Understanding consumer debt: The good, the necessary, and the …
Using credit cards is a fact of life for many of us, but the days of leveraging ourselves into stratospheric levels of debt are long gone. No longer is it fashionable (or wise) to have accordion files of credit cards in our wallets. Here are some tips for debt management and understanding which debts can work in your favor, which debts are necessary, and which ones are lethal to achieving financial security.
Debt management starts at home: Looking in the mirror and in your wallet
Understanding how you use credit cards is a big step toward eliminating credit card debt. Keep track of your spending for a month and categorize your credit card expenditures. Chances are you’ll immediately notice certain areas where you can cut back or stop spending altogether. Identify where you can cut back, and be realistic. It’s not likely you’ll never order another pizza, but doing it once a month instead of every Friday night is a realistic choice.
Getting to know your debt: What kind are you carrying?
Financial experts typically categorize debt as good or bad. We’re taking a different approach by categorizing consumer debt as good, bad but necessary, and just plain bad:
- Good debt: This represents an investment in your future. Purchase money mortgage loans and student loans are sound investments as long as you avoid borrowing beyond your means. Note that we specified purchase money mortgage loans. A few years ago, home equity loans and lines of credit were funding everything from speed boats to luxury vacations. Borrowing against home equity can be good or bad, depending on your reasons. Interest paid on mortgage loans and student loans is typically tax deductible; consult a tax accountant or financial advisor for details.
- Bad but necessary debt: We’re living in uncertain economic times, and unemployment and loss of health insurance can send your finances straight down the drain. Some credit card companies offer a period of low or no interest for a specific period; this can provide several months for you to pay off a medical bill. There are also dedicated credit cards available to pay veterinary and dental expenses; these plans offer interest free repayment periods depending on the amount financed.
- Bad debt: Meeting your girlfriends for an afternoon of retail therapy? Cash is the new plastic. Take your debit card or cash instead of your credit cards. Avoid getting hooked into opening new credit card accounts; you may receive deep discounts on your purchases for one day, but if you’re paying off your credit card over time, any discount you received is eaten up by interest.
Identify and manage your spending style, your debt categories, and what you owe for each to establish a foundation for planning and prioritizing how to pay off your credit card debt. Seek debt consolidation and credit counseling help to help you resolve unmanageable debt and put your budget back on track.
(No Ratings Yet)
Loading ...Falling consumer credit card debt: Are we learning a lesson?
This week’s news brings interesting implications for consumer finances. First we learned that existing home prices have slumped to record lows, which has the media buzzing about the “new role” of owning a home. The new role is that our homes no longer function as limitless ATM machines. No more buying electronics, recreational vehicles, jewelry, and designer wardrobes with home equity loans and lines of credit. Under these circumstances, it appears that consumers would again turn to credit cards for the instant gratification of discretionary purchases. No way. Americans may finally be getting the message about the high cost and consequences of carrying high credit card debt.
Federal Reserve: Credit card debt decreases for 21st consecutive month
The Federal Reserve reports that credit card debt levels are continuing to fall, and that average credit card debt for individuals has fallen to $4951 as of June 30. This is the first time since 2002 that average consumer credit card debt has fallen below $5000. This is a trend worth continuing. Although recent legislation helps consumers in some ways by limiting credit card fees and requiring credit cards to notify customers in advance of arbitrary rate increases, many credit card companies are raising interest rates to recoup the income they’re losing due to caps on penalty fees. High cost debt is a particularly heavy burden during times of economic uncertainty.
Debt consolidation and credit counseling services provide help, support
Debt consolidation through a home equity loan or personal debt consolidation loan is often a first step to gaining control of credit card debt. What if you can’t borrow against your home or can’t qualify for debt consolidation loans? In situations where you can’t qualify for debt consolidation loans, a consumer credit counseling service may be able to help. These agencies act as a credit card debt consolidation service without loaning money. Instead, consumer credit counseling services offer debt consolidation and additional benefits:
- Reviewing your finances and developing a cash based budget
- Designing an affordable credit card debt repayment plan
- Negotiating with creditors to lower or eliminate finance charges and fees (based on need)
- Communicating with creditors on your behalf, which usually stops harassing calls to you, your home, and your work
- Administering your debt repayment plan for a low monthly fee, often based on ability to pay
- Avoiding bankruptcy through financial counseling and affordable debt repayment
Don’t put off taking “charge” of your credit card debt a moment longer. Contact a credit counseling service for debt help today.
(No Ratings Yet) Loading ...Credit Card Debt: Floating Down the River of Ruin
Carrying excessive consumer debt is not only a burden in the figurative sense, it weighs on many aspects of daily living. Ask yourself the following questions, and you can better understand how debt can damage more than your budget:
- Do your know how much you owe? Credit card debt increases quickly if you’re making minimum or late payments. Make a list of your creditors, your balances, and the annual percentage rate (APR) you’re paying for each account to help you prioritize repayment and make a debt management plan.
- Do you argue over money? If you and your significant other can’t agree on household finances, and are accusing each other of overspending, you may be headed up “debt creek” without oars.
- Do you hide or avoid opening credit card bills? This indicates two problems–you don’t want to face what you owe and/or are concealing the truth from yourself and your partner. Aside from forgetting to pay hidden bills, you can also violate your partner’s trust. Getting debt help before navigating such troubled seas may save more than your finances.
- Do you hide purchases made with credit cards? This is a sign of overspending that can lead to out-of-control credit card debt.
- Are you treading water? If you’re only making minimum payments on your accounts or taking cash advances from one card to pay another, you’re making a bad situation worse.
- Do you avoid answering the phone? If collectors are calling, you’re already in trouble with credit card debt. Contacting a consumer credit counseling and debt consolidation service can help you arrange affordable repayment terms without accruing additional penalty fees.
- Are you having problems at work? If your boss has warned you about receiving (or avoiding) collection calls at work or your debt is causing you to be distracted, it’s time to get debt help.
- Do you run out of cash well before your next payday? This indicates a strong need for debt management and credit counseling. Non-profit credit counseling can help you develop a cash-based budget along with solutions for repaying credit card debt.
- Do you frequently borrow money from friends and family? Borrowing money “just for a few days” gets old if you’re asking for another loan soon after repaying the last one. Getting a debt consolidation loan through your bank or seeking credit counseling can help take the pressure off family and friends.
Rather than risking your health, relationships, and employment, please get debt help immediately. Credit counseling services can be the lifesaver you need when you’re drowning in credit card debt.
(No Ratings Yet) Loading ...5 Signs That You Need Debt Help
Credit cards are a convenience, but carrying balances can quickly lead to unmanageable debt. Here are some signs that can indicate you’re approaching the danger zone with credit card debt:
- You don’t know how much you owe: If you open your bills and focus only on the minimum payment amount due, you could be headed for trouble. “Debt denial” can provide a momentary escape, knowing how much you owe and where you use your credit cards can help you develop a cash based budget.
- You make impulse purchases using credit cards: Sure, everyone deserves a treat now and again, but if you’re consistently making unplanned purchases on credit cards, they can create financial disaster. Keeping track of what you spend, where you spend, and how much you spend using credit cards is useful to identify problem spending.
- You avoid facing debt issues and discussing them with your “other half”: Putting away unopened bills and hiding debt from your partner are definite signs that your debt is out of control. Financial problems can cause family problems and problems at work; getting help through consumer credit counseling and debt consolidation services can help you establish a cash based budget and an affordable debt management plan.
- You typically make only the minimum payments required: Your debt is no problem; you can always make the minimum payments. Creditors are required to show how long it takes and how much it costs to pay off your balance with minimum payments. Reading this information on your monthly statements provides a clear picture of how difficult and expensive it can be to pay off credit card debt with minimum payments.
- You have little or no savings: Financial experts recommend paying yourself first by funding savings and retirement accounts before paying your bills. If your debt payments make saving difficult or impossible, it’s time to get debt help.
Debt Consolidation: A First Step Toward Debt Management
If you have good credit, you may qualify for a debt consolidation loan for enough to roll all of your credit card balances into one loan with one payment. This streamlines your debt management chores, but can lead to trouble. Debt consolidation loan consequences include resuming credit card spending after your balances are paid off. This sabotages your finances by creating more debt.
Non-profit credit counseling and debt consolidation services provide financial counseling, and can also negotiate affordable payment arrangements with your creditors. You are required to surrender your credit cards, but gaining freedom from credit card debt is worth sacrificing your plastic habit.
(No Ratings Yet) Loading ...Consumers can have love-hate relationships with credit cards; they love the convenience and benefits offered by credit card companies, but paying high interest and fees makes it difficult to reduce credit card balances even when paying more than the minimum amount required each month.
Legislation designed to protect consumers is meeting with mixed reactions from credit card companies. Anxious to recoup losses associated with the new rules, some credit card companies are raising interest rates, increasing or imposing membership fees, and are reducing “niche” credit cards tied to retailers and services that reflect consumers’ interests and spending habits.
The economic downturn has caused some credit card issuers to slash credit lines and reduce or charge more for other financial services including checking and savings accounts. While consumers with good to excellent credit can negotiate with credit card issuers and financial institutions, consumers with fair or poor credit ratings may not be able to negotiate lower rates and fee waivers.
Good Credit? Here’s Some Good News
Effective debt management requires paying close attention to who and how much you owe. Credit card companies compete for business by offering low introductory rates to open a new account. These offers can also encourage transferring balances from your existing credit card accounts to your new credit card account. This can be a great way to reduce the cost of debt if:
- You can pay off the debt transferred within the introductory period of no to low interest.
- Transfer fees (typically 3 to 5% of each balance transferred) plus the introductory interest rate on the new credit card are significantly less than the annual percentage rate you’re paying on your credit card balances.
- There are no membership fees or other fees that reduce your potential savings.
- You can stop using credit cards once you’ve completed your balance transfers.
Newsweek reports that some credit card issuers are lowering rates they charge during introductory periods and extending the length of the introductory periods, which can vary from six months to a year or more. This can help you pay off credit card balances at less cost.
Bad Credit? Consumer Credit Counseling and Debt Consolidation Programs Offer Solutions
Credit counseling and debt consolidation services may be able to help if you cannot qualify for low cost balance transfer offers or debt consolidation loans. Credit counseling and debt consolidation services typically work with clients to find affordable solutions to repay credit card debt. This process requires reviewing your financial situation and determining how much you can afford to pay toward credit card debt.
Credit counselors can also help you design a cash based budget and negotiate the terms of your debt repayment plan with your creditors. These programs provide the added benefit of debt consolidation because you make one scheduled payment to your credit counseling service and they pay your creditors.
(No Ratings Yet) Loading ...Recent reports of falling FICO credit scores is not surprising in light of high unemployment rates, stagnant real estate markets, and ongoing home foreclosures. Unfortunately, other factors can lower your credit scores even if you’re paying your bills on time, haven’t lost your job, and aren’t in foreclosure.
- Credit utilization ratio: You can calculate this number by dividing the amount of debt you owe by the amount of credit you have. If you owe $3000 between three cards that have a combined total credit line of $10,000, your credit utilization ratio is 30%. Financial advisors recommend keeping your balances at about one third of your available credit, or about 33%. Unfortunately, if credit card issuers cut your credit lines, your credit score can decrease.
- Credit card issuers cutting credit lines: The days of carrying a wallet full of credit cards with five-figure credit lines are gone. Credit card companies are reducing credit lines to limit their risk. In the example above, owing $3000 against $10,000 total credit lines would put you in good shape, but if your total credit line is reduced to $5000, owing $3000 would increase your credit utilization ratio to 66.6%, which is well over the recommended utilization level of 33% or less.
- Unemployment: As high unemployment rates linger, more consumers find it necessary to make minimum credit card payments and may also increase balances using credit cards for essential expenses. Missing payments can take a big bite out of your credit scores very quickly.
- Sluggish housing markets: This can cause problems for homeowners who need to sell their homes to relocate to a new job or for those who can no longer make payments. If you can’t sell your home, or your lender won’t approve a short sale, you may be forced into foreclosure. Contact a housing counselor for help to avoid foreclosure.
- Reduced income: Taking lower paying jobs while waiting for your next professional gig can help pay the bills, but if you fall short, using credit cards can seem like a temporary “bridge” to make ends meet. High interest rates can send credit card balances out of control.
- High interest rates: Although legislation designed to protect consumers is now law, credit card companies are responding by increasing interest rates to replace revenue lost when certain practices and fee assessments were outlawed. The complicated methods credit card companies use to calculate interest can cause interest owed to increase rapidly.
Eliminating credit card debt saves money and improves your financial security; develop your own debt repayment plan or get help from credit counseling and debt consolidation programs. Although your credit rating can decrease during a debt management program, you can increase your savings and eventually rebuild your credit by making mortgage, vehicle, and student loan payments on time.
(No Ratings Yet) Loading ...High interest rates and fees can make paying off credit card debt difficult, but you may be able to improve your progress by borrowing to pay off your debt. The key is borrowing enough to pay off credit card debt at a much lower annual percentage rage (APR) than your existing debts carry. APR is the amount of interest and finance charges expressed as an annual percentage of a balance owed. The APR for each of your accounts displays on your monthly statements.
Debt Consolidation: Considering Your Options
Several factors impact your ability to borrow money for debt consolidation:
- Amount of your debt: It can be difficult to get debt consolidation loans when you have thousands of dollars in credit card debt. It may be necessary to attack your debt in phases. Always address the highest APR debt first.
- Your credit scores: Finding an unsecured debt consolidation loan can be difficult if not impossible if you have compromised credit. Avoid borrowing money from high cost lenders to make monthly payments when you run short of cash. This only adds to your debt and the APR on such loans is prohibitive. Instead, consider seeking credit counseling and debt consolidation help from a certified credit counseling service.
- Your available credit: If you have sufficient available credit on lower APR credit cards, you may be able to consolidate high APR debt by transferring balances to lower APR accounts. Before transferring balances, read the fine print on the balance transfer offer to determine any interest charges (look for zero percent over 12 months) and pay attention to transfer fees. These can add up if you’re transferring high balances. Finally, determine what the APR will be after the low or no interest rate period expires. If the rate will adjust to an amount equal to or higher than your current interest rates, reconsider using balance transfers.
If you cannot qualify for an unsecured debt consolidation loan, you may be able to get a loan using your car as security for the loan. But, this does give the lender the right to repossess your car if you cannot repay the loan.
Borrowing from Friends and Family: Worth the Risk?
When borrowing from financial institutions, you agree to repay your debt according to specific (if undecipherable) terms and conditions. Borrowing money from family and friends involves different dynamics because family members and friends may be reluctant to draw up a loan agreement. If you cannot repay a loan from family or friends, you risk damaging relationships and creating financial problems for others. It’s important to treat personal loans as you would a bank loan. Draw up an agreement showing how much is owed and the repayment terms. All borrowers and lenders should sign and date the loan agreement.
Understanding borrowing options for debt consolidation requires researching options and prioritizing your needs. Credit counselors can provide financial counseling, debt consolidation through negotiation with your creditors, and can typically help with reducing finance charges.
(No Ratings Yet) Loading ...Credit Card Debt: Avoiding Extra Finance Charges
Credit card debt can seem like a fact of life, but carrying high balances on credit cards can be very expensive. Although credit card companies choose to emphasize low initial rates and other promotions, variable rates, penalty fees, membership fees, and newer fees including “processing fees” are like having piranhas in your wallet; your money is eaten up before you know what happened to it.
CARD Legislation: How it Helps (and How it Doesn’t)
Recent legislation under the CARD Act is intended to control skyrocketing credit card fees and costs, but it doesn’t limit the interest rates consumers can be charged. This loophole allowed credit card companies to hike interest rates before the law, which eliminates or reduces certain fees, became effective. The bottom line with credit card debt is that there is likely no way to completely eliminate paying finance charges unless you pay off your debt entirely.
Consumers can expect a new wave of correspondence from credit card issuers before the second phase of the CARD Act becomes effective on August 22. Late charges and other penalty fees on credit card accounts will be limited to $25; watch for notifications of interest rate increases or changes in benefits offered through credit card programs. If you cannot pay off your credit card balances, these tips can help with avoiding extra costs:
- Set up automatic payments: You can arrange automatic payments to your credit card companies each month by specifying an amount and date you want funds transferred. These services typically provide email notification of payments.
- Pay off highest APR accounts first: Although it’s wise to pay more than the minimum required payments, paying off the highest annual percentage rate (APR) account first can help you save money over time. The APR of all finance charges appears on your monthly credit card statements, and consists of all fees and interest charges expressed as an annual percentage of your current balance. Your APR can change from month to month, but comparing APR rates helps determine which accounts cost the most.
- Negotiating with card issuers: If you have good credit and a solid payment record, contact credit card companies and ask them to reduce interest rates and eliminate membership fees.
- Debt consolidation loans: If you have an established relationship with a financial institution, you may qualify for a personal loan to pay off credit card debt. The risk with debt consolidation loans is continuing to use your credit cards after paying off balances; you may end up with more debt instead of less.
Credit counseling and debt consolidation programs can help if you’re overwhelmed or uncertain about resolving debt problems.
(No Ratings Yet) Loading ...Reports of Reduced Credit Card Debt: Not All Good News
Recent reports of falling rates of U.S. consumer credit card debt may come as a relief to debt burdened consumers, but not so fast. Time magazine’s blog, The Curious Capitalist, explains that falling credit card debt levels are not entirely attributed to consumers paying down credit card debt. The blog cites a recent study indicating that of $51 billion in U.S. credit card debt paid down during the first quarter of 2010, $29 billion was paid down by consumers, but the remaining $22 billion was removed from active status after being charged off by credit card issuers. Charge offs represent debts liquidated through bankruptcy or those deemed uncollectible. First quarter debt statistics also paint a rosier picture with consumers paying down holiday debt, and using tax refunds to pay down debt faster than usual. If you’re struggling with credit card debt, examining your budget and paying more toward credit card balances can help you gain control before you need consumer credit counseling and debt consolidation assistance.
Debt Management: Tips for Doing it Yourself
- Know what you owe: It can be tempting to avoid facing how much you owe, but knowledge is power; it can help you evaluate and change your budget to pay down credit card debt faster.
- Determine the APR for each account: The annual percentage rate (APR) measures the cost of each credit card account including interest and fees as an annual percentage of the balance owed. Plan on paying your highest APR debt first.
- Evaluate monthly income and expenses: Add up all take-home pay and other sources of household income. Total your monthly expenses, including housing, utilities, food, insurance, home maintenance, clothing and grooming, pet care, and medical expenses and insurance. Don’t forget to include amounts for retirement savings and emergency savings. Subtract this total from your net household income. The resulting amount is what you have available to pay your credit card debt.
- Reduce expenses or increase income: If the amount available for repaying debt is equal to or less than minimum payments for your credit card debt, you need to reduce expenses or increase income. Taking a second look at your budget can show where you can trim expenses; otherwise, consider raising money through garage sales, online auctions, or taking a part time job.
- Pay off highest APR debt first: This helps reduce finance charges on revolving credit card debt. Pay the most you can toward your highest APR account, while making minimum payments on your other accounts. When your highest APR debt is paid off, use the amount you were paying toward it plus the minimum payment you’re paying to liquidate the next debt, and so on.
If you can’t pay off credit card debt on your own, please seek debt help from a consumer credit counseling and debt consolidation service. These firms work with you and credit card companies to establish a budget and affordable debt repayment plan based on your income.
(No Ratings Yet) Loading ...Thanks to recent legislation, credit card companies are now required to print a toll free phone number for non-profit credit counseling on your credit card bills. Wall Street Journal writer, Karen Blumenthal, notes that although non-profit debt help agencies often receive funding from credit card companies, they offer services more likely to help consumers with resolving debt issues. Recent data suggests that consumers are either getting a clue and not carrying credit card debt, or are paying down their existing balances. The Federal Reserve reports that consumer revolving debt fell from $935 billion in the first quarter of 2009 to $853 billion during the first quarter of this year. Credit counseling professionals report that debt problems affect consumers in all income ranges; whether you’re an executive forced into early retirement or a secretary who’s been laid off, credit card debt offers equal opportunities for sleeplessness, stress, and financial problems.
Credit Card Debt: Falling into a Hole is Easier Than Climbing Out
Credit card debt is considered unsecured debt, which means that credit card companies have no collateral–your home or car–to fall back on if you fail to repay your credit card debt. Unsecured debt represents a higher risk, which is why it carries higher interest rates and other finance charges. High rates and fees add to your credit card balances, and making minimum payments is not enough to manage credit card debt effectively. Debt consolidation loans may be unavailable if you don’t qualify for a home equity loan, but credit counseling services can work with you to consolidate all of your debts under one repayment plan with one monthly payment. Credit counseling services typically provide a free initial consultation to review your finances and debt; they typically cannot help if your debt cannot be paid off within five years. If you do enter into a debt consolidation agreement with a consumer credit counseling service, they may be able to negotiate lower payments, interest rates, and fees to achieve affordable payments.
Getting Debt Help: Don’t Ignore the Elephant in the Room
Completing a credit counseling and debt consolidation program requires understanding how and why you got into debt. If you’re a compulsive shopper, you can easily sabotage your debt consolidation and repayment program unless you determine and address the reasons for your uncontrolled spending.
(No Ratings Yet) Loading ...- This blog covers a wide variety of debt consolidation and loan topics.
We rely on a large network of financial experts and leading authors to write the content for the DebtHelp.com Blog.
Cost of Bankruptcy Has Risen Since 2005 Reform
Understanding consumer debt: The good, the necessary, and the ...
- August 30, 2010–September 5, 2010
- August 23, 2010–August 29, 2010
- August 16, 2010–August 22, 2010
- August 9, 2010–August 15, 2010
- August 2, 2010–August 8, 2010
- July 26, 2010–August 1, 2010
- July 19, 2010–July 25, 2010
- July 12, 2010–July 18, 2010
- July 5, 2010–July 11, 2010
- June 28, 2010–July 4, 2010
- June 14, 2010–June 20, 2010
- June 7, 2010–June 13, 2010
- May 31, 2010–June 6, 2010
- May 24, 2010–May 30, 2010
- May 17, 2010–May 23, 2010
- May 10, 2010–May 16, 2010
- May 3, 2010–May 9, 2010
- April 26, 2010–May 2, 2010
- April 19, 2010–April 25, 2010
- April 12, 2010–April 18, 2010
- April 5, 2010–April 11, 2010
- March 29, 2010–April 4, 2010
- March 22, 2010–March 28, 2010
- March 15, 2010–March 21, 2010
- March 8, 2010–March 15, 2010
- March 1, 2010–March 7, 2010
- February 22, 2010–February 28, 2010
- February 15, 2010–February 21, 2010
- February 8, 2010–February 14, 2010
- February 1, 2010–February 7, 2010
- January 25, 2010–January 31, 2010
- January 18, 2010–January 24, 2010
- January 11, 2010–January 17, 2010
- January 4, 2010–January 10, 2010
- December 28, 2009–January 3, 2010
- December 21, 2009–December 27, 2009
- December 14, 2009–December 20, 2009
- December 7, 2009–December 13, 2009
- November 30, 2009–December 6, 2009
- November 23, 2009–November 29, 2009
- November 16, 2009–November 22, 2009
- November 9, 2009–November 15, 2009
- November 2, 2009–November 8, 2009
- October 26, 2009–November 1, 2009
- October 19, 2009–October 25, 2009
- October 12, 2009–October 18, 2009
- October 5, 2009–October 11, 2009
- September 28, 2009–October 4, 2009
- September 21, 2009–September 27, 2009
- September 14, 2009–September 20, 2009
- September 7, 2009–September 13, 2009
- August 31, 2009–September 6, 2009
- August 24, 2009–August 30, 2009
- August 17, 2009–August 23, 2009
- August 10, 2009–August 16, 2009
- August 3, 2009–August 9, 2009
- July 27, 2009–August 2, 2009
- July 20, 2009–July 26, 2009
- July 13, 2009–July 19, 2009
- July 6, 2009–July 12, 2009
- June 29, 2009–July 5, 2009
- June 22, 2009–June 28, 2009
- June 15, 2009–June 21, 2009
- June 8, 2009–June 14, 2009
- June 1, 2009–June 7, 2009
- May 25, 2009–May 31, 2009
- May 18, 2009–May 24, 2009
- May 11, 2009–May 17, 2009
- May 4, 2009–May 10, 2009
- April 27, 2009–May 3, 2009
- April 20, 2009–April 26, 2009
- April 13, 2009–April 19, 2009
- April 6, 2009–April 12, 2009
- March 30, 2009–April 5, 2009
- March 23, 2009–March 29, 2009
- March 16, 2009–March 22, 2009
- March 9, 2009–March 15, 2009
- March 2, 2009–March 9, 2009
- February 23, 2009–March 1, 2009
- February 16, 2009–February 22, 2009
- February 9, 2009–February 15, 2009
- February 2, 2009–February 8, 2009
- January 26, 2009–February 1, 2009
- January 19, 2009–January 25, 2009
- January 12, 2009–January 18, 2009
- January 5, 2009–January 11, 2009
- December 29, 2008–January 4, 2009
- December 29, 2008–January 4, 2009
- December 22, 2008–December 28, 2008
- December 15, 2008–December 21, 2008
- December 8, 2008–December 14, 2008
- December 1, 2008–December 7, 2008
- November 24, 2008–November 30, 2008
- November 17, 2008–November 23, 2008
- November 10, 2008–November 16, 2008
- November 3, 2008–November 9, 2008
- October 27, 2008–November 2, 2008
- October 20, 2008–October 26, 2008
- October 13, 2008–October 19, 2008
- October 6, 2008–October 12, 2008
- September 29, 2008–October 5, 2008
- September 22, 2008–September 28, 2008
- September 15, 2008–September 21, 2008
- September 8, 2008–September 14, 2008
- September 1, 2008–September 7, 2008
- August 25, 2008–August 31, 2008
- August 18, 2008–August 24, 2008
- August 11, 2008–August 17, 2008
- July 28, 2008–August 3, 2008
- July 21, 2008–July 27, 2008
- June 16, 2008–June 22, 2008
- June 2, 2008–June 8, 2008
- March 17, 2008–March 23, 2008
- November 12, 2007–November 18, 2007
- November 5, 2007–November 11, 2007
- October 29, 2007–November 4, 2007
- October 15, 2007–October 21, 2007
- September 17, 2007–September 23, 2007
Chris Rocks is the Regional Director of the National Credit Federation (NCF). NCF is a nationwide membership-based organization that assists consumers recovering from a financial difficulty and those who need a significant increase in their credit score.
Chris began his financial services career as a Financial Advisor helping young families with risk management and asset accumulation strategies. It was during that time that Chris realized that many of these young families also needed someone to guide their choices with regards to debt management.
He made the transition into the mortgage industry where he first worked as a loan originator and later the Vice President of a small mortgage company. As Chris came across clients who had suffered through financial challenges and saw the difficulty they had in re-entering our credit driven economy, he discovered there was a real opportunity to leverage his unique background and help others.
He can be contacted by visiting his personal site, GoodCreditLiving.com.
Francine L. Huff is the Publisher and Editorial Director of Super Savvy Publishing, LLC, which provides editorial and publishing services. She is a gifted author, freelance journalist, and motivational speaker who has entertained and motivated a variety of audiences through workshops, panels and keynote addresses. Francine is the author of The 25-Day Money Makeover for Women, which has inspired and motivated many readers to rein in poor financial habits, become good stewards over their money and work toward a debt-free life. She has appeared on a variety of TV and radio shows. Francine previously worked for the Wall Street Journal, where she was the spot news bureau chief, a news editor and a copy editor. She has interviewed a variety of financial professionals about financial issues and strives to present information about managing money in an easy-to-understand format that is accessible to people of all backgrounds and income levels.
Karen Lawson is a freelance writer with more than 15 years of experience working in mortgage banking and loan servicing. She holds BA and MA degrees in English from the University of Nevada, Reno.
- Auto Loans (1)
- Consumer Credit Counseling (39)
- Credit Cards (19)
- Debt Advice (57)
- Debt Consolidation Options (31)
- Debt Consolidation Scams (8)
- Debt Management Options (27)
- Debt Settlement (16)
- DebtHelp.com (170)
- Economy & News (8)
- Helping Consumers (25)
- Managing Debt (28)
- Mortgage Fraud (1)
- Saving money in today's economy (17)
- Your Credit (9)
- You will recieve a reminder when we post a new article to the DebtHelp Blog.
Loading ...