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Top Freedom Debt Management News – April 2, 2010

Freedom Debt Management — Fri, 02 Apr 2010 21:14:13 +0000

Debt Settlement Choose Better Debt Settlement | Better Information …

April 2, 2010

This post via the Freedom Debt Management blog, an educational resource to help you gain control of your debt management and finances.

Top Freedom Debt Management News – April 2, 2010

How to Eliminate Credit Card Debt

Freedom Debt Management — Tue, 09 Jun 2009 16:24:25 +0000

How to eliminate credit card is really dependent on the amount you owe and your cash flow.

If you have been consistently making your payments on time, and continue to have the cash flow to support the payments, then this simple strategy will help tremendously.

Step 1

Make a list of all your debts, including: who is owed, balance, interest rate, minimum payment required.

Step 2
Evaluate your cash flow. How much do you have to put toward your debt load each month. Look at your income, less your usual expense (mortgage or rent, utilities, discretionary, savings).

Step 3

Take the amount you have to pay towards your debt each month, and apply the minimum monthly payment against each debt. Then, take the additional amount you have left, and apply it to the credit card with the highest rate first until this debt is paid off. Once you have paid off your first debt, then take the freed up cash flow, and apply it all to your next highest interest rate debt.

Now, if you have credit card debt and mortgage debt, do not apply extra payments towards your mortgage until all credit card debt is paid. Mortgage debt is still currently tax deductible, and consumer debt is not, so the net interest rate you are paying on your mortgage is actually less than the actual interest rate because of the benefits of the tax deduction.

This post via the Freedom Debt Management blog, an educational resource to help you gain control of your debt management and finances.

How to Eliminate Credit Card Debt

Welcome to Freedom Debt Management Help

Freedom Debt Management — Tue, 14 Apr 2009 21:10:38 +0000

Times are tough for almost everyone in today’s economy. I have worked with may people over the years as a financial advisor, helping clients set financial goals, review their current situation, then put an action plan in place to achieve these goals. But with today’s economy, there are so many people that are just trying to keep their head above water. I have found that so many people have simply gotten in over their heads financially and are struggling to get out. The purpose of this blog is to provide resources and education on how to take control of your debt and move forward with your over all financial health.

Times are stressful enough. What creates the biggest problems in managing debt is when you sweep it under the rug and hope it just goes away. Avoiding problems is NEVER the solution. Defining reality, understanding what your situation looks like in detail, and knowing how you got into this position is the beginning of taking control. I don’t guarantee many things, but I will guarantee that by taking control and doing something will reduce the stress and taking action will help you over come these challenging times.

I hope you find this information helpful.

This post via the Freedom Debt Management blog, an educational resource to help you gain control of your debt management and finances.

Welcome to Freedom Debt Management Help