A chance to start over. The anxiety of dealing with debt everyday crushes people’s spirits. Choosing the debt-relief option that gives you a way out of debt is a life-changing experience. Nothing feels better than second chance, an opportunity to right the wrongs and prove you’ve learned from experience. Bankruptcy, despite its reputation, will do that. A successful Chapter 7 or Chapter 13 bankruptcy breathes life back into consumers. It brings hope that the lessons you’ve learned about finances can take the stress out of your life.
At American Consumer Credit Counseling (ACCC), we offer debt elimination plans and a variety of debt relief programs to help you get out of debt sooner and live a debt-free future. We offer free credit counseling and very affordable debt elimination services – as a non-profit organization, we are able to keep our fees very low. If you're struggling with debt and are ready to begin the journey to becoming debt-free, contact us today for a free, no-obligation consultation.

Transferring your debt to one credit card, known as a credit card balance transfer, could help you save money on interest, and you’ll have to keep track of only one monthly payment. You’ll need a card with a limit high enough to accommodate your balances and an annual percentage rate (APR) low enough and for a sufficient time period to make consolidation worthwhile.
Cost of tax preparation services? This is the only tax relief company that offers free tax preparation services for individuals who are over the age of 50. The company offers membership packages where the prices range from $12 to $63 per year. As a member, you get discounts and coupons for car insurance, rental cars, cruises, movies, hotels, restaurants, Dunkin Donuts and you'll have access to getting a discount on many different services making this small fee well worth the price.

Problems with mortgage debt don’t just affect your credit and finances, they can have a very real impact on your life, too. Foreclosure could mean that you’re forced to uproot your family and scramble to find housing. The good news is that there are plenty of paths available to homeowners who are struggling to keep up with their payments. You have two paths you can take. The first path is to prevent foreclosure entirely. The second path is to make a quick and graceful exit when you can’t avoid foreclosure.

If you are a careful money manager who fell into debt because of unusual circumstances (medical or veterinary  bill, loss of employment or some other emergency) and NOT because you spent more on your credit cards than you could afford to pay off each month, then leave the accounts open. Doing so will help your credit score, because the amount of revolving debt you have is a significant factor in your credit score. Just be sure to put the cards away. Don’t use them while you pay down your debt consolidation loan.


Each state has its own set of rules regarding outstanding debts. Some states don't allow a debt collector to collect a certain type of debt after a certain period of time; others limit the amount of time when a creditor can sue you over an old debt. Either way, you should find out whether the statute of limitations has passed regarding an old debt you may owe. If it has passed, you can likely forgo repayment without worrying about financial, legal or credit consequences plaguing you.

This approach focuses on your debts like credit card and student loan debts with the highest rate of interest. The goal is to pay off the highest interest rate debt as quickly as possible, because it’s costing you the most. While it may not feel like you’re making progress, this method will help you eliminate your costliest debts first—which can save you money in the long run. 

Taking advantage of side hustles was another strategy we used to eliminate our debt so quickly. I worked multiple side hustles the whole time we were paying off our debt. For example, I delivered pizzas, sold stuff and I also did some freelance writing. There are hundreds of side hustles that you can do that will help you bring in extra cash to get that debt paid off fast.

Two: Pay off your lowest balance: Need a mental win? Work on the card with the lowest balance to give you the psychological boost of accomplishing debt repayment. You’ll feel good seeing results quickly and be motivated to tackle the next credit card. If you have two debts with similar balances, then pay off the debt with the higher interest rate first.
You can contact NDR directly via telephone (1-888-919-1355) or you can apply online. As with most sites, their application process requires you to enter your information. Once contacted, you'll discuss your financial situation with one of NDR's certified debt counselors, who will walk you through a free debt analysis to determine the right course of credit card consolidation for you.

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With government debt consolidation programs, you’ll consolidate multiple loans into a single new loan, with a new interest rate and payment terms. With just one check to write each month, you’ll find it easier to keep track of your loan payments. Additionally, a government debt consolidation plan can lower your monthly student loan payments by increasing the amount of time you have to pay back the loan and giving you access to other repayment options. If your original student loans have variable interest rates, government debt consolidation programs can convert your debt to a fixed interest rate, providing more predictability and possibly a lower monthly payment.
DMCC provides free education at its online site DMCC University. You can learn everything from creating a balanced budget, understanding and improving your credit, purchasing a home or developing a plan for a successful financial future. You can read from an extensive library of financial articles, watch educational videos, take an educational course online, sign up for our newsletter or use our educational tools and trusted resources to improve your financial health. We also provide free educational seminars for the state of Florida and New York. DMCC University is committed to equip you with the most complete education regarding all areas of your personal finances.  To learn more about what DMCC University offers and how you and your community will benefit, click HERE.
American Consumer Credit Counseling is a non-profit credit counseling and debt relief company dedicated to helping consumers with solutions for paying off credit card debt and eliminating debt for good. We offer free credit counseling and low-cost debt management services that can help pay off unsecured credit card debt quickly – usually within five years or less. After reviewing a client’s financial situation, our counselors discuss all the possibilities for finding unsecured debt relief. We can offer debt consolidation advice, explain how debt negotiation works, or discuss the pros and cons of debt settlement solutions vs. credit card consolidation offers. We can also enroll consumers in a low-cost debt management plan, one of the most effective methods for anyone who wants to know how to pay off credit cards fast. And we can provide the pre-bankruptcy credit counseling certification and post-bankruptcy debtor education required by the courts in bankruptcy cases.
Many people find it hard to negotiate with their creditors. A debt relief program has expert, experienced negotiators that know how to deal with creditors. They take the hassle and heartache out of a fraught situation. Additionally, because debt relief companies deal with a lot of debt in different accounts, they have more leverage and can bulk their deals to get better settlements.
Not all lines of credit are alike. The borrower's creditworthiness and relationship with the lender affect the terms of the lending agreement, as does bank competition, prevailing market conditions and the size of the line in question. Some lenders apply fixed amortization rates to outstanding balances on a line of credit, while some permit interest-only payments for a time, followed by a lump-sum payment of the principal. If the lender has the right to demand repayment at any time, this is called demand credit.
You’re so excited to take advantage of your 15% off exclusive cardmember “benefit,” and you rush to the store or website. You get there, and . . . they’re having a sale! At this point, they’re practically paying you to shop! (Listen, I’m a spender at heart, so I know how to spin this.) So you wind up going on a $150 shopping spree—which is $50 over your budget.
Capital One is encouraging customers who may be impacted to reach out to find a solution, which potentially entails fee suppression, minimum payment assistance and deferred loan payments (depending on the customer’s needs). However, Capital One is strongly pushing its customers to use its digital tools and other resources for self-service banking and 24/7 account access. According to Rossman, Capital One is allowing customers to skip one monthly payment without interest. 
A reputable credit counseling agency should send you free information about its services before you say anything about your situation. You can check out agencies you’re considering with your state attorney general and local consumer protection agency. They can tell you if they have any complaints about them. Even if there are no complaints, it’s not a guarantee that they’re legitimate. Also ask your state attorney general if a company is required to be licensed to work in your state and, if so, whether the companies you might do business with are.
Mortgage Programs All your home buying needs in one place. DMCC provides individual mortgage readiness counseling, credit report review, assistance in preparing and submitting your loan application, and access to a loan shopping tool. We help during the home search, making an offer and closing process. We have access to affordable and flexible home loans, and special government financing resources that boost buying power and offer affordable payments. Foreclosure Prevention and Loan Modifications  As a HUD Approved Housing Counseling Agency, DMCC will help you identify the best solution to avoid foreclosure while meeting your personal goals; PLUS, if you are a Florida homeowner, we will prepare your loan modification documents for free. Home Buying Education Learn about the ins and outs of buying a home and, if you are a South Florida resident, obtain the education required for many financial assistance programs. Reverse Mortgage Counseling If you are 62 or older, learn about the loan that pays you and get the required counseling certificate.
Two: Pay off your lowest balance: Need a mental win? Work on the card with the lowest balance to give you the psychological boost of accomplishing debt repayment. You’ll feel good seeing results quickly and be motivated to tackle the next credit card. If you have two debts with similar balances, then pay off the debt with the higher interest rate first.
*Our estimates are based on prior results, which will vary depending on your specific enrolled creditors and your individual program terms. Not all clients are able to complete their program for various reasons, including their ability to save sufficient funds. We do not guarantee that your debts will be resolved for a specific amount or percentage or within a specific period of time. We do not assume your debts, make monthly payments to creditors or provide tax, bankruptcy, accounting or legal advice or credit repair services. Our service is not available in all states, including New Jersey, and our fees may vary from state to state. Please contact a tax professional to discuss potential tax consequences of less than full balance debt resolution. Read and understand all program materials prior to enrollment. The use of debt settlement services will likely adversely affect your creditworthiness, may result in you being subject to collections or being sued by creditors or collectors and may increase the outstanding balances of your enrolled accounts due to the accrual of fees and interest. However, negotiated settlements we obtain on your behalf resolve the entire account, including all accrued fees and interest. C.P.D. Reg. No. T.S.12-03825.

Warning: Debt settlement may well leave you deeper in debt than you were when you started. Most debt settlement companies will ask you to stop paying your debts in order to get creditors to negotiate and to collect the funds required for a settlement. This can have a negative effect on your credit score and may result in the creditor or debt collector filing a lawsuit while you are collecting settlement funds. And if you stop making payments on a credit card, late fees and interest will be added to the debt each month. If you exceed your credit limit, additional fees and charges may apply. This can cause your original debt to increase.
Credit card debt is highly influential in determining a borrower’s credit score since it will typically account for a significant portion of credit utilization on a borrower’s credit profile. Credit bureaus track each individual credit account by itemized trade lines on a credit report. The aggregation of outstanding credit card debt from these trade lines is the borrower’s total credit card debt, which is used by credit bureaus to calculate their credit utilization ratio, an essential component of a borrower’s credit score.
Homeownership is possibly the highest achievement for an individual or family in your lifetime. Whether you are in the process of purchasing your first home, are a recent buyer or longtime owner, the responsibilities are enormous. ACCC’s housing counselors are available to assist you in all aspects of your housing needs. We provide reverse mortgage, pre-purchase, post purchase and foreclosure counseling. Being a homeowner comes with much responsibility. We are certified by the US Department of Housing and Urban Development (HUD) and are committed to providing communities with housing counseling assistance as well as providing housing resources and education.
While debt settlement isn’t for everyone, National Debt Relief’s program is a great choice for people with high levels of debt who are struggling due to financial hardship such as the loss of a job or a divorce. If you’re barely keeping up with your minimum payments and balances on your accounts keep growing, then you’re a good candidate for debt settlement. In fact, if your income doesn’t accommodate paying down debts, and your credit rating makes it impossible to obtain a debt consolidation loan, then the National Debt Relief program may be your best chance to address your debts and avoid bankruptcy.
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Two: Pay off your lowest balance: Need a mental win? Work on the card with the lowest balance to give you the psychological boost of accomplishing debt repayment. You’ll feel good seeing results quickly and be motivated to tackle the next credit card. If you have two debts with similar balances, then pay off the debt with the higher interest rate first.
Not all types of debt affect your finances equally. To figure out what’s making the biggest impact on your budget, collect recent statements from all of your creditors. Write down the creditor, amount owed, monthly payment, and interest rate on your accounts. (Use this worksheet to refer back to later.) Knowing which debts have the highest minimum monthly payments and interest rates will help you determine which debt is costing you the most.
Central banks, such as the U.S. Federal Reserve System, play a key role in the debt markets. Debt is normally denominated in a particular currency, and so changes in the valuation of that currency can change the effective size of the debt. This can happen due to inflation or deflation, so it can happen even though the borrower and the lender are using the same currency.
There are only two ways (three, if you combine the two): either earn more or spend less. If a person has a debt, then it must be paid. If payments are not made, interest is accrued and in the end, all the person's assets will be repossessed until the debt is satisfied. The first step is to obtain a source of income; beyond this, you can work with your creditor to make payments toward the debt - even if you can only afford $50 per month, it shows that you're making an effort to pay down the debt.
Our program may affect your credit initially, but many of our clients find that by the time they graduate, their credit scores have returned to the same rate if not higher as when they started. Keep in mind that the purpose of National Debt Relief's program is to help you to address out-of-control debt and become financially independent, which ultimately should help improve your credit. If you're already behind on your bills, your credit score is probably already being affected, in which case the effects of our program may not be as severe.

Whether it’s consumer debt on credit cards, student loans[1], or a mortgage, most people find themselves weighed down by debt at some point in their lives. This can keep us working jobs we hate just to pay the bills and keep our heads above water. By learning how to pay off debt fast, you can release this burden and remove some of the stress from your life.
But sometimes, disaster strikes and people are forced to confront their circumstances head-on. A series of unfortunate events — a sudden job loss, an unexpected (and expensive) home repair, or a serious illness — can knock one’s finances so off track they can barely keep up with their monthly payments. And it’s in these moments of disaster when we finally realize how precarious our financial situations are.
The second type of debt consolidation you may hear about are debt management plans offered by debt settlement companies. With these programs, the debt settlement company may be able to secure lower monthly payments with your creditors by negotiating a reduced balance on your accounts. You then make one "consolidated" payment to the debt settlement company each month, and in turn the company makes payments to each of your creditors on your behalf.

I do all of these and a lot more. For instance, I don’t turn on my heat except when I have no choice. Helps that I live in a townhouse between two others. I wear extra layers and spend more time upstairs rather than down. I wash/dry clothes once a week. I even wear all light or all dark colors to cut down on loads. I only go out to eat maybe once a month or not at all. If I do I choose less expensive items or go ala carte and always water. I don’t do any unnecessary driving. I’ve carried the same Coach leather purse, a Christmas gift, for the last 10 years.

While participating in the National Debt Relief program, you may face an initial impact on your credit score. However, many of our clients find that by the time they graduate, their score has returned to the same rate if not higher than when they started. The important thing to focus on is that by participating in our program, you'll be actively getting rid of your debt. Furthermore, by the time you graduate, you should be able to get your credit rating to a higher level than it was before the debt settlement process, providing you don't let your debt levels creep back up, and you practice good personal finance habits.


If you know your current credit cards' APRs, it should be simple to identify a new credit card that offers both (1) a lower APR and (2) an ability to transfer existing balances. If you can earn approval for a new credit card that meets both conditions, you will want to ask the card issuer about any fees associated with a balance transfer: sometimes fees are based on the number of balances you transfer while other fees may be based on the dollar amount of the balances that you transfer. Understand what your particular balance transfer strategy will cost you before you commit to consolidating your debt through a balance transfer.
However, let’s say you have two credit cards that each have a $1,000 balance. If you put $500 to those, you could finish paying each off in three months (with interest charges).  This would clear out two bills, giving you extra motivation and extra cash. Now, instead of $500, you’d have $550 because you don’t have to pay two $25 minimum payment charges.
How We Calculate Rewards: ValuePenguin calculates the value of rewards by estimating the dollar value of any points, miles or bonuses earned using the card less any associated annual fees. These estimates here are ValuePenguin's alone, not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.
A third option to consider to lower your interest rate and pay off credit card debt is a balance transfer. This can be especially helpful if you can find a credit card with a 0% APR on balance transfers specifically. Just make sure you pay off the balance before the introductory period ends when the 0% APR will expire. Rates after this period can increase dramatically.

Are you looking to consolidate your credit card debt payments without taking out a new loan? Our debt management program is not a new loan, but it can help you get out of debt. And did you know that you can qualify for our debt management program with bad credit? We work with your creditors to get you debt relief now, in the form of lower interest rates, waived credit card fees and lower credit card monthly payments. With more of your monthly payment going toward debt balance, you can dramatically lessen the time it takes to become debt free. Find out if you qualify for our debt management program.


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With charge-offs (debts written-off by banks) increasing, banks established debt settlement departments whose staff were authorized to negotiate with defaulted cardholders to reduce the outstanding balances in the hope of recover funds that would otherwise be lost if the cardholder filed for Chapter 7 bankruptcy. Typical settlements ranged between 25% and 65% of the outstanding balance.[2]
DMCC has implemented plans to protect our employees and ensure that services to our clients are not interrupted during the existing coronavirus pandemic. All critical DMCC systems and client data reside in the cloud allowing our employees to work remotely from their homes for as long as needed. Our office will remain open with a limited number of staff in order to process mail, but all client appointments and meetings have been suspended until further notice. Clients and consumers needing help can continue to contact us by telephone and account messaging. Debt management plan payments and disbursements will continue to be processed as scheduled.
Cost of tax preparation services? This is the only tax relief company that offers free tax preparation services for individuals who are over the age of 50. The company offers membership packages where the prices range from $12 to $63 per year. As a member, you get discounts and coupons for car insurance, rental cars, cruises, movies, hotels, restaurants, Dunkin Donuts and you'll have access to getting a discount on many different services making this small fee well worth the price.
The reasoning for debt consolidation is simple: The more debts you have, the more difficult it may be to stay on top of your finances. With so many bills to track, it’s easy for something to fall through the cracks — and, thus, hurt your credit score. Consolidating debt helps you keep track of what you owe while granting the potential for lower interest rates than what you currently pay.
From there, you'll get a list of offers from Credible's partner lenders. At the time of this review, there were more than a dozen companies offering credit card consolidation loans through this site - including many of the lenders you'll find in our other reviews. You can get an idea of each lender's terms and rates without entering any of your personal information; just scroll down on the Credit Card Consolidation page on the Credible site. Of course, those are only approximations of what could be available; you'll have to click the "Check Rate" button (which will take you right back to the application process we described already).
Overview: Best Egg offers unsecured personal loans for a variety of purposes, including debt consolidation. The best rates and terms go to borrowers who earn $100,000 or more and have a credit score of at least 700, which is “good” on the FICO scale. Some borrowers can qualify to borrow up to $50,000, although most loans range from $2,000 to $35,000.
You could be sitting on an often–overlooked source of cash. Literally. Go through your belongings and sell unwanted items on online auction sites, community boards, or even social media marketplaces. Consign designer clothing and handbags to help recoup some of your past credit card spending; in some cases, these high–priced items hold their value well. Additionally, some stores will offer store credit on used items like textbooks, CDs, DVDs, video game consoles, or smartphones, which you can put toward the cost of new items.
Debt relief is an opportunity to put your credit card debt behind you without paying the full amount owed. Our debt experts negotiate with your creditors to get them to agree to settle for less than the full amount you owe, so you can resolve your debt for less and in less time than other debt solutions. Check out a Freedom Debt Relief review from our partners at Bills.com for more information.
While you're participating in a debt relief program, you may decide to do things such as halt payments to lenders while the debt relief company negotiates on your behalf. In doing so, you can expect your credit rating to decline during the initial part of the debt relief process. You should view this decline as a temporary condition to be addressed as you move toward being free from debt. As your debts are paid off, your credit score should begin to rise. In fact, many of our clients find that their credit score has returned to the same rate if not higher, by the time they graduate. Once you graduate, you can also take additional steps to build your credit rating back up, such as paying bills on time, keeping your level of outstanding debt low, and using your credit cards and paying off the balances each month.
Debt settlement companies charge either a percentage of the debt that is forgiven or a percentage of the monthly payment each month. That could mean you're paying thousands of dollars to the settlement company that could have gone to pay down your debt faster. For example, if you owe $40,000 you may have to pay the settlement company from $5,200 to $8,000 in the first 12 to 15 months. Or if the debt is settled for a total of payment of $25,000 the debt settlement company will charge up to 35 percent of the settled amount or more than $8,000. The settlement company gets paid first before any monies go to the creditors.
The increasing size of the non-housing personal debt market and ease with which one can obtain personal credit has led to some consumers falling behind on payments. As of Q3 2017, student loans have the highest rates of serious delinquency (90 or more days delinquent) with approximately 9.6% of all student loan debt falling into this bucket. Credit card debt and auto loan debt have serious delinquency rates of 4.6% and 2.4% respectively.[10]
Generally, credit card debt refers to the accumulated outstanding balances that many borrowers carry over from month to month. Credit card debt can be useful for borrowers seeking to make purchases with deferred payment over time. This type of debt does carry some of the industry’s highest interest rates. However, credit card borrowers do have the option to pay off their balances each month to save on interest over the long term.
Credit Counseling is a free service offered by InCharge Debt Solutions. During the counseling session, you’ll provide information about your personal finances, including income and expenses. We’ll pull your credit report to see how much debt you have (this gives us accurate, up-to-date balances and is a “soft pull” which will not affect your credit score). We’ll diagnose your situation and provide you with a range of debt relief options. One debt relief solution may be a debt management plan; another may be bankruptcy. Call (800) 565-8953 to speak with a certified credit counselor or Start online credit counseling.
Coming up with a plan for paying off debt may sound difficult, especially if you don’t have a financial background. But spreadsheets simplify the task, making it easy for anyone who can use a spreadsheet to make a plan to pay off debt. The snowball method is a popular strategy, and downloading one of these debt snowball spreadsheets can help you reduce your debt.
And if you want to go even further, check out the 14-day free trial of Financial Peace University. Did you know that the average family who completes Financial Peace University pays off $5,300 in debt and saves $2,700 within the first 90 days? Nearly 6 million people have used Financial Peace University to budget, save money, and get out of debt once and for all. Now it’s your turn.
Common types of loans that many people need to repay include auto loans, mortgages, education loans, and credit card charges. Businesses also enter into debt agreements which can also include auto loans, mortgages, and lines of credit along with bond issuances and other types of structured corporate debt. Failure to keep up with any debt repayments can lead to a trail of credit issues including forced bankruptcy, increased charges from late payments, and negative changes to a credit rating.
Finding the right company to work with can feel overwhelming. Therefore, it is important that the right amount of time and research be given to allow yourself the opportunity to work with a company who will recognize the wisdom behind making such a financial decision while offering professional courtesy and encouragement. Fortunately, there are multiple reputable companies that provide these services.
You can settle the debts yourself or hire a debt settlement company. These companies negotiate with each creditor to reduce the amount owed. The settlement company will likely tell you not to pay your creditors but put that money in a trust account. When the funds reach the total needed to settle the debts, the creditors are paid. Until that happens, interest and late fees build up. While the debt settlement company may have attorneys on staff, they work for the company, not for you.
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