Week 33: Are Balance Transfers and Debt Consolidation Right for You?

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You are reading Week 33 of 52 Weeks to Eliminate Debt & Curb Spending. Please read the overview here to learn more about the series & get your FREE financial planner. If you just joined us, please start with week 1.

If your debt situation seems to be at a stand still, you may be wondering if balance transfers and debt consolidation could potentially help you overcome a plateau. There are many options when it comes to eliminating debt from your life. As we have journeyed through this year, balance transfers one topic we want to include as it can be a great option.

When working toward getting rid of debt, with almost any choice you make the numbers are the important factor. Look not only at immediate numbers, but at your overall goals as well.

Will the balance transfer result in lower interest or lower payments? Ultimately the goal behind initiating a balance transfer or debt consolidation is to make your financial situation better. Look at your options and make sure that the balance transfer will come with a lower overall interest rate as well as more reasonable payments for you each month. You still want to maintain the goal of paying more than your minimum payment, but if you are currently struggling with that, this might help the situation become easier until you get in a better income place.

Do your research to see what card is best for you.  Also, keep in mind that you may be getting a great rate with the balance transfer but if you miss a payment, you’re interest rate could skyrocket.   Ensure you’re in the right place financially to make your payments on time.

Remember – You are not transferring the balance to a new credit card, just to add more debt to the card that now has a zero balance!!!!

Don’t close accounts after the balance is clear. You see that zero balance and instantly get the desire to close the account so you can no longer use it or have any additional debt. This however, is not a good decision. An account in good standing that shows a paid balance is good for your credit score. Leave the account open and stop using the account.  Alternatively, put one of two purchases on the card that can be paid off each month to keep the account “active”.

If having the account is too tempting, cut up the credit card.  Out of site, is (usually) out of mind.

Avoid using consolidation companies. There are many companies out there that promise to consolidate your debt for you. Avoid these and work with individual creditors instead. Not only will a company charge a fee (more debt), you will typically not get as good a rate, payment or deal as you can when handling this for yourself.  Look back at our how to negotiate with creditors article from a few months ago.

As you focus harder on paying down debt, don’t let balance transfers or debt consolidations frighten you. While they are not always recommended, they do have their place in the world of getting rid of debt. This is a great way to make sure you can manage your monthly payments with ease.

Week 33 Challenge:

If you are in a situation where credit card balance transfer is right for you, start looking into your options and crunching numbers.   This may be a good way to help pay off the last of your debt even faster.

Balance-Transfers-and-Debt-Consolidation

Disclosure: I am not a financial adviser nor do I have formal financial training. All articles are for informational purposes only and should not be interpreted as financial advice or consultation. Please consult your account and/or financial adviser before making changes to your finances. All situations are different, so please consult a professional to determine your individual needs.

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Week 32: Gardening as Debt Relief

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As a child many of us stood by our grandparents as they pulled weeds in a backyard vegetable garden. Gardening as debt relief isn’t far off point. In fact, it can be an excellent way to save money in your household budget, and for some can even offer an extra source of income. There are so many ways that growing a vegetable or fruit garden is beneficial to your finances. This week we will look at some of these reasons and encourage you to consider even small container garden as an investment.

Gardening as debt relief

Home grown produce is good for consumption now and in future months. You can easily grow exceptionally large crops of produce that can provide your family with food both now, and in the future. Canning produce has been common for centuries, but you can easily invest in a vacuum food saver method of storing fresh foods in the freezer. Flash freezing fresh vegetables in air tight packages can keep them delicious for up to a year in your freezer. This provides your family with much needed vegetables year round at very little cost outside your effort and the storage supplies.

Home grown produce gives you ample opportunities to make money. If you have a local farmers market, you can easily make a nice amount of money on the weekends selling your excess produce. With reasonable prices and quality foods, you can make back your investment plus easily hundreds more. Organically grown vegetables are much more sought after in this day and time. If you can use natural fertilizer and remain pesticide free in your growth process you will get even more paying customers.

Home grown produce has little investment with high rate of return. For less than $50 you can have a great starter garden setup. This $50 investment can yield you easily $500 in vegetables. That is a huge savings for your grocery budget, and you have the knowledge of exactly what was used on the food and how it was handled in the process.

While we often forget about the benefits, gardening truly is an excellent form of debt relief. Simple container gardens, raised bed gardens or elaborate backyard gardens that take up an acre of land are all great ways to feed your family as well as make some extra money on the side.

Week 32 Challenge:

Look around your yard and see where you can plant a garden.  Even a few tomato plants in containers on your patio can save money.

Gardening-as-Debt-Relief

Disclosure: I am not a financial adviser nor do I have formal financial training. All articles are for informational purposes only and should not be interpreted as financial advice or consultation. Please consult your account and/or financial adviser before making changes to your finances. All situations are different, so please consult a professional to determine your individual needs.

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Week 31: Saving On Education Expenses

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It is my belief that education is a huge part of getting out of debt and remaining debt free. Saving On Education Expenses can be crucial to your success. Not only do we believe your education about debt and finances is imperative, we also believe your own literal education in school, college and universities is important. This week we are going to look at some specific education related expenses and how you can save money on them while providing yourself and your children with the much needed education they deserve.

Get good grades. Nothing is more important than getting good grades. As you look to get scholarships that could potentially pay for further education, this is very important. Whether it is your child in school now, or yourself looking to get more education, great grades and test scores will help make that happen. Education isn’t just about being in the classroom, but about learning and succeeding in and outside that setting.

Shop for used equipment and books. Never pay full price when you don’t have to. Shop resale shops and swap shops for used sports equipment for your kids. Shop online on Amazon and at Campus Book Rentals for low cost books and instruction manuals for various classes and needs. Used will save tons of money, plus it gives you the option to sell it back later for part of the original cost.

Offer to tutor other students. One of the best ways to make extra money and even get brownie points with your professors and fellow students is to offer to be a tutor in subjects you excel at. Offer to tutor other students to make back part of your tuition expenses, or as part of a work study that pays for our tuition expenses.

Shop sales for school supplies. We have already mentioned this year how important shopping sales and using coupons can be, and this is one more instance to take advantage of both. Rarely is there ever a need to pay full price for any school supplies or even school clothing.  Keep up on all the back to school sales to save on everything from crayons, to notebooks to calculators.

Saving on education expenses is just another way to ensure you are providing your family the future they deserve. A quality education can be expensive, but it doesn’t have to put you into debt. Working hard and being diligent in your education and savings plans can make this a reality.

Week 31 Challenge:

It’s never to early to think about savings money on education.  Even purchasing supplies and books for Kindergarteners can get expensive.  Be thrifty when it comes to education expenses.  Don’t rush out and pay full price.  Research your options and watch for sales.

How to Save money on Education Expenses

Disclosure: I am not a financial adviser nor do I have formal financial training. All articles are for informational purposes only and should not be interpreted as financial advice or consultation. Please consult your account and/or financial adviser before making changes to your finances. All situations are different, so please consult a professional to determine your individual needs.

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Week 30: Tips to Embrace a Simpler Lifestyle

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Ultimately as you work toward getting out of debt, you are going to have to Embrace A Simpler Lifestyle. If you are here and following our series, then you are most likely already in a place that needs help financially. With extra debt weighing you down, it can become difficult to function. Working harder to simplify your life and create more room in your budget is important not only for paying off debt, but for remaining debt free.

This doesn’t mean you can’t enjoy any of the luxuries in life. It means that you will focus more on meaningful experiences instead of meaningful possessions. Let go of the things that could draw you in and suck money from you. This week we get serious about the mentality of a simpler lifestyle that will free up money and help you connect to things of valuable.

Don’t look at brand names, but at quality and usefulness. This goes for everything from your smart phone to the clothing you buy. We often get caught up in the, “best brand on the market”, but forget all bout the fact that it may actually not be the best as much as the most known brand.

In everything you choose to buy, look at how useful and functional it will be and less at how popular that item may be. Kids simply do not need a pair of shoes that cost $100 for sitting at a desk in school all day long. Expensive clothing and shoes for children is generally a waste of money when they will grow far quicker than they will use the item.   Adults should consider the quality of an item and how long it will last.

Before making a purchase, ask yourself how long you will wear an item.  Will it go out of style quickly?  Will the fabric fade after just a few washes?  Is it just for special occasions or could you wear it daily?   Make the most out of each and every purchase.  Spend wisely. Don’t make purchases just because it’s the brand everyone else is wearing.

Create home cooked meals. Take out and convenience food have become the standard. Instead of going out to eat as a special treat, get in the kitchen and prepare a real home cooked family dinner. Your budget and your family will thank you for the effort. A steak dinner at home for a family of four can cost as little as $20, but in a restaurant could cost upwards of $100. Which is a better choice?

Walk more and drive less. Remember the days when not every family had a car? Neither do I, but I know it was a fact. The truth is not only would our budgets be healthier, our bodies would be too if only we took up this habit again. If you live in the city you can easily put your shoes on and walk to the store a few blocks away instead of driving. You can even take advantage of public transportation to save on expenses in some areas.

Focus on conversation instead of entertainment. How often do our date nights or family nights involve sitting in front of a movie or television show for entertainment? Embrace a simpler lifestyle simply by making conversation or a family project mandatory. Focus on getting to know each other instead of getting to know the latest movie star.

This year as you work toward getting out of debt, focus on how you can create long lasting changes that will stay with you in years to come. Getting rid of debt isn’t always about how much more money you are making, as much as it is embracing a simpler lifestyle and way of living.

Week 30 Challenge:

How can you live a more simple life?  Talk with your family about ways you can cut out the unnecessary.  Cook together, take walks together, talk more.  Enjoy being a family without all the distractions of the 21st century.

Embrace-a-Simpler-Lifestyle

Disclosure: I am not a financial adviser nor do I have formal financial training. All articles are for informational purposes only and should not be interpreted as financial advice or consultation. Please consult your account and/or financial adviser before making changes to your finances. All situations are different, so please consult a professional to determine your individual needs.

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Week 29: Practical Ways to Teach Your Kids Healthy Money Habits

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Use you’re experiences and mistakes with budgeting to teach your kids healthy money habits. One important thing for kids to learn from your mistakes is that debt isn’t something they want to have. This week we are going to look at some practical ways to teach your kids healthy money habits.

Practical Ways to Teach Your Kids Healthy Money Habits:

1. Encourage them to save. Whether they receive an allowance, have birthday money or have a part time job, it is your job to encourage them to save their money. If you are at all in control of the money they receive (allowance), make savings mandatory.

Go with them to your local bank and open a simple savings account that allows them access to their money as needed, but also encourages them to put money away for the future. Some banks even off incentives for kids to open accounts.  Out of sight often does mean out of mind. An actual savings account makes that much easier for children to manage.

2. Get them involved in family budgeting. Each month as you sit down to go over your own household budget, encourage your children to participate. Let them in on the inner dynamics of how your household runs, what it takes to pay for things like rent, insurances and food. Let them help make decisions, or look over the numbers and add or subtract to verify your calculations. Getting them involved teaches them healthy budgeting habits for future use.

Obviously, kids do need to be protected from certain aspects of your financial situation.  While kids do need to realize there isn’t money for all their wants, you don’t want them thinking they can’t eat when their hungry because you need to save money.  As parents know, kids something don’t fully grasp what is going on.  Make your budget talks age appropriate.

3. Make them responsible for some expenses. For older children this is easier to encourage, but even youngsters with a small allowance can be held accountable for the way they spend their money. Things like buying gifts for friends birthdays, bus fare or even expenses related to extra curricular activities can all be items you require them to handle out of their own money.  This teaches them real life practical budgeting, and helps them understand the value of their money in a more practical fashion.

My kids know there are certain things we will buy and other things they need to save their own money to purchase.  If my son REALLY wants a new Nerf gun, he needs to save up his own money.  It’s interesting to see how a toy or game previously HAD TO HAVE, it’s really necessary when they have to shell out their own cash.

One idea to help kids understand money is Financial Peace Junior by Dave Ramsey. My kids have completed the course. They even enjoy using the give, save, and spend buckets to track their money.

As a parent, you don’t want your children to suffer from the same mistakes you have made. These practical ways to teach your kids healthy money habits will help them to stay on the road to financial freedom as adults.

Week 29 Challenge:

Sit down with your kids and discuss what debt is, when it can be necessary, like home-ownership, and when it should be avoided, like putting new clothes on the credit card when you really can’t afford them.  Teach kids that money really doesn’t grow on trees.  Let them know that you do have to pay for the things you swipe with your credit card. Have them use cash and watch you do the same.  Maybe let kids help add and subtract money in your cash envelopes for more hands on experience.

We live in a time when everyone expects instant gratification and believes they NEED the latest and greatest gadgets and toys to be happy.  Help kids understand the value of a dollar and what it means to work and save for the things they want.  They will thank you later.

*Here is an interesting article on CNN.

Teach-Your-Kids-Healthy-Money-Habits

Disclosure: I am not a financial adviser nor do I have formal financial training. All articles are for informational purposes only and should not be interpreted as financial advice or consultation. Please consult your account and/or financial adviser before making changes to your finances. All situations are different, so please consult a professional to determine your individual needs.

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Week 28: How to Vacation for Free or Cheap

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In all of our debt relief topics, you’ve probably wondered why we haven’t mentioned how to vacation for free or cheap. Reality is, this is a possibility. Sure, you expect thousands of dollars in debt to take your family on a vacation, but it isn’t necessarily true.

Vacations are what you make them, and they can be cheap or even free. As you work to get out of debt, it’s more than just paying down your credit card balances. It’s all about rethinking the way you look at any expense.

How to Vacation for Free or Cheap:

Save rewards points. If your credit is in good standing, just more than you would like, there are numerous credit cards that offer great rewards. Not only can you redeem points for miles with popular airlines, you may be able to redeem them for all inclusive resort vacations. Rewards points can be used to pay for all but a few expenses involved with great vacations.

I just used points from my Bank of America Travel Rewards card to get train tickets FREE!

Spend time with family. There is no shame in staying with your out of town parents for a week and considering that a vacation. If family or friends welcome you to their home, take advantage for a low cost and potentially free vacation.

Go to free entertainment. Stop thinking about vacations as being pricey theme park laden events. Focus instead on fun family friendly destinations with tons of free entertainment options.

You don’t even have to leave home for your vacation.  Have you ever heard of a staycation?  Play tourist in your own city.  You will be surprised at the number of free and cheap activities on the tourism website for your city.

St. Louis is a great location with literally tons of totally free things like kids museums and the zoo at no charge.  You can visit the Smithsonian museums in DC for free.  Hampton Roads locals might like my article, free and cheap things to do in Virginia Beach.

Whether you’re planning to stay home or travel, look for free activities.  Google and Pinterest are your friends when it comes to finding things to do in your city.

Go camping. Cook out on the grill with food from your own pantry while you sleep in tents under the stars.  Go fishing, swimming, and hiking by day.  Camping can be totally free depending on where you set up camp.   You can also get low cost campground fees for a few nights at a nearby national parks.

While you are working on getting rid of debt, you must also learn to focus on free options to meet you families needs and desires. Giving up everything can create frustration and burnout that results in more debt later on. Knowing how to vacation for free or cheap can make a big difference in your family and their state of mind.

Week 28 Challenge:

If you’re like many people, you’re ready to take a summer vacation.  You may not be in a financial situation now for a cruise or trip to Europe, but you can still enjoy time off with your family.  Think outside the box by using credit card miles, staying with friends and family or choosing to stick close to home and enjoy some of the free activities your town has to offer.

vacation-for-cheap

Disclosure: I am not a financial adviser nor do I have formal financial training. All articles are for informational purposes only and should not be interpreted as financial advice or consultation. Please consult your account and/or financial adviser before making changes to your finances. All situations are different, so please consult a professional to determine your individual needs.

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Week 27: Downsizing Your Vehicles for Ultimate Savings

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Sometimes the things we have to give up to get rid of debt may be tough to let go, but the end result is worth it. One thing you can do is focus on downsizing your vehicles for ultimate savings. Many people can’t imagine not having their car, but reality is there are many ways you can downsize and change your transportation situation to create more funds to pay off debt.

Have two cars but only one person works outside the home? This one is is really tough for those who feel stifled without the ability to come and go as they please. Reality is, there are few times when a second vehicle is mandatory in a situation like this. Especially if you are making two car payments. If you own one vehicle, it is only a matter of extra insurance and maintenance. In that instance, you may not want to give up the car as much as limit using it as much as possible. Otherwise, it is time to look for a way to sell the extra car and save this expense each month.

Have an SUV? SUV’s are great for many things, but commuting to and from work is not one of them. If your general use car is an SUV, it may be time to actually look at trading in for a more reasonable car. Lower payments, lower insurance and lower gas prices and maintenance are much more important than the possibility of needing that larger vehicle the one or two times a year it’s SUV status comes in handy.

Admittedly, I have an SUV and love it to pieces.  I know letting it go may be hard and it may not be practical.  You have to make the choices that are best for you and your family.  I just want you to consider the possibility that you could free up a lot of extra money by having a smaller car.

Spending more on repairs than a new car payment would be? Sometimes we have one vehicle that is paid for, but it is always breaking down and the result is high repair and maintenance costs. Sometimes it is actually cheaper in the long run to invest in a newer car with a payment that is lower than your current monthly upkeep costs.  IF you do need to invest in a new vehicle – a new-to-you car is a great option.  Consider a used car that is in better condition than your current vehicle.

When you are looking at the big picture of getting rid of debt, you must consider things like downsizing your vehicles for ultimate savings. Look at the big picture and focus on the total numbers and not just on the immediate changes it would create.

Remember the change won’t be forever.  Once you get our of debt and have a comfortable savings account, you can start putting money away for a new or upgraded vehicle.

Week 27 Challenge:

Take a look at your vehicles and weight your options.  Would it be wise to downsize?  If not, hold tight and wait for week 28 when we discuss other money saving options.

downsize-your-vehicle

Disclosure: I am not a financial adviser nor do I have formal financial training. All articles are for informational purposes only and should not be interpreted as financial advice or consultation. Please consult your account and/or financial adviser before making changes to your finances. All situations are different, so please consult a professional to determine your individual needs.

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Week 26: Cancel Unnecessary Subscriptions – Don’t Miss These 6 Memberships

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When you are working to eliminate debt, you have to literally think about everything in your list of expenses. One quick way to create a few hundred dollars in your budget is to cancel unnecessary subscriptions. There are many things that we pay for each year and could easily live without. This week we are going to focus on going over some of the common subscriptions you can do without, and a few suggestions on alternatives.

 Don’t Forget to Cancel These 7 Memberships:

  • Cancel your gym membership. Instead of paying $20-$50 per month for a gym membership, invest in a few items to have at home to help you get in shape.   Walk, jog or ride bikes for cardio. Spend the $20-$50 you will save the first month on some simple hand weights and a workout DVD for strength training.– Small 5 – 10 lb hand weights are perfect for most workout routines.
    Jillian Michaels DVD’s are popular and inexpensive
    Kettlebells are all the rage right now and you can find many videos on youtube for free.
    — Read this article on 5 Easy Home Workout Routines Without Weights.
  • Cancel magazine subscriptions. Many magazines are available for free or discounted in an digital version. If not, head out to your local library to read your favorite magazines each month. You can also ask for magazine subscriptions for gifts from friends and close family when your birthday or the holidays arrive.If you subscribe to All You Magazine for the coupons – order or renew during the promotions!
  • Cancel online site subscriptions. Occasionally there are clubs and sites online that require a monthly or annual fee to participate in.  Some of these are for work or education like kids learning sites. Evaluate the ones that truly offer a benefit. If not, let them go.Even $5 a month adds up to $60 a year. With 4 or 5 subscriptions per month at that rate you have created $240 in income for the year. That is a utility bill, small car payment, insurance or a weekend getaway.  Don’t forget about the annual subscriptions that you forgot even existed!
  • Cancel auto-renewal policies on subscriptions. Sometimes you don’t think about your subscriptions because they auto-renew via your credit card once a year. Go through your subscriptions and cancel any that auto-renew, so you aren’t charged before you get a chance to cancel the service. Are you paying $4.95 per year for something you don’t even use?
  • Cancel monthly subscription box services.   There are monthly subscription box services for everything from kids toys to makeup. These little monthly expense of $10-$30 can add up quickly and create up to $1000 in expenses over the course of the year. Cancel these and look for lower cost alternatives in stores.
  • Cancel newspaper subscription. Yes, people do still buy newspapers. If you are only using them for the coupons on Sunday’s, then negotiate for a Sunday only service. If not, look into the digital version online. Most newspapers have a discount for digital subscriptions or even offer the paper online for free.

You could come up with over $1000 in money in under an hour just by choosing to cancel unnecessary subscriptions. This is a great plan to help you get rid of debt this year.

We were paying over $80 per month for a YMCA membership.  While I loved my Y, I couldn’t see spending the money when I could walk outside instead of on the treadmill and add $80 to my credit card debt.

Week 26 Challenge:

Go through all your monthly subscription expenses and see what you can let go.  Spend an hour on the phone or online cancelling subscriptions or auto-renewals.

subscriptions

Disclosure: I am not a financial adviser nor do I have formal financial training. All articles are for informational purposes only and should not be interpreted as financial advice or consultation. Please consult your account and/or financial adviser before making changes to your finances. All situations are different, so please consult a professional to determine your individual needs.

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Week 25: Are You Planning for Your Retirement?

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When we talk about getting rid of debt, we tend to forget that real debt resolution comes when you are also preparing and preventing an instance of debt coming back to haunt you.  Planning for your retirement should be a big part of your debt plan.  Just like savings accounts are not optional, neither is planning for the future.

We have talked about this before, but it is worth repeating. The things that cause debt are typically emergencies, medical crisis or poor spending habits. Planning for your retirement is going to protect you from emergencies and medical crisis that crop up in the future. While we realize you are here to get rid of debt, you also need to change the way you look at your income, expenses and financial situation.  You need to be in this for the long haul.

Social Security benefits are typically not enough to cover all expenses. Very rarely will your social security retirement check be enough to cover your average expenses and needs. Simply surviving until the age of retirement isn’t a guarantee for better income status. Many individuals are already living so closely within their means that shifting to a lower income can skyrocket them back into debt. While Medicare and supplements offer medical coverage, other emergencies and even long term care can crop up and create huge debt issues.

Take advantage of employee offered 401K or Roth IRA benefits plans. There is nothing easier than taking advantage of these options from your employer. The money is automatically deducted form your paycheck, and they often match up to a set amount contributed each year. Take advantage of this method of saving for your retirement for as long as possible.

Yes, paying off your current debt is very important. However, as you begin learning how to control your finances and the importance of funding your savings account, you will need to plan for your retirement.

While I advise getting rid of all debt, except the house, before starting to invest heavily in your retirement account.  Just know that retirement should be in the back of your mind.  You need to be prepared with proper retirement funds to offer protection in your Golden Age.  Forty years will go by faster than you think.

Week 25 Challenge:

Do you have a retirement account?  Does your employer match contributions?  Start investigating your options, so you are ready to dive in head first once your debt free.

retirement-saving

Disclosure: I am not a financial adviser nor do I have formal financial training. All articles are for informational purposes only and should not be interpreted as financial advice or consultation. Please consult your account and/or financial adviser before making changes to your finances. All situations are different, so please consult a professional to determine your individual needs.

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Week 24: Credit Card Settlement Facts – You Need to Know

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If you are currently facing large quantities of credit card debt, there may be a point when you want to make a settlement with your creditor. This week we are covering the basics of credit card settlement facts. This will help you to understand what a settlement is, and how it will affect you and your credit score in the long run.

In case you don’t already know, a credit card settlement is when you are able to pay a large percentage of the credit debt to clear your account and have the remaining balance forgiven by the creditor. If you have gotten behind on a debt and have received a letter from the collections department, it is very likely you have been offered a chance to make a settlement. You can also approach a creditor and ask for a settlement as well.

Settlements require 70% or more of debt be paid off. While on a rare occasion you can see a lower percentage accepted, typically the amount a creditor will require before they settle is 70% or more of the original debt owed. Usually they are figuring in you paying off the principal and they will be forgiving the interest and fees. This is not always the case, but should be understood so when you are negotiating you can understand why different creditors offer different things.

You have to pay taxes on the difference in original debt and amount paid. The amount that is forgiven by the creditor can be considered income by the IRS. Since it was not paid, but was forgiven, it is almost like it is considered a gift to you. You may have to account for this money on your income taxes and pay taxes on it.

Settlements do ding your credit report. While a settlement is better than having a civil judgment and garnishment places on your account, they will still be rated lower on your credit report. It will look good to potential creditors that you have paid off the debt, but the settlement will also ding you because it shows you did not fulfill your original obligation.

Settlements result in account closure. If you had hopes of getting that account back open to use later, a settlement will end that option for you. Account settlements almost always result in the account being closed completely.

When you are looking at the big picture of credit card debt and these credit card settlement facts, you will want to acknowledge that there are some times when it can be a great option for you. It can also be a bad option for some people. As with any major decision regarding your debt, make sure to crunch the numbers and look at all options before making a final decision.

Week 24 Challenge:

Read more about Credit Card Settlement facts before making any decisions and talk to a professional.

Credit-Card-Settlement-Facts---You-Need-to-Know

Disclosure: I am not a financial adviser nor do I have formal financial training. All articles are for informational purposes only and should not be interpreted as financial advice or consultation. Please consult your account and/or financial adviser before making changes to your finances. All situations are different, so please consult a professional to determine your individual needs.

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