Credit Card Debt Consolidation Loans: Dig You Out of the Payment Grave

If you have money in your pocket, you can spend only as much as you have, but there is no such limit when you are a credit card owner. Most people cannot resist the temptation of buying new cars, clothes, furniture, jewellery, etc., once the credit card is bouncing in their pockets. As a result, credit card debt is head and shoulders above all other debts and is acting as a constant drain on many families and individuals budget.

Once you find yourself caught in the web of credit card debt, effectively the only way out of that hazardous financial crunch to regain your footing is, opting for a Credit Card Debt Consolidation Loan. Because of your negligence, first you bear the pain of paying a high interest for availing credit card services and then you pay a severe rate of interest for repaying the Credit Card Debt Consolidation Loan.

Credit Card Debt Consolidation Loan [] will help you out in the following ways:

  • It will save you from the humiliation of turning bankrupt.
  • You will not face harassment at the hands of your creditor.
  • Instead of paying too many installments, you will be paying a fixed monthly installment.
  • The rate of interest you will be paying will be comparatively low.
  • Paying creditors on time will improve your credit rating.
  • It will lead you to a road of more healthy personal finances.
  • Availing a credit card debt consolidation loan is comparatively easy for homeowners, as they can take advantage of soaring property prices and can offer the same as security to obtain secured credit card debt consolidation loan. They shall have to pay a low rate of interest, because the lender is assured of his borrower’s repayment.

    But no such safety net is available to people living in rented accommodations. They have no option but to go for unsecured credit card debt consolidation loans. Such a loan will also carry a high rate of interest. Adding to that, if you have a poor credit history, getting an unsecured credit card debt consolidation loan becomes really difficult, unless the borrower is ready to offer some kind of an asset (say a vehicle) as security.

    No doubt, a credit card debt consolidation loan helps you in reducing your payment amount and sets you back on track, but too much of credit card debt may nullify the effect of this magical pill.

    New Program Available For Real Estate Investors With High Credit Card Balances

    Being that I am constantly on the lookout for ways to make the lives of my real estate investor clients easier, I was amazed at the new system that I uncovered to deal with high balances on unsecured personal revolving credit cards.

    Each day I run into investors that have hit a brick wall when it comes to their investing. They have a good enough credit score mind you, but since they live and breathe investing, they use their credit and they use it a lot. You would think that this is a good thing right? Well, not when it comes down to trying to establish business lines of credit or to be approved for that next loan to take down a property.

    Near the end of every credit report, you will see what they consider your debt to income ratio is. This is the amount of you credit limits and the amount of these limits that you are using. Believe it or not, these companies like to see it below 50% and a great user to them is one that uses 20-30% of the available balance.

    Before this article, an investor with high personal income to debt ratios, might as well look for another line of work until they can pay down their cards, but not any longer. I have located a system that I now implement in my services offered that actually gets rid of the personal card debt that an investor has. We basically offer you an unsecured bridge loan to pay off all of your unsecured credit debt and then easily line you up to receive hundreds of thousands in unsecured business credit. Once we pay off your personal unsecured debt, your scores and income to debt ratios will be a thing of beauty. Plus, you will pay off this loan with a partial credit line that we can establish in your business name (again unsecured). Now you are personally debt free and your business has assumed all of your debt. You will be in a fantastic situation indeed.

    Managing Debt in a Credit Card World

    A sad but true fact about people in the United States is that they are piling up more and more debt every day. Whether it is mortgage loans, credit cards, or any other kind of indebtedness, more and more people are staggering under the weight of unmanageable debt. Most of them have no clue how they got into this predicament. Even more perplexing to them is how they’re going to start digging themselves out of the financial hole they’ve fallen into.

    If you’ve ever been faced with a pile of bills you’re unable to pay, you know the feelings of panic that set in. Creditors start hounding you day and night, and even small payments do little to assuage the feeding frenzy they’ve launched against you. True, you should be paying these bills, but if you can’t, you can’t. As the old saying goes, you can’t get blood out of a turnip, and you definitely can’t get money out of an empty bank account.

    Maybe you’ve already tried everything you can think of. You’re working two or even three jobs, trying to make enough extra money to start decreasing your debt. However, by the time you pay the babysitter, your income is already half gone. Then there are high gas prices which make your commutes to these jobs more and more expensive. At the grocery store, you can’t even walk in the door and buy a few items without running up a $100 tab, because grocery prices have risen so rapidly. But the welfare of your family has to be your top priority, and few parents are willing to watch their children go hungry just so that they can keep hostile creditors happy.

    The debt management industry has been booming in recent years. So many people are in this precarious financial situation, and all of them are looking for assistance to get themselves out of debt. Unfortunately, not all of the debt management companies that have cropped up are honest and actually help their clients become debt free. As with shysters everywhere, some of the people who promise to help you are actually sharks circling a sinking ship, and they hope to relieve you of whatever cash you still have available. You have to be careful when choosing this route.

    The best way for you to manage your debts is by learning how to better handle your own finances and not to trust in others to do it for you. First you need to realize that you aren’t alone. Approximately 78% of all Baby Boomers are seriously in debt at a time when they are nearing retirement and should be debt free. They still owe for their homes and cars, and many of them are deep in credit card debt. This didn’t happen to their parents’ generation, so why is it happening to them? And why has it happened to you?

    Being in debt isn’t the smartest thing a person can do, but it has come to be the norm in today’s world. If you want to earn back your financial freedom, it’s time for you to start educating yourself about the best ways of getting yourself out of debt and starting to save for the future. You can live on what you earn, but it may not be easy. Take a look at your lifestyle. What things that you consider a part of your life would your grandmother have considered a luxury?

    Values have changed over the years, but our pocketbooks and wallets haven’t kept up with the trends in spending, and that has created the financial mess so many people feel they can’t do anything about. They’re wrong, however. They can do something about it with a little hard work, and so can you. Isn’t it time you gave it a try?