The Pros & Cons of Making Yourself Bankrupt — Chapter 7

To many, chapter 7 bankruptcy – liquidation – proceedings are the most punitive form of debt management/repayment. While it many not be too difficult to understand why some creditors might wish to opt for this process, why would a debtor want to undergo this process? The following is a list of 5 pros and 5 … Continue reading The Pros & Cons of Making Yourself Bankrupt — Chapter 7

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Using Credit Cards — Advantages and Disadvantages

Credit cards are a great concept but they end up bringing financial ruin to many people because they do not use them properly. Too many people get a credit card and then find that it is maxed out within twelve months. Then for the rest of its existence they end up paying off interest and barely making … Continue reading Using Credit Cards — Advantages and Disadvantages

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The Role of a Debt Counselor in Debt Management Programs

Seeking a consultation with a debt counselor is often cited as being an effective means of combating your debt management concerns. However, more often than not, the role of a debt counselor, in the debt management process, is an elusive one to all but those who have gone through a debt management program. With this … Continue reading The Role of a Debt Counselor in Debt Management Programs

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What is Debt Consolidation?

Debt consolidation — it’s a buzz-phrase we often hear being bounded about these days. Though, what exactly is debt consolidation and why would you want to consider it? Simply put, debt consolidation is where you take a lot of your small debts and “consolidate” (put them all together) them into one or two large debts. … Continue reading What is Debt Consolidation?

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4 Steps to Eliminate Debt

Getting Out Of The Red And Into The Black To eliminate debt, you need a strategy and patience. Yes, there’s a lot of hype right now about erasing debt instantly and painlessly. Unfortunately, unless you come into a windfall of some kind, this isn’t likely to happen. With some thorough planning, though, you can eliminate … Continue reading 4 Steps to Eliminate Debt

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Help Getting out of Debt

Having trouble with too much debt? If so, you are not alone. To help, there are many “debt consolidation” and “free credit counseling” firms that are interested in your business, and it’s probably best to avoid many of them. These private firms will charge high fees, and not all of them are looking out for your … Continue reading Help Getting out of Debt

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Budgeting Money and Debt: Inflow vs. Outflow

A key concept in managing your finances is inflow vs. outflow. Essentially inflow is all the money you receive or generate while outflow is all the money you spend. There is nothing subjective about these terms. Each should have a concrete and tangible number attached to it and you should know what that number is on a monthly … Continue reading Budgeting Money and Debt: Inflow vs. Outflow

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