Debt Consolidation Programs Government
February 18th, 2009 | 
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How can I get out of credit card debt?
1. I have 6 credit cards that are closed to being at there maximum.
2. All the credit cards have a limit of $800.00
3. I would like to keep at least 3 of the cards with the best percentage rate.
4. The way the Internet is with so much dis-information, you can’t really figure out what debt consolidation companies are legitimate.
5. The Internet is hard to navigate for legitimate government programs that may help.
6. My finances consist of unemployment.
First, you need to check your interest rates. If they’re higher than 13%, call the credit card companies to see if they will lower them. In many cases, they will do it just to keep you as a customer.
Then see if you can sign up for a credit card with a lower interest rate. For best results, get a card with a low rate that is good for the life of the loan. Then transfer the balances from your old cards to the new card, even if you have to pay a balance transfer fee. You may also be able to get a low-interest personal loan to pay off the high-interest credit cards. Shop around for the best rates and terms, and check your local credit union; their rates are usually better than banks.
This is your best bet while you’re receiving unemployment, since it’s unlikely that you’ll have extra money to pay down the balances. However, when you do get a job, you should start paying extra on the credit cards. Paying even double the minimum payment will dramatically decrease the time time it takes you to pay them off.
Meanwhile, be very careful about your spending. Don’t run up any more credit debt. If you have the discipline to keep your spending in check and pay the card off in full every month, use a separate card for groceries, gas and other necessary expendatures. Otherwise, use a debit card, checks or cash to pay your bills.
The only government programs available to help people get out of credit card debt are government-approved credit counseling services. You can check the Federal Trade Commission (FTC.gov) or U.S. Department of Justice (USDOJ.gov) website to see which couselors are approved. If you get into serious trouble, you may need to contact a lawyer to help you obtain a settlement with the credit card company, but it doesn’t sound like you’re at that point yet.
U.S. Government Stages Fake Coup To Wipe Out National Debt
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The Simple Steps to Solve Your Debt Problems $4.77 Inside The Simple Steps to Solve Your Debt Problems, you will discover:–Understanding debt–What are essential and non-essential expenses–How to explore your own debt–Create a realistic budget–Learn how to pay off high interest debt first–Finding your hidden money–Is debt counseling an option for you–Refinance a mortgage–Know your rights–Dealing with creditors–Is bankruptcy an option–Al… |
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