You may be saying “Ya right”; Debt Elimination plan that works!

Yes; I am talking about Debt Elimination Plan can save your financial future and thousand in money. Nobody wants to be in debt. Debt basically occurs when the borrower is obliged to pay the creditor the principal amount and the interest. Regardless if you  can cope with your debt load or your income is no longer enough to make payments on time, it is time to seek a debt elimination plan in your life. There are a number of debt elimination plans or programs to help those who owe money, but are unable to repay it back.

What are the debt elimination plans available?
Getting out of debt requires a debt elimination plan, not a debt consolidation plan. The Debt Elimination Plan may include refinancing your mortgage (if you have one), debt consolidation, credit counseling, debt settlement, filing a proposal to creditor and file for bankruptcy as the last option. Choosing the right program will depend upon your specific debt situation and your financial resources.

Let us face it – if you have been making minimum payments on your debts for several years with no relief in sight, it is time to consider other options than making the minimum payment for life.

Let me explain. Making those minimum payments is the surest way to stay in debt. To move toward debt free living, you must change your financial habits, create and implement a debt elimination plan and stay committed to the plan.

What is a Debt Elimination Plan?

The debt elimination plan is a strategic plan that will be tailored to your needs with the goal of getting you out of debt. What is more, it will also keep you out of debt. The process begins by explicitly stating and capturing your financial goals. Based on these goals, an analysis of your income, expenses, debt load, mortgage, investments and insurance will take place. Next, a realistic budget is made, which will form the foundation for your Debt Elimination Plan.

How does a Debt Elimination Plan works?

For any Debt Elimination Plan to work you need to find a minimum $5 of savings per day in your budget. The plan will take you step-by-step how to apply the $5 per day to strategically eliminate your debt. If you can save more than $5 per day; you will accelerate your debt freedom time.

The debt elimination plan works on:

• Improving your cash flow
• accelerating the elimination of your debts
• Once you consumer debt free, accelerate your mortgage pay off schedule and then comfortably start saving for your retirement.

Soon, you will see your finances getting back in order. There are online tools to help you stay on track and put you on the sure path to debt freedom.

I now have three questions for you to think about:

• Are you ready to enjoy debt free living?
• Does the idea of being financially fit for life appeal to you?
• Would you like a personalized debt elimination plan that guarantees you become debt free in record time?

If you answered “yes” to even one of those questions, talk to us so we can personalize a debt elimination plan that guarantees you becoming debt in record time.

How to get out of debt is probably the dream of more than 65% of our planet earth?

Debt is probably the most dreaded word, with its ability to keep you constantly worried, with its ability to keep you constantly worried, especially if you are struggling to keep up with the minimum payments on your credit card and wondering how you will pay your essential bills on time. Naturally everyone wants to be financially healthy. Fortunately, there are a number of ways to get out of debt.

It takes a lot of discipline and commitment to get out of debt. Let’s get started with these tips:

Understand your debt

Begin by taking stock of what you owe and whom you owe., Track your medical expenses, credit card bills, vehicle loans and others and write the outstanding balances along with the interest rate and the minimum payment. Sort your debts by the highest interest rate you are being charged. Now you have your debt listed in priority order – and know what you have to eliminate to get out of debt.

Find the extra cash

You can’t get out of debt effectively  paying the minimum payments way. You need to free up some cash. Cut down on non-essential spending that you can do without. Some ways to do this are:

• Making a budget
• Cooking and eating at home rather than eating out
• Cutting down on certain expenses you can do without
• Using only cash to pay
• Watching the small ticket items, they eat lot of your needed cash
• Trying to raise some cash by selling some assets
• Getting a part-time job to add to your income, since every little helps

Now you have found the extra cash in your budget, make a plan to get out of debt

The next step is to formulate a plan to eliminate your debt. There are tools such as Qodicy SmartWallet to help you do this. Now, the most important thing in this plan is being faithful to it, to ensure that you see real results as you work on getting out of debt.

The plan is simple. Here are the steps you need to follow to get out of debt:

• Step 1: Take your new freed up cash and add to minimum payment of the card on your list. Pay that amount until that debt become zero, while you continue to pay minimum on your other debts
• Step 2: Once that debt is paid off, take that amount you used to pay off that debt and add it to the minimum payment of the next debt in line to be paid. Pay that amount until paid off, while you continue to pay minimum on your other debts
• Step 3: Repeat step 3 until your last debt is paid off. Congratulations! You succeed in your endeavor to get out of debt .

And now, here is a question for you.

Do you think the steps outlined above to get out of debt could work for you?

What is the single biggest hurdle you would like help with right now, to get out of debt now?

After you make a plan of action to get out of debt, monitor you progress strictly. A plan is only as effective as its implementation. If the idea of doing it overwhelms you, talk to us. We will help you get out of debt a reality. We will develop the plan, help you implement it and monitor it.

Click here if you want to know how to get out debt in record time?

Debt Consolidation works if you commit the improvement in cash flow to accelerate your debt!

If you are figuring out ways to reduce debt, chances are you have heard of debt consolidation. It is one of most popular debt management methods where multiple high interest debts are combined into a single loan with one affordable monthly payment. The idea here is to lower your interest rates to make your debt manageable and easier to pay.

But before you make the decision to consolidate your debts, it is important to know the advantages and disadvantages associated with it. On the plus side, if you have high interest loans, they can now be consolidated into a single debt. What are the other advantages?

• Reduces monies spent on interest
• Enables you to have one low monthly payment, versus many
• Decreases your monthly bill payments

Sounds great, doesn’t it? Before you consolidate your debt, let’s look at the disadvantages.

• Consolidation loans are a bandage. This type of loan does not solve long term financial problems.
• Debt consolidation makes it easier to accumulate more debt. With more money left over at the end of the month, many people start using their credit cards again and continue with poor spending habits.
• Debt consolidation costs more in the long term, even though the interest rates are lower. If the loan is taken over a thirty-five year period, one may end up spending more money than if each individual loan had been kept in place.
• Debt consolidation loans take longer to pay off.

How to make Debt Consolidation work for you?

Debt consolidation loans work well for individuals who stop relying on credit to pay the cost of monthly living expenses and develop a budget that they are able to manage. And who remain dedicated to educating themselves on the topic of money management, change their attitudes about money, and align behaviors accordingly.

Ultimately, it is all about putting your financial house in order and increasing your cash flow.

• Are you at your financial crossroads with no idea which way to turn?
• Have concerns about whether debt consolidation will work for you?

We can create the financial plan that guarantees your success with debt consolidation. Talk to us.

The most important thing to do when debt threatens to get out of hand, or if you are already overwhelmed and groaning under debt is to seek debt management advice before things go out of hand. If you asked “why”, let me give you three solid reasons:

• Those creditors will stop harassing you. No more annoying calls that make you feel hunted and hopeless, as your debt Management Company will renegotiate the terms of your debts.
• Lower interest rates on your loans making it easier for you and helping you save money.
• Better still, a single loan with an affordable monthly payment instead of multiple loans and the hassle of remembering all those due dates to make several payments.

Simply put, it is sensible to get debt management advice from an expert as it will help you become debt free.

Some debt is an integral part of our financial picture. As long there is a system in place to ensure that payments are made on their due dates, there is no problem. But when debts mount up and become unmanageable with no solution in sight, steps must be taken to get out of this situation. A reputable debt management expert can help tackle your debts by making a customized plan.

If, after consulting an expert, you decide to manage your debt on your own, there are several online debt management tools you can use. Do bear in mind the following once you decide to reduce your debts:

• Avoid taking additional loans
• Avoid using your credit cards as this will increase credit card debt
• Do not exceed your overdraft as this will add to your financial burden
• Do not rush into a debt consolidation loan
• If you are considering refinancing using your home equity, remember that you could lose your home if you default on repayment

The first thing a debt management consultant will advise you to do is to create a budget that helps you cut down on non-essential expenses to enable you save money to repay your debts. While there is no one-solution-fits-all, if you do have a number of payments you are struggling with, debt consolidation might be the answer. This helps you roll all your debts into a single debt. The debt management consultant negotiates with the various creditors on your behalf to reduce your interest rates and where applicable, even waive off a portion of your debt. An affordable monthly repayment plan is then made to enable you start clearing your debts. The entire plan is focused on helping you save money as you become debt free.

Are you struggling with debt and need advice? Take the first step. Ask for our debt free summary plan. You are also welcome to talk to us.

Where there is financial freedom, there is peace. Nothing equals the joy of debt free living where you do not have to face the tension of juggling your expenses and worrying about paying all those bills on time. Being informed that you have exceeded your overdraft, again, is not the best news in the world. Some amount of debt is inevitable and usually manageable, as in the case of your credit card bills, which must be paid by the due date. But when debt invades your life and grows out of control, the situation can look quite grim. What do you do?

Quit worrying

Yes. You heard that right. Stop worrying and take action. At Debt Free Living Ltd, we have made it our mission to help people live debt-free. All it takes is commitment. Depending on your specific situation and goals, we offer you a variety of options. Here is a quick overview of these:

Refinancing

If you have a few debts, we will renegotiate these to get better repayment terms. The goal is to lower the interest rates or payments so that it is more manageable and takes you closer to debt relief. Debt can also be refinanced with a home equity loan whose interest rate will be lower, but this means putting your home up for collateral.

Debt Negotiation

Our debt management plan includes debt negotiation where our expert counselors negotiate with your creditors to reduce the interest rate on the balance you owe them. A budget is then made to suit your current financial status so that you get out of debt as soon as possible.

Credit card debt consolidation

A debt consolidation program is geared at debt relief especially for those who pay multiple bills. Under the program all these bills are consolidated into one affordable monthly payment at a reduced rate of interest, taking you closer to a debt free life.

Credit counseling

With credit counseling, the counselor will analyze your debt and financial situation to make a plan and budget. Based on your spending habits and monthly income, a solution will be recommended to help you handle your debts.

Filing for bankruptcy

Bankruptcy is usually a last resort solution when none of the other solutions will work. It is a court action that frees you from all creditors and while that sounds rosy, it is important to bear in mind that it goes on your credit report for ten years, which means you will have no access to credit during this period.

Which of these is the right solution for you?
Ask for our debt free summary plan

Do not allow debt to ruin your life and your relationships. Where there is a problem, there is always a solution and we will help you become debt free with a personalized debt management program.

At Debt Free Living, our debt management program is customized based on your financial goals, income and expenses, liabilities and mortgage, your investments and insurance commitments. The financial plan we create for you will help you eliminate your debt, while you create wealth for your retirement.

Ready to become financially fit? Talk to us today.

No one starts its life intending to file a consumer proposal. People file a Consumer proposal for reasons beyond its control. A Consumer Proposal is not a bad thing. It used to be socially unacceptable, now it is the debtor legal right to file a consumer proposal as a way to get out of debts.

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