Dec 172008

We’ve spent a bit of time here talking about various ways to prepare your finances, in both good times and bad.  Oftentimes, we’re dealing with a savings or investment plan, but in these difficult times it might be more appropriate to be thinking about some debt settlement services, especially if you’ve begun to find yourself in a serious debt situation.  It’s good to keep in mind that debt relief services can help you become debt free, lower your overall debts and combine your payments into one, low monthly payment.

The process, also referred to as debt negotiation, usually involves your creditors receiving a lump sum payment in lieu of a reduced overall amount.  As a result of this payoff, the creditor will report to the various credit bureaus that the debt has been paid and the consumer no longer owes any money on this loan or credit card.  The experts at Franklin Debt Relief are quite skilled at handling debt negotiations as they specialize in debt settlements.  They also have a lot of information on their website, including a great FAQ on credit card debt consolidation and other debt consolidation programs.

If becoming debt free is important to you, spend some time on their website and learn more about debt relief and credit card consolidation.  There is enough information to really help you understand the process involved and figure out what is best for your situation.  You can always give Franklin Debt Relief a call and learn if you qualify and get more information that is specific to your situation.

Dec 192007

Since it’s been in the news so much lately, there is really no secret that many Americans are now facing debt problems and are in need of credit and debt counseling. This help includes either debt consolidation and management as well as credit card relief. The Credit Exchange Corporation is a great resource to use in order to seek out financial services since they use an affiliate network of debt consolidation and debt management companies.

Basically, The Credit Exchange Corporation reviews their affiliates thoroughly in order to find trustworthy referral companies that customers can best use to find the best credit and debt counseling for their specific needs. They provide referrals for several types of financial services like Financial Analysis, credit and debt counseling and debt settlement. As Americans increasingly find themselves with debt problems, services like this many become more and more invaluable.

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Oct 212007

Bad things often happen to good people, and bad credit is really no exception. It’s an unfortunate fact that, for whatever reason, financial difficulties come and go and in their wake they leave a credit situation in need of some work. Perhaps an accident or an illness has struck a family member, or just a series of bad decisions have finally reached an end. The good news is that there are resources available for people with bad credit that will enable them to get things back together financially and rebuild, and a host of bad credit offers to help make the transition to building a solid credit foundation. provides a great consumer resource for those individuals that have some credit problems. This includes a variety of products and services that include offers on some necessary financial instruments such as credit cards, home, auto and personal loans. They also feature several offers focused on getting your finances in order through credit repair counseling.

If you’ve found yourself in a situation where bad credit is holding you back and you’re ready to get things back in order, consider the offers at Compare the deals they have to provide and help yourself to rebuild your credit and get back on track financially.

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Oct 122007

Credit repair can be a tricky animal. Clean credit is certainly an important factor in our lives as we need it to make some of our most crucial financial decisions. If you have bad credit or need credit help, a credit repair company might just be what you need. Now, we’ve discussed in the past here at PFJournal some of the things to avoid when you’re seeking to have a company repair your credit. There are certainly companies out there that probably don’t have your best interests in mind. Fortunately, there are companies like (RMCN) that can help you out.

One of the great things about RMCN is that they have extensive knowledge of the credit repair laws and statutes that are in place to help repair credit problems. Certainly, one of the features in any proper credit repair procedure will have to take into account the various credit repair laws. There are certain guidelines in place to protect you and laws that should ensure the kind of help you can receive. The Fair Credit Reporting Act is one such publication that can really be a guide to repairing bad credit. The problem is that too many companies focus on this document, often charging you just to provide the text verbatim.

RMCN will certainly utilize the information found in the FCRA, but they also take advantage of a great many other Federal statutes, all of which have been put into place to provide some consumer protection. They understand the ramifications of this combined body of law and utilize to help you transform bad credit into a solid credit foundation upon which you can begin to rebuild your financial security. As they make clear, repairing your credit is a gradual process and is improved over time. Any company that simply spits out a few laws verbatim and then tries to take some shortcuts to repair your credit is ultimately doing you a grave disservice.

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Aug 282007

The incomes of so many households are heavily burdened these days with consumer debt repayments. Low interest rates and aggressive marketing campaigns over the past few years, added to rapidly increasing house prices has led to many people getting up to their eyeballs in debt.

Home loan repayments take up the largest percentage of the household income as well as car loans, credit card monthly payments and even student loan repayments (for some people).

Consumer debt levels tend to increase every year and, in recent years, have reached record levels. The worrying thing is, as interest rates continue to rise (as is predicted) there will be growing pressure on household incomes and some people will simply not be able to keep up with their growing debts. That is largely why we’re seeing such problems in the credit industry right now.

Ultimately, all of this easy credit from the last few years will now result in an increase in bad debts and bankruptcies. This will not only affect the individuals directly involved, but also the economy since creditors will have to write-off the bad debts and the economy will slow down due to a decrease in consumer spending. Time will tell just how bad things will get, but no matter what, this should be a good lesson for the next time easy credit rolls out the red carpet.

It is for this reason that economists and governments watch consumer debt levels with great interest before making economic recommendations and policy decisions.

Sep 262005

One of the best ways to protect yourself from identity theft and unreasonable creditors is to monitor your credit rating & credit history with a credit monitoring service.

Credit monitoring services allow you to manage and monitor all aspects of your credit information. You can view your credit history and pick-up any errors or odd transations. You can also view your credit score and view any outstanding balances. Most importantly you can view your credit history at any-time to pick-up transactions that your didn’t make (that may have been made by an identity thief). This allows you to act on this information instantly and reduce/prevent any damage.

One such credit monitoring service is provided by Citi. They are currently offering a trial of their credit monitoring services (this service is $9.95 per month thereafter).

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Aug 302005

Refinancing after a bankruptcy can seem like an especially difficult challenge, but it doesn’t have to be. Six months after your bankruptcy has been finalized, you can find lenders willing to refinance your mortgage. In fact, refinancing your mortgage can help rebuild your credit to good standing in two year’s time. The following steps will help you find the best refinance lender while helping your rebuild your credit record.

Preparing For Refinancing

Right after bankruptcy, you have six months to prepare to refinance your mortgage. Begin by establishing good payment history by regularly paying your bills and current mortgage. This is also a good time to open a credit card account to start establishing good credit history.

If possible, also start building up a savings account. The more cash assets you have, the better your application will look. Consider having a garage sale or taking a second job to raise funds.

Researching Lenders

Once you are ready to refinance, research mortgage lenders and their rates. Online mortgage websites allow easy comparison shopping. Look at both interest rates and fees of refinancing quotes. Usually a slightly higher rate with low fees is the best deal.

With bankruptcy on your credit report, you will typically need to work with a sub prime lender. You can expect to pay a few percentage points above a traditional mortgage, which you can find through online mortgage companies.

Choosing Your Refinancing Package

You may be offered a chance to cash out part of your home’s equity when refinancing your mortgage. If you need to make home improvements or buy a car, this may be a good option. However, if you keep your home’s equity in place, you are improving your credit.

Once you have decided on your terms, you can finish your loan application online or through the mail. Quotes are not guaranteed, so rates may vary slightly once your application has been approved. Before the loan is finalized though you have the opportunity to review the loan again.

After Refinancing

With your refinancing completed, you can plan to lower your interest rates through refinancing in two years by building up your credit score. Continue to make regular payments and add to your cash reserves. Before you apply to refinance again, review your credit report to be sure your bankruptcy closed all past accounts on your record. With a solid credit history behind you, you can apply to traditional mortgage lenders.

Guest Article by Carrie Reeder.

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Aug 232005

Online credit reports are easily accessible to those interested in viewing them. If you have wondered about what kind of credit score you have, you can go on the Internet and look at your online credit report. Most people are concerned that they have good credit and a solid standing with where they are financially. This is an important factor because it pretty much makes or breaks someone’s ability to get a loan for something they may need later on down the road. Your online credit report is an encompassing reality of who you are as a spender-it can show literally every part of your financial history to date. Continue reading »

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Aug 202005

Today’s consumers benefit drastically from the usefulness of credit. Credit cards are especially useful for large purchases, emergency situations, reservations, identification, and protection from fraud. Unfortunately, millions of consumers abuse credit cards beyond their financial earnings. The use of credit results in costly interest payments and late fees, impulse buying, overextended lifestyles, and the unnecessary stress from harassing telephone calls from collectors. Continue reading »

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Aug 122005

Credit card debt can often be crippling and lead to a lot of stress. Even students are not immune as people are getting credit cards at an earlier age and falling into debt. With the increased use of credit cards, more and more people are falling into debt. With hassling creditors, a ruined credit report and a threat of looming bankruptcy, it becomes extremely urgent to find a way out. Continue reading »

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Apr 212005

These five debt negotiation facts along with a few debt reduction planning tools gives you the ability to control your own debt. For many people today credit card debt is a mounting problem and very few know how to successfully negotiate debt settlements. Continue reading »

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Apr 212005

All to often credit is fun, easy to get and even easier to use. Many people find that even though they have an excellent income, that they can not keep up with their current debt load and even if they are managing to make their monthly payments they are not getting ahead. Is there a solution to this situation without having to claim bankruptcy or adversely effecting your credit score? Continue reading »

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Apr 092005

California is a beautiful place to live. There is no doubt about that. But, to live in California you must pay the price, which is sky high real estate prices. Renting, as opposed to buying in California, can save a little bit of money. However, renting has the disadvantage of not building any equity. Continue reading »

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Apr 032005

While most people use the phrase “bad debt” to refer to a lot of debt, or just owing a lot of money, this phrase actually has a very specific use when it comes to financial issues. Bad debt in this case is a debt that cannot be collected. This usually happens when the person who owes the money goes bankrupt, and does not have the ability to pay toward the debt. Continue reading »

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