| Debt Management - 5 Principles to help
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| | how much money you spend on things you
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| you get your debt under
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| | want, and don't really need. The smallest
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| control!IntroductionDebt consolidation
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| | things, such as that $3 cup of coffee
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| and refinancing have become thriving
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| | every day, can slowly eat away at your
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| industries in America these days.
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| | finances. This will help keep you from
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| American personal debt is at the highest
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| | getting further in debt. Your budget
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| rate we've seen. Creditors are more and
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| | should define how much money you'll send
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| more willing to give out credit cards, or
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| | to each of your creditors monthly and how
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| let people easily qualify for home equity
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| | much you need for bills, and how much is
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| loans so they can refinance or
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| | left for discretionary spending. Try
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| consolidate debt. Not that refinancing
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| | limiting your discretionary spending to
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| is bad, but often times, we feel that
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| | things you can buy with "pocket cash".
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| since we've reduced our interest rates,
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| | This may be hardest thing you've ever
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| we can afford "a little bit extra" credit
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| | done, but you won't get further in debt
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| as a reward.BusinessWeek says that total
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| | if you only spend what you have.3. Pay
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| household debt in the US was more than
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| | off the debts one by one.
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| 100% of our disposable annual income last
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| | Maintain minimum payments to the rest of
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| year. The average person has more than
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| | the debts, but pick the debt with the
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| $8000 in credit card debt.The bottom line
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| | highest interest rate, and send extra
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| is that our personal debt is growing at
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| | payments to pay it off. There is a proven
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| an alarming rate. You can now charge
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| | psycological benefit to being able to
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| your fast food meals at many restaurants,
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| | take a debt off of your list.4. Consider
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| paying interest for years on something
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| | debt consolidation or debt restructuring
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| you consumed in one sitting. Many people
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| | and possibly refinancing your home
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| have taken steps to address their debt
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| | mortage.
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| problems, including consolidating debt to
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| | Lower your credit card debt by 70% by
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| lower interest rate cards, or to home
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| | consolidating. With interest rates down,
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| equity loans, or at worst case the
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| | it also may be time to refinance your
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| dreaded "B" word, Bankruptcy.5 Principles
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| | home mortgage loan and cut your monthly
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| of Debt Management1. Create an accurate
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| | payment. You can get free mortgage loan
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| assessment of your debt situation.
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| | quotes at LowCostLending. When you
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| Make a list, chart or whatever you're
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| | refinance, make sure closing costs and
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| most comfortable with, of all your debts.
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| | other fees don't outweigh the savings in
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| Be sure and include the amounts, interest
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| | your monthly payment. Another option is
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| rates, and expirations dates (especially
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| | to get a Home Equity Loan. Home equity
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| on any no-interest for ## days type
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| | loans are good because they allow you to
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| loans). Be sure and note any old accounts
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| | deduct the interest on your income taxes.
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| that you've got "laying around", such as
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| | Remember though, new credit is not a
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| that department store credit account that
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| | license to incur new or more debts. Once
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| you opened to get the 15% discount. You
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| | you've transferred a balance by
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| can now get a free credit report online.
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| | consolidating, or refinancing, don't add
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| You should make sure that you've got a
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| | more charges to the old account. If
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| credit report and FICO score from each of
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| | you've got a lot of open accounts, you
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| the 3 national credit bureaus: Experian,
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| | may want to close some of them, but you
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| Equifax, and TransUnion. The FTC advises
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| | shouldn't necessarily always cancel the
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| monitoring your CREDIT REPORT activity ON
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| | old account. Having a good payment
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| ALL 3 BUREAUS. Order your 3-bureau report
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| | history with a few existing accounts can
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| from today. If you've got bad credit,
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| | be better for your credit record than
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| paying down your debts is of utmost
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| | many cancelled and new accounts.5. If
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| importance!! Click here if you need help
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| | necessary, get help.
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| understanding your credit score.
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| | You may choose a credit counseling
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| Depending how bad your score is, you may
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| | service, or debt counseling and debt help
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| also consider additional measures to
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| | service to help with each step of your
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| repair your credit.2. Make a budget and
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| | debt solution. Credit counselors can add
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| stick to it!
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| | accountability to your debt solution, and
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| Making a budget helps keep from
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| | also serve as a source of encouragement.
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| increasing your debt, while you're trying
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| | They are used to dealing with people with
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| to pay it down. Be specific and detailed
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| | bad credit or poor credit, and can help
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| in your budgeting. Except for
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| | you create a custom debt solution. They
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| emergencies, you should only be spending
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| | can suggest money lenders that might be
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| what is accounted for in your budget.
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| | more willing to make a loan to someone
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| Some people have found it helpful to keep
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| | with a lower credit rating. Once you
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| a 30 day log of their spending. Carry a
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| | start reducing your debts without
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| little notebook, or some index cards with
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| | incurring new ones, you'll start to see
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| you, and write down everything you spend
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| | your credit score rise.
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| each day. You'll probably be amazed at
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