Here we are, new year and new hopes and dreams are dawning as everything is new again. Only one thing can spoil this wonderful feeling. The bills from the holiday season have now descended upon us and we are immediately brought down to earth.
Did you spend too much? Did you decide to travel in First Class during your holiday rip when you can't afford it? Have you let your other bills become overdue? Are creditors starting to call? Are you getting too deep in debt?
If you answered yes to these questions, you are not alone. Statistics show that the average American house holds 13 credit cards, and a combined debt of $5,800 in credit card debt or more. In debt, it's next to impossible to save, invest, or even enjoy life fully due to a lack of financial freedom.
Of course one way out is to borrow more money to pay off old debts, but this only gets one deeper into debt. If you are experiencing severe debt difficulties and find it difficult to cope, the last thing you really should not do is to borrow more money. Try to consolidate your debt using a debt consolidation program.
Debt consolidation programs you say? Aren't they for losers and deadbeats? Okay maybe you are right, what are my options?
There are various debt consolidation programs, which gives you a lot of options. You could either select a paid service or go for the many free services available.
Check with your Banks and financial firms to see if they can provide you with these services. You will be surprised how many people do use these services and are not losers, but normal people who got into trouble.
If comfortable using the Internet, you could search for an online program for debt consolidation. Search using the term "debt consolidation" and you will find a wide variety of companies to choose from who will be willing to help you. Fill out their free, secure online questionnaires; and a representative from each company will get back with you within 24 hours with a recommendation about your financial situation.
Once enrolled in a particular company, you will have a financial analyst or an expert counselor working with you to frame a program to suit your financial need. They then work with your creditors to get lower interest rates and lower monthly payments for you. In some cases, they might even get creditors to eliminate past fees.
Once your counselor has come to an agreement with each of your creditors, you must begin making payments to the debt consolidation company each month. They will divide your payment among your creditors. It is important that once you start a program, you stick with it until you pay off your debt. Sure this will hurt for a little while, but in the long run you will be glad you did. Remember, “No Pain, No Gain” not only applies to exercise.
Another benefit of a debt consolidation company is that they will teach you how to use credit wisely and how to budget better so that you won't find yourself in debt again. Then of course it is up to you to learn from your lesson. Smart people learn from their mistakes and only fools repeat theirs.
Learn to spend wisely and enjoy life as it was meant to be.
Mahalo.
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Need help to learn how to get and stay out of debt and live debt free?
Tips and techniques outlined in our ebook “Debt Free Living”.
For more information:
http://www.renspubhouse.com/debtfree/debtfree.html
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