling your debt.

    Debt consolidation converts multiple debts, typically credit card balances, into a new loan with one monthly payment. This reduces the chances of incurring late fees or overlimit charges when you forget to make a payment on time.

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