Thursday, January 29, 2009

It is quite shocking to know that since September 2008, more than 400,000 employees were laid off because of the recession. The recession is a worldwide problem and many lives are affected. In line with the recession is the seemingly escalating debts of consumers. More debts. Less jobs. Disaster. Personally, I also need to put my act together regarding my debts. Admitting that one is in dire financial slump or realizing you are having problems paying off what you owe is the very first step to get out of debt.

In 2008, the US congress has put aside quite a large amount to help middle class homeowners with loan modification programs. You need to know your total monthly income and expenses so you could have a clear picture of how much is left for you to pay your loan. You can negotiate with your lender on a new payment scheme for your loan.

You can also negotiate for a debt settlement. Your creditors would prefer that you settle your debts with them than you not paying at all. A debt settlement would let you pay less every month. You will be paying less every month and owe less money then finally pay off all your debts sooner. There are ways and means to settle your personal debts. Check out www.billconsolidation.net.
Reactions:
Posted by desperateblogger On 1/29/2009 05:28:00 PM 2 comments

2 comments:

  1. When you are in deep debts debt settlement is a good option to go for, your debt levels get reduced as the debt settlement company negotiates with your creditors. I took help of Freedom Debt Relief and their service was good.

    ReplyDelete
  2. There are debt consolidation organizations out there who can give you debt relief assistance free of charge. These organizations receive grants from the government so they can offer their valuable services to you for
    Debt Free

    ReplyDelete

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