Money Minute: Monday 9 December

As winter winds down, many people are groaning as their credit cards hiked up. Holidays, vacations, and the necessary needs often pile up fast, leaving you with high debt, and the need for relief, and fast. With an unstable economy, it is always best to pay your debt off as fast as you can.

Anyone who has been struggling with debt has at some point, I’m sure, thought about just not paying their bills anymore. Some people actually do stop. I heard of a man who simply put his unopened bills in a box in the closet because he didn’t want to deal with them. When my financial situation was at its darkest, it was not uncommon for me to not open my mail for weeks. Sometimes I wouldn’t even go to my post office box to get my mail. Why bother? After all, I knew that there would be the inevitable stack of bills and collection notices and threats from my creditors. If you’re not careful, you can work yourself into a state of depression and inertia which just makes your situation worse. Ignoring your debts will not make them go away, and can even make your situation worse. How bad can it get? Read this article to find out!

Opting to do debt management is an effective method of settling your debts. This is done under the process of negotiation wherein a third party is involved in clearing your debts.

For people who are struggling with their financial condition and are wanting to untangle themselves in this messy case, debt management is the best answer to all your debt troubles. Effective debt management can permit you to regain control of your finances and can assist you to get out of debt for good.

Debt problems are common and have an effect upon hundreds of thousands of people all over the world every single year. Due to this fact all sorts of different debt restructuring and consolidation services and companies have risen, offering flexible solutions for people who find themselves in a financial hole. One of these services will help you to properly manage your debt, pay it off in a more timely fashion, reduce interest rates, and consolidate your package.

The global recession, and a variety of other factors, have caused many people to be in a situation that they are unable to meet their monthly debt repayments. Creditors then start to chase the debtors for money, and this can be quite a nasty experience. The advent of debt counselling has been helpful to many people to be able to manage these repayments more effectively, and still be able to pay the month to month living expenses.

When you’re drowning in debt, behind in payments, running out of options, and don’t know what to do, debt settlement may be a good option for you to consider. It isn’t for everyone, and there are some consequences to take into consideration, but it may be the option standing between you and bankruptcy. In this article, I’ll review the consequences of negotiating a debt settlement with your creditors.

One of the last things you want to deal with when you are already in debt, is being taken to court by one of your creditors. It’s a case you won’t win, and then not only will you owe your original debt, but you’ll also owe legal fees on top of that and, depending on the judge, you may be required to pay the debt in full or have your checking account or wages garnished. So, how do you avoid being taken to court? There are a couple of steps you can and must take in order to avoid this scenario.

Anyone can get into serious debt and it is a problem which certainly affects more and more people each day. Debt help organizations are plentiful, but if you are a committed Christian you will probably prefer to find a source of help that is in line with your beliefs. Find out about the availability of Christian debt counselling help.

The recent downturn in the global economy has pushed many people to the edge of financial crisis more than ever before. There isn’t a person on the planet who has not suffered at the hands of this recession.

There are several ways to get out of debt legally. Some of them I wouldn’t recommend. A few years ago, when people found themselves over their heads in debt, it was very common to just declare bankruptcy and start over again. The problem is, many of them did just that – they started getting back into debt all over again. My recommendation is to NOT go this route at all. After all, you got yourself into debt. Some of your debt may have been due to unavoidable emergencies. But, it’s likely that much of your debt is simply due to overspending. Is it ethically and morally okay to simply not pay back what you owe? It may be “legal”, but that doesn’t necessarily make it right. But you can legally get out of debt. Here is my How-To Guide for doing just that.

First, I’ll cover what the Bible doesn’t say about debt. It doesn’t say that debt is a sin. It doesn’t say that borrowing or lending money is a sin. It does, however, caution us about going into debt. The Bible doesn’t say that debt is a sin. But, it does make it pretty plain that debt is not God’s choice for us.