Thursday, November 13, 2008

Those debt problems

This is a site that a lot of people will be able to make good use of in these difficult times. There's an awful lot of us who need help with debts and how to cut them, after all.

There's a lot of good information on how to get out of debt here. Things like how to get credit counselling and so on.

There's also an excellent section here on credit card consolidation. The essential point of that is that you cut the monthly payments you need to make by bundling up your debts and getting a lower interest rate on them.

If that doesn't work then there are a number of innovative ways that you can take advantage of personal bankruptcy. Not something to be done lightly, to be sure, but it can be a way out, to minimise problems.

And of course, for companies there is also always chapter 7 bankruptcy, but that's something more complex and difficult to go through.

But an nice little site with some excellent information you might find useful.

1 comment:

nancy said...

Everyone want to come out from his / her debts but to come out in a scientific way it is not possible everytime. So, i think debt consolidation is the best way to come out from the debt problems. It will help us to deal with the creditors, decrease the household budget, how to get maximum discounts from the creditors etc.
Thanks for sharing this post.