2013년 11월 30일 토요일

About 'debt creditor'|Can Unsecured Creditors Garnish Wages To Recover A Debt







About 'debt creditor'|Can Unsecured Creditors Garnish Wages To Recover A Debt








You               know               it               wasn't               too               long               ago               that               I               was               in               debt               up               to               my               ears               and               living               paycheck               to               paycheck.

All               I               could               think               about               was               my               family               and               how               much               I               wished               they               could               have               more.

Suffering               from               a               building               debt               in               our               current               economy               is               definitely               not               unheard               of.

In               fact,               almost               half               of               all               Americans               are               in               severe               debt               living               paycheck               to               paycheck.

You               may               have               asked               yourself               at               least               once,               "what               do               I               need               to               do               to               get               out               of               debt               and               back               on               my               feet."               Well               your               in               luck               and               I               may               be               able               to               help.

You               must               remember               before               you               go               in               and               immediately               start               reducing               your               debt               that               this               is               not               overnight               and               may               take               several               months               to               a               couple               years               to               get               you               debt               free               so               have               patience.

I               am               not               going               to               tell               you               anything               that               is               not               already               being               done               by               debt               consolidation               agencies               that               charge               you               money               you               don't               have               in               order               to               reduce               your               debt.
               The               first               thing               you               want               to               do               is               sit               down               with               a               pad               of               paper               and               a               pen               and               start               writing               down               everybody               and/or               agency               you               owe               money               to               and               the               interest               rates               you               are               being               charged.

Don't               forget               to               have               your               most               recent               statements               in               front               of               you               as               well               to               better               gather               this               information.

Once               you               have               gathered               the               necessary               information               it               will               be               time               to               call               all               your               creditors               and               see               if               you               can               get               the               annual               interest               rates               lowered.

Some               creditors               will               lower               them               some               will               not.

NOTE:               no               matter               how               annoying               the               creditors               may               be               it               is               very               important               to               be               polite               and               considerate.
               Next,               you               will               want               to               start               balloon               payments               of               your               own               starting               with               the               debt               with               the               highest               interest               rate               first               while               paying               the               minimum               payments               on               all               other               debt.

This               is               the               most               important               step               of               all               as               this               is               what               will               get               your               debt               paid               quicker.

Have               you               ever               seen               how               much               you               end               up               paying               a               creditor               when               the               interest               rates               are               high?

Let               me               show               you               what               I               mean.

If               you               have               a               credit               card               that               has               a               balance               of               $3000               and               you               have               a               19%               annual               percentage               rate               (APR)               you               will               pay               in               one               year               to               that               creditor               approximately               $570               of               your               own               money.

Think               about               it               to,               if               your               paying               the               minimum               payment               that               never               seems               to               drop               the               balance               you               are               paying               this               $570               every               year.

In               5               years               this               one               debt               has               cost               you               $2850               of               your               hard               earned               money.
               This               balloon               payment               method               with               save               you               thousands               in               the               long               run               and               get               your               life               back               on               track.

Take               your               debts               and               line               them               up               with               your               highest               interest               rates               at               the               top               (no               matter               what               the               debt               is)               and               start               paying               $10               to               $20               extra               a               month               on               top               of               the               minimum               payment               and               watch               the               debt               start               to               go               away.

Once               that               debt               is               paid               off,               CLOSE               THE               ACCOUNT.

You               will               then               take               the               payment               you               were               making               to               that               creditor               and               apply               it               to               the               minimum               payment               on               the               next               higher               interest               rate               debt.

For               example,               let's               say               you               were               paying               off               the               $3000               debt               above               and               originally               the               minimum               payment               was               $46.

Let's               say               you               were               able               to               afford               an               additional               $20               per               month               on               this               debt.

Now               you               are               paying               $66               a               month.

You               will               pay               off               this               debt               approximately               2               years               faster               than               what               you               would               have.

Once               you               have               paid               this               debt               off               you               will               tack               the               $66               you               were               paying               onto               your               next               debt               minimum               payment.

So               let's               say               your               next               debt               minimum               payment               was               $10.

You               will               now               be               paying               $76               towards               this               debt               a               month.

Once               you               pay               off               two               of               you               debts               using               the               balloon               method               your               remaining               debt               will               dwindle               quickly.

So               as               I               said               previously,               in               the               beginning               you               MUST               have               patience.
               Something               else               that               helps               out               a               lot               is               the               end               of               year               tax               return               if               you               are               lucky               enough               to               receive               one.

Take               50%               to               60%               of               the               return               you               receive               and               apply               it               to               the               debt               you               are               currently               trying               to               pay               off.

Don't               split               it               among               all               your               debts               as               this               will               only               dent               the               balances               and               not               do               you               any               good               as               the               interest               will               still               tack               on               to               the               remaining               balance.

With               the               remaining               40%               to               50%               of               the               return               go               and               buy               something               or               do               something               for               yourself               or               your               family               as               an               incentive               for               your               patience               and               hard               work               at               lowering               your.

You               should               take               about               10%,               at               least,               and               put               it               into               a               savings               account               that               accrues               interest               as               this               will               pay               off               in               the               end.
               This               is               not               just               another               article               on               being               debt               free,               this               is               real               and               works               very               well.

I               was               $33,000               in               debt               with               $2200               in               monthly               payments               just               5               years               ago               and               I               only               have               approximately               $3000               debt               today               with               $100               in               monthly               payments.

I               challenge               you               to               be               debt               free               and               live               with               no               money               worries.

Take               your               significant               other               out               on               a               date               or               your               kids               to               Disney               World.

The               sky               is               the               limit               when               your               not               living               paycheck               to               paycheck.






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