How to Manage your Debt with Ten Good Moves of Debt Consolidation

M p dunleary on MSN money, writes about three worst debt consolidation moves. But on the contrary, by examining the brighter side of debt consolidation i bring to you 10 top positive debt consolidation.

Examine your habit when it comes to spending and pick leaks

Not quite long FMF wrote about "budget Leaks". Honestly to be free from debt you have to control your emotions and desires, to the bearest minimum you should cut down on your bank statements and credit card for expenses such as from banks and other credit unions.

a. Regular visit to fast food resturants anf coffee shop

b. Subscribing for magazine, website or services with killing recurring fees unless you make use of them

c. Atm visit fee of about $2.5 they count

Liquidate the Closets

To get out of debt you need money. So taking the advantage of selling items that you seldom use in the house such as old gadgets, toys, clothings, shoes and bags can payoff in real time many of the credit cards used to procure them in the first place.

Balance transfer high debts

If you want to reduce your monthly charges then consolidate debt on low interest card through balance transfer and interest rate review as most of issuers of credit card may reduce their credit lines without notifying you in an attempt to reduce their risk during a recession.

Student Loan Consolidation

Debt relief programmes can be granted to some graduates who consolidate eligible loans with the department of Education.

Personal Loan

If you have a good beacon score which determine your credit rating, then you can qualify for unsecure loan

Check your credit report

Lenders, Landlords, insurers and employers rely on it for information about you. If your credit report contains error or misleading information about you, subsequently you may be denied credit.

Mortgage Refinancing
If you took and adjustable rate mortgage ( ARM ) when the rates were very low, interest rate on this type of mortgage fluntuates and have been on the rise contributing to a variety of fiscal problems and as well as rising number of foreclosures. Refinancing and locking in a lower fixed rate of interest may be the right strategy if you have started feeling the pinch of higher interest rate.

Auto Refinancing

Refinance your auto loans and payoff as quick as possible to reduce monthly payment and shorten the pay back period of about 5 – 7 years.

Seek professional Debt Counseling

You can seek the service of pfoessional debt consolidation counselor who through his expertise will help you manage your financial situation.They are available on weekdays, weekends and evenings and are very versed on areas which include but not limted to consumer credit, budgeting, credit card debt consolidation and money and debt management.

Renegotiate Credit Cards