Plan to Eliminate Debt With Debt Consolidation Loans

Need a plan to eliminate debt with debt consolidation loans? A comprehensive plan to eliminate debt using debt consolidation loans must take into consideration your current financial situation but a blue print for conquering your debt can be made quickly that if followed will help you towards your goal.

Plan To Eliminate Debt Now

The first step towards eliminating your debt is to make it the complete and whole focus of your energies. Make eliminating your debt your number one priority, and plan to spend much of your waking time towards pursuing this goal. Dedicate massive effort and you will get unexpectedly rewarding results.

The second step on the path to eliminating your debt is to seek help immediately. Do not fall into a trap of thinking you need to do this yourself, or that up side down finances are embarrassing. There is nothing embarrassing about money, it is neither something to be ashamed of or to hang your coat 100% on, it is morally neutral and as such it is perfectly acceptable to talk about and ask for help when you need it.

Use Debt Consolidation Loans

Examine your current debt situation closely. Do you currently have many outstanding credit cards with high interest payments and monthly bills that are sapping your income? Do you hold your current debt in multiple personal loans or secured loans with cars and housing debt?

There are very few overwhelming credit situations that could not benefit from debt consolidation loans. Once you have decided that you want to eliminate your debt, you need to transform your debt into longer term loans with better interest rates that will help you pay down your principle balance faster. Consolidation loans will free up your income to pay down your debt faster.

Massive Effort For Massive Results

Allocate massive effort towards achieving your goal of living debt free. Reduce your expenses, cut out restaurants and live on rice, chicken and water for months if you have to. Dedicate your energies towards defeating your debt and eliminating your creditors and you will be amazed at what you can accomplish. When you achieve debt freedom, your celebration will be that much more powerful.

by Tanya_Caliban

How to Find a Top Rated Company - Top Debt Consolidation

To find a top debt consolidation company that is also a top rated company may take a little investigation on your part. In order to get started, you would need to do an internet search for debt consolidation companies. You will then have a list of numerous companies to pick from. Visit some of their websites and see what they have to offer.

The best company will be the one that offers the services that you need at a fee or interest level that you can afford. In other words, it must be the best for your personal financial situation as well as your own preference. There are more factors to your preference than just the interest rate. It may be that you want a company that is physically near to you to be your lender. This may in many cases be possible. Or, after calling several of the companies and discussing your financial obligations, you may be impressed by customer service at a certain company. You may have already done business with one of the companies, or at least know of someone who has, and this may be a factor in your decision.

After narrowing the field to maybe three companies, investigate further. Call the Better Business Bureau and make sure the company of your choice has no complaints, is certificated and has a qualified staff to serve you. If this all checks out, contact your chosen company and let them go to work for you.

The real point is, no one can actually tell you which debt consolidation company is right for you. There are so many deciding factors, you simply have to decide what you are looking for and make your choice based on what is right for you.

After deciding and putting the company to work, you will have a great deal of stress taken off of you, and will feel better all around.

by Hector_Milla

Steps to debt consolidation

Seeing a credit counselor is not absolutely necessary just because you are having debt problems. There is no law that states anyone is required to do so. Many people in debt are afraid to consolidate their own debt because they fear any further harassment by creditors. One must first know that if you have written or called a creditor and are trying to pay off debt after negotiation and a creditor tried to contact you about that debt, they are doing something that is illegal and proper authorities should be called to make a complaint.

If you are trying to lower the interest you pay to creditor and want to invest less in debt payment, a do-it-yourself debt consolidation is a wise choice.

These are some steps to help you through a do-it-yourself debt consolidation:

1. Prioritize all debt. Make a list of all debts and put them in an order of priority. Make sure to note who the creditor is of each one.

2. Determine affordability. Make a list of all your income, including wages, child and working tax credits, child tax and state benefits, etc. Then determine how much you can afford to pay each debt every month.

3. Contact creditors. Start with the top of your priority list and call that creditor first. Find out if still have the debt or have sold it to a collection agency.

4. Validation of debt. If the debt is now being held by a collection agency, ask them to validate it before any payment is made. You can use a debt validation letter for your request.

5. Negotiate with creditors. Negotiate to lower the interest rates to reduce the payment.

6. Confirm affordability of debt payment. Once a payment amount is agreed on, make sure it is not more than what you can afford.

7. Consolidate all credit cards. Take multiple credit cards and consolidate them through a balance transfer.

by Hector Milla