Financial Planning Guide

Debt Consolidation

Our guide to debt consolidation will help you realize the financial freedom you deserve. If you're like many Americans, your credit card debt may be reaching a level where you're not as comfortable as you used to be. We've got plenty of information to help you get back on track and stay that way.

We'll tell you what to watch out for when evaluating a debt consolidator - whether it's a non-profit organization or Christian debt consolidators. If you looking for a budget and don't know how to get started we've got an entire series dedicated to that topic. Finally, we'll help you understand what personal bankruptcy is all about and how to avoid it through the use of counselors and debt consolidation loans.

Credit Cards and Personal Debt

Carrying around a personal credit card can be extremely convenient - sometimes too much so. If you're one of those persons with a lot of credit card debt, statistics indicate that you're not alone.

If you'd like some pointers on how to get that credit card debt back under control or you have been thinking about talking to your creditors about a settlement, this is where you want to begin your research:

Debt Elimination Basics

Our debt elimination basics provide you with an overall stepwise process to move from less aggressive forms of debt elimination such as budgeting to more aggressive forms of debt elimination.

If you're thinking about declaring personal bankruptcy, you're starting at the end of the road. You've got a lot more options that you might want to explore first:

Household Budgets

Household budgeting is the first step we usually recommend when it comes to getting your personal finances back in shape. Here we teach you the basics of running your home like a business - and a profitable one at that.

There are lots of helpful tools we provide too, like free budget spreadsheets that you can download:

Debt Counseling and Management

Many times debt starts to build because of a social, emotional or a hardship that has befallen a family. It's sometimes difficult to get back up on your feet by yourself. That means a good debt counselor can help you with things like setting up a budget as well as making sure any outstanding social problems have been addressed:

Debt Consolidation Services

One of the more aggressive steps you can take to get your debt back under control is by using a debt consolidation service. Just be forewarned, there are a lot of companies that prey on people that appear to be in a hopeless situation.

If you've decided to work with a debt consolidator to help you consolidate existing loans, make sure you're getting the best deal. We can give you some pointers on how to find a good one:

Consolidation Loans

For many of us that are juggling multiple loans, a larger consolidation loan makes a lot of sense. It's easier to write one check a month and larger loans usually mean lower interest rates.

Here is a quick look at some of the options you have, including consolidation mortgages as well as loans:

Bankruptcy and Credit Reporting

If you think bankruptcy is the answer to all your problems, then you need to make sure you understand exactly what can happen to your personal property. If you know a friend that declared bankruptcy a couple of years ago, then you should know that the bankruptcy laws changed recently.

It's much harder today to have all your debt forgiven and bankruptcy can hurt your credit rating for years to come: