Top Articles to Help You Lead A Debt-Free Life

• Debt Consolidation: “Debt Consolidation” is one of the most commonly misunderstood and misinterpreted personal finance strategies that consumers inquire about all the time. While some view it as a method of taking on new loans, others see it as a debt relief alternative. It is more important than ever for inquisitive consumers to have a very strong understanding of exactly what debt consolidation entails, and the impacts it can have on personal finances.
• Debt Relief: Debt relief is defined as a partial or total forgiveness of debt. When the term is used by the government, it usually refers to the forgiveness of debt to underdeveloped countries. Recently, it has begun to refer to the millions of consumers who are overwhelmed with debt seeking financial relief from their unsecured debt.
• Credit Card Debt: Credit card debt is an example of unsecured consumer debt, accessed through credit cards. Debt results when a client of a credit card company purchases an item or service through the card system. Debt accumulates and increases via interest and penalties when the consumer does not pay the company for the money he or she has spent.
• Debt Settlement: Debt settlement programs use a third party to negotiate lower balances and interest rates on unsecured debt. This type of debt management plan helps provide consumers an alternative to bankruptcy while reducing your outstanding debt.
• Credit Counseling: There are a numerous options for consumers who want to start getting their finances under control after accumulating large amounts of debt, which could inevitably lead to credit problems further down the road. Consumers who are in control of most aspects of their finances, but still feel like they could use additional help managing their debt burden, could certainly benefit from the assistance of a consumer credit counseling service.
• How Do I Get Out of Debt?: Now that the national economy is beginning to recover and people are having a better time dealing with their personal finances, many consumers who found themselves sunk deep in debt over the last few years may be asking themselves the question, “How do I get out of debt?” Fortunately, there are a number of avenues consumers can take to get out of debt, each with benefits and drawbacks depending on how quickly people need to fix their financial problems.
• 10 Tips to Avoid the Debt Trap: Have you ever thought about why so many of the people you know are struggling with debt? Do you ever wonder why banks keep lending to certain individuals, even when they are falling behind on their payments? Did you know that debt problems are a leading cause of major societal problems, such as stress, divorce and alcoholism?
• Credit Management: Many consumers are finding themselves buried under a pile of mounting debt. With interest accumulating month after month in addition to late fees being charged, many consumers are finding it difficult to make just the minimum payments on their credit cards. Although this may seem like an endless battle, with a strict budget and some discipline there are credit management strategies and solutions that will allow consumers to reduce or even eliminate their debt.
• Credit Card Debt Reduction: In recent months, many Americans have made a greater effort to seek credit card debt reduction and reduce the balances they owe, but some may not know where to start. Fortunately, there are several options available for consumers thathave a financial goal to achieve credit card debt reduction.
• Credit problems: Paying down high levels of debt is one of the best ways to improve credit problems and increase one’s credit standing. But many people cannot do that so quickly, especially in this economy. About one-third of a credit score is based off of a credit utilization ratio, which is the total creditbalances divided by the total credit limits. A great target is to use no more than 30% of one’s available credit.

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The International Monetary Fund (IMF) has welcomed UAEs efforts to unwind the large fiscal stimulus undertaken in response to the 2009 crisis as appropriately focused.

In a new comment on the UAEs economy, executive directors at the IMF said the debt consolidation plans were on the right track, and that the gradual pace meant that the process was undergoing without undermining the economic recovery.

In addition, the comment said that IMF directors particularly welcomed the consolidation plans in Dubai, which will help improve the emirates debt sustainability in the face of contingent liabilities related to government-related entities (GRE) and the still weak real estate market.

These comments were made by the IMF in a media statement released after the conclusion of 2012 Article IV consultation with the UAE.

The recovery of the economy is continuing despite the uncertain global economic environment. High oil prices and increased production, strong growth in Asia, and the UAEs perceived safe haven status in the context of the regional turmoil contributed to an estimated real GDP growth of 4.9 per cent in 2011, the IMF said.

The Fund noted that a recovery in the countrys real estate sector remains lagging, but added that other non-oil sectors such as trade, tourism and logistics picked up. Despite the continued weakness of the construction and real estate sectors in the wake of the 2009 crisis, real non-hydrocarbon growth picked up to an estimated 2.7 per cent last year, supported by trade, logistics, and tourism, it noted.

For 2012, oil production is projected to be flat, whereas non-oil growth is expected to strengthen further to 3.5 per cent. Inflation remained low at 0.9 per cent in 2011, mainly due to a continuing decline in housing rents, and price pressures are expected to remain subdued this year, the IMF added.

The IMF also noted that the completion of the Dubai World debt restructuring was a positive factor for UAEs economic stability, but estimated that about $30 billion in GRE debt will be maturing this year, with significant amount of debt falling due in 2014-15.

Directors noted the progress made in restructuring and managing the debt of GREs, but stressed the need for further efforts to mitigate the fiscal risks posed by these entities. They cautioned that GREs are still faced with high refinancing needs and are reliant on foreign funding. In this context, directors encouraged further deleveraging and strengthening of impaired GRE balance sheets, increased transparency, and improvements in corporate governance at GREs.

The Fund also pointed out the low levels of private sector lending. Despite the accommodative monetary stance under the peg to the US dollar, lending to the private sector has remained sluggish as excess capacity in the real estate sector and the debt overhang still limit lending opportunities, it said in the report.

But it noted that banks in the country had emerged relatively stable despite a rise in non-performing loans. The banking sector has remained well-capitalized and profitable, despite a continued rise in non-performing loans and higher provisioning, it said.

Directors took note of the resilience of the banking sector grounded on ample liquidity and capital buffers. They nonetheless encouraged the authorities to continue monitoring closely the financial situation of individual banks and their ability to cope with adverse shocks. Directors emphasized the importance of shielding the banking system from taking further GRE-related risks, including by avoiding channeling bank funding to non-viable GREs, the report stated.

In this regard, they welcomed the recent introduction of aggregate lending limits to GREs. Directors also suggested further strengthening the governance framework for the financial sector. Looking forward, they encouraged the development of domestic debt markets, which would among other things support banks liquidity management in preparation for the introduction of the Basel III liquidity framework.

The IMFs executive directors welcomed the continued economic recovery and favorable near-term outlook, but noted downside risks from the uncertain global environment and regional geopolitical tensions. Going forward, directors encouraged the authorities to continue their efforts to sustain growth and diversify the economy, while maintaining macroeconomic and financial stability.

Directors agreed that a continued accommodative monetary stance under the peg to the US dollar would counteract fiscal tightening and support the economic recovery. They took note of the staff assessment that the exchange rate has remained broadly aligned with fundamentals, and agreed that the exchange rate peg continues to serve as an effective nominal anchor for the economy.

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DENVER (CBS4) Frank Horvath complained that his phone rings all the time; day, night, at home, his cell. The calls are unsolicited telemarketers, and he’s tired of it.

“For probably the last six months or so, I get these calls. It’s three, four, five times a week, long distance number from different area codes. It’s a robo-call that says if you’d like to lower your credit card rates,” Horvath told CBS4.

Judie Wass has the same problem, but different telemarketers. She gets calls two or three times a day from a company called Pacifictel, offering debt consolidation.

“It’s very, very upsetting because financially I’ve struggled and I’ve tried really hard to straighten it out and this just brings it all back, Wass said.

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Manila, May 15, 2012 (ACN Newswire via COMTEX) –
The Philippine government’s P323.4 billion Domestic Debt Consolidation Program won The Banker Magazine’s Deal of the Year 2012 for SSA (Sovereign, Supras and Agencies) Bonds category in Asia Pacific. The deal bested over 500 entries and only one winner was selected for each of the 10 categories across every region.

The deal is the sixth and historically the largest domestic debt exchange by the Republic of the Philippines. In the transaction, P292.5 billion worth of eligible bonds were swapped for new benchmark issues, which are due 2022 and 2031. The total issue size was P323.4 billion which was divided into a 10-year P67.6 billion-bond and a 20-year P255.8 billion-bond, with coupon rates of 6.375% for the 10-year and 8% for the 20-year bond.

The exchange program smoothened and extended the debt maturity profile of the Philippines by reducing the maturity hurdles from bonds that were due to mature in the next few years. Of the bonds that were swapped, 75% had maturities that were due between 2011 and 2017, and the program successfully reduced the near-term maturity hurdles. The deal also lengthened the average maturity of the portfolio of eligible bonds by 37.9% from 5.48 years to 7.56 years.

The deal has also paved the way for long-term financing in line with initiatives to promote public-private partnerships in infrastructure projects and has deepened the Philippine capital markets.

The entries were judged based on a wide range of criteria with a strong emphasis on the degree to which the objectives of deals were met as well as deal complexity, innovation, speed of execution and pricing performance.

First Metro Investment Corporation together with BPI Capital, Citicorp Capital Philippines and SB Capital and Investment Corporation were the joint deal managers for this transaction. Deal Coordinators were Development Bank of the Philippines and Land Bank of the Philippines.

After receiving the award from The Banker, First Metro Investment Corporation president Roberto Juanchito Dispo said, “This landmark deal did not only enable the government to reduce the bunching of debt maturities, giving more room in the use of its funds for necessary spending, it has also more importantly reaffirms the growing investor confidence in the Philippines.”

The Banker’s Deal of the Year recognizes the most impressive transactions in FIG capital raising, M&A, corporate bonds, SSA bonds, infrastructure and project finance, equities, loans, restructuring, Islamic finance and trade Finance. The Banker is a London based international financial affairs publication owned by The Financial Times Ltd.

About First Metro Investment Corporation

Founded in 1972, First Metro Investment Corporation is the investment banking arm of Metropolitan Bank and Trust Co. (Metrobank) – the Philippines’ largest financial conglomerate. With over 100 employees, First Metro provides investment banking services through its four strategic business units: Investment Banking, Treasury, Investment Advisory and Corporate Lending and the Regional Business Development Desk. First Metro holds the distinction of being the sole publicly listed investment house among the member institutions of the Investment House Association of the Philippines (IHAP) and has been ranked among the Top 11 Philippine Companies and among the Best ASEAN 100 Companies based on Relative Wealth Added Index by NY-Based management consulting firm, Stern Stewart & Co. In 2009, First Metro was awarded the Best Bond House in the Philippines by Finance Asia. In the last two years, it was also awarded the Best Bond House by The Asset Magazine of Hong Kong. For more information on First Metro, visit
www.firstmetro.com.ph
.

Source: First Metro Investment Corporation

Contact:

Anna Marie Tuprio
Corporate Planning & Affairs Department
Tel: +63-2-858-7951
E-mail: marie.tuprio@firstmetro.com.ph

Copyright (C) Japan Corporate News NetWork

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CALGARY, ALBERTA, May 15, 2012 (MARKETWIRE via COMTEX) –
Bankruptcy, debt consolidation and consumer proposals are complex
financial procedures that require delicate negotiations between
creditors and debtors. As such, they should not be attempted alone,
and the expertise of an independent Trustee is a necessity.

A Trustee is a licensed professional who is uniquely qualified to
assist debtors in filing bankruptcy or a consumer proposal in Canada.
They are highly trained professionals, having passed a rigorous
three-year bankruptcy and law course – as well as stringent RCMP
checks – and can also offer helpful advice about debt consolidation
and credit counseling.

You may need a Trustee if:

— You are having trouble making your regular payments on your debt.
— You’ve had a change in your circumstances and you know that you won’t be
able to maintain your debt load.
— Your debt is causing stress and anxiety in your life and you find
yourself overwhelmed by the burden of credit.
— Creditors have taken legal action to collect their money, including
issuing a wage garnishment.

When you meet with a Bankruptcy Trustee it is important that you feel
comfortable to ask them all the things you want to know about the
bankruptcy process - including any possibilities to avoid declaring
bankruptcy. Trustees are regulated by the federal government and must
adhere to a strict code of ethics: it is their job to give you the
information you need to make the best decision for yourself and your
family.

You may want to ask:

-- What about my income tax returns and tax credits?
-- What are the things I need to do during the bankruptcy process?
-- How does bankruptcy affect my credit rating?
-- What will happen to my home or my vehicle?
-- What will it cost for me to file for bankruptcy?
-- What is the difference between filing for bankruptcy and filing a
consumer proposal?

About MNP Ltd.

At MNP Ltd., we offer you a free initial consultation to discuss your
unique situation and the best solution available to you. Whether it
is a consumer proposal, bankruptcy, debt consolidation or simply a
second opinion that is needed, MNP Ltd. has the professional
expertise to help you resolve your financial problems.

Contacts:
MNP Ltd.

http://bankruptcy.mnpdebt.ca

SOURCE: MNP Ltd.

http://bankruptcy.mnpdebt.ca

Copyright 2012 Marketwire, Inc., All rights reserved.

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Tempe, AZ — (SBWIRE) — 04/28/2012 — According to statistics, the average amount of credit card debt in households that have this kind of debt is right around $16,000.

While this figure would be plenty for most people to pay back, the grim reality is that for many adults, this is just the tip of the debt iceberg. Some have car loans, others have medical bills, and many more have home equity loans.

Add these amounts up, and it’s easy to see why many households are paying hundreds, if not thousands of dollars a month just to make their minimum payments. Unfortunately, it’s also easy to understand why millions of people across the country are struggling to pay off their debts.

A website has been creating quite a buzz lately for helping people who have a lot of unsecured, high interest debt to combine the amount that they owe into cheaper consolidation loans.

AlliedConsolidationLoans.com, which just launched its newly redesigned website, recently celebrated its fifth anniversary. During that time, the friendly staff has helped many people who have found themselves feeling like they were drowning in bills to consolidate debt. The website also features educational articles filled with tips and advice on the best ways to use debt consolidation services.

For people who have multiple bills to pay each month, having all of the debts rolled into one large loan that typically features a much smaller payment can not only help them get on the road to a debt free life, but it can also offer them something that is priceless: peace of mind.

“Consolidation loans can be either secured or unsecured and are used to pay off your high interest unsecured debt and roll these up into one, cheaper loan,” an article on the website explained, adding that when people who are seeking debt relief inquire about consolidation loan services through AlliedConsolidationLoans.com, they will be asked to combine all of their current unsecured debts including credit cards and medical bills and enter it into a form on the home page.

“Our experts will then call you back and give you options that can help you get out of debt quickly and get back to a normal life.”

About AlliedConsolidationLoans.com
AlliedConsolidationLoans.com is a debt help and consolidation website that offers debt services to people who are struggling with their bills. For the past five years, the company has also offered consumers the latest news on debt and great articles on ways to best use debt consolidation services. Visitors to the website may enter in some basic information on the home page to be given a no-obligation quote on a debt consolidation plan. For more information, please visit http://alliedconsolidationloans.com/

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If you have been thinking about your debts and are looking for a way to reduce your debt, you may want to think about debt consolidation. Debt consolidation is a much better tool now than it was when it first came into the financial world. Debt consolidation may be your answer to financial stability and finally offer you a way to reduce your debt.

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UK consumers are falling into more and more debt, according to the latest figures released by money charity Credit Action.

If you have found yourself in debt as a result of spiralling inflation and a squeeze on finances, you can compare debt consolidation options with Money Expert.

Credit Action’s research found that average household debt – excluding mortgages – climbed for the second time, rising by £19 in March in a month on month comparison.

Despite the fact that February saw a fall in unsecured lending, this has done little to halt the upward trend in personal debt this year.

Prior to 2012 debt seemed to be a problem that was being successfully tackled by consumers in the UK, with figures for household debt falling each month since January 2010.

But as the UK enters a double dip recession households are struggling to make ends meet. Household debt without mortgages rose by £19 to £7,903, while the figure for average debt including mortgages rose by £52 to £55,436.

Outstanding personal debt was up from a figure of £1.451 trillion in March 2011, to £1.458 trillion in March this year – a figure that nearly matches the UK’s total economic output last year.

“Based on figures for the first three months of the year, it certainly seems as if the burden of consumer credit debt has started to increase,” said Michelle Highman, CEO of Credit Action.

“Whilst debt isnt necessarily a bad thing in itself, it can quickly become a very serious problem if youre unable to pay it back.”

The research also found that consumer borrowing rose by a marginal £10 compared to February, with £172 million of interest on personal debt paid every day in March.

“Its absolutely crucial for consumers to be on top of their money, particularly given the fact that were now in a double-dip recession,” added Ms Highman.

If you need support reducing the size of your personal debts you can compare debt consolidation options with Money Expert.

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NEW YORK, April 27, 2012 /PRNewswire via COMTEX/ –
Nationalrelief.com wants to make it easy for anyone to get the debt help they need. Filling out a simple form can get consumers connected to programs customized for their needs. The application is quick, easy and secure. Best of all, it is easy and comes with no obligation.

Consumers who are dealing with credit card debt should consider debt settlement over bankruptcy or a debt consolidation loan. Settling those credit card debts can save the average consumer 50 percent off their principal balances.

Failure to pay credit card bills on time can result in constant contact from creditors. Constant phone calls, letters and harassing messages are often reported by debtors. Consolidating debt through settlement or arbitration can end the creditor harassment. Debtors who use a debt relief service to settle their debts will no longer be contacted by creditors.

Instead, the creditors will be contacting the debt relief service directly. This can lift a heavy burden off those who are struggling with debt. Legal actions may also be halted once a debtor enters a credit relief program. The focus should be on repaying as much of the debt as possible as opposed to litigation.

Those who opt for a debt settlement program are not taking out a loan. Debt settlement is simply another way to consolidate multiple credit card payments into one monthly payment. Keeping track of one monthly payment is often much easier for most debtors. Organization typically leads to fewer missed payments.

Consolidating credit card payments will result in a faster debt payoff than other debt reduction methods at the lowest cost. Nearly all credit card companies raise interest rates to 30 percent after just one missed payment. Settling credit card debt can reduce that interest rate by 50 percent. Some consumers may see a savings of 60 percent on their interest charges.

Costs related to credit card relief programs should always be considered. Nationalrelief.com will only collect fees once an account has been satisfactorily settled. Companies who charge fees before services don’t offer consumers the best value. Don’t be fooled by another company who claims to be a non-profit in the hopes of luring in people who are down on their luck.

Contact:

National Debt Relief Group1-888-703-4948

http://www.nationalrelief.com

This press release was issued through eReleases(R). For more information, visit eReleases Press Release Distribution at
http://www.ereleases.com .

SOURCE National Debt Relief Group

Copyright (C) 2012 PR Newswire. All rights reserved

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Consumers who are weary of constantly getting #x201C;another day older and deeper in debt,#x201D; as Tennessee Ernie Ford once sang, can find themselves tempted to try desperate measures to get out of that cycle. Some of those measures can actually worsen a financial burden.

An abundance of credit repair, debt settlement, debt consolidation and even debt elimination companies are vying for your business these days. The Better Business Bureau cautions consumers to be careful in dealing with these companies.

The Federal Trade Commission warns that there is no magic wand. No one can remove accurate negative information from your credit report. Consumer reporting companies can keep accurate negative information on your credit report for seven years and bankruptcy information for 10 years.

That fact does not stop credit repair companies from making extravagant claims about raising your credit score. The truth is that for the cost of a few stamps the consumer can do the same thing that a credit repair company will charge for.

Look for these red flags when considering a credit repair company:

bull; The company wants money up front for its services. Under the Credit Repair Organizations Act of 1996, you cannot be required to pay until the promised services have been completed.

bull; The company does not tell you your rights and what you can do for yourself for free. You already have the right, for instance, to request an investigation of information in your file if you think it#x2019;s inaccurate.

bull; The company tells you they can get rid of negative information in your file even if it is accurate and current.

bull; The company advises you to apply for an Employer Identification Number to use instead of your Social Security number to invent a #x201C;new#x201D; identity. This is extremely dangerous and doing so could make you guilty of a federal crime.

Remember that you have three days to change your mind without incurring any charges after signing a contract with a credit repair company.

Debt consolidation companies offer to roll up assorted debts, allowing you to make one lower payment to the company itself. Tacked on fees and exorbitant interest rates can mean the consumer pays more in the long run. In cases where most of the money owed is to credit card debt, simply getting a debt consolidation loan from a credit union or bank at a lower interest rate could be advisable.

Debt negotiation/settlement companies say they will get your lenders to lower the total amount of debt owed for an upfront fee. Always beware of upfront fees. Some consumers find out later that the company never made the promised contact with the lender. Meanwhile, the payments that should have been made to the lender but were not have worsened the consumer#x2019;s situation. In addition, the debt negotiation company has taken your money.

Debt elimination companies have a million schemes, but they all rely on the notion that credit lines are illegal. For an upfront fee, of course, they provide the consumer with a #x201C;document#x201D; that supposedly absolves their debt. It does not, and your debt problem can thereby be worsened.

Stay in contact with lenders and try to work out a payment plan with them. Contact a nonprofit credit counseling agency, many of which are free or charge a small fee. Check out any debt management company with the Better Business Bureau for free. Remember the oft-repeated adage: if it sounds too good to be true, it is.

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