Debt Management Tips : How to Consolidate Debt
Consolidate debt by contacting a financial institution for loan opportunities or looking at existing credit cards with lower interest rates. Lower monthly debt payments through debt consolidation with insight from a certified public accountant and credit counselor in this free video on debt management.
Expert: Jerrie Guthrey
Bio: Jerrie Guthrey has been a certified public accountant and credit counselor since 1992.
Filmmaker: Jack Guthrey
Duration : 0:3:38
Can you keep your credit card accounts open after using a debt management service?
Just wondering if anyone has used a debt management service and knows if this is possible. I know they set them to automatically close when they are finished, but does anyone know if you can contact the credit card company and ask them to leave it open once it is paid off? The reason I ask is because I know it is better for your credit score to have accounts that are a few years old open, with available credit, rather than closing them when they are paid off.
i work for amex and honey once you go under these pograms they are fighting with us to lower youre apr so we say if we do this we will close youre accounts manually and automatic the management poeple dont close it its up to us and we will close them for you and it will ruin youre credit cause it will say "closed by grabntor" instead of closed by consumer please mark this top
Can having an agreement with a debt management company affect getting a remortgage?
My fixed for five years mortgage ends next year and I will be remortgaging but I now have an agreement in place with a debt management agency and would like to know if this will affect my chances of getting another mortgage. I am also in negative equity but have never missed a mortgage payment.
thats a toughie
so you haven’t missed a payment (yet) on your mortgage, but presumably are struggling to pay other bills. no doubt that will be on your credit record
you have a fixed rate deal that ends next year, but its a great thing you have spotted there may be a problem. I think you should talk to your lender, you should sound out other lenders. the last thing you want to be faced with is a letter from your lender saying either we cannot extend the mortgage or can but its going to be prohibitively expensive.
Cambridge Credit: What is a Debt Management Plan
Learn Now or Pay Later is a weekly personal finance series produced by Cambridge Credit Counseling Corp. The goal of this educational series is to better prepare the public to deal with matters pertaining to credit, debt and money management. This week’s webisode is the second in a three-part edition featuring Christopher Viale, President and CEO, discussing how debt management plans work and the benefits of using such an option.
Duration : 0:1:52
Should I file for bankruptcy or work with a debt management agency?
My husband was out of work for almost a year and I lost my job. We have almost 30k in debt on credit cards. We have never been late with payments but it is starting to get tight. Should we file bankruptcy or contact a debit management agency?
The ability to file bankruptcy is not determined by your debt, but by your ability to repay your debt. Since you say you have enough to make your current payments, you may not even qualify for a Chapter 7(liquidation) bankruptcy.
To determine if you qualify there are two means tests you must pass first. The first is if you earn more than the average for your state, the second is if you have at least $100 a month of disposable income. If you fail either of these you may be forced into a Chapter 13, which is basically a repayment plan. If you do happen to qualify for a Chapter 7 bankruptcy this remains on your credit for 10 years.
Now, if you get on a debt management program they may be able to get you on a budget and work with your creditors. If this is the case you can probably be debt free in about 3-5 years. After that you are debt free and have no lasting marks. If you go this route be sure to go with a reputable organization. You can check out http://www.nfcc.org for a list of organizations that can help
Debt Management Tips : How to File Bankruptcy
Filing for bankruptcy involves choosing between a Chapter 7 or Chapter 13 bankruptcy and should be done with the aid of a lawyer. Consider credit counseling before filing for bankruptcy with tips from a certified public accountant and credit counselor in this free video on debt management.
Expert: Jerrie Guthrey
Bio: Jerrie Guthrey has been a certified public accountant and credit counselor since 1992.
Filmmaker: Jack Guthrey
Duration : 0:4:21
How much will a debt management plan save a month?
I am looking into a debt management plan. We tried a home equity loan but our credit has gone down to far for it. The one that I just applied for said they save on average $125 a month….that won’t cut it. Anyone have been success than that? I don’t need lectures…unfortunate health circumstances put us here. We just want a better life. I would love to hear success stories!
Depending on your total debt amount, you can save upto $300 or more per month.
Here is the source of debt consolidation company named http://ezconsolidation.com for your reference.
How can I get the location where jobs are advertised by Debt Management Office of Nigeria on-line?
My friend informed me that I should check www.DMO.gov.nig advertisement has been placed for empolyment by Nigeria’s Debt Management Office I searched for the advert at that address and the application must be made on-line but I cant find the location can someone please help me out?
I can only help you out with this information , there is a lot of Internet fraud coming out of Nigeria , so don’t send money to them for anything .
Debt Management Plans – DMP’s – an overview
Debt Management Plans in the UK – debt advice from http://www.becomedebtfree.co.uk on pros and cons of DMP’s. Call us on free phone 0800 169 1536 for confidential advice
Duration : 0:4:3
If you’re in a debt management program, what are the effects of employment consideration?
(In detail, when a company does a credit check, does being in a debt management program effect the chances of employment? I have never been late with payments or went through bankruptcy. I signed up to reduce interest rates. Your honest feedback would be appreciated.
It’s actually a good thing because it shows personal responsibility versus non-payment. Credit wise it helps because you make payments on time. What can hurt you is your present credit rating if it is low. But that also depends on whether your company checks that and how it ranks that information. Your focus should be on a good interview highlighting what you bring to the company.
