Beat Your Debt Today!

Putting Dreaded Credit Card Debt Behind You

Getting rid of credit card debt isn’t really an easy task to accomplish, especially if you have a tremendous amount of credit card debt. Rest assured that you can pay off all your dreaded debt, even if it takes a bit of time.

Your first line of defense in tackling credit card debt should be the art of conversation. You need to telephone each credit card company that you have a debt with in order to inquire about the possibility of getting a lower interest rate on your debt. Not all credit card companies that you speak with will be willing to cut the interest rate on your debt, but nonetheless, it seems like there are always some companies who will cut interest rates for their consumers. It may also be a good idea to send letters to the credit card companies that you have balances with in order to request substantially lower interest rates.

The next thing you should do if you want to put your credit card debt behind you is save up some money to demolish your debt. Y Read full article…

Tags: credit card companies

Posted in Debt Consolidation | No Comments »

More good news on auto loans

The National Automobile Dealers Association (NADA) held its annual convention over the weekend, and almost none of the delegates attended any of the sessions at the four-day event.

That’s probably not actually true, but the only thing more likely to put delegates off attending working sessions than scheduling a convention over a Super Bowl weekend is hosting it in Las Vegas. And guess where NADA located its shindig.

Delighted dealers

One thing’s for sure, the people attending were likely to be in a party mood. The Detroit News sent along a journalist, who peppered his report with words like upbeat, confidence, and good outlook. A few of the points it contained included:

1. Between 2008 and 2011, new car prices leaped to $28,341 from $25,500.
2. Over the same period, the value of incentives fell to $2,680 from $3,018.
3. The average credit scores of those being approved for new-car auto loans declined last year, as lenders have rushed to welcome people with poorer credit.
4. There were 17,538 dealerships nationwide at the end of 2011, down from 17,698 a year before, about 25,000 in 1988, and and 47,500 in 1950.

The News also quoted industry insiders who expected auto sales to jump this year to something between 13.5 and 14 million units.

Read full article…

Tags: Auto, Auto Loans

Posted in Debt News | No Comments »

Monthly pay lasting just 17 days

Workers are running out of money just 17 days after receiving their monthly pay, according to new research by the Halifax bank.

This means that the average UK worker spends half the month worrying about money.

The study, based on the responses of more than 2,000 adults, found that 10 per cent of workers start feeling the pinch just one week after being paid while more than half are struggling by the final week of the month.

Not surprisingly, given this level of concern, the study found that 5 per cent of people check their bank balance at least once a day, while 40 per cent know how much is in their accounts to the nearest £5.

Twenty-two per cent of those surveyed said they check their bank accounts more than three times a week.

Anthony Warrington, director of current accounts at Halifax, said: With mobile banking apps and internet banking, its much easier to stay on top of spending and account activity whilst on the move.

Read full article…

Tags: 17 Days, Days, Just 17, Just 17 Days

Posted in Debt Consolidation Analyst | No Comments »

Payday loans may outstrip credit cards – PwC

Payday lenders could overtake credit cards and become a mainstream method of borrowing, a report by one of the UK’s leading accountancy firms has warned.

PricewaterhouseCoopers (PwC) said that consumers unable to borrow from traditional lenders, including credit card companies, were seeking alternatives such as so-called payday loans.

But while these short-term, high-cost loans have previously been associated with higher risk borrowers on low incomes, the convenience and innovation offered by payday lenders are attracting a broader and more prosperous selection of consumers, at the expense of traditional bank loans.

In its report, Precious Plastic 2012, Simon Westcott, director at PwC, said: “Mainstream lenders need to be aware that what may have begun as a last resort could be an enduring relationship, as consumers are pleasantly surprised at the convenient and innovative service they receive from these smaller, more agile providers.

“As these providers become more conventional, we are likely to see them venture further into the mainstream market with their own credit card, longer term loan products or even current accounts.”

Payday lenders have attracted considerable bad publicity for their high interest rates and tendency to allow loans to roll over, resulting in huge charges for those who can’t afford to repay their debts within the original time frame.

Read full article…

Tags: Credit Cards, Pwc

Posted in Debt Consolidation | No Comments »

Stop The Stress And Get Out of Debt Today

We are told that the economy is making a recovery, but for hundreds of thousands of Americans who tried to weather a financial storm over the past few years, they are facing a mountain of debt. Whether the economy is becoming stronger or not isn’t their issue. It’s the backlog of debt that makes for sleepless nights.

There is a way out, and it is called debt settlement. Credit card debt settlement is a program where creditors agree to settle for less than what is owed – up to 60% can be slashed off the top of what you owe – and reasonable payment systems are put into place. Working with a reputable and professional debt settlement company takes the worry away and gets a plan into action to eliminate debt completely.

Your home is safe and debt settlement will not cost you any upfront fees either. The only way to lose using debt settlement is if you don’t complete the program. Yes, it takes some discipline and you have to tighten your belt, but it is time well-spent. And,

Read full article…

Tags: Debt, Debt Today

Posted in Debt Consolidation | No Comments »