Saturday, November 22, 2008

How to Succeed with 0% Credit Card Balance Transfers

Credit card debt is a harrowing but very real experience for many people Worldwide and it has a crippling effect on people’s economical situations and well as wider implications on the World Economy at large.

Unfortunately when carrying large amounts of debt on credit cards and when only paying off small amounts or the Minimum Payment every month you find out that you have hardly paid off anything at all and the debt is either growing or just paying at almost the same hefty amount this can lead to many stresses and frustrations which in the long term can also cause unease and illness.

There are ways in which you can alleviate credit card stress and that is for opting to go for credit card consolidation through a 0% balance transfer. What this actually means is that you apply for another credit card which gives you a period of time where you DON’T have to pay any interest on the amount that will be transferred from one credit card to another.
You can now also go online and check out credit cards that offer 0% balance transfers and at a glance on a comparison site you will see all the different cards that can assist you in your quest to reduce your debts in a cheaper manner. You can then either apply online or directly through the Banks or Agencies that are offering these great deals. Try to locate a deal that best fits your current lending needs and will give the best optimum long term results for you. Also remember to take your time in getting the best deal, don’t rush things as this can cost you money.

Once you have located the deal that suits you best and you have acquired your new card and time off paying interest try to take advantage of the 0% deal by paying off as much of the debt as you can and if you can pay ALL of it off then this is much better for you. After you have accomplished this try not to rely on credit cards as a source of buying goods unless you have the courage and discipline to pay the balance off in full once the statement arrives so you take advantage of their 45 days credit but you DON’T pay them a dime in interest!

Wednesday, November 12, 2008

Debt Consolidation Advice for your Financial Needs

Debt Consolidation is a much talked about subject today as many people have wound themselves up in debt and thus the Credit Crunch has squeezed many into a dark corner. Help is close at hand though and there are many Debt Consolidation Experts ready to give you sound and impartial advice as long as you are prepared to seriously sort out your situation.

There are many places where you can seek out advice and the first place to go is always your local bank of course. If you don’t see much light from your bank then debt management companies are the best way to go as they take out a lot of the headaches associated with debt consolidation.

What debt management companies do for a small monthly fee is liaise with all the companies whom you owe the debts and they haggle and negotiate to reduce all the amounts payable and to freeze any further interest being added to the accounts. This can save you thousands of dollars and also reduces the stress levels associated with debts to up to 100%.

Choosing the debt management option is one of the best ways in which you can reduce debt but there are also other ways in which to get sound advice and this is by logging online and sending in some information over the Internet to advisors that can assist you further. Getting your credit score details is a valuable piece of information at this point and this will be used to assess your current financial situation and what can best be done about it under the circumstances. Advisors or debt councilors are often very understanding and are eager to work with you in a sincere manner to help you get rid of chronic debt problems.

Online debt advice is quite simple to get hold of and more often than not doesn’t cost you anything save a little of your time but it could save you much hassle and money if you take your life in your hands and deal with your debt crisis before it careers out of control.

So the first thing you need to do is draw up a list of your Creditors, what you owe and your monthly outgoings. It is also a good idea to make a list of your income and expenditure and see what you can cut out of your monthly expenses as a start to reducing your outgoings so you can see what is left that you can use to comfortably get yourself out of debt quickly and efficiently.