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Come check out our tips on DEBT HELP. You will find informative articles and more!

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Debt Help Coach

I want to share a recent email we received…

I wonder how to get serious debt help. I have never been smart when it comes to finances. It seems like no matter what I do, I can't seem to get out of living paycheck to paycheck.

Every time I somehow get out of one money disaster, the next one arrives so quick that I get right back in a finanical hole. I have never really been told how to get serious debt help and that is what I need.

The overwhelming stress about paying my rent or getting food for my kids to eat causes me to be sick to my stomach all the time. What can I do? I need some serious debt help - how can I get it?

This is unfortunately a common situation for many people — the need for serious debt help to get out of the financial agony roller coaster.

Read other articles on this site for helpful advice to get out of your tough situation.

You may wonder if you even have a serious debt problem…

And if you do have a big debt problem how to get serious debt help?

Here are some warning signs of debt becoming a serious problem in your life:

- You have to borrow money in between paydays. You are always asking friends/family for a short term loan or you are going to those awful high interest “payday” loan sharks

- You use your credit cards to pay for necessities because you have run out of money between paydays

- You go over your account limit at your bank and bounce checks on a monthly basis

- You pay only the interest amount on your debts and never pay anything on the principal debt

- Your wages have been garnished to cover outstanding debts

- Creditors are calling you constantly to demand that you begin paying your debts

- You have had vehicles or other items repossessed due to nonpayment of outstanding bills

- You have had utility companies terminate your service because of unpaid bills

If you are experiencing even ONE of the above items on the list – you need to get serious debt help.

How to get serious debt help?

Start by reviewing many of the articles on this blog and they will assist you in getting debt freedom. Believe me, it is possible and it feels so much better than the constant pressure that having lots of debt causes.

Are you at the end of the rope financially? Wondering whether you can get out of debt fast without filing for bankruptcy or debt repayment plans which could take years to pay off? Debt help can help you find out.

Debt creeps up on you without any warning. Most of us ignore it until debts spiral out of control. If you are at this stage it is best to seek debt help to find a debt solution that suits your circumstances and constraints. Here is a simple way to check how you are coping. Divide your monthly debt payments by the net monthly income. Your debt expenses should not be more than 25% of your income. If it is, you are heading for trouble and you should be looking out for ways to reduce what you owe rather than add to it.

You could begin by classifying all your debts into priority debts and non priority debts.

Priority Debts: As the name suggests, priority debts are the debts that deserve immediate attention. They include mortgage or any loan secured against your home. Money owed for tax, VAT or insurance also comes under priority debts. These are priority debts because failure to repay may lead to repossession of your home or legal action.

Non-Priority Debts: These would include various unsecured loans like credit card debts, money borrowed from friends or family etc. Although your creditors can take you to court they normally try to reach an agreement with you. You are unlikely to lose your home.

Self Help for your Debt

Develop a realistic budget: The first step towards fixing your finances is to do a realistic assessment of your income and expenditure. Track your spending pattern and prioritize your expenses keeping your debts in mind. You can source information about budgeting and money management techniques to save money and pay off your debt with minimum hassle.

Contact your creditors: When you feel that your debts are getting out of control you should contact your creditors and try to work out a payment plan that reduces your payments to suit your pocket.

If you feel that you are still not able to come to terms with your debt, it is advisable to seek professional debt help. Consider consulting a credit counseling organization if you cannot come up with a workable budget or chart out a suitable repayment plan with your various creditors. There are many informative resources to help explain debt laws and terms to you. The advent of technology has helped create a convenient source for information and help-the Internet. Various online credit counseling agencies will offer you free debt advice and help you choose the best way forward with little effort from your end. Financial experts will help you weigh the pros and cons of debt solutions and help you with an affordable and effective way of dealing with your debts.

For more information and help log onto http://www.debt.benidorm.co.uk/

Article Source: http://EzineArticles.com/?expert=Reethi_Rai

by guest author - Jon Ochs

 This is one of my most favorite articles that I have written because it addresses so many questions that people have about credit. I love watching the eyes of my clients widen when they find out the truth about some of these most common myths.

 You will be hearing some things that will most likely be the opposite of what you currently believe. Keep in mind that credit and credit reports are not widely understood, and even those in the financial and credit industry, often do not have a good understanding. With that in mind, let's get started

 Myth 1: Paying off collection accounts, tax liens, judgments, or late payments will remove the negative item from my credit reports.

 This is simply not true. In fact, by paying off an old collection account, you can actually lower your credit scores. The reason for this is because more recent negative items will hurt your score more than older negative items. If you pay off an old collection account, not only will the collection account remain on your reports as a paid collection, but it will now show a current date, and cost your more points. I am not suggesting that you should not pay off your delinquent accounts, only that you need to understand the consequences so that you can factor that into your decision.

 Myth 2: If I pay my total credit card balance every month, I will raise my credit scores.

 Keep in mind that the credit system is designed by the creditors, to help them determine if you are a good credit risk, and if you are an optimal credit user (one who uses the system in such a way that it will generate revenue for the creditors). By paying off your accounts every month, you are not es