Money Minute: Thursday 9 January

If you have been struggling with bad credit for a while, you might have come across offers promising you bad debt help. You have to know that many companies are offering these services for a one off or monthly charge, and if you are making an effort, you can easily complete the tasks yourself.

How badly do you want to be debt free? You have to be willing to make some today for a better tomorrow. If I followed you around for a day, listened to you talk, watched you spend, saw how you interact with your friends, I’d be able to tell you whether or not you will get out of debt. Want to know the signs that you’ll never get out of debt? Here are a few.

Everybody says they want out of debt. After all, who wants the stress of wondering how you are going to make ends meet every month? Who wouldn’t want to be able to spend money only on the monthly necessities like food, gas, utilities and then have the rest of your money to save or spend on things you want instead of on bills? The thing is, if you truly want out of debt, you can get there. But, it will take some discipline and sacrifice on your part to do it. In fact, I could take a look at your lifestyle and tell you whether or not you’ll get out of debt. Here’s how I know.

Prepaid Visa Credit Cards are an ideal approach to manage your funds and manage your spending. They basically can help you pre-pay funds into your card account simply as you would with a regular checking account. The money that you simply deposit in your card is the set limit available for use.

If you are in debt, welcome to being normal. The question is: do you have good debt or bad debt? Is your debt manageable or out of control? Millions of Americans are in debt. Many of them have a combination of good and bad debt. Many of them have debt that is out of control. If you are one of them, you are probably not enjoying life much right now and your stress level is probably through the roof. I can identify with that. I’ve been there. But, the question is, are you going to stay there or do something about it?

Sometimes when you’re in debt you get a feeling of hopelessness. It seems like nothing you do puts a dent in the debt that you owe. You know the saying you can’t see the forest for the trees. Well, your debt can be like that. It can appear to be insurmountable. In order to get out from under that load of debt, you need to be able to back up enough to get some perspective and see the whole picture. One way to do that, and to provide some much-needed momentum to help you achieve your goal of being debt free, is to use the debt snowball method.

Becoming debt free will change your life. You might think that your circumstances are somehow different from everyone else’s. If that’s what you think, you’re wrong. You are just one of millions of Americans in debt, living beyond your means, struggling to stay afloat, and knowing there has to be more to life than this. Well, there is. But in order to truly enjoy life, you have to learn how to shake of the shackles of debt. It won’t always be easy, but if you commit yourself to the process, you’ll find that it was well worth the effort to become debt free.

Learning to negotiate with debt collectors can save you thousands of dollars on your current debt as well as any future loans you take on. Why? Because your credit score affects your interest rate. But, there is another tip I’d like to share with you, and it just may be the most important one yet.

Negotiating with debt collectors isn’t as difficult as you may think. Especially when you realize that you have the advantage. After all, you have what they want–your money. But, making a debt settlement offer isn’t the end of your negotiations. What’s the next step? Ask your debt collector to sweeten the pot by doing you a favor.

The UK is one of the most expensive countries in the world to live. Many people have found that living in the major cities is simply beyond their means and run up huge debts try to simply get a decent lifestyle. However, there are some ways to escape this trap.

Many people don’t realize it, but you have an advantage when negotiating with debt collectors. You have something they want–your money. It’s important to get all of the facts before you start your negotiations. Now, here’s a tip: offer to settle for pennies on the dollar.

You may find this difficult to believe, but you actually have the advantage when negotiating with debt collectors. Simply put: you have something they want–your money. Remember that old adage, if at first you don’t succeed, try, try again. Don’t get angry when they tell you no. Their whole purpose is to get you emotional. If you are angry, upset, embarrassed or guilty, you will end up making an emotional decision that isn’t in your best interest. Here is an important tip to keep in mind when negotiating with debt collectors.