Debt Consolidation

Custom Search
 

Debt Consolidation
Debt Relief
Mortgage
Credit
Bankruptcy
Free Quick and
Creating A Realistic
Hide That Car!
Dealing with 'Thing'itis
Should You Invest
The 5 Secrets
Mr. Cheapie's Frugal
Start Small and
Debt Collectors; And
Bankruptcy, Is It
Top Ten Reasons
What Is A
Is There Any
What Is A
Debt Collectors: Men
Personal Debt Reduction
Take Careful Consideration
Life After Debt
How To Get
Currency Trading Fee
What is Debt
Assess Your Financial
Why You Should
Debt Validation: Do
Bankruptcy: What You
Bankruptcy As An
Bankruptcy: Which
Bankruptcy Abuse
Bankruptcy Reform
Bankruptcy: Who
Taking The Plunge
Bankruptcy Interest Increases
Debt Consolidation Versus
Reduce Your Debt
How to Become
Sitemap
Debt Consolidation
Debt Relief
Mortgage
Credit
Bankruptcy
 
Different Ways Of Dealing With Debt
by Dennis Cary
Bills, creditors, debt collectors. Are you yearning for the days when all you had to worry about was the money in your piggy bank? If so, you are far from alone. Whether its illness, loss of a job, or simple overspending, it happens to the best of

Bills, creditors, debt collectors. Are you yearning for the days when all you had to worry about was the money in your piggy bank? If so, you are far from alone. Whether its illness, loss of a job, or simple overspending, it happens to the best of us. But that doesn’t mean your financial situation needs to go from bad to worse.

Steps You Can Take To Regain Control When Finances Get Out Of Hand...

Developing A Budget: Start by doing a realistic assessment of how much money comes in and how much your spend. List income sources, “fixed” expenses (mortgage or rent, car, insurance) and expenses that vary (entertainment, clothing, recreation). Don’t leave anything out, no matter how trivial it seems.

Obviously, the necessities are your first priority. Then you can prioritize the rest. The bottom line Is, that unless there’s money to cover, you’re going to have to cut back on spending.

Contacting Your Creditors: Many creditors will work with you if you let them know you are having trouble making ends meet. Tell them why it’s difficult for you and try to work out a modified payment plan that reduces your payments to a more manageable level. Don’t let them give up on you – get to them before they resort to collection agency action.

Dealing With Debt Collectors: Nobody wants to deal with the bill collector – least of all you! But, should it happen, be sure you know the rules. The Fair Debt Collection Practices Act is the law that dictates how and when a debt collector may contact you ...

A debt collector may not call you before 8a.m. or after 9p.m ... or at work if the collector knows that your employer doesn’t approve of the calls. Collectors may not harass you, make false statements, or use unfair practices when they try to collect a debt.

Debt collectors must honor a written request from you to stop further contact.

Bankruptcy: Personal bankruptcy is generally considered the debt management tool of last resort because the results are long-lasting and far-reaching. A bankruptcy stays on your credit report for 10 years, making it difficult to acquire credit, buy a home, get life insurance or sometimes even get a job. Learn more about bankruptcy

On the other hand, bankruptcy is a legal procedure that offers a fresh start for people who can’t satisfy their debts. Individuals who follow the bankruptcy rules receive a discharge or court order that says they do not have to repay certain debts. There are two primary types of personal bankruptcy:

Chapter 13 allows you, if you have a regular income and unlimited debt, to keep property, such as a mortgaged house or car, that you otherwise might lose. In chapter 13, the court approves a repayment plan that allows you to pay off a default during a period of three to five years, rather than surrender any property.

Chapter 7 known as straight bankruptcy, involves liquidating all assets that are not exempt. Exempt property may include cars, work-related tools and basic household furnishings. Some property may be sold by a court-appointed official (trustee) or turned over to creditors.

NOTE: You can receive a discharge of your debts under Chapter 7 bankruptcy only once every six years.

Both types of bankruptcy may get rid of unsecured debts and stop foreclosures, repossessions, garnishments utility shut-offs and debt collection activities. Both also provide exemptions that allow you to keep certain assets, although exemption amounts vary.

Personal bankruptcy usually does not erase child support, alimony, fines, taxes and some student obligations. Also, unless you have an acceptable plan to catch up on your debt under Chapter 13, bankruptcy does not allow you to keep property when your creditor has an unpaid mortgage or lien on it.

Being burdened by debt is overwhelming and puts you into a position of great vulnerability. And, clearly, yielding to bankruptcy is an extreme measure that requires a great deal of thought. In the last few years, a record number of consumers have been filing for bankruptcy.

Copyright © Credit and You | All Rights Reserved |

To find out more about bankruptcy, how the most common chapters of bankruptcy work, bankruptcy terminology, and easy steps anyone can take to repair there credit report, visit http://www.creditandyou.com/dealingwithdebt.html it’s a free information website!

 
The site is not responsible for any content in it. E-mail: alldir[at]gmx[dot]com
debt consolidation, home loan, mortgage, debt free, debt help, refinance, equity loan, unsecured, secured debt, bankruptcy, credit card , bad credit, payday, cash advance, cash settlement, line of credit, student loan, interest rate, borrow money, car loan, adverse credit, compensation, quote, credit score, consolidate debt Trimble County Atherton township Idaho Falls Marshfield Canadian Mason Balance of Lincoln township Preston McCormack UT Balance of Montgomery County Scipio town Posey township Henrietta Nashville Dunmore borough Pierce township Francestown town Crooksville village Beaver Dam Whitwell Massena Glencoe village Delta village Max Pocomoke Columbia township Cowley town Shelburn town Bucyrus Springfield city (pt.) USA UK Australia Canada Serbia France Sweden Martinique Morocco Aland Svalbard Albania France Bulgaria Banffshire Caithness Anglesey Surrey Shetland Fife Glamorgan Angus Kirkcudbrightshire Buckinghamshire Montana (MT) Puerto Rico (PR) Alaska (AK) Marshall Islands (MH) Vermont (VT) Puerto Rico (PR) Ohio (OH) New York (NY) North Carolina (NC) Iowa (IA) Kansas (KS) Pennsylvania (PA) Maine (ME) Arizona (AZ) Indiana (IN) Iowa (IA) District of Columbia (DC) Illinois (IL) Michigan (MI) Hawaii (HI)