Debt Solution

Facing a stack of bills you can't handle? Need to consolidate student loans? Take heart, our  Debt Solution section is dedicated to providing information that helps folks get out of debt. Before you pay a consumer credit  counselor Denver for help, you should be sure you've tried all the easy solutions first.  Have you considered a loan from a family member: Did you look at consolidating your debt on a low interest rate credit card or tax deductible home equity loan?  And finally, have you tried to cut your expenses. Why not track your expenses for 30 days and see what you can eliminate. This is probably the quickest avenue to the most practical debt solution.

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Here are some debt solution calculators to help you.

Debt Payoff Goal Calculator

Debt Investment Calculator Schedule

Debt Consolidation Calculator

Accelerated Debt Payoff Calculator

Debt Investment Calculator

Each calculator can help you understand different aspects of a debt solution and consolidation.

Debt Management Tips

Avoid impulse spendingÖif discretionary sit on it for 30 days to make sure itís needed. Keep well below credit limits Ö20% of available line. Cut up unused cards and voluntarily ask creditors to close accounts & provide letter

Look for ways to cut spending on non-essentials (establish priorities: new vs. used, soda/coffee/donut/cigarettes /candy bar, etc). Start putting aside savings (10%) each week or month (save for a rainy day)

Donít carry credit cards with you except when you have planned to make a specific needed purchase. Access your overall lifestyle to see if itís commensurate to your income, and make adjustments if necessary

If paying less than entire monthly credit card payment, always pay more than minimum eg: used 1 time for $500 debt @15% int, paying min pmt (2%), = 6-1/2 yrs, $800

Keep larger receipts and monitor

Set up monthly budget and stick to it (allow reserves for emergencies). Review budget periodically to account for inflation or new expenses

Never take cash advances to pay off other credit card bills. Thoroughly read and understand all terms and conditions before accepting any new credit

Bring delinquent accounts to current status asap. Pay off accounts that are public records (tax liens and judgments), charge-offs and collections asap. Negotiate settlements where possible

Buy only what you can afford to pay w/cash or pay full credit card bill (Stick to budget). Regularly review credit report (all 3 major-Experian, Equifax , TRW) and dispute any errors

If continually late on payments call creditors to change payment due date to a more convenient time to avoid late fees and penalties. Cut up and cancel unused credit and store cards





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