The Map Magazine

Today a lot of families in Great Britain are in deep water financially. Let’s face it, with today’s financial climate it doesn’t really take much of a mistake or event to leave you with a damaged credit rating. When you have been struck with bad credit getting an account can be hard. Some people are discriminated against for this often unavoidable situation for 5 years, sometimes even more. Banks have recently designed a checking account specifically for individuals with a poor credit history — meaning that there are some feasible alternatives available now. But what exactly are these accounts? Now it’s possible to obtain a bank account with no credit checks. As long as you are over sixteen all you have to do is show identification. Even with an Individual Voluntary Arrangement or a registered bankruptcy, you will still be entitled to a bad credit bank account just by filling in the paperwork and showing the required documents.

In Great Britain it’s often thought to be difficult for individuals with adverse credit to get any form of borrowing. With those level of bank charges people could never get out of debt. With the right bank, you will see there are no additional bank fees and no overdraft charges. Bank accounts for poor credit are as easily accessible as a regular current account. You do not need to visit the local bank any more, as banking on the Internet lets you access your funds from your laptop. When you aren’t close to a PC you can also find out the funds in your account or make payments using a cellular telephone.

Applicants may find it a bit ironic that these unique checking accounts will often have plenty of features that normal accounts simply won’t provide. The opportunity to buy a pre-paid credit card usually is offered by bad credit accounts so it’s possible to kill 2 birds with one stone filling in an application form and not have to cope with endless paperwork or try to find a provider who welcomes your application. Don’t assume that bad credit bank accounts are for dodgy individuals — not at all, they make life easier for individuals who have a poor credit score. It is easy to eliminate any embarrassment by applying on the Internet and receive a confirmation in much less time than it might take by conventional mail. Thus, if you have to sort out your money, apply for a no credit check bank account right now.

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Business Bureau has to say about them. If consumers have registered complaints about the credit counseling program, they might not be the best to use. Carefully consider any complaints you find, keeping in mind that some people are unreasonable or vindictive and not every complaint necessarily has validity. If the agency has a complaint, be sure to read their explanation of events to see what they claim occurred and how to rebuild credit. Then decide if it makes sense to you to work with that company. Questions to ask After you narrow down which credit counseling programs you might like to use, you can make a final decision based on probing questions with which to ‘interview’ the credit counseling program. They?re going to be asking you everything about your life, and you have the right to know all about them as a business too. This will help to stop the threatening phone calls and letters and give you an opportunity to make good on your debt that works for you. Many debt collection agencies are quite happy to leave you alone as long as you do send them something every month. Paying a bill late once in a blue moon is not a life stopping event (although I don’t recommend it due to the adverse effect on your credit score) however if you are unable to pay your bills (to include the minimum payments) or always pay them late then consumer credit counseling will indeed help get you out of a financial jam and prevent creditors from harassing you on a daily basis. The benefits of credit counseling manifest from the ideas and advice they give you in regards to managing your debt properly.

Genau darum habe ich einen Nebenjob!

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How do you know that you are in DEBT? How do you know that you are really in deep DEBT? Do you think you need DEBT MANAGEMENT or DEBT CONSOLIDATION? This are the questions that most professionals will ask you about. If not, you will ask yourself this question. The true fact is that once you are interested even to pop into this web page, most likely you are in debt and you need advice on debt management or debt consolidation. The truth is you are not alone, you do not need any high tech software to give you a profound answer that you are in debt neither do you need to seek any credit repair guru to tell you,”you are in debt.” In this journey or articles that I am about to introduce, you will find that the table of contents are not named with different titles, they are just simply Debt Management and Debt Consolidation part 1, 2, or 3; this is because you have to follow our program right from the start and not jump straight into some chapters that interest you, eg. go right into chapter 3 and skip chapter 1. That WON’T WORK! You have to read all the chapters one by one.

But in order to go any further, you got to know this: no debt is too high for you to conquer. It is not impossible for you to turn your situation around and start living your life. No matter how dire the situation is, whether is a $2000 debt or a $500,000 debt, there is always light at the end of the tunnel. If you feel like ending your life at this instance because you feel that you just cannot get out of the hole, stop this moment and talk to someone about it, talk to a debt management expert, someone that can response to your questions. Always remember that you are not alone, there are more than 190 million Americans like you that own a credit card and the average debt is $9000. And that just does not include home loans and car loans, lots of people are living on debt and you are not alone. And they don’t send debtors to prisons, so snap out of it and brace yourself up.

Okay, fasten your seat belts, here we go. The journey to becoming debt free starts NOW! This is not a miracle pill that you take in and by the next day everything will be back to normal. It is a journey of commitment. Ever been to the gym, or going on a diet? The key to these success is commitment. You don’t go to the gym to bodybuild whenever you feel like to, or eat anything you like when you are on a diet, you have a program to go through. And in order to achieve results, you have to be committed to the program that is being layed down.

So the first thing to do is CUT UP YOUR CREDIT CARD! Yes, that’s right, cut it up. Don’t do it tommorrow, don’t do it next week, DO IT NOW! The reason why you have to cut up your credit card is because only then you will stop incurring more debts. You will never get out of debt if you continue to borrow, that is continue to pay from your credit card. Cutting up your credit cards does not mean closing your accounts, it is only plastics, you can reapply for a new card again.

From now on, you will be living back in the 70’s when credit card has not appeared on this earth to lure your temptations. Everything you buy or eat or even enjoy will be paid by CASH. In the beginning it will be difficult, b ut once you get use to it, it’s a breeze. So get use to it, you have to do everything in cash till your debt is in control or probably you are more prepared to use it wisely. We will teach you how to use your credit card more wisely, the right way.

As the saying goes, you can’t measure what you can’t count, so to assess your situation you need to dig out all your bills, receipts, statements, everything that you owe and start totaling them up. I have provide you a simple form that you can key in, download it from the end of this chapter. From the form you will find the “Creditor’s Name”, “Amount Owed”, “Monthly Installment”(the monthly payment you are obligated to pay), “Interest” and “Due Date”(Monthly).

Now having said all this, you need to loosen up. As this is not a miracle as I said earlier, yhou need time to work it out, you have to think long term. Keep your eyes on the goal, it may take a few years, but by the time you emerge as a conqueror of the mountain of debts, you are back in control of your finances.

Clifton T is the writer of http://www.absoluteguys.com a portal for men where you can find anything from debt management, mens health, toys, business, jobs, diet, and anything that interest a man.

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Spending time in college means going to classes, writing papers, studying for exams, and enjoying the college experience of fun, food, and frolic. Oh, if it only were that easy! Chances are you are racking up some serious debt in the form of students loans. If you have already graduated, then you are probably in the process of paying your loans back. Are you happy yet? Maybe not, especially if your student loans are more of a burden than you originally had expected. Read on, please, for some ways you can ease the burden and live a life that goes beyond paying off debt.

For many students, it isn’t all that uncommon to graduate with a bachelor’s degree and find yourself owing 10, 30, even 60 thousand dollars or more in student loan debt. How did all of this happen? High tuition, that’s how. Likely your first job out of college isn’t paying you a mint just yet either. Car payments and credit cards bills coupled with everyday living expenses can find you digging a whole that only gets deeper. What should you do? Perhaps you should consider looking into a government student loan consolidation.

So, just what is a government student loan consolidation? For starters, it is a type of a loan that allows you to take multiple student loans, pay them off, and make monthly payments to just one lender. For example, if you have three loans due to three different lenders at three different times of the month, you can keep better track of all of it if you had just one simple payment to make every month to one lender.

In addition, a government student loan consolidation may lower your interest rates, permit you to postpone your repayment schedule, and allow for you to take out some additional extra money to pay back other creditors including credit card providers.

Some things to keep in mind before you select a student loan consolidation include:

Amount Borrowed. Will the loan consolidation pay off all of your student loans, or just a percentage of what you owe? Your consolidator may want to see pay stubs and other proofs of income before approving your loan.

Annual Percentage Rate. Will the loan rate be fixed or will it be adjustable? You may want to lock in your rate to make sure that your monthly payments remain constant.

Your Loan Term. Can you deal with paying back a your government student loan consolidation for as long as twenty years? Take into consideration you may want to purchase a home, get married, start a family, buy a new car, etc. It can be difficult to anticipate the future, but will the loan saddle you with debt longer than necessary?

A student loan consolidation is definitely not for everyone. Make certain that you understand the terms of your agreement with the loan consolidator and sign nothing until you can have the contract reviewed independently. It is your life; weigh all of your options carefully.

Copyright 2005 — Matthew Keegan is The Article Writer who writes on a variety of topics including: advocacy, automobiles, aviation, business, Christian themes, family, news, product reviews, travel, writing, and more. Samples from his portfolio are available right online.

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If you’re seriously interested in knowing about the role of a structured settlement company, you need to think beyond the basics. This informative article takes a closer look at things you need to know about a structured settlement company.

Structured settlements are payments made by an offending party to the aggrieved party. They are often put in place in lieu of fighting things out in court, which can run the losing party more than the cost of settling.

Most often, these cases involve personal injury situations, and determining who is at fault. When a case is won by the plaintiff (the injured party), they often seek the services of a structured settlement company to manage the payouts, which can last several years.

Upon learning that you’re going to receive a structured settlement, you should immediately find and hire a good attorney who specializes in this kind of case. In fact, it’s a requirement for those living in some states. Together, you and your lawyer can find the best structured settlement company to serve your ongoing needs.

Choosing a structured settlement company involves a lot of paperwork, as you might suspect. The important forms include: Annuity Applications, Qualified Assessment, the Structured Settlement Agreement, and in some cases, what’s known as the Court Order Approving Minor’s Claim (for cases involving minors). Your attorney’s job includes helping you wade through this deep pile of documents, so find one asap.

If your structured settlement is large, beware of offers to buy out the settlement in exchange for one lump sum payment to you. While this may be appealing, depending on your financial situation, it usually results in a poor bargain. It’s usually much preferable to find a quality structured settlement company to administer regular payments through an annuity or other financial instrument that will reduce your tax burden.

See how much you can learn about a structured settlement company when you take a little time to read a well-researched article? Don’t miss out on the rest of this great information.

Better structured settlement companies will take the time to thoroughly explain your options. If you feel that you’re being ignored or rushed through the process, find a better company. This, again, is where you lawyer can be of help, as he or she will likely have dealt with these situations in the past.

There are legal terms involved with which you should familiarize yourself. They include Plaintiff, which is you (the injured party), Defendant (the person or company responsible for the injury), and Insurance Carrier (the company providing the Defendant with insurance). Many other important terms will come up, so be sure to ask your attorney at every step in the process to explain words that are not familiar.

When it comes time to pick a structured settlement company, bounce your thoughts off of your attorney - even the ones you think are insignificant. If you are unsure at all about important things, like the terms of the annuity that will pay you on a regular basis, be sure to ask and get an answer you understand. It’s too big a decision to entrust completely to another’s judgment.

Ultimately, the key is to educate yourself about what each structured settlement company is offering. Spend some time on your own researching the process on the Internet. This can only help you to make a truly informed decision that will benefit you for years to come.

Now you can understand why there’s a growing interest in structured settlement companies. When people start looking for more information about the roles of a structured settlement company, you’ll be in a position to meet their needs.

Ken Austin is the webmaster at Structured Settlement Tips
and Structured Settlements and Annuities.

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The UK consumer debt problem is rocketing out of control. Total consumer debt has passed the £1 trillion mark and now stands at £1.13 trillion. Whilst average household debt across the UK is of £4,092 and is set to rise.

Meanwhile the number of bankruptcies being declared is increasing year on year. In 2005, the total number of bankruptcies recorded was 70,000. This figure was much higher than bankruptcy figures for 1992 when the UK was in recession.
The reason for the rise in debt and bankruptcies is two-fold.

First the stigma associated with being in debt and going bankrupt is eroding. More and more people are seeing debt as an inevitable aspect of modern life. Moreover, they are seeing bankruptcy as a route out of their troubles rather than something that should be avoided.

The other key factor contributing to the increasing levels of debt and bankruptcy is the easy availability of credit. Lenders compete aggressively in the UK encouraging consumers to borrow now and worry about the future later. Then they sting them with huge interest rates.

Of course the Labour government has not done much to cap lending or discourage bankruptcy despite all the lip service it pays to doing so. For instance, the rule changes to the Enterprise Act of 2002 allowed debtors to be discharged from their debts within one rather than three years.

Yet despite the seemingly relaxed consumer attitude to debt and bankruptcy, they really should be avoided if possible. Being in debt is extremely upsetting and stressful. This is shown by the fact that 70% of couples breaking up state financial worries as the main reason.

Furthermore, bankruptcy carries long term disadvantages and penalties. Bankrupts often lose their homes and find it impossible to obtain credit at normal market rates, for example.

So is there an alternative to bankruptcy and debt?

One of the best ways to stay out of debt is to manage your money carefully and not spend more than you can afford. Rather than borrowing money to purchase goods, it is much better to save up and wait until you can afford to buy them on your own.

There is also a very good alternative to bankruptcy. This is the IVA and it was introduced via the Insolvency Act of 1986.

An IVA allows debtors to clear their debts by making affordable monthly repayments over a five year period. During this time interest on the debt is frozen and often a certain amount of the debt is written off altogether.

Clear Start offers free IVA advice to help you find a legitimate alternative to bankruptcy: Alternative to Bankruptcy

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Debt settlement is a process that should only be considered by those who are at the brink of bankruptcy. Debt settlement companies can often work out deals with your creditors for 60-75% of the balance of your debt. They also usually work out a no interest payment plan that can lower your total payments and arrange for a pay off in a much shorter time frame.

Debt settlement companies often convince the creditors that an offer to settle for part of their money is better than going through the expense of bankruptcy proceedings.
Most often when a contract is signed with the debt settlement company your creditors will bring your account back to current status. This is called re-aging.

Once an agreement is reached your debt settlement company should make every effort to be fielding all calls from your creditors. Debt settlement takes strict budgeting because you will be making your monthly payment to your debt settlement company instead of your creditors. If you fail to make a payment they usually will drop your case and notify your creditors to proceed with legal actions as needed.

Debt settlement companies also offer credit repair. This is a fee based process but it can be well worth it in the long run. They will work with your creditors to get bad marks removed as a reward for your keeping your end of the deal.

When looking for a reliable debt settlement company you should investigate them throughly and make sure they understand the laws of your state. A good debt settlement company can go a long way towards you gaining stability and getting back on the right track. Always ask lots of questions and use the internet to become more familiar with the process.

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Debt can be a never ending drain of money. Before you even get your paycheck, it is all spent towards the bills. You just can’t seem to get ahead.

But you can turn it around. It won’t be fast or easy. You will have to really make some changes in your lifestyle. Start by taking the time to look at where you are, where you are going and how you can get there.

First, go on a financial diet. Take every credit card and lock them in a safe deposit box. Don’t use them for anything else. No more charges. Now you are forced to live only on what comes through the door.

Go through your bills and cut out all the unnecessaries. Have your satellite television turned off, have the soft water system picked up and cut your utilities by becoming frugal in your energy usage.

Decide how much you will need to spend for groceries and gas from each paycheck. Take the amount out in cash when you deposit your paycheck. This is all the spending money you have. There is no more until the next paycheck.

The idea is to cut out everything you can. Put every cent you can to paying off your debt. If you are having trouble with any of your lenders, you need to start contacting them right away. Be honest, up front and tell them how much you can afford to pay each month. They will usually work with you to prevent your default on the loans.

If you think you can afford to pay off any of your loans, try to offer a settlement of 75% of what is owed. Some may just agree. It will affect your credit report, but if you are in a bankruptcy or bust situation, every little bit can help you. Remember, never be afraid to ask. You might just get a yes. They get something instead of nothing.

Ask for a raise or promotion at work. This could bring in some extra money. Or you might just have to take a second job for a while. It can be worth it in the long run. Think about it this way: you could have no money for four years to pay off your debts or work two jobs for two years to pay them off.

Paying off debt will not be quick and easy. It takes time and sacrifice. Many people sell their homes and use the equity to get out from under credit cards. Others have to take on second jobs. Some have to sacrifice vacations, new clothes and drive older vehicles. But it is worth it.

You don’t realize how great it is to live without debt until you come out from under it. You have few worries and more financial options. You can make better choices for your family when you have little debt. You can save for your future and live for today.

Martin Lukac (http://www.MartinLukac.com), represents http://www.RateEmpire.com and http://www.1AmericanFinancial.com, a finance web-company specializing in real estate/mortgage market. We specialize in daily updates, rate predictions, mortgage rates and more. Find low home loan mortgage interest rates from hundreds of mortgage companies!

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Do you dream of living without the burden of excessive debt hanging over your head? It’s possible, but not easy. Living debt free requires financial discipline, all the time. To become debt free and maintain a debt free life, try the following three steps:

1. Get rid of existing debt. This is obviously your first step to living a debt free lifestyle. Cut up any credit cards that you currently have in your wallet, purse, or desk drawer and do not apply for or accept any other cards. Pay your bills on time, sending as much as possible to one account while paying the minimum due on all of your other accounts until the account is paid off. Do this until all of your debt has been paid off.

2. Create a budget. Every single person who lives without debt has a financial budget and follows it. Without budgeting for expenses and incidentals, people overspend on unnecessary items and then when things just “happen” unexpectedly, (otherwise known as unplanned for expenses) these individuals rely on credit cards to make ends meet. Make a list of every monthly expense you can think of. Then, make another list of every incidental expense that you pay throughout the year but not necessarily on a monthly basis. If you usually get 3 oil changes a year at $20 a piece, you need to plan for $60 a year for oil changes, which is the equivalent of $5 per month. Once you have a comprehensive list, subtract your total monthly expenses from your total monthly income and see what is left over. Be sure you include savings accounts in your “expenses”. Pay yourself first is a good rule to live by. If there is still money left over, congratulations! Use it to pay more on each individual account until everything is fully paid off, or invest in IRA, 401K’s, or even a money market account with high interest rates to help your money earn more money.

3. Avoid credit like the plague. Make all of your purchases with cash and you will never fall into the debt trap again.

Manage Your Money

As you are starting the process to a debt free life, you should be extremely mindful as to where your money is going. It’s important that you track your spending habits for a period of time in order to see where money is being wasted, or where you can cut costs without completely changing your lifestyle. Keep a notebook where you list every single item you purchase, including the amount you paid, where you purchased it, and the reason. Include all bills that were paid, how much you paid, and how much you still owe. After a few months of tracking your spending habits, you will be able to determine exactly where all of your money is going, and you may be surprised at how much your little purchases are adding up and eating away at money you could be using to pay off debt to enjoy a debt free lifestyle! That cup of coffee you grab every morning on the way to work could be costing you $10 or more each week- about $40 per month, and brewing your own coffee at home could save you considerably since you can purchase a can of coffee for about $4 and it will last you about a month!

How to Remain Debt Free after Recovery

One of the biggest mistakes people make after making a financial recovery is to allow themselves to fall back into old habits. Before they know it, they’ve racked up another few thousand in credit bills, and they’re heading down the same path to having a desperate situation where they just can’t make their payments on time each month.

You do not need to have credit cards in your wallet. Yes, it is a very odd feeling to go from having several cards available to you to none, but it is the safest way to avoid overspending. You may want to keep one credit card in a safe place in your home, for purchases that do require a credit card. Think long and hard before using the card, and if it is possible to buy it with cash, than do that instead. A credit card should not be used for every purchase, nor should it be used when you want to buy something unnecessary that you don’t have enough cash to purchase. If you want a luxury item, save your money until you can buy it- if after several months of saving you decide you don’t need it, then you’ve saved the money on an item you previously may have purchased on a credit card, discovered you didn’t really need or want it, and then had to pay back three to four times what the item is worth after all the interest and finance charges were added!

This article has been provided courtesy of Destroy Debt. Destroy Debt offers great debt relief articles for reprint, and tools and advice that provide the debt help you need.

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You are More than You Owe - Just Remember That!

It’s official. Americans are drowning in debt. Not only are we working record hours and decreasing our quality of life just to pay the bills, but we are also racking up more debt even as we’ve paid off another! How can we stop this vicious cycle or revolving debt, and get our financial lives back in order?

I found these few simple guidelines helpful in my own personal quest to be debt free, and in fact succeeded in paying off all of my outstanding revolving (credit) debt. You may also be able to apply them to your life as well, or at least modify them to help your personal situation.

1.) Limit your trips to restaurants. I hear more people who complain about uncontrollable debt talk about eating out several nights a week. And guess what they’re using? Credit cards. Don’t dine out unless you’re paying with cash or your debit card. Eating out is much more costly than eating at home. After tipping, many times two people can spend $40.00 or more. Imagine putting that same money toward an outstanding debt. Now take it a step further and visualize how it will feel to be debt free, and also guilt free when you do eat out again.

2.) Every time you go grocery shopping, make a list and a pre-determined budget and do not waver from it. Not only can your wallet benefit, but many times your waistline too!

3.) ALWAYS try to pay at least double, if not triple your minimum credit card payments. This not only gets them paid down - and eventually off - faster, but it also reduces the interest on the unpaid balance, which gives you a little more breathing room to pay less in the future, since you’re not constantly adding more interest. Then it becomes an exercise in futility.

4.) Go ahead and play the “Credit Card Game”. This is where you pay off a higher interest credit card to a zero balance, with a new zero APR card. These types of credit cards usually only offer the zero APR deal as a limited time introductory rate, but you’ll still be getting a zero interest rate for those 6-9 months, which gives you more time to “really” catch up on your payments and pay a little more, when there will be nothing else tacked on, and you can truly pay your balances down to manageable amounts.

Two things to note when playing the “Credit Card Game”:

a.) Make sure you will get the going prime rate when the intro period is up.

b.) Do not cancel your old card. Just keep it at a zero balance. Experts say it is better for your credit score if you do not cancel old credit cards.

5.) Start a side business. I would say get a second job, but historically people who have two jobs do not win in the end as far as taxes go. If you have a side business doing something that you enjoy, not only are you getting a second income, you are also getting tax deductions. This is a good rule of thumb, but as with everything else in life, it does not apply to every situation. There are tons of businesses that cost virtually nothing to start up, and it can be a very gratifying experience.

Visit Spoozer Men’s Magazine: Cars, Music, Technology and Humor Mag for great leisure reading and the latest scoop on cars, music, technology and even beer. Danna Schneider is the founder of Prime Rate Credit: Daily Weblog on Credit Management.

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