Archive for the ‘debt solutions’ Category

Finding Current Debt Solutions Online

When people search online, they usually view the first websites they see in the search results as the most important and when people surf online the majority use Google.  Google has a reputation of providing the most relevant results and they have made many changes to get timely information listed where people can see it.

However, I found an article on Google the other day (on Credit Card Debt) that was completely outdated.  The article was ranked in the top 5 of the search results. As far as I could tell it was written sometime in 2004 as the article mentioned the current year as 2004.  The article gave credit card debt statistics that were already outdated by the time the article was written.  Seems Google still has some work to do.

Systematic Debt Solutions You Can Use to Chop Credit Card Debt

There are several debt solutions you can use to systemically reduce or eliminate credit card debt.

The first method is to pay off the credit card with highest interest rate first. Mathematically this debt solution makes the most sense in the long run because you reduce the total amount of interest paid and you get out of debt faster. People with discipline should use this method.

Help With Credit Card Debt

Got credit card debt? Most of us do (or did).  Here’s what you can do to eliminate or reduce debt: 

First, write down exactly what you need, if you don’t already know. Do you want to:

             Pay down bills to improve credit score        

             Pay off the bills so you can sleep at night

            Get lower payments (or 1 payment) so you have more money at month end

            Get help with credit card debt immediately because you can’t afford to pay the bills and are afraid “they” may take everything.     

Debt Solutions – which are best for getting out of debt while maintaining your credit?

 

Some debt solutions are better than others and some affect your credit more than others. So which is best?  Use the following to help you decide. 

 Get your 3 scores for free

DIY

 You will not necessarily get lower interest rates on existing balances unless you do the negotiations yourself.  You can save money by paying more than the minimum monthly payment and lower interest rates if you are successful in your negotiations. 

On time payments will help your credit score and will make getting new credit and/or lower rates on loans easier. Very positive.