Posts Tagged ‘debt management’

The Truth About Bankruptcy

In this post over at Frugal Dad, guest blogger Neal Frankle asked this question: “Is it wrong to ask to have your debts forgiven?” In his post he mentions actor Stephen Baldwin, a born-again Christian whose income has dried up  as a result of his own choices to refuse roles based on his new-found faith, and who now is in bankruptcy.

The number one reason for bankruptcy is medical bills. The number is over 60%. Among those, more than three quarters have medical insurance. As for the rest, all report some sort of misfortune, most commonly a job loss or other decline in income. Only 9% of bankruptcy filers reported no misfortune.


I Can’t Pay My Credit Card Bills! What To Do When Money Is Tight


With the economy as bad as it is and with so many people out of work or whose hours and salaries have been cut, families all across America are finding it harder and harder to manage their bills.

This article is not going to contain any platitudes about how you can get money to pay your credit card bills by offering to mow your neighbor’s lawns or any other such nonsense. This article will tell you the best way to manage your finances so that you and your family’s primary needs are covered during these hard times.


Smart Financial Planning: How To Set A Personal Budget


Learning how to budget properly is a must-have skill in life yet most people never receive any instruction in it.

The first thing you must do before you start a budget is to figure out how you are spending your money. Keep a diary for a three month period of everything you spend, down to the last dime. If you spend 1.50 a day on coffee, note that down. Every time you pay a bill, notate that. Once you have three months of spending activity documented, then sit down and sort your expenses.


When To Opt For Debt Management Credit Counseling?

Debt management credit counseling is a useful tool to help you to get back on your feet if you find yourself choked with a lot credit card and other types of unsecured debt.  Debt management credit counseling services are most useful to people who have the means to pay off most of their debts but for one reason or another have found themselves behind in payments or just making the minimum payment and getting nowhere near being able to pay off their credit cards. This service is not for people who are unemployed or who have so little income that they can barely cover the necessities let alone make payments to creditors.


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