Debt solutions and debt problem

1. Debt Solutions
Credit Card Debt Solutions That Work Well
Credit card debt solutions do exist, and you can utilize them to get the results you want and need to live a more
comfortable and free life. Don't believe me? Plenty of people are taking advantage of high quality services that
can turn their debt into a clean slate and give them a new lease on life. It doesn't have to be difficult to do this, in
fact, anyone can do it. Finding a good credit card debt solution that gets you results is the real trick, and finding
the appropriate solution. Read on to learn more about what your options are.
Credit card debt solutions come in a wide variety of applications. For example, a common and free way to ease
your debt is to just save more money and be more frugal. Most people who are looking for debt solutions are
looking for much more severe solutions though. Some are considering bankruptcy while others are trying to settle
their debt. Whatever your situation, just remember that there is always a choice at your disposal and as a last
resort you always have bankruptcy.
If you haven't already, make sure you dispose of your current credit cards or minimize the use of them
significantly. The more you use the cards the more you will pile on more debt and take huge leaps backwards.
This is not what you want to be doing when trying to eliminate your debt. If you are suffering with monthly bills that
outnumber your income, make sure you consult a consolidation company that can help you with this, there are a
ton of these available and many of them are non-profit organizations who will help you for free.
When you're getting into more serious situations like dealing with tens of thousands or even hundreds of
thousands of dollars in debt, consulting firms or companies that specialize in this kind of debt can be a huge help
to you. Many services specialize in credi card debt solutions and can help you to rid yourself of debt through a
variety of legal means. Going with these services certainly can cost a bit more but it is well worth having their
expertise at your disposal. For example, consulting a company or firm that specializes in credit card debt
settlement or bankruptcy can greatly benefit you since you can use their experience and knowledge to expedite
the whole process. Their advice and experience comes at a cost, but it is well worth it.
Putting your debt into perspective is an important first step for assessing your next steps.
Knowing how bad your debt is, what your options are, what the best options are and what
local firms can help you sort out your debt are all very important things you should put on
your to-do list. Make sure you do your research on the appropriate measures to take and don't
be afraid to ask questions. The more you know about the process and your options the better
you can make your decisions and save yourself hassle and headaches in the long run.
More about Debt Problem or even more info about Debt Problem

2. Credit Debt Solutions - Credit Counseling Vs Debt Settlement Companies
Credit counseling and debt settlement companies are two ways toward credit debt solutions. There is no doubt
that both are best but still there are differences in these credit debt solutions.
First of all, credit counseling provides training and education about credit management. A creditor counselor helps
people in getting out of debts along with providing guidance about how to stay away from debts. Mostly people
are afraid of credit counseling because according to them it lowers their credit scores. Actually there is no such
thing with credit counseling. A counselor can also negotiate with your creditor to lower down his interest rates for
you. Through this process, people not only get relief but also learn how to avoid these situations in future. Debt
settlement companies don't provide such training and education. They just do things by charging their fees and
they have no concern about the future life of their customer. Once a person has settled his onetime debts and he
is out of business with these companies, they don't care about his life.
Credit counseling provides different kinds of lectures and offer many valuable workshops. A person who wants to
learn more and more about how to save money and how to make budgets can join these programs. A counselor
reads the credit history of a consumer and finds out his weak points. He reads his bills to find out his spending
habits. In this way, they can suggest a good working plan for a person. That plan can help a person in making his
life well even after he is out of debts. In credit debt solutions, this thing makes credit counseling different from
other solutions.
The Best thing to get out of debts as early as possible and avoid bankruptcy is debt settlement. This can be
achieved very easily through debt settlement companies. They will not provide any kind of training but they will
make the whole process much easier for you. Most amazingly, it takes much less time as compared to others. It
eliminates debts up to 50% or even more. In credit debt solutions, debt settlements companies provide quickest
relief.
If you have over $10,000 in unsecured debt it may be a wise financial decision to consider a debt settlement. Due
to the recession and overwhelming amount of people in debt, creditors are having no choice but to agree to debt
settlement deals. To find legitimate debt reduction help in your state and get free debt advice then check out the
following link. Free Debt Help

3. How to Choose the Right Debt Management Company to Help Solve Your Debt Problem
Posted June 19, 2011
There are many different debt management companies. We suggest the things to consider
when choosing the right one to help you solve your debt problems.
When looking for advice for solving a debt problem many people will first turn to the
internet.
The web is an excellent place to find information about debt solutions.
However, with between 300-400 debt management companies in the UK, the results you are
given by a search engine will probably include a huge number of different sites.
There have also been recent reports in the news about some rogue debt management
companies who have provided poor service. Choosing which advice to take and the company
to trust can therefore be difficult.
You should use the following advice will help you make your choice and get on the right road
to becoming debt free.
Licensed by the OFT
The first thing you need to do is check that you are dealing with a properly licensed company.
Any company and charity which provides advice or solutions for debt problem must have a
consumer credit license issued by the Office of Fair Trading (OFT).
The OFT take the licensing of debt management companies very seriously and have recently
taken away the licenses and closed down various companies who do not act in the required
way.
The license number should be clearly displayed on the web site you are looking at. You can
check the license is genuine by logging onto the OFT website and searching on the license
number.
A properly licensed advisor should explain the different debt solutions available to you
including a debt management plan (DMP), individual voluntary arrangement (IVA), Debt
Relief Order and bankruptcy. They should help you understand the advantages and
disadvantages of each in the context of your financial situation.

4. If you cannot identify the company's license number then you should steer clear of the
organisation.
Free v Fee
All reputable and licensed debt management companies should give you free unbiased advice
about the debt solutions available to you. You should never have to pay for initial advice.
If you then decide that a debt management plan (DMP) is the right solution for you, you need
to consider whether you want to pay for help to implement this.
Charities like the CCCS do not charge a fee to help put a DMP in place for you.
This is therefore initially a very attractive option. However, many of the services are provided
on line and you might struggle to speak to an advisor in person. As a result mistakes can be
made and a poor solution implemented which will not resolve your problem.
On the other hand, if you use a commercial debt management company, you will always
speak to an advisor and should get a more personal service. However, you will be charged a
fee for this.
There is no evidence that a using a charity to implement a DMP will give you any advantage
in terms of getting interest and charges frozen or preventing further action being taken against
you such as a charging order against your property.
In fact, the commercial debt company may be able to do better in this area as they have more
time and resource to be able to keep working with your creditors until an agreement on
interest is reached.
The IVA option
If you decide than an individual voluntary arrangement (IVA) is the right solution for you,
you cannot implement this by yourself. You must use a licensed insolvency practitioner (IP)
to help you.
Generally you get access to an IP by speaking to a reputable debt management company who
will first check that an IVA is suitable for you.
You will not be charged a direct fee to complete an IVA. Your IP will be paid fees late but
these come out of the payments you make and you do not have to pay any extra to cover
them.

5. The fees charged are regulated by the creditors and will generally be the same whichever IP
you choose.
Some companies will ask you to pay an instruction fee to prepare your case before it goes to
your IP. There is no need to pay a fee like this. You will not get any better service and it is no
more likely that your IVA will be accepted by your creditors.
As such, you should base your decision on which IP to use on whether or not you feel
comfortable with the person you are speaking to and company you are working with.
Feel comfortable
At the end of the day, the most important thing when dealing with your debt is to work with a
licensed organisation which you confident will do a good job for you.
An ideal way of doing this is by getting a recommendation. However in the absence of this,
one way of becoming familiar with how a particular company works and the advice they give
is to follow their experts on an on-line debt forum.
If you do not feel you have the time to do this, as a minimum you should speak to 2-3
different debt management organisations.
In the light of the advice already given above, you will then be able to weigh up what you
have been told and the solution suggested.
You should then choose to work with the organisation which you feel most comfortable to
work with.