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Debt Relief: Difference between revisions
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The steps most of these agencies take to help debtors eliminate debt are: | The steps most of these agencies take to help debtors eliminate debt are: | ||
# Help debtors to assess their debt situation. | |||
# Offer debt counseling, such as, how to avoid overspending and advise in handling existing debts. | |||
# Help the client to build and maintain good credit. | |||
Most financial advisors agree that the most important step a person must take before seeking counsel is to change their money management skills. The debtor must change the way he/she thinks. They must rid themselves of all financial anxieties or debt will probably accumulate again. | Most financial advisors agree that the most important step a person must take before seeking counsel is to change their money management skills. The debtor must change the way he/she thinks. They must rid themselves of all financial anxieties or debt will probably accumulate again. | ||
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For those who need assistance managing their credit there are a variety of choices and options available. In an article by Hispanic magazine, financial author Julie Stav explains what a [[Debt Relief:Bibliography#Self Help | FICO]] score is, how credit bureaus calculate it, and ways to improve your score. An article by U.S. News and World Report states the following steps to keep the score manageable: | For those who need assistance managing their credit there are a variety of choices and options available. In an article by Hispanic magazine, financial author Julie Stav explains what a [[Debt Relief:Bibliography#Self Help | FICO]] score is, how credit bureaus calculate it, and ways to improve your score. An article by U.S. News and World Report states the following steps to keep the score manageable: | ||
# Pay bills on time. | |||
# Pay down debt. | |||
# Maintain long-term credit relationships. | |||
# Do not apply for too many loans. | |||
A great self-help guide to consider is Repair Your Own Credit which instructs debtors in how to repair and reestablish credit. It also lists organizations that will give free or low cost assistance in helping one stay out of debt. NEA Today, refers to credit management agencies such as Equifax and warns people about credit repair clinic rip-offs. These agencies do not do anything that you cannot do yourself. The counselors at Credit Union Magazine suggest that bankruptcy be the last resort in debt relief. | A great self-help guide to consider is Repair Your Own Credit which instructs debtors in how to repair and reestablish credit. It also lists organizations that will give free or low cost assistance in helping one stay out of debt. NEA Today, refers to credit management agencies such as Equifax and warns people about credit repair clinic rip-offs. These agencies do not do anything that you cannot do yourself. The counselors at Credit Union Magazine suggest that bankruptcy be the last resort in debt relief. | ||
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* [[Debt Relief:Bibliography | Bibliography, Resources, and Further Readings]] | * [[Debt Relief:Bibliography | Bibliography, Resources, and Further Readings]] | ||
[[Category:New Media]] | |||