Debt Consolidation Credit Counseling In Austin Debt Consolidation Credit Counseling In Austin

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Tuesday, December 23, 2008

Fixed Rate Reverse Mortage - Limits Options

By Toome Vanrock

The senior community is still getting its proverbial feet wet when it comes to the reverse mortgage. As such I spend the vast majority of my time educating them on the basic workings of the mortgage.

My discussions with my senior customers always get around to the interest rate and which way to go based upon their individual situations. Fact - The fixed rate works well for very few seniors.

This always makes me smile a bit because when I spring it on the prospective customer, I know they will have a bit of a conniption until I have a chance to fully explain why. Then they reach acceptance.

The biggest problem with the fixed rate, in the reverse mortgage business, is it does not offer the customer a line of credit option. The borrower is forced to immediately draw out that which the customer qualified to receive, or a smaller amount if the borrower so desires.

The senior gets a two for one deal with the adjustable. First: the senior chooses when to use the money; Second: Interest accumulates only against money's drawn out, leaving the remainder as a non factor.

This being so, the one borrower for whom it makes sense to go with a fixed rate reverse mortgage is the the one in need a sizable upfront sum of money.

A good example is someone looking to pay off a mortgage to eliminate the monthly payment. Most fixed rate customers are in this boat, because there main goal is to free up monthly funds. They are not really interested in having a cushion of money at their disposal.

With this in mind it's all personalities. Many will still grab that ARM but the more risk averse borrower will gravitate to the fixed. Keep in mind the fixed rate today is only slightly higher than the fifteen year average for the adjustable.

Best Debt Consolidation Company

By William Blake

Finding the best debt consolidation company for you will require some digging. There are a variety of companies out there with a variety of plans to suit the needs of many people. They vary in the payment schedules and interest rates they offer. Finding the one that suits your needs is possible, but it will require you to do your homework.

What Is a Debt Consolidation Company?

A debt consolidation company is a company that will help you get on your way to being debt free. These kinds of companies do not necessarily give out loans, but they may just give out advice and help people get themselves on the right track to being debt free. They will give you consoling and help you make good choices when it comes to your credit.

How Do They Help?

If you are drowning in debt, debt consolidation companies will act as a life preserver and can save you from continuing to make bad financial decisions and sinking even further. If you have high interest debt they can help get these reduced which is a big step to recovering because you apply less money to interest and more to principle balances. They explain how you can better budget your money so you can make timely payments on your bills and avoid late fees that can accumulate and put you further in debt.

Comparison Shopping

There is a wide variety of help available to you and you can review all your options on line. You can use the internet to research different companies and the plans that they offer and then determine which is best for your personal needs. These companies help you improve and control your spending habits and also teach you how to save money. Some companies work only via the internet and some may have offices near you. It depends on which approach you prefer. The options are practically endless and the choice is yours.

Get Control

Once you have the tools to get your debt under control, you will know how to lower your debt and pay it down and also how to keep it off. Once you have the know how, you will feel more confident and secure with your financial situation now and in the future.

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Traffic Exchanges And How They Work

By John Blanchard

One of the most popular way to drive free international traffic to your website is what we call a traffic exchange program,there are a few different types of traffic exchange on the Internet the most common one is the auto surf traffic exchange,manual surf traffic exchange and finally the pro traffic exchange.

If you are looking to improve your Alexa ranking the auto surf traffic exchange is for you,but the quality of visitors to your website is very poor,it is however very easy to receive thousands of hit to your website without having to put much effort into it.

Manual traffic exchange can give you some quality traffic because the person viewing your website must wait typically 10 to 15 second before moving on to the next website in rotation in the traffic exchange,depending on the product or service you are offering expect fairly good results.

The pro traffic exchange works the same way has the manual traffic exchange except it is not free you must pay usually a monthly fee to be a member,you can expect a satisfactory result from the pro traffic exchange,think about it people actually paid a fee to be a member so this they are more likely to purchase a product or service.

How does the traffic exchange work? you log on and start surfing the exchange viewing other members website you now earn credits for each website you visit,in exchange for your credits other members of the traffic exchange view your website.

Most traffic exchange also allow you to display a banner or text link that gets displayed on what they call the surf bar while people are surfing the traffic exchange.

If you are looking for local or a specific area to promote your website you will only waste your time,they work best for international visitors only,you can't control where your visitors are coming from on the traffic exchange.

There are a very large number of traffic exchange on the Internet you can find them almost anywhere,they have become the norm for promoting internationally.

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Do You Have Too Much Debt?

By Steve Collins

Do troublesome financial troubles make you wonder if you are days away from eviction? Do you dread opening your mailbox, knowing it will be full of past due notices? Do you have nightmares about being unable to satisfy creditors? Do you live from paycheck to paycheck? Consumer credit advising may best be the best way of addressing these severe worries.

Consumer credit advising is for people whose finances have deteriorated beyond their ability to manage them. When you are ready to admit you could use some assistance getting things under control, consumer credit advising is available.

Consumer credit advising starts with an appointment in which you and your adviser will look at your financial records, taking stock of your wages, your expenses and your debts. Together you will decide where you can cut expenses and draw up a monthly budget plan. If your ability to manage your debts alone is in question, consumer credit advising may lead to enrollment in a debt management program or DMP.

Consumer credit advising and DMPs are designed to help you get out of debt. With a DMP, you and your advisor decide on a monthly amount to be turned over to your advising service. Your advisor then acts as a go-between for you and your creditors. The target is to get late payment fees reduced or forgiven, the length of your loans extended and your interest rates reduced. The consumer credit advising service pays your creditors through your monthly payments.

Consumer credit advising can help you manage your finances. Getting out of debt will not happen immediately. Consumer credit advising can teach you how to manage your budget, and help you establish a repayment plan you can live with while fulfilling your obligations to your creditors. If you've hit a financial brick wall, consumer credit advising is an option to consider.

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Ways To Good Credit

By Michael Benifez

Today's credit crisis is resulting in a more difficult road for consumers to getting a loan and obtaining good rates. Lenders are becoming increasingly cautious and are making more declines than ever before. If your credit rating is less than stellar, you can pretty much guarantee you're not going to get the best rate on the loan you're hoping for, that is if you can get the loan at all. If you improve your credit score, you can insure your lending status. There are five basic steps for improving credit.

1: Obtain a copy of your credit report. You can't repair something you don't know is broken. Once you have a copy, you will be able to determine your position and whether or not improvements can be made. You can get a free report from each of the three bureaus once a year from This website is owned by the credit bureaus themselves and designed to provide you with your entitled report once every 12 months. Many sites online have very similar names, so be extremely cautious when you're typing the address.

2: Review your report and remove anything that's outdated. Carefully review your report and keep and eye open for inaccuracies. You have the right to get incorrect data removed from your file. You may also request that any negative data be deleted, but you will be required to provide proof for your request.

3: Make sure credit card balances are low. Substantial outstanding debt will adversely impact your FICO score. Do NOT max out your credit. It will only serve to cause you problems in the long run. Why not check if there are any balance transfer cards available so you won't be forced to max out your existing card. Lenders tend to favor people who carry manageable debt on their cards. Here's a tip: Don't pay off your entire balance each month. Believe it or not, that may hurt your chances with a lender and may also hurt your credit score. Lenders make money by charging you interest your balance; if you're not paying anything in interest each month, you're not an asset to the lender.

4: Build on your credit limit. Lenders will generally assign you a credit limit, meaning you can't charge more than that amount. Earning credibility with lenders will help grow that number. You should also be aware of your 'debt to credit ratio'. Your 'ratio' is determined by the debt you carry on a high limit card. If you have a limit of 15 thousand dollars, you should strive to keep your debt on that card under or around 50%. In other words, you shouldn't carry more than about $7,500 worth of debt on that card. In America today it's a common problem for an individual's debt to credit ratio to be too high.

5: Pay your bills on time and enjoy the benefits of having zero interest on outstanding balance. It may sound simple, but it is imperative to maintaining a good credit rating. A mere few late payments will negatively impact your credit score.

If you're determined and you start right away, it won't take too long before your credit is back and track and you can get back to living worry free.

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Tired Of Being In Debt? Consolidating It Is A Solution

By John Brennan

Business and household debt in the United States is increasing daily. This increasing debt, combined with a falling economy is putting a severe strain on these same businesses and households. With the average American owning 7 or 8 credit cards it is no wonder that debt continues to increase as we spend more and more money that we actually do not have.

More and More Americans will need to become familiar with the words debt consolidation. The unfortunate thing is that chasing ideas beyond ones true capacity is all too common. Borrrowing money on a new credit card to pay off older credit cards only throws you in the hole even deeper. Debt consolidation could be the answer and here are some ways to get more educated on the subject.

What debt consolidation accomplishes is to pay off all credit card and other debt, rolling it all up into a single loan which usually has a significantly lower interest rate and a monthly payment schedule much lower than the combined payments of all the other debts. Through debt consolidation you will witness a reduction in time, expense, and anxiety.

Home Equity loans are the most common way to consolidate your debt. You can use your home as collateral to get a loan. Known as a secured loan, it keeps interest rates lower. This can be the best way to consolidate, but what if you do not own a home. Are there any other ways to consolidate debt?

Yes, there are loans without security or other ways to consolidate, but it gets a bit more difficult. Interest rates will also become higher. Credit card transfers are a possibility but you must pay back the outstanding in a certain time limit.

Life insurance policies and retirement accounts are possible avenues to explore. You may be able to make either a withdrawal of accrued funds or take out a very low interest loan. It is certainly well worth looking into if either of these is available to you. Credit unions can also be a good source of lower interest rate loans. You may have to look around a bit to find one you are eligible for unless you work for a company or belong to an organization which has ties to a credit union. Credit unions can be very helpful in assisting you in managing your money.

There are a number of non-profit organizations whose purpose is to help those in debt reduce their debt or consolidate their debt. These organizations do much of the legwork for you, negotiating with creditors to lower fees and interest rates and helping to find avenues to permanently reduce or eliminate debt. These organizations can usually accomplish debt consolidation much more efficiently and effectively than an individual can.

You certainly don't have to live with debt even though at times you may feel you have no choice. Help is available and debt consolidation can be a very effective tool. You have to play your part by doing what you can not to fall back into debt, admittedly not an easy thing to accomplish. But the only way to become debt free is to work find the tools available and to work at it.

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Bankruptcy Laws Make Opportunity for a Credit Repair Business

By William Blake

Today, people have started to have a debt problem like never before. It is only when they realize that they are a step away from bankruptcy that they then realize the need of repairing their credit ??" often with the help of a credit repair company. The new laws on bankruptcy signed by US President Bush has opened up the floodgates for those dealing in credit repair and so many more people are taking advantage of this boom in credit repair business opportunities.

Get Credit Counseling

Now in order to file for bankruptcy you must first speak with a credit counselor. If after getting credit counseling you are eligible for bankruptcy you can only file Chapter 13 which will still require you to pay back your debt. These laws clearly work to the advantage of credit repair businesses. People have seized this opportunity and are starting their own home based credit repair business to provide the help and counsel needed for debtors to repair their credit.

Though this is a great opportunity there are a lot of legalities to think about. You have to be certified and have a license to be offer professional credit repair services. Also you will need to market your business well in order to ensure its success. So there are a lot of things to think about before you take the big leap into business for yourself.

The best thing to do before embarking on this business venture is to get educated. Go to your local library or bookstore to find books on how to start a successful business or on credit repair and how to go about it. You can read up on all the requirements and get some suggestions on how to go about getting started. With the right information you can be sure to get your business started off right.

Also, online you can find what the requirements are for starting a credit repair business. You might also be able to turn to professionals, maybe a credit counseling agency or credit consultant, that can help you get whatever certification you need. There may be courses you need to take to be certified and the professionals will be able to tell you how to go about that.

When you have the knowledge and the credentials needed for your business you are ready to start advertising your service. You need to be specific in your advertisement as to what service you are providing. Marketing your businesses well will determine its success.

As mentioned, the plethora of credit repair business opportunities has made opening a credit repair home based business very attractive. In fact, such form of business is something that millions of people dream about ??" and many of them can and will succeed at.

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Get Rid Of Debt With The Help Of Debt Counselor

By Michael Benifez

If you've decided that you are tired of constant calls from debt collectors, it's time to do something about your old debts. If you feel that you are buried under your debts and it is impossible to pay your way out of debt, you are not alone. When you find yourself in this situation, you should consult a debt counselor, who is trained to help people like you achieve freedom from their debts. They can help you get your debt under control. They'll also help you plan a budget that you can stick to, and teach you good financial strategies. Their advice can help you keep yourself out of debt once you are finally debt-free, because you'll learn good spending habits in the process of reducing your debt.

Other choices when you find yourself faced with extreme debt are filing for bankruptcy, or trying to find a loan to consolidate your debts. Compared to these choices, debt counseling is an excellent alternative. If you file for bankruptcy, your credit rating will be ruined for several years. In some cases, you may even risk losing your personal property by filing for bankruptcy. This is a serious undertaking, and it should not be taken lightly. Bankruptcy should be your last resort if nothing else works to get you out of debt.

For some people, debt consolidation loans can work for paying off their creditors. However, the debt will still exist under the new loan, and many people do not alter their spending habits, landing right in the same place again increasing the stress caused by debts. Plus, because debt consolidation loans are offered to people considered high-risk, they sometimes require the use of collateral. If you are unable to repay the debt consolidation loan, you will lose this property.

Unlike these two often-used options, professional debt counselors work with you to create a repayment plan you'll be able to follow. They will also help you create a reasonable budget, so that you'll be able to find the money to pay back your creditors. It won't be easy, but with time you will pay off your debts. Then the phone calls will finally stop. Plus, you'll have the tools to keep yourself out of financial difficulties in the future. Many people fall into debt because they do not have a budget that they can stick to. By going through a debt counselor, you will be able to plan a budget that will keep you from overspending.

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Credit Score Rating Scale

By William Blake

It is important to improve or protect your credit scores. To do this you have to have some knowledge of where this number comes from. It is a complex system that is used to determine a persons credit scores. But it is helpful to try to understand it.

How Credit Scores are Composed

Many factors go into to composing your credit score. Credit companies review your entire financial history, looking at what debts you have had and your record of payment. They look at the amount of debt you have. Having a lot of debt will bring your credit scores down. They also look at how much credit history you actually have. If you are just beginning to build your credit you will have a lower score until they have more information to evaluate.

Two More Important Factors for Your Score

Your recent credit applications are another inquiry that companies will look into. If you have too many credit applications made, this will look bad on your report. You should also think about what types of credit and loans you have. You do not want to have a lot of high balances on your credit report. These balances along with high interest rates will go against you and decrease your score.

What Is a Great Score?

Any score that is 700 or above is considered a great score. If you have a score with 700 or above, you will have no problem getting credit at a great interest rate. A score of 650 and below defiantly has room for improvement. A score between 650 and 450 needs to be worked on. You will probably have a harder time getting a loan or any type credit without securing it. This means that any loan that you apply for will need to have some kind of collateral in place to secure it. If you have a score of 450 or below, then you desperately need to get some help with your credit. It is likely that you will not get any type of credit or loan unless you receive some form of counseling to improve your score.

Getting the Help That You Need

Credit counseling is readily available free of charge to any who desire to better their credit scores. They educate you on what you need to do to have a better credit rating and make wise decisions so as to keep your credit rating high. This will be a big help to you in putting yourself in a better financial situation and maintaining it.

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