How to Payoff Your Debts with Debt Settlement

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Dec 202023
 


If you are behind on paying your debt, beside debt consolidation, there is another method to settle your debts with your creditors; this process is called Debt Settlement. Debt settlement or also know as debt negotiation, is a process of contacting your creditors and negotiating a lump sum to payoff you debts. Sometimes the negotiation is initiated by your creditors; they may send you a letter offering you with a settlement amount, most of time is less than 50% of you balance if you make the payment in full within 10 to 20 days.


Debt settlement can be the most economical option for you to get rid of your debt. But there are some drawbacks. This article will review the negotiate terms to payoff your debt using the debt settlement method and alert your on the debt settlement drawbacks.


How Negotiate Terms to Payoff Your Debt


You can do this yourself (DIY), but if you think you are no confidence in getting it done, you can also hire a professional debt negotiator (also know as arbitrator) to do it for you. Debt settlement with amount 50% or less than your balance is a common practice in the market as the settlement in full.


Debt settlement can save you the most money in interest and principal payment; but you need to have the money to make lump sum payoff of your debt. Thus, you need to determine your current financial affordability before choosing this option to payoff your debt.


One thing you should keep in mind is because you are negotiating with your creditors to outcome an agreement to settle your debt with some reduced amount. Some creditors will report that remaining amount as deficiency balance to the credit bureaus as a negative item and it will be noted at your credit report and impact your credit scores. Hence, if you can arrange a deal with your creditors so that they will NOT report the deficiency balance then that will be your best course of action; if not, your credit will suffer for 7 years.


Determining What You Can Afford


First of all, you need to determine your affordability to get the money for lump sum payoff of your debt. The common ways of getting this money are through saving, tax refunds, home equity loan, second mortgage or refinance your existing house & etc.


If you are planning to get the lump sum of money through a loan, you should analyze your ability to borrow the money and reviewing your repayment capability of your new loan, else you may drop into another debt trap later.


You may get the service from a professional debt negotiator to set up a payment plan for you and negotiate with your creditors once you have saved the money for the settlement.


Which debt to settle first?


Usually the best debts to settle first are the ones which charge higher interest rates, and that will make the most dramatic change in your monthly budget.


Choosing a professional debt negotiation service


Debt negotiation services have more resources and knowledge to help you get the best payoff for your debt. Selecting a reputable debt negotiation agency is important for you to get the best service out of it. Develop your own list on the potential debt negotiation agencies and check them with the Better Business Bureau at www. bbb.org. We recommend ADNS (Attorney Debt Negotiation Solutions) Services for debt settlement services because they offer a free consultation with a financial analyst.


Summary


Debt settlement can be the economical ways to get rid of your debts. But you need to analyze your ability to borrow or access money, as well as reviewing your debts, and the monthly payments you could afford, to see if settlement is right for you.

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Can You Choose the Type Of Bankruptcy Filling?

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Dec 192023
 


In general, you can choose the type of bankruptcy for filling, under certain circumstances you may only eligible for certain type of bankruptcy filling. In most cases, debtors will choose chapter 7 for filling because it’s fast, effective, easy to file, and doesn’t require payments over time. Chapter 7 bankruptcy usually takes the least time to complete. Other common types of bankruptcy filling include chapter 12 and chapter 13.


Yes, you can choose the type of bankrupt filling but you may not eligible for it. Let see the criteria of filling for a few common bankruptcy types.


Bankruptcy – Chapter 12


If you are a farmer or a fisherman, for instance, you may consider chapter 12 filing. Chapter 12 bankruptcy filling is tailored for “family farmers” or “family fishermen” with “regular annual income”. It is more streamlined, less complicated, and less expensive than chapter 11 (bankruptcy filling for large corporate reorganization).


Chapter 12 has allowance for situations in which family farmers or fishermen have income that is seasonal in nature. Thus, debtors with seasonal income will find it to be advantageous to file their bankruptcy under chapter 12. In additional, Relief under chapter 12 is voluntary, and only the debtor may file a petition under the chapter.


Bankruptcy – Chapter 7


Beside the farmer and fishermen, most ordinary debtors will choose chapter 7 as their bankruptcy filling type. The key factors of the popularity of this bankruptcy type are it does not need payments over time, easy to file and less expensive. However not every persons who are seeking of getting debt free by filling bankruptcy will be eligible to file under chapter 7. To be eligible for chapter 7 bankruptcy filling, you must meet the below criteria:


    You must pass the median income test:


    You calculated average income must not more than the median income for your state (You can find the median income by state information from www .usdoj.gov/ust; click the Mean Testing Information).



    If you failed the median income test, you second chance for chapter 7 filling is on mean test:


    Mean test is calculated based on your disposable income. To get your disposable income, calculate your average monthly income as describe in above paragraph. From that amount, subtract your allowed expenses (stated in IRS) and monthly payments you will have to make on secured and priority debts. If your monthly disposable income after subtracting these amounts is less than $100, you pass the means test, and will be allowed to file for Chapter 7.



Bankruptcy – Chapter 13


You will be forced to file your bankruptcy under chapter 13 if you are not eligible for chapter 7. Or if you have file bankruptcy before under chapter 7, then you need to go for chapter 13 for second bankruptcy filling.


Chapter 13, which has also been known as a wage earner’s plan, is an interest-free repayment plan where a debtor repays at least some of his or her unsecured debts with regular payments over five years.


In chapter 7 filling, debtors need to liquidate their assets to pay to their creditors (creditors will share the amount from the liquidation); whereas, the debtor generally can continue to live in his or her home so long as the debtor complies with the terms of the Chapter 13 arrangement. This is one of the advantages of chapter 13 over chapter 7 bankruptcy filling.


In Summary


If bankruptcy is your ultimate option to get out of debts, you can choose the bankruptcy type to be file against, but you may not eligible for the bankruptcy type of your choice if you do not meet the required criteria. The best way to confirm it is check with bankruptcy attorney on which bankruptcy type you are eligible for.

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Select Weight-loss Friendly Foods while Dining Out

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Dec 182023
 

The average American eats 2 out of 3 meals away from their homes. This is easy to believe with the busy lifestyles many families lead. You don’t have to choose between weight-loss and eating out. Many restaurants are changing their menus to suit weight-conscious Americans.

Plan your evening eating out ahead of time so you can prepare your body. Banking calories is an easy way to avoid weight gain. Simply cut calories in the meals prior to dining out, so you can afford to eat a little more. However, keep in mind that banking calories are about cutting back, not cutting out completely. Some people skip meals throughout the day so they can stuff themselves at the restaurant. They often end up eating more than if they had eating 2 small meals prior to a sensible dinner out.

Exercise a little extra the days prior to your evening out. It is always great to burn some extra calories and build lean muscle tissue that keeps your metabolism going strong for hours after your physical activity.

Before you go out, plan on a general order. If you wait until you arrive, the smell and visions of tantalizing foods can be the death of your current weight-loss. Try not to even look at the menu! It is recommended to stick with a fresh fish or chicken special of the day, with a side salad or soup, and a roll or baked potato. Stick to the basics and you will be set both nutrition and calorie wise.

Try to be the first one to order. Ever notice how people follow suit when other people order something unhealthy. Maybe it is less guilt if someone else does it too? By ordering first you will be less likely to change your mind, and others may even be inspired and follow your healthy lead.

Don’t be afraid to ask your server questions, you are the customer after all. Some menus don’t list the healthier options so ask you server for any suggestions making your meal lighter such as low-fat or fat-free milk and fresh fruit.

It is recommended by dieting professionals to start your meal with water, diet drinks, salads, and clear soups. This will help curb your appetite before you eat your main course.

Once you are served, enjoy your meal. Never dine out in a rush! You’ve probably paid a lot of money for your meal so why not savor every bit? It takes ten to twenty minutes for your brain to fully register you are full.

While eating out go easy on the alcoholic beverages. Alcohol is loaded with unnecessary calories and no nutrients. Be especially limited on sweet flavored mixed drinks as they are extremely high is sugar.

After you’ve enjoyed your mean, have the table cleared of leftovers immediately. Out of site means out of mind when it comes to food. If you really must have dessert, share one with someone.

It is common to feel like hitting the hay after a large meal, think Thanksgiving night. This feeling of drowsiness hits because the heart pumps extra blood and oxygen into your digestive tract and away from your brain. This feeling can be avoided with a short walk, or a little stretching.

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Say Goodbye to Joint Pains

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Dec 172023
 

“Health is wealth”—a phrase oft-used yet the most-ignored in today’s world. But this would be more meaningful to the unhealthy, who have faced the health hazards and know how important it is to stay fit. Health gone, you would soon feel that the whole world around you is nothing but a miserable excess, which has no place for you. That is precisely why you should take caution before it is too late. Retain health, or at least restore it, before it gets out of hand.



One very common health hazard these days is osteoarthritis, a kind of arthritis (inflammation of joint/joints), commonly seen in aged people. It is a degenerative joint disease, because it affects the joints. In this, the surface layer of cartilage (slippery bone tissue) crumbles and erodes, thereby increasing the friction of bones under the cartilage. When the smooth movement of bones is hindered, it naturally causes pain, swelling, and limited joint motion. With time, the joint may lose its original shape too. Therefore, it is imperative to treat this early. Joint pains are also common in athletes and animals. Overuse of bones and muscles wears away their cartilage and leads to joint diseases.



People dread this disease because it not only gives the body an intolerable discomfort, it also restricts normal daily activities, thereby pushing the affected into serious depression and disgust. But this is not impossible to get rid of.



Regular rest or exercise is effective in minimizing joint pains. Some people take the “feel good” route to a pain-free life, taking the malfunction in stride, while others draw their sustenance from various educational and support programs. You may also consider going for the many joint pain relief medications available in the market these days, which soothe pains, reduce inflammation, restore the outworn cartilage and facilitates joint movement.



The commonest treatment to osteoarthritis or joint pains is the amino sugar Glucosamine. Synflex is one such Glucosamine-rich medicine made to arrest joint pains. It can also work wonders on your pets. Dogs and cats are known to have benefited a lot from this pain relief medicine Syn-flex. And if you are a pet-lover yourself, you would know how painful it is to see your loving pet in pain.



The joints mean the most for people in sports; therefore, they need to keep them working all the while. So many athletes prefer Syn-flex in their busy racing lives as this shows results in about ten days. Synflex or no Synflex, joint care health products are abundant in the market. All that is important is for you to pick up the right medicine and bid a bye to joint pains forever. Good luck!

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The Basics of Computer Crash – Spyware

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Dec 152023
 

Spyware can definitely wreak havoc on your computer system. Your computer could be working fine one day at peak performance and with no problems and then the very next day, suddenly you log on and it takes forever to load your basic operating system.

When you finally get logged on and online, you notice how slow things seem to be moving. Pages on the web are taking forever to load and you’re getting pop-up windows filled with advertisements. Your homepage is different and filled with more advertisements. You suddenly get a new pop up window with a pornographic image in it. You shake your head wondering what’s going on. It’s as if your computer has been taken over by someone else.



Well, it has. A spyware program has invaded your machine. The spyware threat is real. Anyone who uses a computer is susceptible to spyware infection. In fact, nine out of 10 Internet-connected PCs are infected with spyware that can:


    Open your PC to identity theft
    Expose your personal information and private accounts
    Corrupt your hard drive
    Share your passwords and user names



Spyware threats can be any application that may track your online or offline PC activity. It may save or transmit those findings to third parties. These unwanted programs are stealthy and often attach to your computer without your knowledge – or appropriate consent. Many nefarious spyware threats can record keystrokes to steal your social security number, bank account information and credit card numbers, or hijack your modem to dial expensive, pornographic phone numbers.


Adware is a different type of program that lets companies track your online activities and tailor pop-up ads based on your choices.


What are the symptoms of spyware?
If you use the Internet, it’s very likely some form of spyware threats are already at work on your PC. Your computer may be infected if you recognize any of these symptoms:


    Sluggish PC performance
    An increase in pop-up-ads
    Mysterious new toolbars you can’t delete
    Unexplained changes to homepage settings
    Puzzling search results
    Frequent computer crashes



How do spyware threats find Us?
Through seemingly harmless tasks spyware threats may attach itself to your computer. These unwanted programs may start watching your actions right away or the programs may wait, triggering covert activities later. Even if you’re careful you can pick up these dangerous, unwanted programs through normal Web activities like:


    Sharing music, files or photos with other users
    Visiting a media-supported Web site
    Opening spam e-mail or an e-mail attachment
    Downloading free games, toolbars, media players and other system utilities
    Installing mainstream software applications without fully reading license agreements


How can I remove spyware?
Detecting spyware is tough and spyware removal is even more difficult. Even if you think you’ve successfully removed an unwanted program manually, a remaining tickler file can trigger a complete reinstallation the next time you start your PC. And as a survival tactic, malware programs often leave similar traces elsewhere on your system so the game of cat and mouse never ends.


For these reasons, the most effective way to detect and safely remove spyware threats from your system is antispyware software. Be cautious about the rogue and suspect antispyware products.


To check out more about antispyware, go to AntiSpyware Download.

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Free Online Education Opportunities

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Dec 142023
 

Since education is a vital factor in the success of every generation in today’s ever changing society, taking advantage of the Internet and all of its resources is a good way to start on the road to knowledge.

If there were ever a word in the English language ranked number one, it would have to be the word free. That little word implies many different things. Like everywhere else on the planet the Internet has its own large variety of free offers. One of the most useful and beneficial free offers found online is a free online education. Education is easily the most important gift any individual can give to himself or herself and with the help of the Internet, advanced learning can be free of charge.

Besides just being free there are a lot of other advantages to a free online education. Most programs available on the Internet offer many incentives that not only save money, but also your valuable time. These online courses save time by being entirely based on the Internet saving you long commute times and scheduled class periods.

Since they are completely online, you have the flexibility to choose when it is convenient for you to work on your studies. The capability to set your own pace makes time management and scheduling easier as well. Another advantage to learning using a free online education is there is no class standard to be met. The student determines the level of achievement they want to attain.

There is also no need to be concerned about expensive textbooks and transportation worries. Considering that the courses are conducted entirely online the need for those things is eliminated. Of course the biggest reason to take advantage of free online education is that it is free and as such won’t place a financial burden on you or your family.

One of the biggest questions most people have about free online education is what types of programs and courses are available. Fortunately the creators of these websites have been creative and proactive in their approach to education. The interested student will find programs geared to a variety of different disciplines.

Help with obtaining a GED, high school tutoring, and college preparation are just a few of the kinds of courses on the Internet. For those people looking to move beyond the basic educational levels, courses in career and vocational training and college level classes are the answer. College graduate advancement courses are proving to be very popular in aiding graduates in obtaining a more prestigious education level.

Lifelong learning courses and home schooling curriculum are just a couple of the less known, but vitally important options available in a free online education environment. Online education is versatile enough to benefit anyone looking to expand his or her educational experience.

So, Since education is a vital factor in the success of every generation in today’s ever changing society, taking advantage of the Internet and all of its resources is a good way to start on the road to knowledge.

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Debt Solutions – Your 12 Ways Out from Debts (Part 3)

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Dec 132023
 


Being in debt is no fun, especially if you are struggling to make ends meet. Because debt is a complex issue but there may be more than one solution. This article will outlines 12 common methods use by most of debtors to get rid of their debts. Among these 12 debt solutions, there may be one or more options which you can use to solve your financial problem.


4 of the 12 methods: Self Repayment Plan, Debt Settlement, Debt Consolidation, Debt Consolidation Loan had been discussed in part 1 and part 2. This part will focus on another 2 common debt solutions: Credit Counseling and Cash out Refinance.


Credit Counseling


If you do not have self-discipline to work out a budget plan for yourself and a repayment plan with your creditors, then stick to it to get your debt payoff; or you debt balance has reached to an unbearable level, you should consider to get service from a professional service from credit counseling agency.


Through the credit counseling, the counselor will discuss your entire financial situation with you and will advise you on how to realistically manage your money and your debts, help you develop a workable budget, and usually offer free educational materials and workshops.


Normally the credit counseling agency doesn’t consolidate your debts. They will work out payment plans with lower interest rate and fees for your outstanding debts. What you need to do is to make one monthly payment to the counseling agency, which will pay all your creditors. Credit counseling programs usually does not hamper your credit rating and if you stick to the plan, it is possible for you to get rid of debt in 3 to 6 years.


Although many credit counseling organizations are nonprofit and work with you to solve your financial problems. Be caution on the hidden fees, some credit counseling organizations charge high fees which may be hidden that can cause more debt. Hence, before you sign up any of the debt management plan offer to you by the credit counseling agency, review their fee structure and ensure the debt management plan is in line with your financial condition. Try to avoid the service which requires you to pay for an up front fee.


Cash out Refinance


If you have equity such as a home, you could refinance it to cash out money for your loan repayment. Typically you are allowed to refinance up to 75%, (sometimes 80%), of the value of the property on conforming loans. For example, if your home is now valued at $150,000 and your loan balance is $70,000, you might be able to get a new $150,000 x 75% = 112,500 mortgage. That would allow you to repay the existing $70,000 balance and use the $42,500 for your financial needs.


Comparatively, refinancing loan has lower interest compare to other personal loan and it has various repayment period which you can choose the one that meet your repayment capability.


In Summary


Credit counseling agencies have wide expertise in handling debts and they have various options for debtors which one of it may suit your financial situation. Get the service from them will help you to have clear picture on the options available for you in handling your debt issue.


If you have built your equity from the past such as bought a home, and now you have financial crisis, this equity will play an important role to save you from the crisis and pull you out from debt.


See you on part 4 for more debt solutions.

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Debt Solutions – Your 12 Ways Out from Debts (Part 4)

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Dec 122023
 


Being in debt is no fun, especially if you are struggling to make ends meet. Because debt is a complex issue but there may be more than one solution. This article will outlines 12 common methods use by most of debtors to get rid of their debts. Among these 12 debt solutions, there may be one or more options which you can use to solve your financial problem.


6 debt solutions: Self Repayment Plan, Debt Settlement, Debt Consolidation, Debt Consolidation Loan, Credit Counseling and Cash out Refinance had been discussed in the past 3 parts (Part 1, 2 & 3), this part will talk about another 3 common debt solutions.


Retirement Benefits


If you have a 401(k), plan or certain types of pension plans, most employers allow you to borrow against your retirement account. Typical plans allow you to borrow up to half your vested balance, but not more than $50,000. You usually must pay the money back, with interest, over five years. If you don’t repay the loan, you will owe income tax and a 10% early withdrawal penalty. This type of loan offers low interest rates and is much easier to handle. Hence, you can borrow against this retirement account to settle the high interest rate loan.


There are a couple of big drawbacks which you should aware of. First, you are giving up the tax-free compounding of the money you withdraw. That could lead to a significantly smaller amount on retirement day. Also, if you leave your current employer for any reason, you will probably have to pay the loan back immediately or face taxes plus a penalty.



Credit Union


Credit unions generally have lower interest rates and fees on loans. These loans normally offer to member only. If you are not a member, check with your employer, or organizations of which you are a member and find out if you are eligible to join one.


Most loans are 1, 3 or 5 years in duration. From time to time individual credit unions will offer special loan rates so it is beneficial to check in with your local credit union regularly. The type of loans available depends on your credit union.


A credit union loan has some very special features:


    Loans are insured at no direct cost to the eligible member.
    Repayment protection insurance is available as an optional extra.
    No hidden fees or transaction charges.
    Repayments calculated on the reducing balance of the loan. This means smaller interest repayments as you repay your loan.
    Repayment terms to suit your particular circumstances.
    Flexibility -you can repay the loan earlier or make larger repayments than agreed with no penalty.
    Additional lump sum repayments accepted with no penalty


Insurance


You can borrow from the life insurance policy at a very low interest rate in order to solve your debt problems. The most advantageous thing is that, you do not have to repay this loan. Your life insurance benefits will be reduced by the amount you borrow in addition to any accrued interest.


In Summary


Borrow money from your retirement account or credit union are another 2 methods to use lower interest rates loan to pay for high interest rates debts. Whereas, borrowing the money against your insurance mean that you are lowering your protection sum to pay for your debts. Anyhow, these are another 3 methods of debt solutions for your choices.


See you on part 5 for more debt solutions.

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