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you
will be connecting to our affiliated sites
within the
SayPlanning / SayLending network
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Use
this option if you have minimal credit card
debt that can be paid off in 6-18 months |
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this may be an ideal option if your
total credit
card debt is minimal
and if you can budget enough disposal
income to payoff your credit cards within
6-18 months.
This option will give you the best credit
rating protection.
open
calc window and list each credit card
that has a debt balance. Insert the
balance amount with its respective interest
rate (APR). Hit "Calculate"
to total your numbers.
Note the card that is charging the highest
interest rate this is the credit
card balance that you will pay off first.
- open
calc window to schedule an allocated
amount each month that can pay down
your selected high interest-rate credit
card.
Include in your budget plan the amount
you will need to make minimum payments
on all other cards.
We have a section on budget and spending
plans
as you pay down your credit card, review
our section on lowering your monthly
bills in housing, transporation, living,
recreation, and more.
Click
to view "lowering your bills"
Your monthly cost savings can be used
to pay down your credit card faster.
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once you pay down your high interest-rate
credit card, find the next highest interest-rate
card and schedule a new repayment plan.
Repeat these steps for each card
paying down the highest interest-rate
card first, and on down to the lowest
interest-rate card.
- be
sure to review Step 5 on credit
card management techniques you
want to avoid getting yourself back
in debt with your credit cards.
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Use
this option to if you can payoff your credit
card debt with 12-36 months |
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this may be an ideal option if you have
significant
credit card debt that can
be paid off within a short period (12-36
months) and if you maintain a good-to-better
credit rating
for information about your credit rating:
visit
our affiliated site at SayPlanning.com
if you have a good credit rating, card
issuers will solicit you with attractive
credit card consolidation (transfer balance)
programs.
You may also contact your current credit
card issuer about transferring and consolidating
other credit card debt.
Inform them that you are shopping to consolidate
all or part of your credit card debt under
one card if your credit rating
is good, they will want to keep you as
a customer.
Find the transfer program that offers
a super low interest rate at transfer
terms of 6 or more months. Anything less
than 6 months is not worth the trouble.
Also avoid programs that charge a transfer
fee. The fee will wipe away your low-interest
savings.
Link
to our credit card listing for debt transfer
programs
Make sure you read the fine print.
open
calc window and list each credit card
that has a debt balance. Insert the balance
amount with its respective interest rate
(APR). Hit "Calculate" to total
your numbers.
- :
take the transfer program that offers
the best terms lowest rate, longest
term, and zero transfer fees. Use the
program's transfer checks to payoff those
credit cards listed
in calc window that have the highest interest
rate charges.
If your total credit card debt exceeds
the transfer program's credit limit, you
may need to use a second or third balance
transfer program.
- :
open
calc window to schedule a payoff amount
that significantly reduces your consolidated
amount during the transfer period.
since most transfer programs offer card
consolidation terms of 6-12 or more months
significantly lesser time than
what you may need to payoff your card
debt you may need to play the transfer
game when one program ends and another
begins.
Keep note of other transfer balance offers
that come in the mail hold on to
those offers that carry attractive terms.
Be careful not to jump to another transfer
program within short periods. Every time
you sign up for a transfer program, an
inquiry is made to your credit report.
You want to limit credit inquiries to
"one" inquiry every "six
or more" months.
See our discussion on maintaining a good
credit rating at our parent site SayPlanning.com
if your budgeted monthly payment does
not payoff your credit card debt with
12-24 months, you may need to consider
a debt consolidation program under Option
3 below.
as you pay down your credit card, review
our section on lowering your monthly bills
in housing, transporation, living, recreation,
and more. Your monthly cost savings can
be used to pay down your credit card debt
faster.
Click
to view "lowering your bills"
tuck the credit card that has your transfer
balance away. Do not use the credit card
for any credit card purchases. You want
to avoid interest being charged on everyday
purchases. Use a different credit card
for purchases so that you can take avantage
of the 25-day grace period.
Be
sure to review Step 5 on credit card
management techniques you want
to avoid getting yourself back in debt.
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Use
this option if you have significant credit
card debt that will take more than 3 years
to payoff |
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this may be an ideal option if your total
credit card
debt is significant and
if you need a consolidation program with
payoff terms of 3 years or more.
This option is ideal for those who need
to consolidate credit card debt with other
loan debt.
By consolidating your debt under repayment
terms of 3 or more years, you basically
lower your monthly payment by extending
your repayment period.
- :
link
to our Debt Consolidation Worksheet and
list each credit card that has a debt
balance. Insert the balance amount with
its respective interest rate (APR). Hit
"Calculate" to total your numbers.
use
the debt consolidation worksheet to calculate
your monthly payment
Note that your payoff term will be anywhere
from 5- to 7-to 10-years or more.
Calculate your estimated monthly payment;
note the monthly savings you can anticipate
by consolidating your debt under extended
repayment terms.
Run different repayment scenarios to design
a payoff plan that works for your.
-
:
by using the security of your home,
you can secure a home equity or home
refinancing loan at low rates with repayment
terms of 5 or more years. You can use
this loan to consolidate your credit
card and other loan debt.
This option allows you to setup a repayment
plan with extended terms that can significantly
reduce your monthly payment (depending
on the amount being consolidated).
You can also pay extra each month to
quickly payoff your consolidation loan.
Get up to four national lenders to review
a consolidation option that fits your
budget. Select the option that works
for you. No obligation.
no
obligation debt consolidation loan
form
:
this deb reduction option is available
for debt holders who don't have a home
or who don't have enough equity in their
home to consolidate. Debt professionals
will tailor a debt reduction plan that
works for you.
This option allows you to setup a repayment
plan with extended terms that can significantly
reduce your monthly payment (depending
on the amount being consolidated).
no
obligation debt reduction request form
as you pay down your consolidation loan,
lower your monthly bills in housing, transporation,
living, recreation, and more.
Click
to view "lowering your bills"
Your monthly cost savings can be used
to pay down your debt faster.
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Use
this option if you are unable to payoff
your credit card debt |
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use this option if you find yourself unable
to repay your current debt balances and
want to avoid bankruptcy.
This may be the right option if circumstances
such as unemployment, loss of income,
or other unfortunate event prevents you
from repaying your debts.
This option is also recommended if you
have collection agencies threathening
action. Counseling services can advise
and protect you from adverse action.
credit counselors will be able to discuss
your situation with your debt lenders
to either forgive part of the debt or
structure a repayment plan that fits your
budget.
They will also work with you to establish
a monthly repayment plan that fits your
budget.
you first complete an enrollment form
that authorizes the credit counselor to
discuss your situation.
click
here to start that from our national list
of debt counseling professionals
the credit counselor will contact
your creditors to negotiate a repayment
plan that is significantly less than
you currently pay why? creditors
will welcome partial payment rather
than no payment.
credit counselors will then setup
a monthly repayment plan that works
for you
you will then make your monthly payments
to the credit counselor who in turns
divides the payment among the creditors
based on the negotiated repayment
amount
in most cases, creditors will inactivate
your credit cards to avoid charging
additional debt.
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