Coping with Debt Consumer Information. Having trouble paying your bills Getting dunning notices from creditors Are your accounts being turned over to debt collectors Are you worried about losing your home or your car Youre not alone. Many people face a financial crisis at some point in their lives. Whether the crisis is caused by personal or family illness, the loss of a job, or overspending, it can seem overwhelming. But often, it can be overcome. Your financial situation doesnt have to go from bad to worse. If you or someone you know is in financial hot water, consider these options self help using realistic budgeting and other techniques debt relief services, like credit counseling or debt settlement from a reputable organization debt consolidation or bankruptcy. How do you know which will work best for you It depends on your level of debt, your level of discipline, and your prospects for the future. Self Help. Developing a Budget. The first step toward taking control of your financial situation is to do a realistic assessment of how much money you take in and how much money you spend. Start by listing your income from all sources. Then, list your fixed expenses those that are the same each month like mortgage payments or rent, car payments, and insurance premiums. Next, list the expenses that vary like groceries, entertainment, and clothing. Writing down all your expenses, even those that seem insignificant, is a helpful way to track your spending patterns, identify necessary expenses, and prioritize the rest. The goal is to make sure you can make ends meet on the basics housing, food, health care, insurance, and education. Best Nonprofit Credit and Debt Consolidation Programs. Is bill consolidation through a debt management program free No. All debt consolidation help comes at a price. Americas 1 leader in debt relief and solutions programs. Weve helped our customers resolve over 7 billion with our debt management program. Click here. Best Alabama Debt Relief, Settlement Consolidation Company. Live in Alabama Debt Relief is at your Fingertips, Call GoldenFS. Now A debt consolidation program is different from a loan. Youll pay off debts in three to five years without taking on additional debt. And confirm they are licensed to do business in Alabama. No Alabama debt settlement. AL. about debt consolidation in AL. Debt Consolidation Birmingham AL. Alabama to register for a debt management program. Your debt specialist will negotiate more favorable annual percentage rates. Know all your Birmingham debt consolidation options before selecting a service. Get advice on debt consolidation loans, companies programs in AL. Debt Consolidation and Debt Solutions programs can help reduce your monthly debt payments by consolidating them into one smaller payment. Learn about our Debt. Debt Consolidation Programs Non ProfitYou can find information about budgeting and money management techniques online, at your public library, and in bookstores. Blow Off Valve Installation Instructions Audi A4. Computer software programs can be useful tools for developing and maintaining a budget, balancing your checkbook, and creating plans to save money and pay down your debt. Contacting Your Creditors. Contact your creditors immediately if youre having trouble making ends meet. Tell them why its difficult for you, and try to work out a modified payment plan that reduces your payments to a more manageable level. Dont wait until your accounts have been turned over to a debt collector. At that point, your creditors have given up on you. Dealing with Debt Collectors. Federal law dictates how and when a debt collector may contact you not before 8 a. Collectors may not harass you, lie, or use unfair practices when they try to collect a debt. And they must honor a written request from you to stop further contact. Managing Your Auto and Home Loans. Your debts can be unsecured or secured. Secured debts usually are tied to an asset, like your car for a car loan, or your house for a mortgage. If you stop making payments, lenders can repossess your car or foreclose on your house. Unsecured debts are not tied to any particular asset, and include most credit card debt, bills for medical care, and signature loans. Most automobile financing agreements allow a creditor to repossess your car any time youre in default. No notice is required. If your car is repossessed, you may have to pay the balance due on the loan, as well as towing and storage costs, to get it back. If you cant do this, the creditor may sell the car. If you see default approaching, you may be better off selling the car yourself and paying off the debt Youll avoid the added costs of repossession and a negative entry on your credit report. If you fall behind on your mortgage, contact your lender immediately to avoid foreclosure. Most lenders are willing to work with you if they believe youre acting in good faith and the situation is temporary. Some lenders may reduce or suspend your payments for a short time. When you resume regular payments, though, you may have to pay an additional amount toward the past due total. Other lenders may agree to change the terms of the mortgage by extending the repayment period to reduce the monthly debt. Ask whether additional fees would be assessed for these changes, and calculate how much they total in the long term. If you and your lender cant work out a plan, contact a housing counseling agency. Some agencies limit their counseling services to homeowners with FHA mortgages, but many offer free help to any homeowner whos having trouble making mortgage payments. Sonic 3 And Knuckles Game Genie Level Select here. Call the local office of the Department of Housing and Urban Development or the housing authority in your state, city, or county for help in finding a legitimate housing counseling agency near you. Wave Solder Pot Manual'>Wave Solder Pot Manual. Debt Relief Services. Debt-Consolidation-Featured-Image-1.png' alt='Free Government Debt Consolidation Programs' title='Free Government Debt Consolidation Programs' />If youre struggling with significant credit card debt, and cant work out a repayment plan with your creditors on your own, consider contacting a debt relief service like credit counseling or debt settlement. Depending on the type of service, you might get advice on how to deal with your mounting bills or create a plan for repaying your creditors. Before you do business with any debt relief service, check it out with your state Attorney General and local consumer protection agency. They can tell you if any consumer complaints are on file about the firm youre considering doing business with. Ask your state Attorney General if the company is required to be licensed to work in your state and, if so, whether it is. If youre thinking about getting help to stabilize your financial situation, do some homework first. Find out what services a business provides, how much it costs, and how long it may take to get the results they promised. Dont rely on verbal promises. Get everything in writing, and read your contracts carefully. Credit Counseling. Reputable credit counseling organizations can advise you on managing your money and debts, help you develop a budget, and offer free educational materials and workshops. Their counselors are certified and trained in consumer credit, money and debt management, and budgeting. Counselors discuss your entire financial situation with you, and help you develop a personalized plan to solve your money problems. An initial counseling session typically lasts an hour, with an offer of follow up sessions. Most reputable credit counselors are non profits and offer services through local offices, online, or on the phone. If possible, find an organization that offers in person counseling. Many universities, military bases, credit unions, housing authorities, and branches of the U. S. Cooperative Extension Service operate non profit credit counseling programs. Your financial institution, local consumer protection agency, and friends and family also may be good sources of information and referrals. But be aware that non profit status doesnt guarantee that services are free, affordable, or even legitimate. In fact, some credit counseling organizations charge high fees, which they may hide, or urge their clients to make voluntary contributions that can cause more debt. Debt Management Plans. If your financial problems stem from too much debt or your inability to repay your debts, a credit counseling agency may recommend that you enroll in a debt management plan DMP. A DMP alone is not credit counseling, and DMPs are not for everyone. Dont sign up for one of these plans unless and until a certified credit counselor has spent time thoroughly reviewing your financial situation, and has offered you customized advice on managing your money.