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News Tips & Updates on Debt Help

How to consolidate credit card debt like a pro

Thursday,04th April, 2013
Credit cards can be very useful tools, however, if you are burdened by a portion of the $850 billion that Americans are currently carrying in credit card debt, chances are, you're looking for a solution. One way to improve your cash flow is to consolidate credit card debt. DIY debt consolidation You can put together your own debt consolidation plan and save the money you would pay to a company for its services. A DIY plan to pay off credit card debt can involve transferring balances, applying for a debt consolidation loan or a home equity line of credit, even securing .......

The secret to breaking your bad money habits (No, really!)

Thursday,31st January, 2013
This article comes from our partner LearnVest, a site that helps women take control of their finances. It all started when New York Times reporter Charles Duhigg couldn’t understand why he had trouble sticking with an exercise routine. “I felt like I was a fairly successful, intelligent person, but then there were all these things I didn’t have all the control I wanted over–like making myself eat healthfully or exercising as much as I should have,” Duhigg says. So like any good reporter, he started doing some research. “And I realized that we’re living in this golden age of understanding the neurology of .......

Who should you ask for help? Credit card companies or credit counselors?

Monday,05th November, 2012
In October, 30 million Americans had accounts that were "under collection," according to ACA International, a trade association for debt collectors. That's one in 10 of the population who are dealing with collection agencies. "Under collection" means, for many, a constant bombardment of calls from debt collectors that sometimes amounts to serious harassment. Imagine -- if you're lucky enough never to have experienced it -- the stress that causes. Small wonder many reach a state of desperation in which they feel they're drowning in debt, and are prepared to reach for any lifeline, no matter how doubtful the claims of .......

Credit where credit's due -- but only if you're lucky

Wednesday,29th August, 2012
When, some time ago, John Watts of Birmingham, Ala. took his young child to hospital for the last in a week-long series of MRI scans, he believed he was up to date with his deductibles. Certainly, nobody mentioned anything about a payment being due when he checked his offspring in, and he never received an invoice. Nevertheless, it turned out he was wrong; he actually owed about $200. But the first he knew of his liability was when, a few weeks after that last hospital visit, a debt-collection agency got in touch, demanding payment. He called the agency on the day .......

Give your finances a checkup

Monday,09th April, 2012
Just like your physical exam, you should routinely do a financial exam. There is no time like the present to review your finances. Use the following checklist to give yourself a money checkup. List all sources of income so you know exactly how much you have to spend each month. Then make a list of all your monthly bills, such as mortgage, utilities, groceries and credit card debt. If you do not have enough income to cover all the bills, you are in serious trouble and need to come up with a better plan. You should not rely on credit cards .......

OMG! Stop demonizing people with credit card debt

Monday,20th February, 2012
Does credit card debt advice have much in common with religious proselytizing? Here are five ways in which it may: Both require a long and rocky road to redemption, which demands painful self-sacrifice. Both offer inner peace to those who follow the right path. In both cases, those who need the most help are the least likely to hear or read the message because they're frequently in denial. In both cases, those who need the least help are the most likely to hear or read the message because they sometimes get off on having their superiority reinforced. Those who seek to convert the wayward to .......

Credit card debt: Back to the bad old days?

Monday,13th February, 2012
The Federal Reserve published its monthly G.19 statistical release of consumer credit on Feb. 7, and, as many expected, it revealed another uptick in household borrowing. In December alone, the month the figures covered, it rose at an annualized rate of 9.3 percent. At the end of 2011, we as a nation owed some $90 billion more than we did at the end of 2010. Revolving credit, which is virtually all credit card debt, had fallen in 32 of the previous 37 months, but was up again in December, the third consecutive monthly rise. As with the wider consumer credit measure, .......

Can't pay your credit card bill? 6 action steps

Monday,06th February, 2012
Not too long ago, it seemed as though anyone who could fill out an application, sign their name and lick a stamp could obtain credit. In fact, there was even a somewhat disparaging acronym associated with certain types of loans, which were reserved for borrowers who perhaps were not fully qualified to receive credit. These "NINJA" loans or "No Income No Job No Assets" loans helped create a large part of the housing strife the U.S. is experiencing today. As a result of these somewhat lax guidelines along with a generally difficult economic environment, many Americans have found themselves leveraged to .......