How Using Debt Relief Programs Will Affect Your Credit Score

Large amount of debt in your name can be a very big burden. People try out many debt relief programs to solve this financial crisis. Most of the debt relief programs if chosen correctly can relieve you of your debt effectively. However, these debt relief services have some negative effect as well. A consumer needs to consider the impact that any relief program will have on their credit score.

Can Using a Debt Relief Program Hurt Your Credit?

Debt relief is a good option if you have fallen behind in your payments for unsecured debts like credit card bills, medical bills etc. Through these debt relief programs your debt management company takes a lump sum payment from you which is then distributed to all your creditors. These programs offer you a lower rate of interest which makes it easier for you to pay off all your debts.

What Is a Protected Trust Deed or IVA in Scotland?

An IVA in Scotland does not exist as such as it is replaced in Scotland only by the Scottish equivalent, the Protected Trust Deed. A Protected Trust Deed can allow an individual to write off up to 90% of the unsecured debt that they owe.

Can A Debt Consolidation Loan Be Your Poor Credit Alternative?

Acquiring a debt consolidation loan can make unfavorable credit ratings become a thing of the past and allow you to get back on your feet economically. So the most important question I assume you’ve got is that if you are eligible for debt consolidation loan. Unfavorable credit rating isn’t essentially an obstacle to you obtaining a personal loan to combine your credit balances since the providers recognize your circumstances.

What Happens When My Debt Management Planner, Trust Deed or IVA Insolvency Practitioner Goes Bust?

In recent months, the debt management program planners DCM have gone into liquidation, last year it was the turn of Manchester based Chase Saunders. Insolvency Practitioners WM Proserv is also in the process of being made bankrupt. While it is rare for a debt management planner or insolvency practitioner to go into liquidation, it is more a case of companies folding due to the pressures of the recession or poor management that anything sinister.

Lee Schwilm Talks About Bankruptcy Versus Debt Settlement Companies

I was honored to have in my studio local bankruptcy attorney Lee Schwilm of Schwilm Law Firm. Lee is originally from Albuquerque, N.M.

What Legal Actions Can Creditors Take If You Don’t Pay Your Debts?

Most of us don’t plan to get into debt and usually it doesn’t happen overnight. And yes, I know there are always exceptions to the rule. But, for most people debt just sort of sneaks up on them. One day they were doing okay and making ends meet, the next day they realized that they were in way over their heads. If you are over your head in debt, you have probably had the thought: “What happens if I don’t pay my debts?” Well, that all depends on what kind of debt you have. So, let’s take a look.

Getting Un-Frustrated With Your Finances – What Separates The Successful From The Un-Successful

What if you would have been “in the know” and purchased Apple stock, going green, bottled water or gourmet coffee years back when they were little known stocks or concepts- where would that investment have put you today? Learn what separates the successful from the un-successful.

Advantages of Using a Debt Collection Agency

Chasing up payments with clients is not only a hassle but time consuming also. Here, we’ve listed some of the major advantages of employing a debt collection agency to assist with outstanding payments your business is owed.

How to Make Payment As Easy As Possible for Your Clients

A debit collection agency is a great way to get help settling unpaid invoices your business is owed. However there are a few steps you can take so that you give your clients the best chances of being able to make their payment on time. Here, we’ve listed a few ways in which you can not only encourage prompt payment, but also make it easier on your clients, which they’ll appreciate.

Hope Is NOT A Strategy Or A Plan, It Is Desperation

I overheard one of our workout employees talking to a prospective client and I could tell from the tone of the conversation that it was not going to convert into a client relationship… unfortunately. Unfortunate for the business owner, as he has assets but not enough to survive in his business, yet he has enough for the bank to recover some of the loan.

Ways To Reduce Your Debt

Even though January 1st has come and gone, it’s not too late to change your ways and get a hold of your debt before it ruins your upcoming year. You can call this renewed spirit to turn your financial situation around a 2nd quarter resolution. There are many ways to start reducing your personal debt, what are you waiting for?