Debt Programs - A 3 Credit Report

What's a 3 Credit Report and how can it help you?

A 3 credit report can be useful for a variety of reasons. There are three major credit reporting agencies: Experian, Equifax, and TransUnion, and each of them has their own information about your credit, so to get a good credit report, you have to use all 3. Fortunately, you can get a 3 credit report for about $24, and this will tell you all you need to know about your credit.

Many institutions need to know your 3 credit report before they will approve of you, and so knowing your credit record can give you a heads up on your chances of receiving all kinds of services. For example, a home loan will not be given if you have a bad credit score, and neither will insurance, a credit card with a low apr, or some times even a lease on a house of car. So knowing your 3 credit report can be a short cut to save you time applying to services which you won't receive.

Another thing about knowing your 3 credit report score is that it can show you if someone has been defrauding you or stealing your identity. If, for example, someone has been getting accounts in your name and not telling you or paying them, they will show up on your 3 credit reports as a bad score. This will let you take appropriate legal action to get them removed from your record and to get the guy who did it by calling the cops.

If you want more useful information about this or any other matter of interest, please visit The Complete Life Guide website.

Debt Programs - A Bad Credit History

Having a bad credit history can be a real nightmare and major source of headaches. With a bad credit history you are pretty much financially disabled from everything except transactions that can be covered with cash. Finding an apartment to rent, trying to buy car, putting a down payment on a house, or applying for a credit card or a loan from a bank can all be activities you are basically barred from with a bad credit history. Banks, businesses and landlords can see a bad credit history a mile away and will avoid you like the plague. And it seems like all the steps that are supposed to build credit require good credit in the first place. How can you break out of this credit catch-22 once you get stuck in it?

Read more of this article at A Bad Credit History. If you want to read more articles about debt programs, and other areas of interest, please visit Complete Life Guide, as there's heaps more to be found there (please note, though, it's a new and growing website and there is a LOT to add to it before it will be fully up and running!)

Grrrrrr

This blog has been blocked as a potential spam blog! I don't see how something that was so obviously written by a HUMAN can be considered SPAM!!!! I heard the other day about this happening to someone, and I didn't think it would happen to my blog! (Although I did wonder why I had to fill in a verification when I hadn't had to before). Anyway, when this IS posted it will allow the reader to understand how annoyed I am that this happened to my blog, which is obviously human!!!

How To Avoid Paying Back Debt

Debt avoidance sounds like everyone's dream come true. But how does it work? And is it really, truly an ethical option. I'm not sure I can answer that question, although the many companies promoting it claim it is!

If you want to see an example of a "debt elimination" program then check out http://www.the7thfire.com/Politics%20and%20History/Eliminate-Credit-Card-Debt.html This site proposes to help you completely wipe out credit card debt. Now, the theory here (I call it a theory because I'm just not convinced of their logic) is that when banks approve your credit card application they're actually using an applican'ts name and signature to "create" the money that funds the card. In essence, they're lending you your money. Make sense?? Basically, this means that if you spend this credit card money, you're really spending your own money so you shouldn't have to pay it back. (Even though in fact you've bought products without forking out a single dime!)

To be honest, my issue with these debt programs is not that they don't work (in fact, I can't say for sure whether or not they do work, maybe they're very effective), I just feel - deep down - that if you get into debt, it's your responsibility to pay it back. (Hope I don't sound too much like I'm preaching!) In this world, you can't get something for nothing! What I aim to do with this blog is provide you with helpful information which will allow you to manage your debt and eventually get out of debt (as well as avoid getting into anymore debt).

However, I'm always interested in other's opinions on this topic!

The Facts About Debt Consolidation

Debt programs such as debt consolidation, allow you to consolidate all your loans into one bigger loan, which has a lower interest rate, and therefore lower repayments. However, there are many debt consolidation programs to choose from, and some are better than others.

One company is Accelerated Debt Consolidation, Inc. This is a full service debt management firm, and provide high quality debt consolidation services. They specialize in reducing high interest rates, and are happy to give consumers a free quote. To find out more about their services, visit www.debtsynergy.com.

When looking at debt programs involving debt consolidation, you have to be very wary. There are companies who are in the debt consolidation business to make money for themselves, and may damage people's credit by offering them so-called assistance. To know whether the debt consolidation program you're looking at is trustworthy, watch out for companies that:

* Require payment by money order or cashiers check.
* Require account numbers before providing you with a quote.
* Offer many services like debt negotiation, IRS Help, credit repair and seem to be jack of all trades firms. Debt Consolidation is a specialized, labor intensive process when done properly. Firms that have branched out into all of these related services are most likely having trouble internally.
* Refuse to send you a client agreement regular mail and require fax only.
* Have you hold or call back to see if you are "approved". There are no approval requirements for debt consolidation other than determining whether the creditors that you have will be ones that will offer better terms, and whether you can afford the required payment.
* Use "servicing associates" these firms advertise on the internet and elsewhere and are just marketing or lead generation firms, they sell your name to other companies.
* Advise you to include accounts that already have low rates - see chart on payoff calculator.
* Advise you to include Student Loans in your consolidation. Student Loans already have low rates, usually 7.75% to 8.25% and do not offer more favorable rates for debt consolidation plans.
* Advise you to include credit union accounts with rates that are already low.
* Advise you to include the IRS. IRS debt must be handled separately from the rest of the accounts in the consolidation. Accelerated Debt Consolidation, Inc. can advise you on how to handle your IRS problem through the proper source.
* Quote a set interest rate like "between 0% and 10%" instead of quoting each creditors rate individually.
* Quote payoff times of "4 years" or "53 months" instead of giving you the individual payoff time for each creditor. When you have 7 creditors with 7 different balances and 7 different interest rates an answer like "4 years" or "53 months" is obviously coming from a telemarketers sales script not a Debt Management Professional. See the Payoff Calculator.
* Advertise "lower your monthly payment by 30 to 50%". There are no banks that still accept lower payments through credit counseling. Until November of 2003 Bank One/First USA was one that would accept 1% of the balance, they no longer accept 1%. Bank of America stopped accepting the 1% payment on March 25th 2004. These were the last 2 banks that accepted a lower payment.
* Offer "Cash Back Awards".
* Quote an unusually low monthly payment especially if you have gotten higher quotes from other companies and have substantial balances totaling $30,000 or more.
* Debt Arbitration Or Debt Negotiation Services - This Is An Entirely Different Service Than Debt Consolidation. These firms negotiate with creditors to reduce the total amount that you owe. This is never a viable alternative for consumers that wish to maintain their credit. What most debt negotiators don't tell you is that when they negotiate a reduced payoff amount, it is reported as a paid charge off or R-9 on your credit report and you will pay income taxes on the amount that the creditors let you off the hook on. In other words if a creditor settles a $10,000 debt for $5000, the $5000 is reported as income and you will be taxed on it. In addition, the account/accounts will be R-9 charge offs on your credit report. Debt Negotiation is never for consumers who are current on their accounts and want to maintain their credit. Click here for more info.

The moral here, in choosing debt programs such as debt consolidation, be very careful who you deal with. If you're not sure whether or not a company's the real deal, it might even help you to visit a financial planner or your bank to find out whether or not it's a legitimate service. Also, be sure to check companies up on the Internet, and see whether they've been rated negatively by other consumers.

The right debt consolidation company can save you years in paying off your loans, and may help to prevent bankruptcy and other problems that can occur when you get in over your head.

The Best Debt Reduction Programs

This Blog has been set up to give you, the reader, the best information about the best debt programs available today. We'll be reviewing debt programs regularly, and keeping you informed about what's best for you.

Today, I thought we'd talk a bit about software debt programs. The first on my list is Debt Analyzer, a debt program which will help you in your quest to become debt free.

One of the best things about Debt Analyzer, in my opinion, is that it comes with a 30-day evaluation period, meaning you can try it absolutely free for 30 days, and if you don't like it, you don't pay. For many people this is a better option than getting a money back guarantee (although that definitely won't stop me recomending a good debt program!) because it lets you try before you shell out the cash. And, if you're in the market for debt programs, you probably don't have cash to bandy about anyway. So, a program that comes with a 30 day trial period is fantastic news!

Debt Analyzer is one of those debt programs with a lot going for it. For starters, it allows you to work with 50 debts per debt plan at a time. Now, I hope you haven't got 50 debts, but if you do, it's easy to manage them with Debt Analyzer. It allows you to play with different "what if" scenarios, so you can see the different effects made on your debts by trying different options (for example, extra payments). You get a debt reduction plan, allowing you to prioritize your debts by interest rate, balance and payment, and you also get a loan consolidation plan. Debt Analyzer also produces useful reports which will help you in your debt reduction program.

If you want to find out more about Debt Analyzer, visit www.debtanalyzer.com

Disclaimer: I'm not associated with any of the programs I review, so you can be assured that I'm not writing rubbish for profit. My aim with this blog is to provide useful information for everyone interested in debt programs.