Arizona Debt Free – Top 3 Tips to Becoming Debt Free

Many people in Arizona would love to become debt free, but most don’t know where to begin. If you follow these three simple tips below you can becoming debt free.

Tip #1 – Cash is King – From this point forward resolve to not use a credit card unless it is an emergency and you do not have an emergency fund set up. If you use cash to pay for your purchases you will typically spend less than you would using a credit card. The other bonus to paying cash is that you will not have a credit card bill at the end of the month. Using cash to make your purchases is a great way to remain debt free.

Tip #2 – Pay off Current Debt – You should develop a plan of how you are going to pay off any current debt. This plan may include a debt settlement if that is determined to be the best option for your situation. Becoming debt free starts with develop a plan to get out of debt and then following that plan.

Tip #3 – Start an Emergency Fund – Life is full of unexpected expenses. This is why it is so important to build up an emergency fund so you will not have to put those unexpected expenses on a credit card. Nothing can derail your debt free efforts more than an emergency.

So, as you can see, if use cash to make your purchases, pay off your current debt, and establish an emergency fund for unplanned expenses you will be well on your way to becoming debt free.

And if you would like more information about becoming debt free please visit our website at http://www.phoenixazdebtsettlement.com/ for a free consultation.

Phoenix Debt Settlement - FAQ #3 About Debt Settlement

And if you would like more information about becoming Phoenix debt settlement please visit our website at http://www.phoenixazdebtsettlement.com/ for a free consultation.

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"Your Best Thinking Got You Here Today" - Mark Erickson

Phoenix Debt Settlement – How to Handle Creditor Calls When Using the Debt Settlement Method

When you are trying to get out of debt and may be behind on some payments you may already be experiencing the annoying and stressful creditor calls to your home and often during dinner time. These calls may be one reason why you considered the debt settlement method to eliminate your debts. However, you may be wondering if these calls will stop once you enter a debt settlement program.

If you enter a program with a honest company they have many ways to help you with the creditor calls. Most companies will send your creditors a letter saying they are helping you settle your debts and the creditors should contact the debt settlement company from this point forward.

If you continue to receive phone calls, simply take the name of the company and contact information. Then give them the name and contact information of your debt settlement company and request that they call them as they are working on your behalf. After a short time, the creditor calls should slow considerable and may even stop.

If a creditor does call, do not engage in conversation with them. They will try to use tactics on you that are not in your best interest. It is best to let your debt settlement company handle all the correspondence with the creditors as they are familiar with their methods and techniques.

When you are enrolled in a program to settle your debts, it is important to keep a call log of all creditors that contact you with regard to debt that you have enlisted in the program. Record the time, date, and creditor that called. You can then have this information to give to your debt settlement company if they request it.

So, as you can see, handle creditor calls when enrolled in a debt settlement program is fairly easy and straight forward. Just remember to always refer your creditors to contact your settlement company who is working on your behalf to settle your debts.

And if you would like more information about debt settlement and a free chapter of our “Finacial Solutions” Workbook along with three worksheets just go to http://www.remfinancialsolutions.com and sign up for our free newsletter. You will also receive helpful budgeting tips along with money saving ideas.

By: Mark Erickson – Financial Advisor with REM Financial Solutions

Phoenix Debt Settlement – Pros and Cons to Debt Settlement

Debt settlement is being used by many people who have overextended themselves and are drowning in debt. It is a very good alternative to bankruptcy. Below are the pros and cons to the debt settlement method so you can see if it is right for you.

Pros

Get Out of Debt Sooner – Using this method many people can eliminate their debt in 18 to 24 months, as opposed to just paying the minimum on your credit cards which could take you 40 – 60 years to pay off the balance.

Learn to Stay Out of Debt – By using this method, people often learn how to budget their money in order to save up for a settlement of their debt. After they have settled with the creditors these people can continue to use the budgeting skills they have learned and begin really saving and living within their means

Cons

Lowers Your Credit Score Temporarily – Debt settlement typically lowers your credit score for a period of time. However, when your debts are settled your credit score comes back up. Some people even end up with a better credit score than when they started the process.

May Need to Pay Taxes – People generally need to pay taxes on the amount that was forgiven to them by the creditors. However, this amount is typically much less that what would have been charged in interest over the course of the year. Check with your tax advisor considering taxes and debt settlement.

So, as you can see, the pros out weight the cons for using debt settlement for most people.

And if you would like more information about debt settlement and a free chapter of our “Finacial Solutions” Workbook along with three worksheets just go to http://www.remfinancialsolutions.com and sign up for our free newsletter. You will also receive helpful budgeting tips along with money saving ideas.

By: Mark Erickson – Financial Advisor with REM Financial Solutions

Phoenix Debt Settlement – 3 Tips When Using Debt Settlement to Get Out of Debt

In today’s economy, many people are in debt up to their eye balls and need a way out. Many are looking into debt settlement to achieve this. This method has helped many people get out of debt. Below are three tips when using the debt settlement method to get back on track.

Tip #1 – Get Some Help – There are many good companies out there that can help you with this process. It is worth having them assist you in this process so you can avoid any pitfalls along the way. They are used to dealing with the credit card companies and collection agencies. These debt settlement companies know all the tactics that the collectors will use throughout the process. So, have some piece of mind and work closely with a good company.

Tip #2 – Know What Debt You Can Settle – Only unsecured debt can be settled using the debt settlement method. This includes unsecured credit cards, medical bills, payday loans, and bounced checks. Secured debt such as a home or auto loan cannot be settled because the lender has the legal right to seize the property either the home or vehicle if payments are missed. This is why only unsecured debts can be settled using this method.

Tip #3 – Learn from the Process - When you are in the process of getting out of debt remember how you got to this point in your life. Typically it is from over spending, under saving, and not living within your means. Create a working budget that includes some mad money for yourself and spouse and money that is for savings. Work on creating an emergency fund of at least $1,000. This will be your safety net when something unexpected happens like needing a new set of tires or medical expense. You will not have to use a credit card to pay for it. Then start saving up a few months of living expenses just in case of job loss or other unforeseen circumstance. There are many helpful worksheets that can assist you in creating a budget.

So, as you can see, it is important to use these tips when using the debt settlement method to get out of debt.

And if you would like more information about debt settlement and a free chapter of our “Finacial Solutions” Workbook along with three worksheets just go to http://www.remfinancialsolutions.com and sign up for our free newsletter. You will also receive helpful budgeting tips along with money saving ideas.

By: Mark Erickson – Financial Advisor with REM Financial Solutions

Arizona Debt Settlement – 3 Most Popular Debt Settlement FAQ’s Regarding Debt

Do you know the three most popular debt settlement frequently asked questions regarding debt? If not, read on to get your questions answered.

Many people have a variety of questions about debt settlement. It is very important to get all your questions answered about debt settlement before you consider this method for eliminating your debt. Below are three of the most popular debt settlement questions that are asked regarding debt.

FAQ #1 - When considering debt settlement, what type of debt can be settled using this method?

Answer – The type of debt that can be settled using debt settlement are unsecured credit cards, medical bills, payday loans, personal loans, store cards, and bounced checks. Sometimes student loans can be negotiated and settled if they are not issued by the Federal Government. Most unsecured debt can be settled using debt settlement.

FAQ #2 – In debt settlement, most unsecured debt can be settled, but what makes a debt unsecured?

Answer – Unsecured debt is a debt that has not been attached to something in case of default. Meaning you do not have a lien against something of collateral to secure the debt in the event of non-payment.

FAQ #3 – What classifies a debt as being secure?

Answer – A secured debt is a debt that has some of value attached to it. For example, a house loan is an example of a secured debt because if you default on payments on your home the bank or lending company has the right to take the house and property back in exchange for your non-payment. The reason secured debt can not be used in debt settlement is because the company that loaned you the money has a binding contract to take some of value back from you if you fail to make the payments that were scheduled.

And if you would like more information about debt settlement and a free chapter of our “Finacial Solutions” Workbook along with three worksheets just go to http://www.remfinancialsolutions.com/ and sign up for our free newsletter. You will also receive helpful budgeting tips along with money saving ideas.

By: Mark Erickson – Financial Advisor with REM Financial Solutions