By Andrew Gordon
What happens to the pharmacist who fills a prescription without a doctor’s signature?
Or to the gun seller who falsifies information on a buyer’s application?
These people are licensed. It means they’ve been trained in how to dispense drugs or sell guns. And it also means that they have a legal obligation to follow mandated procedures.
If they don’t, they could go to jail.
Of course, that’s only if they’re caught ...
This brings us to the mortgage business.
Is there anyone left in America who doesn’t think there was fraud committed by licensed lenders and brokers? And that this fraud took place on a massive scale?
I bet you either know somebody who is in danger of losing their home, or you have heard stories from friends and family of people in this predicament.
I had lunch with a friend of mine on Saturday. He was telling me about his father who bought a house in Florida for more than $300,000. He had been badgered almost every single day by brokers encouraging him to take out a home mortgage. He finally relented.
He was working part-time. How he could qualify for a $300,000 loan is anyone’s guess.
But I think guessing can get us pretty close to the truth. Some of the numbers on the loan application were inflated. They had to be to get the paperwork approved by the bank’s automatic underwriting system.
Now I don’t know this for a fact. And I don’t know who did the inflating – my friend’s father or the broker. But even if it were my friend’s father, I suspect just a little double-checking by the broker could have unearthed much more modest numbers.
My friend’s father has been in and out of the hospital recently. He fell behind on his payments long ago. Now his house is in foreclosure and on the auction block for $50,000. So far, there have been no bids.
This is a tragic situation. And variations of it are being played out all over the country. But the variations can be very different. Some foreclosed homes were vacation homes. Some were new homes. Some were upgrades over previous homes. And some were bought by investors who wanted to sell them quickly for a handsome profit.
We have some very sophisticated buyers caught up in the housing contraction. And some are on the other end of the spectrum. We have wealthy buyers and buyers of very modest means. We have buyers in booming markets (like Phoenix) and buyers in depressed areas (like parts of Detroit and Cleveland).
Some of these buyers are more to blame than others. And I’d say that my friend’s father wasn’t entirely blameless. But regardless of the degree of culpability, all of them were enabled by a supposedly lax lending system. But “lax” doesn’t do justice to what happened.
How about “deliberately sabotaged?”
A memo just came to light that shows just how “lax” those standards were. Its title is “Zippy Cheats & Tricks.” Zippy is Chase’s automatic underwriting system for mortgage loans. Loans must be approved by Zippy to go through.
“Never fear,” says the memo. “Zippy can be adjusted (just ever so slightly.)” All brokers had to do was group tips, bonuses and other stuff into base income. If that didn’t work, says the memo, just inflate stated income by “$500 to see if you can get the finding you want.”
In the interests of disclosure, I have to admit that Chase was the bank that approved my “no-doc” refinancing loan in the mid-1990s.
You see, I’d do anything to avoid paying taxes. (I know I’m not alone in this. I just think that I should get to spend the money I earn ... or at least as much of it as possible.)
Thursday, 3 April 2008
Skinning the Mortgage Market
Monday, 31 March 2008
Beware Payday Loans
Payday Loans: Dangerous Consumer Rip-Off: "Dangerous Consumer Rip-off
Payday loans, also called "cash advance loans," "check advance loans," "postdated check loans," or "deferred-deposit check loans," may seem like an easy solution to a temporary cash shortage, but for many people, payday loans are the beginning of a vicious and very expensive cycle that they find difficult if not impossible to get out of.
Here's an example: Robin was $200 short of having enough money to pay her bills, so she borrowed it from a payday lender who charged her $60 for up to 15 days. Her plan was to repay the money when she received her next paycheck in two weeks. When the time came, she still didn't have enough money to pay off the amount she borrowed plus the $60 fee, so she paid an additional $60 fee and rolled her payday loan over for another two weeks.
The cycle continued, and at the end of six months she had paid $720 in fees and still owed the original $200. Her hopes of getting out from under this black cloud are slim.
The interest rates on payday loans range from 300% to over 1,000%. Compare that to the interest rate on a small personal loan from a bank, which tends to be more than ten times lower than the rates on even the lowest rate payday loans. Even a relatively high-interest rate credit card has a much lower rate than a payday loan.
Who Uses Payday Loans?
Payday lenders target:
* younger consumers with limited understanding of finances
* consumers who are deeply in debt
* consumers who are struggling to meet their day-to-day financial obligations
* those who have a history of using high-risk lenders
Examples of Payday Lenders' Fees
200cash.com will advance you $200 for up to 15 days for a fee of $60. You can get up to four 15-day extensions for $60 each (for a total of $240 in fees). If the fees cause you to have insufficient funds in your bank account, you'll be charged a $25 returned check fee by the company in addition to your bank's returned check fee.
How Do Payday Loans Work?
Typically, you request a payday loan for a short period of time, usually one to four weeks. You show proof of employment and identification and write a postdated check for the full amount of the amount you borrowed plus the payday loan fee, which you leave with the lender. The fee may seem reasonable: $15 to borrow $100 for two weeks, for example. However, the annual interest rate on that loan is 360 percent. It may seem worth it if you're in a bind, but people often extend the loan month after month and end up paying grossly inflated annual interest rates and end up in worse shape than when they borrowed the money in the first place.
Are Their Options to Payday Loans?
The US Federal Trade Commission’s recommendation is to avoid payday lenders. They recommend these alternatives for safer and less expensive loans:
* Contact a local credit union for a small loan.
* Ask for a pay advance from your employer.
* Consider a loan from family or friends and get the terms of the loan in writing.
* Use a credit card advance.
* Request additional time to pay the bill from your creditors instead of taking a payday loan.
* Find out what your options are before you need a short-term loan.
* Look into overdraft protection on your bank account so if you don't have enough funds to cover a check you write, the bank will pay the check and you'll avoid insufficient fund fees and returned check fees.
* See credit counseling.
* Plan ahead to prevent financial emergencies (see below).
Prevent Financial Emergencies
Take a close look at your income and expenses. Track where your money goes and find ways to save. It only takes small amounts in a number of different areas to add up to enough to build a small savings account that you can turn to in a bind instead of turning to high-rate lenders like pay day loan companies.
If you need help preparing a budget, see Budgeting 101 for easy-to-read articles about getting motivated, simple steps for setting up a budget, sample budget worksheets, ideas for finding ways to cut costs and save money, and more.
The Darker Side of Payday Loans
Payday loans are deceptive. Since you're forced to turn over a postdated check, you may be harassed, threatened, or subjected to collection practices. The payday lender may deposit the check before the date you agreed on, causing your check to bounce and forcing you to pay more fees. Because people who use payday lenders are usually in desperate financial situations already, they may have trouble repaying the original loan and they continue to extend it until they've paid more in fees than the amount of their original loan.
The high rates of payday loans make it difficult for many borrowers to repay the loan because they are already in a desperate financial state. They keep extending the loan and end up paying more in fees than they originally borrowed, putting them in worse financial shape than when they started.
Five Investing Headlines for April Fool's Day
Here are Five mutual fund headlines you're unlikely to see anytime soon.
Fidelity to Liquidate 43 "Unnecessary" Funds
Boston-based Fidelity investments today announced that it is taking a knife to its sprawling fund lineup. According to executive vice president Klaus Shave, the firm has come to the conclusion that it simply offers too many funds. In an interview Shave said, "A Nordic Fund? What were we thinking? It's much easier to gather assets in a $30-billion small-cap fund." Shave also sought to debunk rumors that the firm was set to launch a series of funds modeled after the popular "Lord of the Rings" trilogy. "There is not going to be a Fidelity Mordor Fund. I don't know how that story got started. It's just not true," he said.
Vanguard Launches Retirement Funds for Future Centuries
In a bid to literally consign the competition to the dustbin of history, Vanguard's head of strategic planning Xavier Moolah revealed that the firm was launching new retirement offerings with target dates of 2100, 2180, 2225, and 2310. "With life expectancies increasing, your descendants need to plan far ahead," Moolah observed. He added that the compounding effects from investing before you are conceived are even greater than if you were to invest in your childhood. "We believe this new suite of funds demonstrates our commitment to not only young investors, but also hypothetical children," said Moolah.
Ordinary Investor Understands Fund Prospectus
In a startling development, Ira Smolensky of Monmouth, Ill., today became the first person to fully comprehend the language published in a mutual fund's prospectus. "It's better than winning the lottery," said Smolensky, who officials confirmed has not previously been institutionalized. The Monmouth resident, who is slated to be honored at the town's annual Prime Beef Festival, expressed surprise at the discovery of the fund's board of directors. Said Smolensky, "A group of individuals who represent my interests? Who knew?" Meanwhile, fund company lawyers were reportedly meeting to devise ways to ensure nobody would duplicate Smolensky's feat.
American Funds Dumps Portfolio Counselor System in Favor of Star Managers
Los Angeles-based American Funds today announced that it was doing away with its system of running funds with multiple portfolio counselors, opting instead for high-profile "star" portfolio managers who oversee funds individually. To get the effort underway, spokesman Russell Sprout disclosed the hiring of fund management wunderkind Chris Lahiji. Lahiji, the 21-year-old former manager of Frontier Equity (FEFPX) , recently stepped down at his former charge. "Lahiji is a great fit for us," said Sprout. "We've already got too many people with too much experience."
Bill Gross Gives Up: "The Competition Is Too Tough"
With tears in her eyes, PIMCO spokeswoman Tia Dropps announced today that Bill Gross, the legendary manager of PIMCO Total Return (PTTRX) and other bond funds, has called it quits. "The brutality of the bond market and the cacophony of voices claiming their superiority have finally had an impact," said Dropps. Apparently, Gross has come to the conclusion that it's just not healthy to spend so much time worrying about whether PIMCO is on top. "Besides," added Dropps, "with all his competitors comparing themselves to Gross, telling everyone how much better they are, it just wears you out after awhile." She also mentioned the frequent media references to Gross being the Bond King as a factor in the decision. "It's not easy being king," she noted. "He wants to just be a duke or an earl for a while."
Thursday, 27 March 2008
30 Year Home Loans
It used to be the first choice of most borrowers, because since the total payments are spread over a longer period of time with the interest rate set for the entire time of the mortgage. 30 year home loan rates are an industry standard but is it the right choice for you?
The 30 year home loan is an industry standard, but is it the right choice for you? Because the total payments are spread over a longer period of time and the interest rate set for the entire time of the mortgage. This was the first choice of most home owners.
As we mentioned, the plus side for a 30 year home loan is lower monthly payments. This attraction is somewhat dimmed by the fact that you pay thousands extra in interest. But, your interest is 100% tax deductible which does lower your after tax cost. It offers you some flexibility so that if your financial situation changes and you have more money you can pay it off in less than 30 years, this while keeping the low monthly payments. Your payments are smaller so in reality you can purchase a larger roomier home.
To show an example of the interest difference between 30 year home loan rates and one of the other rates. On a 30 year, 100,000 dollar loan using 7% interest rate your monthly payment of interest and principle would be $665.30 dollars. Over the next 30 years you will have paid $139,511.04 in interest alone. Now with a 15 year home loan rate on the same amount you will pay $871.11 per month and over the next 15 years, you would pay $56,799 in interest. This would save you $82,712 dollars.
If you have the will power to invest the savings from the monthly payments, it still could be a good choice to go with the 30 year mortgage. Especially if you can find an investment that the long term payoff matches or exceeds what you would save in a 15 year mortgage. Another factor to consider is how fast you want to accrue equity in your home or to own it out right. 30 year home loan rates take much longer to build equity.
30 year home loan rates are certainly attractive and the vast majority of home buyers get 30-year loans because that is the longest home loan available today. Experts agree if they could get a 35- or 40-year loan, they probably would. There are many other options to consider. Probably the biggest question you have to ask yourself when considering a loan is what are your financial goals? What loan plan will help you the most to reach that goal? It is clearly to your advantage to look into other loan options for the best loan available for you and your financial goals. It may surprise you that because of your personal situation there may be other plans more suitable for you.
Bad Credit Home Equity Line of Credit
Bad credit can increase the difficulty that a homeowner encounters when seeking a home equity line of credit. Bad credit can be the reason for a poor credit score.
What is a credit score? The credit score varies between the values of 300 and 850. The credit score is the creation of the Fair Isaac Corporation. Lenders who arrange for a home equity line of credit use the credit score in order to set the interest rate that will be charged the homeowner.
Homeowners with a low credit score will need to pay higher interest payments. A score above 700 is assurance of good interest rates. The credit score also serves as an indicator of whether or not a lender should accept a homeowner’s application for credit. Decisions on credit limits for the homeowner are likewise based on the homeowner’s credit score.
The credit score is a function of the homeowner’s past line of credit. In the U.S., three different agencies keep a record of each consumer’s line of credit. Those agencies are Experian, TransUnion and Equifax. If a homeowner with a low credit score wants to raise that score, then the homeowner must contact each of those three agencies.
The effort to overcome a record of bad credit and to raise a credit score requires the contesting of false claims that money is owed. If the homeowner can prove that the claim for money is spurious then the homeowner has an opportunity to raise his credit score. This action should be taken if the homeowner who plans to seek a home equity line of credit has a score less than 640. Such a score would be a sign of bad credit.
The contesting of a credit score is not like a shot in the dark. A survey of credit reports in the U.S. showed that 80% of such reports contained mistakes. Thus, a homeowner could have good reason to question the credit score that is being used to determine the interest rate on a home equity line of credit.
The credit score for a couple, a pair that are joint homeowners, is based on three credit scores from the person with the most sizable income. This is the score that the homeowner needs to make correct. Such correction may require a written statement to each of the above-mentioned agencies. Those agencies will then contact the homeowner and indicate if more information is necessary. If the homeowner is lucky, then the credit score will be increased and the interest rate for the desired home equity line of credit will be lowered.
Once the homeowner has a good credit score then he will want to avoid slipping back into that region of bad credit. This means that the homeowners must avoid the sort of spending that carries them to the borders of their credit limits.
Tuesday, 25 March 2008
Buy Cleveland Jonas Brothers Tickets at Quicken Loans Arena
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Tuesday, 18 March 2008
Why Should I Use A Non Profit Debt Consolidation Program?
It is important to realize, the term 'non profit' does not mean free. Non profit means: after all overhead is paid out by a company, the company does not show a profit. Being non profit does not make them a better choice when it comes to helping you consolidate your debts. You should always do your homework and find the company and program that is right for you. Get a few quotes before you decide.
The idea of a non profit debt consolidation program should be to help the consumer become educated about how credit works and provide counseling to help them handle their finances. They also provide services to lower the existing debt and work with creditors to lower your monthly payments. In many cases, you will pay one monthly sum to them and they will disburse payments to your creditors. There will be a fee for this service which will be added to your payment to them each month.
We all know how easy it can be to get off track and spend a bit more than we can afford to have a decently comfortable life. There are times when we don't realize just how much credit card companies charge in interest and late fees. A non profit debt consolidation program will work with your creditors to reduce or eliminate late payment charges and delinquent fees. If our credit becomes damaged we are really in a financial pickle. Without decent credit we are unable to get a mortgage to purchase a home, get any type of loan for that new vehicle, borrow money for your child's education, or that well deserved vacation.
Non profit debt consolidation programs will help you get out of debt and become more educated about debt and how it affects your life, and teach you how to stay debt free. This will hopefully show you how to avoid financial problems in the future. You will receive one-on-one advice from a certified credit counselor who will work with you and your budget to design a payment plan that is unique to your situation. Credit counselors know the particulars of creditor's rules and policies. This gives them an inside track when it comes to negotiating with your creditors.
If you find that you are in debt up to your ears, there had to have been a reason you find yourself in this situation. Perhaps you had a medical emergency and you were unable to meet most of your bills because of the high cost of health care or were not able to work for several months. Maybe the fault wasn't yours entirely, a spouse or child ran up the credit cards beyond what you could reasonably pay and the fees and interest just kept adding up.
Whatever the reason, you find yourself in a financial bind and don't know which way to turn to get out of debt. A non profit debt consolidation program may be your best bet. Although it will cost a fee each month for this service, you will see a vast improvement within just a few months and before you know it you will have your outstanding debt paid off.
As I mentioned before, do your homework and do not take a non profit debt consolidation program at face value. We hate to think that there are companies out there that are not honest, but we know they exist. My advice is to get references, if possible, before you hand your money over to anyone.
Who Will Benefit From A Non Profit Debt Consolidation Service?
Anyone who finds themselves so deeply in debt that they are no longer able to keep up payments to creditors while the fees and interest rates just keep accumulating, is a prime candidate for a non profit debt consolidation service. Some of the people who would benefit from a non profit debt consolidation service find themselves on the verge of foreclosure and/or bankruptcy.
When you contact a non profit debt consolidation service, you will be seeking the advice of a Certified Credit Counselor. The counselor will help you design a payment plan tailored to your needs. This service also includes working with your creditors to waive, or reduce fees and interest rates and in some cases they will be able to reduce the debt owed by 50 to 80%. This means a huge savings for you any way you look at it.
The objective of a non profit debt consolidation service is to help you save or repair your credit rating and keep you from foreclosure or bankruptcy. The credit counselor knows the rules and policies of your creditors and are able to negotiate the best possible deal with your creditors. You will be able to reduce the amount you are paying to your creditors each month which will lessen your burden and allow you to breathe easier knowing you will not have to struggle so hard to meet your monthly bills.
It is important to remember that a non profit debt consolidation service is usually not free. You will pay them a monthly fee to provide this service for you. Once you have agreed on a plan you will pay one monthly payment to cover all of your debts. This will include a fee for their services. The non profit debt consolidation service will see that all of your payments are made on time. You will need to do nothing more, and will still receive monthly statements from your creditors and a monthly statement from the debt consolidation service listing the creditors that were paid and how much.
While it is worth the fee to get out and stay out of debt, as with any business you need to beware of scams. Do your homework and make sure you are dealing with a reputable business. You may want to hire a company that belongs to the Better Business Bureau as they are scrutinized more closely than other companies.
Most of the non profit debt consolidation service companies offer educational programs to teach consumers how to stay out of debt and still live a good life. They also offer information on the way credit works and how you can make it work for you. Everyone needs a good credit rating to be able to get anywhere in this world.
The certified counselors should be available to answer any questions you may have, whenever you need to ask them. Most debt consolidation companies have a website where you can access your account 24 hours a day, seven days a week. You will be able to see the progress you are making as bills are paid off and you will have the peace of mind knowing you are getting out of debt.
Your monthly payments will not change until you are finished with the program. Once a bill is paid in full, the extra amount will go onto another bill to pay it off, and so on, until you are debt free.
Where Can I Find Home Mortgage Loan Rates And Non Profit Debt Consolidation?
There are hundreds of debt consolidation companies that will help you pay off your bills by lowering your payments and interest rates. For a fee they will put you on a debt consolidation program to systematically pay off all of your debts. What if you are about to lose your home to foreclosure?
This is where you may want to find a bank or lending institution where you can get your home remortgaged to catch up on your back payments and pay off your outstanding debts. You will also be paying one payment per month with no fees to pay. If you want to get your bills reduced and waive interest rates, sometimes the lender can help you with this, or you are perfectly capable of negotiating with your creditors yourself.
By the time a debt is in collections, it is pretty much lost to the creditor. Other entities have purchased your debt and will try to get as much as they can out of it. When you contact them with a price you can afford to pay, the chances are that they will accept the offer. If you have quite a few bills in collections you may be able to pay these off at a fraction of what they are asking.
To see where you stand you should get your credit report and review it. There are times when items are added to credit reports that do not belong to the consumer. If you see anything that doesn't look right, you need to contact the credit reporting agency and let them know which of the items you dispute. They will have to prove that the debt is indeed yours. You may find that you don't owe as much as you thought.
There are also establishments that offer home mortgage loan rates and non profit debt consolidation. Home Finance of America, will help you with a debt consolidation loan even if your credit is not perfect. The loan will be based on the equity you have in your home. Home Finance of America will help you get out of debt, and it will be up to you to stay out of debt and work on those bad credit habits you have picked up over the years.
Most of the time bad credit is occurred when we attempt to buy on time those things we feel we cannot do without. Most of the time we don't take into consideration the interest that is tacked on for the privilege of paying on time. Credit cards are another way we slip so deep into debt. Plastic is a convenience that allows us to play now and pay later. By doing so we are adding on more debt at higher interest rates. Soon we find we are so overwhelmed by debt we can't see any way out.
That is when it is time to turn to a company with low home mortgage rates and non profit debt consolidation to get straightened out financially before your credit is ruined.
When Should I Consult Debt Consolidation Services Non Profit Companies?
There are certain things that we need in our lives. I am not talking about the things we want, but the things we need. We need a home, enough food to feed ourselves and our families. Heat in the winter and electricity so we may run our furnaces or see what we are doing at night. A vehicle so we may get to and from work to pay for our necessities. Everyone's list is different, but I'm sure we all agree on one thing, we all have basic needs that we cannot live without.
In this age of free credit for all, it is easy to get in over your head and a financial setback like an illness or loss of a job can really get you in deep financial trouble. Finances can get so bad that you can't afford to pay mortgage payments and get behind. Credit cards are easy to over extend our finances on. They are so convenient we often forget about the high interest rates that come along with our credit card payments.
If you find yourself in a debtors prison you should really look into a debt consolidation services non profit company. Here are some reasons for you to look into a debt consolidation program.
1. Certified Credit Counselors will ask you a few questions about your delinquent credit accounts and how much you make a month.
2. The credit counselor will help you to design a payment plan tailored for your situation.
3. Credit counselors will work with your creditors to waive or reduce fees, interest rates and in some cases they will be able to reduce your debt by 50 to 80%.
4. You will pay one payment each month to the debt consolidation services non profit company and they will disburse payments to your creditors.
5. You may need to pay a fee for this service. This is something you will need to get straight before you begin payments.
6. You will breathe easier knowing your bills are being paid and you will soon be out of debt.
It is important to remember that you will usually need to pay a fee for these services. For this fee the debt consolidation services non profit company will see that your bills are paid on time. You will need to do nothing more than send them one payment. You will still receive monthly statements from your creditors and a monthly statement from the debt consolidation company showing when your payments were made and how much was paid.
Make sure you do your homework before you hand your money over to any debt consolidation company. You should be on the same page when it comes to how much the fee will be for them to perform this service. You also need to make sure they will have the payments to your creditors on time. You want to repair your credit, not ruin it.
Most of the debt consolidation service companies offer educational programs to teach consumers how to stay out of debt and still live a good life. They also offer information on the way credit works and how to make it work for you.
What Is Non Profit Counseling Debt Consolidation?
We try to stay on budget but there are times when a budget just doesn't work. In times of crisis we may find ourselves behind in our payments and our source of income has been suddenly interrupted. An unforeseen illness or accident can cause a financial setback. As a major bread winner, you are unable to work because of injury, or the mounting medical bills have put you behind and your bills are mounting. This is a setback that you may not be able to recover from on your own. If you find yourself in a financial bind and don't see any way to pay your creditors and save your credit rating. It may be time to look into non profit counseling debt consolidation.
On first contact you will be speaking to a Certified Credit Counselor who will ask you a few key questions about your finances and income. After reviewing your application, the credit counselor will suggest a variety of options for you to clean up your debts. They will work with you to formulate a debt consolidation program tailored to your individual needs.
You will be sent a simple agreement stating the terms you have agreed on over the phone. If the agreement is correct, you will sign it and send it back to the non profit counseling debt consolidation company. Once they receive the signed agreement, they will get your plan underway.
They will begin by contacting your creditors to negotiate lower interest rates and to lower or eliminate late fees. They will also work to get your outstanding debt lowered by 50 to 80%. Once it is established how much of a reduction you will receive the credit counselor will give you an amount you will pay to them each month. They will take your payment and disburse the money to each of your creditors.
It is important to know that non profit does not necessarily mean free. Most of the time the non profit counseling debt consolidation companies will charge a fee for their services. Your monthly payment will have the fee added in. You need to be clear on the amount they expect to be paid, and when they will be paying your creditors. Do your homework, there are some disreputable companies out there so make sure both sides are clear on the terms of the agreement before you send any money.
The credit counselor should be reachable if you need to ask any questions about your account and should be there every step of the way, until the debt consolidation program is finished. Many times your credit counselor will have access to teaching materials to help improve the way you look at and use credit, and how to improve your finances and stay debt free. As your debts are paid you will learn a great deal about the financial world.
You will be surprised at how quickly your debt will be reduced. Your creditors will still send you monthly statements. And the non profit counseling debt consolidation company will also send you a monthly statement with a breakdown of the debts that have been paid on. Your monthly payments will not change over the course of the debt consolidation program. Once a debt is paid in full, the money from that payment will go toward your other debts to pay them off even faster.
What Is A Non Profit Debt Consolidation Firm?
A non profit debt consolidation firm is a company that will help you get out of debt for a fee. Lets take a look at the process you will go through when you decide to sign on with a non profit debt consolidation firm. This is just and overview of the basics.
Steps to becoming debt free.
1. You will fill out a form with all of your information. This can be accomplished on line or by calling the firm directly.
2. Once your submission has been reviewed a certified credit counselor will contact you and go over your information with you to check for errors. When verification is completed, the credit counselor will talk to you about the results you desire through the program. The counselor will give you information on education and budget options and discuss alternative ways to get rid of your debt. If debt consolidation is an option you want to pursue, the counselor will provide and estimate of the monthly payments you will need to make and how much you could save in interest and fees if you consolidate now.
3. The counselor will help you every step of the way. You will work with them on an affordable and practical spending plan, They will set goals and teach you how to obtain them, and teach you different ways to reduce spending, and other financial strategies to help you get on track. Non profit debt consolidation firms will usually send you written information on the ideas discussed with you on the phone and other services they can provide.
Counseling and any information about the best ways to become debt free are usually provided free of charge. The counselors are dedicated to working with a client for as long as it takes them to become debt free and make sure you know how to remain free from debt.
Once you and your counselor agree upon the best plan for your circumstances, You will need to take a few more steps to complete the process.
The Debt Management Program:
1. An agreement will be drawn up and sent to you containing particulars of the services you have chosen to take advantage of from the non profit debt consolidation firm. This paperwork includes the date your payments to debtors will be sent. You will need to review this contract for accuracy, sign it and return it to the non profit debt consolidation firm. When the agreement is received by the debt consolidation firm they will contact your creditors to verify that the balances are correct. Each of your creditors will be sent a proposal stating that they agree to work with you on your debt consolidation plan, and to verify new, lower interest rates and exact monthly payment amounts.
2. You will make one payment every month to the debt consolidation firm before the chosen disbursement date. The firm will forward your money to each of your creditors as agreed upon. You will still get statements from your creditors and you will receive notice from the firm of payments made.
3. Your monthly payments will remain the same while you are enrolled in the debt management program. As each debt is paid off the additional money will be applied to balances on other credit accounts. This will help pay off your debt sooner.
What Is A Non Profit Debt Consolidation Firm?
A non profit debt consolidation firm is a company that will help you get out of debt for a fee. Lets take a look at the process you will go through when you decide to sign on with a non profit debt consolidation firm. This is just and overview of the basics.
Steps to becoming debt free.
1. You will fill out a form with all of your information. This can be accomplished on line or by calling the firm directly.
2. Once your submission has been reviewed a certified credit counselor will contact you and go over your information with you to check for errors. When verification is completed, the credit counselor will talk to you about the results you desire through the program. The counselor will give you information on education and budget options and discuss alternative ways to get rid of your debt. If debt consolidation is an option you want to pursue, the counselor will provide and estimate of the monthly payments you will need to make and how much you could save in interest and fees if you consolidate now.
3. The counselor will help you every step of the way. You will work with them on an affordable and practical spending plan, They will set goals and teach you how to obtain them, and teach you different ways to reduce spending, and other financial strategies to help you get on track. Non profit debt consolidation firms will usually send you written information on the ideas discussed with you on the phone and other services they can provide.
Counseling and any information about the best ways to become debt free are usually provided free of charge. The counselors are dedicated to working with a client for as long as it takes them to become debt free and make sure you know how to remain free from debt.
Once you and your counselor agree upon the best plan for your circumstances, You will need to take a few more steps to complete the process.
The Debt Management Program:
1. An agreement will be drawn up and sent to you containing particulars of the services you have chosen to take advantage of from the non profit debt consolidation firm. This paperwork includes the date your payments to debtors will be sent. You will need to review this contract for accuracy, sign it and return it to the non profit debt consolidation firm. When the agreement is received by the debt consolidation firm they will contact your creditors to verify that the balances are correct. Each of your creditors will be sent a proposal stating that they agree to work with you on your debt consolidation plan, and to verify new, lower interest rates and exact monthly payment amounts.
2. You will make one payment every month to the debt consolidation firm before the chosen disbursement date. The firm will forward your money to each of your creditors as agreed upon. You will still get statements from your creditors and you will receive notice from the firm of payments made.
3. Your monthly payments will remain the same while you are enrolled in the debt management program. As each debt is paid off the additional money will be applied to balances on other credit accounts. This will help pay off your debt sooner.
What Does Genius Debt Consolidation Non Profit Mean?
Genius debt consolidation non profit company refers to a company that offers a wide variety of services. I have compiled a list of genius debt consolidation non profit companies.
The List:
- Family Credit Help- Charges no setup fees for credit counseling, offers a no obligation budget and credit counseling session.
- Nano Debt- Can consolidate your debts in as little as 10 seconds. Credit counselors can work with your creditors to reduce your debt up to 80%. You will get a free quote in seconds on the website.
- Debt Consolidation- The world leader when it comes to debt management and credit counseling, debt consolidation, debt reduction. They can make your debt a memory.
- Counsel Debt- Will give you an online quote in two minutes with no obligation and no credit check.
- Christian Debt Consolidation Services- Free, no obligation quote, Will lower your monthly payments, reduce or eliminate high interest rates, allow you to make 1 affordable payment. A member of the BBB.
- Excess Debt- Offers a great alternative to bankruptcy. They will work with your creditors to reduce your debt amounts by 50-60%. Debt consolidation. Only work with those who have over $10 thousand in debt.
- Freedom Debt Relief : Works only with those who owe more than $15 thousand in outstanding debt. Can cut your debt and payments up to 50%. They have plans to get you out of debt within 12-30 minutes. You get a quote in less than 10 minutes. No fees are paid unless they save you money.
- How 2 Solve Debt- Debt consolidation search.
Many of these sites will offer links to other sites that will also be helpful in getting your credit back on track. These services include, mortgages lenders who will help those with less than perfect credit obtain money to keep from losing their home to foreclosure and stop bankruptcy. To build up your credit you may want to open one credit card account and make sure the payments are paid on time. Credit cards most usually do report to credit bureaus.
There may come a time in our lives when, through extreme circumstances we find ourselves in deeply in debt. Before we turn to bankruptcy it would be in our best interest to figure a way to solve our monetary problems and keep our credit from being ruined. If we see that we cannot keep up with our mortgage payments or other bills are mounting up it is a good time to consider remortgaging our home and try to get a better interest rate. This could be enough to pay all of our bills up to date, save our homes and hang on to our good credit rating.
Don't forget to check out the genius debt consolidation non profit websites before it's too late.
What Can A Credit Card Counseling Profit Company Do For Me?
Are you so far in debt you can't see any way out? Are you in danger of loosing your automobile or even your home? Now is the time to take action before your home goes into foreclosure or you have to resort to bankruptcy.
Credit card counseling debt consolidation non profit companies may be the way for you to pull yourself up out of the crushing weight of your bills and be able to breathe freely again knowing you are taking steps to pay off your debts.
You ask what a credit card counseling debt consolidation non profit company can do for you? Let me count the ways.
1. Eliminate your credit card debt by up to 70%.
2. Phone calls from bill collectors will stop.
3. Consolidate your bills into one low monthly payment.
4. Instantly reduce your debt and interest charges.
5. Credit Counselors will work with your creditors to bring down your payments.
6. Relax and let the credit card counseling debt consolidation non profit company take care of disbursing payments to your creditors.
7. You pay one payment to the company and they will see that your bills are paid on time.
8. You will receive a monthly statement of the bills that have been paid and when.
9. You will still receive statements from your creditors.
Credit cards normally have an annual interest rate between 18% and 24%. If you make only minimum payments you will be still paying on them in 30 years. When you take advantage of the services of a credit card counseling debt consolidation non profit company you will be able to reduce your interest rate and eliminate late fees in some cases. Your creditors will get their money and you will save or at least repair your credit rating. Everyone wins and you will reduce the length of time it will take to get out of debt.
One important thing to remember is that, as with any type of business, you need to do your homework before you enter into an agreement with a debt consolidation company. There have been some of these companies who have taken the money from clients and used it for their own designs, stating that the monthly amount was a fee for their involvement. Others have not paid the bills on time and the client's credit was ruined.
Make sure you are clear about how much they will charge for a fee. You will also need to make it clear that you expect the money to be disbursed to your creditors as soon as they receive it. Debt consolidation can be a godsend but you need to make yourself clear and make sure they are clear about how they do business.
In the long run, as long as you are aware of the problems with some of these companies you have the advantage. A reputable credit card counseling debt consolidation non profit company can help you get back on track with your credit and any other financial problems you may be having.
Tell Me About Non Profit Debt Consolidation Programs
Non profit debt consolidation programs are for those of us who find ourselves so deep in debt there is literally no other way out. You will either need to negotiate with your creditors yourself or hire a firm that knows the ins and outs of how credit works.
It is important to know that non profit does not always mean free. Most non profit debt consolidation programs ask a fee for their services. This is not a bad deal as long as you have a clear understanding of how much you will be paying to them over the amount you will need to pay on your debt.
When you first contact the non profit debt consolidation company, you will be speaking to a Certified Credit Counselor. The counselor will ask a few questions about your outstanding debt and your monthly income. Once you have given the information, the counselor will suggest various plans with you for debt consolidation. Both of you will decide on the best plan to suit your individual situation.
A simple agreement will be drawn up and sent to you. If you fell the terms of the agreement are correct, you will sign it and return it to the non profit debt consolidation company. You will then be enrolled in a non profit debt consolidation program. The credit counselor will work with your creditors to negotiate lowering or eliminating your late and overlimit fees. They will also work to reduce the amount of your debt by 50 to 80%.
You will pay one fee to the non profit debt consolidation program and they will disburse payments to your creditors. Your creditors will be paid by the date agreed upon and you will see your debts melt away month by month. You will still receive monthly statements from your creditors, and a monthly statement from the debt consolidation company outlining the payments made that month.
Before you send any money to a non profit debt consolidation program, make sure you are working with a reputable company. Just like every other business out there it is possible to find some bad eggs. You need to be clear on the exact amount they will charge you to perform this service. You also need to be sure they will have your payments in to the creditor in time. You are trying to repair your credit, not make it worse.
Your monthly payment will stay the same throughout the course of your non profit consolidation program. When a debt is paid in full the extra money will go on another debt so that you will realize a much quicker payoff.
Most non profit debt consolidation programs have educational materials to help you learn:
- How to set, plan and achieve your goals.
- How to develop a plan you can live with.
- How to Get more out of every dollar by increasing your spending power.
- How to save more of your hard earned money.
- How to organize your financial records.
They have educational topics like these and many more. For the most part if you find yourself deep in debt and need help it would pay for you to get in touch with a reputable non profit debt consolidation company and get your finances in shape.
Tell Me About Non Profit Debt Consolidation Companies
Non profit debt consolidation companies are designed to help consumers get out of debt and stay out of debt by helping them to pay off all debts in a timely fashion and repair damaged credit. They also have materials available to teach clients how to make credit work for them and the strategies behind building a healthy credit rating.
Your first contact with a non profit debt consolidation company, will be speaking with a Certified Credit Counselor. They will ask you several questions about your debts and the money you earn. They will also need to know what you hope to achieve through a relationship with their company. After a review of your application the credit counselor will put together a few strategies for debt consolidation based on your answers. Both of you will come to a decision on the best course of action. Once you have decided on the program and the monthly amount you will pay, you will sign a simple contract with the non profit debt consolidation company and the plan will be set in motion.
Most non profit debt consolidation companies charge a fee for their services. This fee will be incorporated in the monthly amount you will remit to them for distribution to your creditors. You will send them one sum and they take care of paying your creditors. Non profit debt consolidation companies offer services to lower your monthly payments to creditors, reduce or eliminate interest fees. Most of the time they are able to cut the amount of the debt 35 to 75%.
As you can see this can save you a bundle of money and systematically eliminate your debts. These companies also offer educational materials so you can learn how credit works, how to keep a good credit rating, and how you can be debt free and still live a good life. Many of these non profit debt consolidation companies offer strategies to build your credit to AAA standards. A good credit counselor will be able to keep you out of foreclosure or bankruptcy by finding a way for you to keep your home, car, and get you out of debt for good.
Most non profit debt consolidation companies offer an online site where you are able to view your account 24 hours a day-seven days a week. You can view your payment history and see the progress you are making in paying off your outstanding debts. Even though you are working through a non profit debt consolidation company to pay your creditors, you will still receive a monthly statement from them, as well as, a monthly statement for the debt consolidation company stating all payments made.
Employing a non profit debt consolidation company will help you to breathe easier, knowing your bills are being paid on time and you are not behind in your payments. You will be amazed at the speed in which you will be able to climb out of the pit of debt you find yourself in.
These companies also have several payment options from which to choose: Money order, cashier check, money gram, express payment, western union, military allotments, automatic withdrawal, pay-by-phone, personal checks etc.
If you are in debt and you don't know which way to turn, look into non profit debt consolidation companies. I'm sure you will be glad you did.
Consolidation Debt Programs In Illinois That Are Non Profit
There are a couple of consolidation debt programs in Illinois that are non profit institution. We will take a look at both and explore what type of services they have to offer.
Debt Counseling Corp., is a non profit organization with several services for those who are thinking of debt consolidation. This debt consolidation firm offer the following services:
1. Free debt analysis
2. Free educational services and materials
3. Free seminars
4. Free debt and credit counseling
5. Free assistance to help you realize what your long and short term goals are
6. Free budget planning tailored for your needs
7. Work to reduce interest rates on debts through the debt counseling program
This site also offers articles and newsletters to help you learn about the latest tips and information on how to manage your money.
Franklin Debt Relief offers:
1. Credit card debt settlement and reduction (as much as 50%)
2. Services to reduce debt
3. Debt settlement consolidation to avoid bankruptcy
4. Helps you get out of debt for only half of what is owed
5. Works to get interest put aside
6. One convenient monthly payment (they will disburse payments to your debtors)
Christian Debt Consolidators is another consolidation debt programs in Illinois. This site offers:
1. Unsecured debt consolidation
2. Negotiation with creditors to lower interest rates
3. Settle IRS debts
4. Provide financial planning that is suited to your individual needs
5. One affordable payment from you and CDC will see that your bills are paid on time
6. Professional counselor is available to help any way they can and to answer any questions you may have.
7. No hidden fees
8. Pay off your debts quickly
9. Provide a solid payment plan that you can live with
10. Will work with you if you are finding it hard to pay the amounts you set up with them, and try to work out a plan more suited to your capabilities.
Christian Debt Consolidators offers a solid debt settlement solution by working to reduce credit balances 50-75%. This alone will save most clients thousands of dollars and cut the time you will be paying off each debt.
With all the credit given out to any who have a credit rating, it is no wonder we find ourselves so deeply in debt. Many people feel they can find no way out of their mounting debt. We all need a roof over our head and food to eat, it is even necessary to have a vehicle in order to travel to work. I feel that a telephone is a big necessity and as a writer my computer is a necessity. I'm sure we can live without trips to tropical places and diamond rings. If you are in debt perhaps it is time to look at necessities vs. things we could live without, even if we don't want to. Most of us have stretched budgets and strained wallets. Credit is pretty much a way of life for this day and age. If you have poor credit you are pretty much stuck.
Using debt consolidation programs in Illinois that are non profit, will allow us to keep our necessities and credit rating. It's a win/win situation.
Nonprofit Organization Credit Counseling Debt Consolidation
A nonprofit organization usually will have two main features associated with it: credit counseling and debt consolidation. This article will focus on explaining the difference between the two primary functions of a nonprofit debt consolidation company along with the importance of using a nonprofit debt consolidation company.
The first man function of a nonprofit debt consolidation company is debt consolidation. This is important because many people will often have many different credit cards and different debt associated with each particular card. If you are carrying a balance on four or five different credit cards and each one has a different interest rate and a different monthly minimum payment, how are you able to keep track of all of these different payments along with how much you owe on each of them? Debt consolidation is important as the nonprofit organization will work with the creditor to lower interest rates along with your monthly payments and will consolidate all of this into one simple payment for you. Much of the financial stress associated with debts comes from having the debt as well as how much work it takes to manage the debt. Most people are struggling to manage the debt so the benefits of having one simple payment are great.
The second main function of most nonprofit debt consolidation companies is to focus on credit counseling. It is important to work on consolidate your debt so that it is manageable but one of the main keys to take out of this article is to also look at how to manage the behaviors which created the debt in the first place. If you'll work at managing and paying off the debt, how are you able to make sure that this situation does not happen again? An example for you to consider: many individuals have done debt consolidation loan using their home equity to save themselves money every month only to find themselves in a similar situation two to five years down the road. Credit counseling will help you in learning how to manage your debt more wisely and to prevent the situation from ever occurring again. These individuals are experts in this particular scenario and taking advantage of their expertise can allow you to make better decisions in your future. Credit counseling is usually free for you to use as well when working through a nonprofit organization.
Depending upon which nonprofit organization with credit counseling and debt consolidation you use, there may be other functions which the organization has to offer. It is worth asking the question as there are different features and benefits which you can have in using different organizations. Some offer investment advice so that as you learn to manage your credits you can also learn to budget and also prepare for the future I started to save more money. This can help prevent a future situation and it will go along with working towards rebuilding your financial life.
Hopefully this article on nonprofit organizations with credit counseling and debt consolidation has given you an idea of what a company has to offer. These are the two main functions in every company but each nonprofit organization also has other offerings to ask about.
Nonprofit Debt Consolidation
This article will explain why you should look at using a nonprofit debt consolidation company when looking to repay your debt with one monthly payment. This article will give you a company name which you can look into if needed but the important thing to remember is that a nonprofit will normally charge lower fees than a for profit debt consolidation company will.
Nonprofit debt consolidation usually is much better and affordable for-profit debt consolidation companies because they charge lower fees. One problem when looking at for profit debt consolidation companies is that there have been many scam artists and this is a problem that is also true with nonprofits debt consolidation agencies so you will want to make sure to check out how long the company has been in business before using them and giving them your sensitive personal and financial information. You can also check with your local Better Business Bureau to see if any complaints are filed against the company you are thinking of working with.
A nonprofit debt consolidation agency can help you in a number of different ways. They can help you develop a repayment plan for your debts by talking with companies to lower your payments potentially in return for receiving their money over a greater period of time. This can easily help most families or households because there is one single payments and it is usually based upon how much money is made each month. Usually when someone goes to a nonprofit debt consolidation agency, he or she goes at a point when the debt is overwhelming and takes up much of the available income that that person makes. A nonprofit debt consolidation companies should look to have you repay the bills in a manner which still allows you to live your life in a comfortable fashion.
Here is the name of a very good company which you can look into for an example of an outstanding nonprofit debt consolidation agency. This company's name is Credit Counseling Services. The company has been around for many years and is the second largest nonprofit debt consolidation company in the country. They offer a great many services beyond just debt consolidation and it would be worth your while to ask one of their counselors if you are in there getting help for an evaluation of your financial situation.
Nonprofit debt consolidation can be very good for you as you will often receive free credit counseling and budget management included with your debt consolidation plan. This is usually a very good deal but you will want to also check out what fees are then associated with the debt consolidation plan. Some nonprofits will make up for the free services with higher costs and interest rates associated with the debt consolidation plan.
Hopefully this article on nonprofit debt consolidation companies is giving you an introduction to what one is like. A nonprofit debt consolidation agency can be a great move for you if you are overwhelmed with debt but you must make sure to do your background work. Remember that if it looks too good to be true it probably is. You can use the example of Credit Counseling Services if you do not know which company to use.
Nonprofit Debt Consolidation Company
This article will focus upon what you should look for when looking for a debt consolidation company. The first part is article will talk about what a nonprofit debt consolidation company is and the remainder of the article will then focus on what you should look for.
A nonprofit debt consolidation company is a company which focuses upon helping people manage their debt and pay it off in a responsible manner. There are millions of individuals these days who find themselves in a deep financial hole as a result of overspending on credit cards or other forms of consumer debt. If you find yourself in this situation, do not despair as you are taking the first step towards regaining your financial future. A nonprofit debt consolidation company is a good company for you to work with as there are normally lower fees and charges associated with working with one of these companies versus a for-profit debt consolidation company. What a debt consolidation company does is to talk to creditors on your behalf and help negotiate lower monthly payments on these different bills to a manageable level. You'll often consolidate all of your monthly bills into one monthly payment and you deposit money with the nonprofit organization each month so that they can pay the different bills for you. This helps many individuals as they are struggling both with the debt as well as managing a number of different payments which they have.
When you are looking for a nonprofit debt consolidation company to work with, you may want to work with one within your area. There are many different nonprofit debt consolidation companies you can work with online but it may be easier for you to work with one where you able to down face-to-face with a debt consolidation expert. There are also many scam artists out there so this could help you prevent a potential loss on your part. You'll want to check into how long the company has been around as well as what kind of services a nonprofit debt consolidation company has to offer. Most nonprofit debt consolidation companies will offer credit counseling and debt consolidation right off the bat. You may want to check into budget management as well as other financial courses which are offered through the nonprofit. This crisis could offer you the opportunity to make some very favorable changes within your financial life if you work on it the right way. There are many different services and this is the point of another article on this website which talks about nonprofit debt consolidation services.
Hopefully this article on nonprofit debt consolidation company has given you some insight into what to look for as low as what the company really does. This may seem overwhelming at first but taking the time to learn more about the topic and about a company can have a major impact on the success of your debt consolidation plan and putting yourself in a better situation.
Nonprofit Credit Card Debt Consolidation
When you are looking at working with a company on consolidating your debts, this can include all kinds of debt including credit card debt. This article will focus on nonprofit credit card debt consolidation along with other types of debt which can be included within your debt consolidation plans. The first part of this article will focus upon nonprofit credit card debt consolidation and the second part will explain how you can do this yourself as well.
Nonprofit credit card debt consolidation is something which any individual struggling with debt consolidation should look into. Interest rates on credit cards can range anywhere from 14% higher. It has been noted by that one credit card has seen an interest rate around 45%. One of the struggles which many individuals have is that the rates on credit cards are so high that it is all that they can do to make the minimum monthly payment. If you only make the minimum monthly payment on a credit card, it will take you roughly 25 to 27 years to pay off a credit card bill. You need to take additional steps to help you pay off your credit card debt and this is where nonprofit credit card debt consolidation comes into play. Interest rates on credit cards can be negotiated and this is where using a nonprofit debt consolidation company can have a huge impact. They will negotiate with your credit card companies to lower your interest rate to save you money every month. Credit card companies are interested in making as much interest as possible but the companies are also very concerned with receiving the money back which they have loaned out. They will be willing to potentially negotiate with a nonprofit debt consolidation company on the good faith that you will be paying back you credit card debt.
Nonprofit credit card debt consolidation is something which a credit counseling agency can do but you can also look at doing this yourself if you are struggling to put money together. You may want to call your credit card companies directly and ask if they can lower your rate if you create a payment plan but this will entail them closing out your credit card. This may be something to think about if you have no money but the nonprofit debt consolidation companies do have great experience and their fees are usually justified when working to pay off your credit card debt. You may want to look at the fees as an investment on paying off your credit card debt.
Hopefully this article on nonprofit credit card debt consolidation has given you some insight into what must be done. Credit card debt is one of the greatest forms of debt in America and you need to take steps to work on. This is something that you can do yourself but using a nonprofit debt consolidation company can make sense as they have great experience in working with creditors to pay off bills and creates monthly budgets for you.
Nonprofit Debt Consolidation Services
This article will focus upon nonprofit debt consolidation services and some of the different options which are available to you. When you think about nonprofit debt consolidation services, you often will think solely in terms of credit counseling and debt consolidation. These are the two main functions of nonprofit debt consolidation companies but there are other options available to you as well. The first paragraph of this article will speak quickly on the main nonprofit debt consolidation services and the second paragraph will explain a little more on other services which offered through a nonprofit debt consolidation company.
Thinking of nonprofit debt consolidation services usually brings to mind debt consolidation and credit counseling first. These are the most important parts of a debt consolidation company as these help the most people. The consolidation involves combining all of your debt into one single monthly payment for you. You often will pay a nonprofit debt consolidation company a lump sum each month and this money will be disbursed by the nonprofit company to your various creditors. Credit counseling is used to help people recognize what behaviors caused them to be in a situation they are currently in and how they might change this. This can include learning how to better manage your credit along with how to spend when using credit.
Other nonprofit debt consolidation services which are available include budget management as well as financial education. Many people who get themselves into debt do not have a budget in place to make sure that they are spending only as much as they can earn. This is an essential skill which many individuals are lacking and the high credit card debt can be traced back to this. Some nonprofit debt consolidation companies also offer financial education courses. These can include some of the previously listed topics such as budget management or credit counseling but this could also include learning about retirement and other financial topics which are often put back when thinking solely in terms of how to get out of your debt. Not many nonprofit debt consolidation companies offer this service but it can be very valuable to you. They are able to understand where you are coming from along with where you would like to go. You have been able to open up to an individual about this once before and it can be hard to do this to a second individual even if this individual will help build your financial future.
Hopefully this article on nonprofit debt consolidation services has given you a little more insight into what a nonprofit debt consolidation company can do for you. You need to think beyond just debt consolidation when looking into how to manage your debt but also how you can prevent the situation from happening in the future by taking charge of your financial education. This may be a tough point in your life but you can also regard this as an opportunity to learn more so that you are at better able to run your financial life in the future.
Nonprofit Debt Consolidation Loan
This article will focus upon how to obtain a nonprofit debt consolidation loan and what the benefits are behind doing this. The first part of this article will focus upon the benefits of using a nonprofit debt consolidation loan while the second part of the article will focus upon how you can obtain a nonprofit debt consolidation loan.
A debt consolidation loan is going to be very similar whether it is with a for profit or a nonprofit debt consolidation company. This must be explained upfront because a loan is a loan. You are borrowing money to repay someone and you are making fixed monthly payments until the debt is paid off. Whether you decide to work with a nonprofit or for-profit, you must consider all of the fees associated with it along with the interest rate. When you are applying for a loan, you do need to be approved for loan just as for any other loan that you may have applied for in your life. A nonprofit debt consolidation loan can be a good move for you if you have a great deal of credit card debt or other debt which is at a high interest rate. The interest rate which you will pay is often lower than the rates which you will find on your credit cards. This can allow you to save some money off of interest every month which you can work on applying towards paying down the principal of the loan. Another very important point when considering a nonprofit debt consolidation loan is that nonprofit organizations will be speaking with your best interests in mind. If you decide to work with a for-profit company, the advisers may lean towards pointing you in the direction of a debt consolidation loan which can pay them more if their pay is based upon hitting certain incentives. A nonprofit debt consolidation loan is good in that sense because the company should be looking out for your best interests.
To apply for and obtain a nonprofit debt consolidation loan, you should look to first gather all of your information in one location. If the debt counselor is not able to see all of your debts, he or she will not have a full picture and be able to obtain the best nonprofit debt consolidation loan for you. When looking at a nonprofit debt consolidation loan, the underwriters will often look at your credit score along with what will be paid off. They will also look to see whether or not the debt which is being consolidated into one monthly payment can fit with what you make so you still have room within your budget to eat, drink, and enjoy life.
Hopefully this article on a nonprofit debt consolidation loan has given you some helpful information. A nonprofit debt consolidation loan can have a very positive impact upon your life but you must also take into consideration all factors available to you. Gather up all information as far as what your bills are and listen to what the advisor has to say. Take your time to make a decision and do not rush into anything immediately.
How Can I Finf Debt Consolidation Non Profot In Florida?
CuraDebt is a debt consolidation non profit in Florida will save you thousands in interest and help you become debt free much sooner.
The benefits of Debt consolidation:
- In most cases, interest rates and payments are reduced.
- When accounts are past due, creditors will reflect that your account is current after you have made up to 3 payments.
- Creditor and collection calls should stop.
- You make one payment a month and CuraDebt will disburse funds to your creditors.
- Late and over limit fees are lowered or eliminated.
A Few Facts:
- Debt consolidation non profit in Florida currently helps over a million people to consolidate their credit card bills, and unsecured loans into one easy payment.
- Debt consolidation companies have a relationship with thousands of creditors throughout the US and can get you the best deal when it comes to lowering payments and interest rates.
- Credit consolidation is a safe and fast way for you to get out of debt.
- When you enter a debt consolidation plan will help you to get out of debt years sooner than you would paying off these bills on your own.
- Over half of all households in the US have trouble meeting their minimum monthly payments. If this has been a problem for you, it may be time to look into joining a debt consolidation program.
- Your debt problems will be handled by a debt consolidation non profit in Florida and you will be able to combine your debt into one low payment.
- Those who enter into a debt consolidation plan do not have to give up all of their credit cards. They may choose to keep one or two and pay them on their own.
- Debt consolidation programs are both legal and ethical.
- A debt consolidation non profit in Florida provide you with information resources and financial tools to help you improve your finances.
- The average household has 14 credit cards, debt consolidation companies can help those who are bogged down by credit card debt.
- You will reduce and quickly eliminate high interest payments with debt consolidation.
- Debt consolidation is not a loan.
- Debt consolidation is designed for those who are behind in payments to non secured credit entities.
- Debt consolidation is a debt repayment plan designed to ease your payments by lowering interest and doing away with late fees.
- Debt consolidation will help you avoid bankruptcy and helps you maintain a good credit rating.
This company is but one of many debt consolidation non profit in Florida companies. You will find many more on the internet or in the yellow pages. I hope this article was able to clear up any questions you may have had about debt consolidation.
How Can I Find A Consumer Credit Debt Consolidation Non Profit?
There are many consumer debt consolidation non profit companies out there and each one is capable of helping you with debt consolidation and getting your credit in shape. I have put together a partial list of consumer debt consolidation, non profit companies that you can look into.
Before you make a commitment to any of these companies, make sure to check them out thoroughly. As with anything in the world today, there are some that are not reputable. I have heard horror stories about consumer credit debt consolidation non profit companies that take a consumers money and do not pay the debts but keep the payments as fees owed to them. Others have had their credit completely destroyed because none of their payments were ever made on time by the debt consolidation company.
A list to get you started:
1.) Family Credit Help- Offers no obligation credit counseling. No setup fees to enroll.
2.) Nano Debt- Can reduce your debt by 80%. Free quote.
3.) Counsel Debt Solution- Free online quote in 2 minutes. No obligation, no credit check.
4.) Debt Consolidation- Is a global leader in debt management and credit counseling services. Make debt a thing of the past.
5.) Christian Debt Consolidation- Lower your monthly payments, reduce or eliminate high interest rates. 1 affordable payment a month. Free, no obligation quote.
6.) Excess Debt- Must have $10,000 or more in debt. Consolidate your debt and cut monthly payments.
7.) Freedom Debt Relief- Must have more than $15,000 in debt. Lower debt by 50 %. Payoff in 12 to 30 months. Get a free quote in less than 10 minutes. No fees are paid unless we save you money.
8.) Special Suggestion- Home equity loans, low rate financing. Specialize in less than perfect credit. Rates as low as 5.59% APR 30 year fixed, 4.32% 5 year ARM.
9.) How 2 solve debt- Search for consolidation services. Lower your monthly payments.
These are a few of the sites that offer consumer credit debt consolidation, non profit. I hope they will give you a good start on your search for a debt consolidation company to pay off your outstanding bills and get your credit back on track.
You can also find many more consumer credit debt consolidation non profit companies by going to your favorite search engine and typing in what you are looking for. You should be able to find what you desire through the list above and doing a search. Just remember to do your homework and get references when at all possible, before you give your money to anyone.
Free Non Profit Debt Consolidation
This article will focus on a couple of different resources which you can use when looking for free nonprofit debt consolidation. Most nonprofit debt consolidation companies will charge you at least some sort of initial fee to help pay for their overhead such as the cost of having employees and costs of doing business. There are not many free nonprofit debt consolidation companies out there and this article will focus on a couple of different resources which you can use to accomplish this goal.
The first thing to realize when you are looking at a debt consolidation situation is that the nonprofit debt consolidation companies do the same things as you do. They call the companies to whom you owe money and negotiate a repayment plan with them. This is something which you are capable of doing yourself if you take the time to sit down and learn more about your finances and how you can pay off your debt. If you go to your local library and search for the subject debt, you should be able to find four or five different books which you can help you in learning how to repay your debt. This can be a very good exercise for you as you will get a chance to learn how to work on how to get yourself out of debt which can be a source of pride if you are able to do this without any help. It will also give you chance to take it much deeper look into the situation and understand exactly what caused this particular problem.
Another resource which you should use one for free nonprofit debt consolidation is Debtors Anonymous. If you decide to work on your debt consolidation by yourself, this is an organization you can use to discuss your problems. The key point of this is that it is sometimes easier to speak about your debt and the situation you are in with others when you have no fear of repercussions within your life. Many people with a debt problem do not want to discuss this situation with family or friends. Debt involves you both financially as well as emotionally. Having a great deal of debt and not knowing how to pay it off can be a large negative stress in your life. You need some way to come to grips with this will financially as well as emotionally so this would be a good outlet if you have nowhere else to turn. This group is free and you can find this as there are usually locations within each major or medium-sized city.
Hopefully this article on free nonprofit debt consolidation has given you a couple of ideas you can incorporate within your own life. Debt affects you financially and emotionally and this is something which you must recognize from the outset. If you take on both of these actions described in the preceding paragraphs, you will be able to work on developing so that when you repay your debt in the future, you will be in the best possible situation to rebuild a stronger financial future.
Finding A Debt Consolication Free And Non Profit In MI?
Green Path is a debt consolidation free and non profit in Michigan. This debt consolidation firm offers an array of services when it comes to taking control of your finances.
Green Path provides free counseling and budget plans that are customized to the needs of each individual.
Their budget assistance is personal and arranged to fit your lifestyle. To begin with you are asked a few key questions about how much outstanding debt you owe, and how much money you earn. When that is finished you will be given an appointment to meet with a certified credit counselor to talk over your options. You will need to bring statements from all of your creditors and a copy of your credit report. If you do not have a credit report you can purchase one from Green Path.
The counselor will help you to figure out all of your options and provide you with a budget and plan of action. You will have 2 choices, to pay the debts yourself or to pay your debts through Green Path. You will have an opportunity to choose.
If you choose to join a debt management program through this debt consolidation free and non profit in Michigan, the counselors at Green Path will be available to answer any of your questions any time you need help, free of charge.
Green Path has pre-filing bankruptcy counseling for a fee. Anyone contemplating bankruptcy is required by law to seek bankruptcy counseling before they are able to file. By taking advantage of a debt management your counselor will be able to get your creditors to lower interest rates, waive fees, and stop collection letters and calls. You will be able to pay down your balance much faster. You may also be able to get a discount on the debt itself. If you are still receiving collection calls and/or letters after 90 days you should refer the creditors to Green Path.
You will be able to consolidate all of your debts into one payment to Green Path. They will then forward all your payments on to your creditors. This is a great alternative for those with many credit accounts all due at a different time. Your counselor well arrange an easier payment plan for you and also make all of your payments due on one convenient date. After completing a debt management program you will feel the personal freedom of living a debt free life.
Green Path will send you a monthly statement showing how much money was sent to them and when and how much was sent to each creditor. Credit counselors are available to answer any questions you may have. Green Path's credit counselors will work with your creditors to stop repossession, foreclosure and even utility shut off.
Our home and our car are our most important possessions. Credit counselors will make these a priority when calculating how the money will be disbursed. They can help you get back on track so your payments will be brought up to date.
Green Path will work with consistency to make sure all of your debts are paid on time each month. This will improve your credit rating immensely and we all know a good credit rating is paramount if you ever need to borrow money for any reason.
Debt Consolidation Non Profit
This article on debt consolidation nonprofit will focus on explaining some of the different services which are offered by debt consolidation nonprofit companies. You may think that many of the nonprofit that consolidation companies only focus upon debt consolidation but most have many other services which someone can take advantage out. The reason this is important is that when you are in talking with a debt consolidation nonprofit company is that you will want to see if you can take a long look at your total financial picture since debt consolidation is a major step for most people.
Congratulations! If you are reading this article, you are looking at taking steps to work on your debt situation and that is something which many people do not do here in the United States. Credit card debt stands at a little under $9,000 per household in the United States and this figure doesn't seem to be going down at all. Debt has actually grown faster than our income so this is a problem which many people have but not as many people are willing to address. That is something which first must be recognized and then you can take initiative in getting help. Individuals will look at trying to repay the debt themselves but they struggle with this step oftentimes and that is where they look towards a debt consolidation nonprofit company.
A debt consolidation nonprofit company can do much more than just help you consolidate your bills into one monthly payment. This is a very important step as it can help you lower your monthly payments and have a set target when you can have your bills paid off. This is a great weight off many people's minds but they do need to also look back at the habits which got them in this situation. Debt consolidation nonprofit companies will offer credit counseling so that you can learn a much better way and manner in which to run your finances so that you do not find yourself in this situation again. People will go to debt consolidation and find ourselves in a situation between two and five years later. The behavior must be attended to see and credit counseling should be asked about when you are at the debt consolidation nonprofit company. You also might want to ask whether the agency also offers investment advice. Debt consolidation is a major step in a person's financial life so you should look at retirement and savings to see the overall financial picture within your life. Not many nonprofit debt consolidation companies offer this but it is something to look into as well.
This article on debt consolidation nonprofit companies has give you an insight into how important it is that you are first off reading this article and then to follow with what to look for in an agency which can help you in your financial life present and future. It is important to see what the problem is but it's also important to look at the factors which created the problem in the first place. If you do not look at what helped create the situation you are not setting yourself up for success in the future there
Debt Consolidation Non Profit Organization
There are many debt consolidation nonprofit organizations which are out there on the Internet today. This article will first focus upon deciding how to look for a debt consolidation nonprofit organization and then give an example of an organization which you may want to work with.
If you type in the phrase debt consolidation within your search box on the Internet today, you will find tens of thousands of different companies you could work with. When you are thinking about a debt consolidation nonprofit organization which you would like to work with, you need to think about whether or not you are comfortable doing it over the computer or if you would like to meet someone face to face. This is a critical question because you may feel more comfortable working with the one in person but there are many more options when you are looking over the Internet for a debt consolidation nonprofit organization. This is something which you need to think about right away as you begin your search for an organization which you would like to work with. This is a major step within your financial life so you need to make sure that you are putting yourself in the best possible situation. The next paragraph will focus upon an example of one company which you can work with either in person or through the Internet.
The first company which you may want to look into is Consumer Credit Counseling Services. This company is one of the biggest debt consolidation companies in the United States and it does offer free credit counseling. You will find much of their information when searching for debt consolidation nonprofit organizations on the Internet. This company has been around for many years and is well regarded within the United States as a company to do business with. This is a company in it for the long haul and these are the types of factors you will normally want to consider when looking for a nonprofit organization to work with.
Most debt consolidation nonprofit organizations do offer free services but you must also consider the cost of using their other services. A service may be free but higher interest rates or other fees could be incorporated into the overall fee structure which you would have to pay throughout the time you work with a debt consolidation nonprofit organization. This is something you should keep in mind when comparing the different organizations which you may want to work with.
A debt consolidation nonprofit organization can be a great resource for you to use but you also need to focus upon whether or not this is a solution which you want to use. Debt consolidation is a major step for anyone so you must think carefully as this is a major undertaking and you will be putting a lot of effort in faith with in this company. Some companies will tout that consolidation as a good move for you but you must think whether or not this is going to help you succeed in the long run financially.
Hopefully this article on what to look for with in a debt consolidation nonprofit organization as well as giving a recommendation for a company to work with has given you more information in determining whether or not this is the right step for you as well as whether to work with a debt consolidation organization or do it on your own.
Business Consolidation Debt Non Profit
When you are looking at business consolidation debt available by nonprofit companies, you have some less publicized options available to you than on the personal side when looking for debt consolidation. Personal debt consolidation is widely publicized so it is easy to find a company to work with. It is the same way with a company focusing on business debt. This article will first focus upon a couple of key characteristics which you should look for when deciding upon which particular consolidation company to use and then follow with a broader discussion of small business debt consolidation loans.
When you are looking at business consolidation debt for a nonprofit, you will want to first take a look at the fee structure associated with the nonprofits along with how long they have been in business. There are many consolidation companies out there today set up by scam artists so you not want to pay money for a debt consolidation program which does not yield results for you. Make sure to also look at what types of fees are associated with using a particular debt consolidation company and what types of free services they offer. Most nonprofits debt consolidation companies will offer you free credit counseling and budget services. You will want to do your homework ahead of time to see what these nonprofits are doing.
Small business debt consolidation loans can be very easy to find for you. You'll want to look at whether you have assets which you can pledge for your debt consolidation loan as this will often dramatically lower the interest rate which you would have to pay. You want to look at your overall debt structure as a business and see if there are different ways where you can save money from your current business expenses and the trends which you see in how your business expenditures are coming. Business consolidation debt from a nonprofit organization is important within this because these organizations may be able to talk with your current creditors to work on lower interest rates and payments so that you can better manage your cash flow within the business. A good place for you to look for this business consolidation debt from a nonprofit company may be your local Chamber of Commerce. Most serious companies will register with your local Chamber of Commerce and the individuals who work there usually have very good networking skills so they will be able to point you in the right direction toward someone you should talk with. You can look on the Internet for a company to work with but it may be just as easy to work with a company locally as you can sit down with them face to face.
Hopefully this article on business consolidation debt with a nonprofit has given you some information to work with. Make sure to listen to what the company has to say and weigh it against your experience and common sense. If it seems too good to be true, it probably is. At that point, listen politely to what the person has to say but do not make any decisions at the moment and take time to walk away from the situation so that you have a chance to think clearly without persuasive speaking.
