Archive for February 20th, 2010

Debt Experts

Saturday, February 20th, 2010
DEBT ONE FINANCIAL


Debt Help Expertsis a perfect place for the people suffering from financial hardships. We understand that how it pains when you fight with your heavy debt amount and paying a large part of your income for installments. Even you are paying so much amount of money and it’s not going to end because it covers only interest part of your debt and your debt amount remains same.

To overcome this heavy burden of debt we have the right plan for you to make you free from heavy amount of debt and lot of stress. We work diligently and professionally with your creditors on your behalf to settle your unsecured debt for a fraction of what you owe by arbitrating an agreed settlement amount with your creditors. Once the total debt amount is lowered, it is obvious that the monthly installments that you owe will be lower too. This helps to solve your problem quite easily.

Throughout the program, we communicate with your creditors on your behalf and eventually you will no longer be dealing with burdensome phone calls and letters from your creditors. Debt Help Experts maintains and continues to develop relationships with creditors throughout the country. By establishing cooperative and professional relationships with each creditor we are able to reach the most favorable settlement offers for our clients. Debt Help Experts is independent company not affiliated with your creditors which means we work directly and 100% for you!

*Estimates based on prior results; individual results will vary based on circumstances, including your ability to save sufficient funds and complete the program. We do not guarantee that your debts will be lowered by a specific amount or percentage or that you will be debt-free within a specific period of time. We do not assume consumer debt, make monthly payments to creditors or provide tax, bankruptcy, accounting or legal advice or credit repair services. Not available in all states. Please contact a tax professional to discuss tax consequences of settlement. Read and understand all program materials prior to enrollment. ** At program completion if your total debt reduction is less than 3 times the Service Fees you have paid to us, we will refund a portion of those Service fees. The amount of the refund will be calculated so that the amount of Service Fees we retain is equal to only 1/3 of your total Debt Reduction. Please keep in mind that Retainer Fees are generally non-refundable.



Trish

Using 0% Apr Credit Card to Become Debt-free

Saturday, February 20th, 2010
Noreen Ruth


rmally, when you’re looking to consolidate credit card debt you have the following options: get a debt consolidation loan -or- apply for a home equity loan. But if your credit card debt is still manageable, you may want to consider consolidating your balances with 0% APR credit cards instead. Using a 0% APR credit card will help you pay off your balances and spend less on interest charges!

To use a 0% APR credit card to pay off your debts, follow these steps:

1. Transfer your existing credit card balances to a new 0% APR credit card.

2. Continue to pay down your balance as usual. But instead of paying only the minimum each month, also pay the amount of interest you would have paid with your other card. This will reduce your debt even quicker!

3. Watch your introductory period. When it’s about to expire, shop around for a new 0% APR credit card and transfer your balances again.

4. Continue this cycle until you become debt free.

0% APR Credit Cards vs. Debt Consolidation:

So you’re considering a debt consolidation loan instead of a 0% APR credit card. Let’s see how much you could save and how much quicker you could pay off your debt using the method shown above. Here’s an example:

Assume you have an existing credit card debt of $15,000. You would pay $250 per month until the debt is paid off. Your debt consolidation loan was approved at 7% (much lower than your original 12% credit card!)

1st Year Principal $2,014

2nd Year Principal $2,160

3rd Year Principal $2,316

4th Year Principal $2,483

5th Year Principal $2,662

6th Year Principal $2,855

Total Interest Paid $3,516

Total Amount Paid: $18,516

TOTAL Number of Payments: 70

Now let’s compare paying off this same debt using 0% APR cards

1st Year Principal $3,600

2nd Year Principal $3,600

3rd Year Principal $3,600

4th Year Principal $3,600

5th Year Principal $ 600

Total Interest Paid $ 0

Total Amount Paid: $15,000

TOTAL Number of Payments: 50

You would save $3516 over a six year period. Plus, you will be done with your payments 15 months sooner. Imagine being debt free over a year before you planned!

Words of Advice:

Although using 0% credit cards to pay down your debt is a great option, try not to switch credit cards too frequently. Doing so can negatively impact your credit report. Shop around for 0% APR credit cards that have the longest introductory periods and the lowest APRs (after the intro period) to buy you a little breathing room. Also, don’t fall into the trap of spending again on your old credit cards. Either close them or deactivate them so that you don’t get yourself into further debt. And don not overspend with your new card either (even if it is 0%)! Finally, make sure you apply the money you saved on interest to your new payments to help eliminate your debt faster.



Jamie