Friday, October 30, 2015

Struggling With Your Finances? These Debt Services Can Help

Hey neighbors,

In every neighborhood across the country, there are likely to be households struggling to keep their finances in order. But, what if it happens to you, or one of your loved ones? I thought I would give some helpful advice to point you in the right direction today, so take a look and see if they can help. If you are struggling with debts, the best thing you can do is to confront them head on. These services will give you that opportunity.

Debt emergencies

There are several debts that you have to count as priority. Taxes, home loan payments, and utility companies all have to paid what you owe them, or it could have severe consequences on your life. It’s the only situation where anyone would recommend a payday loan or some kind of crisis loan. However, there are also specialty loans to consider. For example, you could take a look into the terms and conditions of Reliance lending if you are struggling with property taxes. The main point is - you have to pay these debts off first. If you don’t, you could be hit with enormous fines, suffer a repossession, or in severe cases, end up in prison.

Consumer protection

For all other debts, it’s important to understand your rights as a consumer. Borrowing money is just like buying a product, and there are regulations that all lenders have to follow. Their products and services - or loans - must comply with these rules, and if they don’t, you can use it to your advantage. Head over to your local consumer protection agency and find out if there are any complaints about the firm you are dealing with. It won’t get you out of your debt, but it will give you the confidence to stop them harassing you.


Credit counseling

Debt is a big issue, and it can sometimes get on top of people. Thankfully, there are plenty of reputable credit counseling services out there that can help you get through it. They will help you prioritize your debts, save money, and can contact your lenders on your behalf. Most are non-profit, but they will expect a fee to cover their costs. Be careful about these charges, as not all debt counseling services offer good value - and it could lead to even more debt.

Management plans

Debt management plans are a way of paying off your debts little by little. You give the DMP company whatever you can afford each month, and they will pass on the money to your creditors over a specified period. In truth, DMPs are unnecessary, as they only do what you could achieve yourself. And, of course, they will charge you a fee for providing their service. It’s important, see a credit counselor first, to make sure that you are entering a program you can afford. It can take a long time to pay off your debts if you aren’t paying much each month.

I hope this has helped you see the kind of help that is out there for you or your loved ones if you are struggling with debt. If you are planning to use any service, don’t forget to check out their reputation with the Better Business Bureau first.

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