Money Minute – Monday 16 March

American consumer generally is more leveraged and more in debt than a citizen of any other developed nation. That is a fact. If you think that your debt level is higher than your comfort level, do read this article. This article outlines some proven techniques to manage your debt level, whether it has reached crisis proportions and is stressing out you and your spouse, or on a much less dramatic scale, your debt is something you always want to have control on.

If you’re deep in the hole financially and don’t want to file for bankruptcy, it may be time to negotiate credit card debt. In a tight economy, your creditors may be more open to this approach than ever before, and you’ll be able to use the help of a reputable debt settlement company.

When you’re upside down on your credit card debt but you don’t want to go to bankruptcy court, it’s time to consider credit card debt settlement. This is an option that can get you out of much of your debt without the financial penalties of bankruptcy.

So many of us are simply swimming in debt. We have a country full of unemployed people who owe money to unrelenting student loan providers. We have folks who’s houses are deep under water, meaning the money they owe on their steep mortgages is a whole lot more than the estimated market value of the home itself.

Don’t let maternity leave ruin your credit score and ability to finance the many things growing families need. Many couples in the family formation life-stage need credit to finance their first home, the new mommy minivan, new baby furniture, and many other items. But the U.S. lacks paid maternity leave, leaving two income families in a pinch, and setting them up for a life-time of financial struggle.

Perhaps nothing is as troubling as receiving a call from a debt collector about a bill that belonged to a loved one that just passed away. If you’re recently lost a family member, and don’t understand how to deal with the debt collector, here are a few tips.

Sometimes, or rather on most instances, debt can make life miserable for anyone who has a sane mind. The burden gets too heavy to bear if you are going through a crunch situation.

When facing a large amount of unsecured debt and a smaller amount of income, debt negotiation with creditors might be an advisable solution. Using the help of an experienced debt settlement attorney rather than doing it yourself could make the difference in ensuring your debt negotiations are handled in the most professional manner possible and that you are receiving the fairest resolution you can obtain.

With the pressure for finding an alternative mounting, the many options can often seem overwhelming. Loan modifications, short sales and deed in lieu transactions may pass by on your list of options, but is important to note that they are not for everyone. Before deciding on a foreclosure alternative option you must review the benefits and risks associated with each option.

As credit card holders’ struggles with payments on credit cards continue to increase the environment looks like it will only get tougher, particularly those with infractions and/or low credit scores. Due to increased losses from chargeoffs, companies are moving away from fixed rates, raising minimum payment requirements, and raising fees wherever possible stretching budgets thin for millions of cards holders. If you are stretching to make payments now, there are a few actions you can take to preserve your credit card standing, according to Ben Woolsey, director of marketing and consumer research for CreditCards.com.

Credit card companies do deal with some debt settlement companies, but not everything that they company chooses to do is agreed upon by the credit card company. This is information that is often left out or glossed over when reviewing the terms of agreement with your debt settlement company.

A quick guide on how to get out of the debt hole, you might find yourself in. Too many good people end up here for good.