28 July 2008

Debt Got You Down?

No matter how deeply in debt you may be, you need to stop adding to your debt and to begin paying off your creditors--NOW. If you ever wish to own a home, buy a new car, take out an educational loan or even to qualify for certain jobs, a good credit rating is a must.

I was reading How It Works on the Debt Free 24, a credit consolidation website. If you are interested, just complete the online forms and a customer service rep will contact you about your debt and current money flow and needs. If you come to an agreement, Debt Free 24 will contact your creditors and negotiate lower interest rates on your debt. Some credit card companies will also roll back penalties and clear your credit as long as you stay current.

Once all the creditors are working to help you repair your debt, you will be given one monthly payment to send to Debt Free 24. They will pay your bills. In most cases, the payment is lower than what you are now paying for all your bills. You are also repairing your credit and reducing your debt.

I am sure you are also paying a fee to Debt Free 24 as well. However, using this type of debt management program can help you reduce the time it takes to pay off your current outstanding debts! Paying less interest will mean your debt will re reduced at a faster rate.

Make sure you understand all the ins and outs of the services provided by debt consolidation firms before you sign any contract. However, I know three different people who went from paying 27+ percent interest rate on their credit cards to paying 8 percent. If you are disciplined and do not start the circle of indebtedness again, you can be debt free.

I wish you all the success.

6 comments:

Paula said...

Some good advice offered here. If people are in debt I think it is very important to try and stop the pain getting any worse. I had some bad debts until recently, and I know you don't like commercial sites mentioned, but I think it good to check out price comparison sites such as eComparison as they are a good source of finding ways to reduce your outgoings, whether through debt consolidation or by other means.

free debt consolidation said...

To help debt-burdened people, many free debt consolidation programs are available today with finance institutions and other organizations. Thanks for the info!

CyberCelt said...

@paula-I could not follow you back to your blog as your profile is private. Thanks for stopping by.

@free debt-I am leaving your link because it may be helpful to another reader. However, your comment violates my comment policy.

Kirk said...

very solid post, allow me to borrow a line from a song from one of my favorite bands "the best time to start is now"...

CyberCelt said...

@kirk-I want a train horn.

Carving Electric Knife said...

Hi, thanks a lot for this information =)

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