Create a budget to reduce the debt!

Some very important factors, such as, for example, is a grace period and subsidies, a part of the package of benefits for your consolidator for you to negotiate.

Many of these desperate consumers are considering bankruptcy, insolvency, but may be a legacy, one must live for years to bear. Bankruptcy stays on your record for a minimum of seven years, and may be difficult or impossible to obtain the credits necessary for the interim period. There are many types of debt, including loans basic syndicated loans, bonds and bills. Debt, especially large sums of debt, including mortgage or security interest other than some of the assets of the debtor in this case the creditor any rights to the goods if the debtor fails to repay the debt must be secured and defaults on loans.

If your goal is to lower interest rates and reduce your monthly payments to avoid bankruptcy, consolidate your bills and a monthly payment, or simply out of debt the fastest way possible, then a debt consolidation loan could have the answer to offer.

Budget preparation

No man is an island. We all need help once-in-a-po '. We? King not only for personal matters. We? We are talking about financial matters. You reach a point where you buy something, by necessity, but you can? T will pay in full again. An example is a house. Now is the time to pay for what you have. You must plan framework, what is to be saved if your time has expired and you have to shell out the money owed and then) (plus interest, you laugh? T have difficulty on this.

Priorities, which are borne by the debt first. Prioritize your bills. Make a list, it would have been more organized, because you see directly in front of him. This is what you need the goals. First, do what must be those who could pay schedule will take priority for another time.

The key demands are debts that should be on top of the list. These are

- Rent or mortgage. Of course, who triumphed in his mind? T pay so as soon as possible. Rent or mortgage bills on time helps you have a roof over his head.

- To support the children. If you don? T pay on time, there? Sa chance you can be kept behind bars.

- Cost of energy and utilities. Whenever possible, a budget for gas, heating, water, electricity or telephone when you get your salary. Here, when the bill comes, then you have something prepared.

- Car payments. This also includes the maintenance of the car.

- Other loans guaranteed. If you don? T-back guarantee, the lender has the property, even without court interference.

The non-essential debts can be revoked, because if you do not want to be paid, that don t? T, that much of a side effect. It? S is a desirable goal, but not really a priority. The only problem will be taken into consideration when you don? T does not pay the principal requirements for a long time is the negative image that could project on your credit report is possible.

- Warehouses and the cost of gasoline. If you are unable to pay this may lose their privileges of credit. Where? S is too large, you can be sued.

For many of those who could use wisely the capital to be significant. A home equity loan can be used to pay for items dollar high, pay tuition fees, and can be used to pay high-end credit card account. To deal with debt collectors. There is a law that gives certain conditions for debt collectors, how and when they ask, you should pay. The Federal Fair Debt Collection Practices Act, clearly states that it is not able to collect the debts properly, giving false statements or practices that are not fair when they come to collect money from you. Problems paying your bills? First by creditors reminder? Are your accounts passed to debt collectors? Six for the loss of their home or car trouble?

The main reason for this is the risk that in order to (a lower interest rate, thus ensuring an overall rate of less expensive payment), you must have a certain kind of an advertisement for the loan back. If you have an attorney, the debt collector must contact the attorney rather than you. If you do not have a lawyer, a collector may contact other people, but only to find out where you live, what is your phone number and where you work. Collectors usually are prohibited in contact with these parts more than once. In most cases, the collector can not tell anyone except you and your attorney that you owe money.

- Loans from friends and relatives. Morally speaking, there is an obligation to pay, but sometimes, why? King family, we understand that if we can be? D. Check with them if you delay the payment and ask them for how long.

- Newspapers and magazine subscriptions. To and from, if you haven? T to pay, right? Ll amount to much.

- Legal and accounting bills. If these remain unpaid after a long period, then? S if you could be sued.

- Others are unsecured loans. In unsecured loans, can not guarantee for the debt. This means that the creditor can sue to collect the debt.

Here? S is the most confusing. Some of the bills boundary between essential and nonessential. If you allow these bills could be delayed for a longer period, which will have consequences in your personal life.

- Auto Insurance. The result is, in some states will lose the driver? S license.

- Medical expenses insurance. If you've spotted an item, you may have a difficult time, new insurance for the future.

- Credit cards and debit cards. If you don? T pay your bills on time, you may lose credit privileges and would have a difficult time for the application to have a new credit card.

Now that we have laid the foundations of how to pay the bill first priority, we are moving forward to a time-frame. It? And there you have a calendar in front of him. A Palm Pilot or calendar in Microsoft Office to do the program. Mark the dates you should pay the debt specific? was essential or not essential. So what you can do is to repeal the law, which is assigned for this debt.

Regarding the budget, it is always better to prevent than cure. You know what you are in a month. In these circumstances in mind, it is necessary, what percentage of your salary in the process of assigning them. Then it better to keep to that budget. If so, how much you should spend your free time, so what? S, what you should spend on leisure. When at one point, he went to sea, then the victim would not look like food. What seems to be, right?

Guilt is hard to live it, reduce debts today! So even at home, you should also list down the number one for you. Have the discipline to stick to your priorities, budget and time. If successful, pay the bills won? T, no problem. It may be convenient to make a payment instead of several. Alternatively, you can improve your cash flow in the short term, from monthly expenses. But these costs, it is possible over time, because he pays the debt for a longer period. Interest rates on credit cards, debt consolidation loans through traditional lenders may be based on the score card. If there is probably a credit card, debt consolidation loans at a lower interest rate obtained. Stop spending on things that are not absolutely necessary.

Each individual needs to what is "necessary" to define, but you can say that a packed lunch to work, bring the coffee, instead of stopping at Starbucks, that the subscription and cancellation of HBO. Guilt is hard to live, but we all have them and deal with every day. Sometimes it is manageable, sometimes they seem unlikely to head above water, and, unfortunately, often feels as though keep drowning in it!

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