Helpful Resources

Reduce Unsecured Debt

Friday, July 30, 2010 03:00 AM

Many consumers across the country are struggling with their large monthly payment obligations, and are having difficulties even affording the necessities they require to live comfortably. Some are unable to continue to pay their bills on time and are falling behind on their payments for their unsecured debt.

For many consumers, the most difficult types of debt to keep current with are their unsecured debts, mainly their credit cards, medical obligations and personal loans. Unsecured debts are obligations that are not supported by collateral and typically have higher interest rates. Secured debt, on the other hand, is debt that is backed by an asset, such as a home or a car. With secured debt, a creditor can often repossess the collateral if a consumer fails to make payments, and hence the interest rates are lower.

Add a comment

Eliminating debt

Wednesday, July 28, 2010 03:00 AM

Many consumers may have found themselves deeply in debt over the last few years, as the economy sunk into a serious recession. A large number of Americans lost their jobs or had their hours cut back at work, forcing them to pay for more necessities on credit cards. Others may have found themselves with unforeseen debt due to hardships such as divorce or medical emergencies.

Whatever the reason, many people are looking for sensible ways of reducing and eventually eliminating debt. Fortunately for those struggling with unmanageable debt, there are a number of options available, each having their own benefits and drawbacks.

Add a comment

Credit Card Consolidation

Tuesday, July 27, 2010 03:00 AM

Consumers across the country have continued to take on an enormous level of credit card debt over the last few years, as so many Americans have struggled to make ends meet in light of the recession and lack of available jobs in the economy.

With so much debt, consumers often attempt to spread their important purchases across a number of creditor accounts to avoid approaching credit limits and higher interest payments. However, this recurring process can create additional problems, leaving already-strapped consumers with the challenge of juggling multiple accounts. The pressure of keeping track of and paying off several high credit card bills per month can easily spiral out of control.

Add a comment

Debt Consolidation Programs

Saturday, July 24, 2010 03:00 AM

Many consumers have found themselves up against significant amounts of debt spread across a handful of creditors over the last few years. They may have heard about debt consolidation programs that promise to consolidate debt and reduce monthly payments, while wondering how they work and whether they can deliver positive results. The good news is that many programs of this kind do deliver meaningful benefits, and what they accomplish is actually fairly simple.

Debt consolidation programs give qualified consumers a new loan that pays off several or all of their outstanding obligations. This new debt consolidation loan, by aggregating all of the individual debts and paying them off, often becomes the only loan that the consumer holds and makes payments to.

Add a comment

Consolidating Credit

Friday, July 23, 2010 03:00 AM

Over the past few years, many Americans may have fallen behind on their monthly payments for obligations such as credit cards, mortgages, or loans for their car or education. And that debt can grow higher with each passing month until it begins to seem impossible to pay off. Fortunately for consumers, credit consolidation is a viable solution, especially for those who are reaching a breaking point and feel they are close to falling behind.

Consumers that owe money to a number of different lenders may consider consolidating their credit, which lumps the numerous loans they are carryinginto one new loan with one single monthly payment. Doing so can significantly reduce their monthly payments, as the new loan may have a lower interest rate and a longer duration than the individual loans.

Add a comment

Debt Settlement

Wednesday, July 14, 2010 03:00 AM

Many consumers across America are struggling to pay their bills. They may be deep in credit card debt, behind on medical bills, have other debts they simply can't pay, or even a combination of the three. If this is thecase, they may have heard about a debt settlement program on the TV or radio and wondered if it can help them.

The offer to get out of debt by paying pennies on the dollar might sound too good to be true, but in many cases it is not. Debt settlement is a safe, legal way for consumers to get out of debt quickly, particularly when working with a successful provider of services.

The benefits of debt settlement are straightforward: settlement companies can reduce debt by approximately 50 percent because professional negotiators work on behalf of consumers to negotiate with their lenders. The strategy typically reduces a consumer’s monthly payment substantially, and programs generally do not last longer than three to four years, so there is light at the end of the tunnel.

Add a comment

Credit cards and debt

Tuesday, July 06, 2010 02:40 PM

Managing credit isn't easy, but it's absolutely vital to good financial health.

It's never easy to manage credit, but regardless of a person's level of income, doing so is a required skill.

Credit affects many aspects of life, even things consumers may not consider. Beyond affecting things like loan eligibility and interest rates, it also determines whether a consumercan buy goods and services on credit.

Any consumer with a bad credit history can tell stories of how it got between them and the things they wanted. Employers have been known to turn down applicants they may have otherwise hired because of a bad credit history, and landlords certainly don't want to accept a tenant that has a history of trouble when it comes to paying monthly bills.

For consumers whose bad credit is the result of credit card debt, the problems are even more pronounced. Debt piles upon debt quickly and it can be overwhelming for anyone. The key is knowing where to start.

Add a comment

The Pros and Cons of Settling Debt Yourself

It's possible for a consumer to imitate the methods of professional debt settlement companies and many people report success in negotiating a debt settlement for themselves. Initiation of negotiations can begin by calling the customer service department of the credit card company. In general, the credit card company will only deal with a consumer when the consumer is behind on payments but capable of making a lump sum payment.

Add a comment

Introducing Debtmerica's Debt Options Calculator

Compare Your Options

There are many options when it comes to addressing your debt problems, and now you can compare them with Debtmerica's Interactive Debt Options Calculator.

Our easy to use debt options calculator, allows you to take a look at debt settlement and how it compares against other options such as credit counseling, debt consolidation or minimum payments. You're able to compare Total Cost, Monthly Payment, Months to Pay Off, Interest Paid, and Interest Rate for each option in one easy to read interface. You're also able to adjust your total debt and average interest rates to tailor our results to your situation.

Try out Debtmerica's Debt Options Calculator today and then speak with one of our professionally certified debt consultants to get started on your future free from debt!

Add a comment

How to Settle Your Debts On Your Own

A Step-By-Step Guide to Settle Debts On Your Own

If you cannot pay the minimum on your debts, it's time for you to settle your debts. Debt settlement is a way by which you can negotiate with creditors/collection agencies to reduce your debt amount by 40-60%. If you enroll in Debtmerica's Debt Resolution Program, professional debt consultants will guide you through the debt settlement process and our skilled negotiators will do their best to secure the lowest possible settlement. However, it is possible to tackle the debt settlement process on your own. This article will give you a step-by-step analysis on how to settle your debts yourself. Also, make sure to review our article "The Pros and Cons of Settling Debt Yourself".

Add a comment

Debt Elimination – Effective Money Management Techniques

Debt as a result of credit cards is the biggest financial concern for most households today. With the current state of the economy, many people who have never had financial difficulties are living from paycheck to paycheck. To become financially independent, debt elimination needs to be a priority. Most people feel overwhelmed and don’t know where to start, the first step for many is to acknowledge the debt. People who are unused to financial hardship are uncomfortable and embarrassed. They are tempted to ignore the issue and hope it goes away.

Add a comment

About Debtmerica

Debtmerica is a leading debt settlement company that offers assistance to individuals and families who are experiencing financial difficulties and hardship.

We specialize in negotiated debt settlement to assist clients by reducing debt balances while providing an affordable monthly payment.

Our professional and knowledgeable staff has helped thousands of consumers get back on their feet financially.