• Must-Dos for Anyone with a Debt Management Plan

Organizations that advertise credit counseling often arrange for consumers to pay debts through a debt management plan (DMP). In a DMP, you deposit money each month with a credit counseling organization. The organization uses these deposits to pay your credit card bills, student loans, medical bills, or other unsecured debts according to a payment schedule they’ve worked out with you and your creditors.

• Self-Help Your Debt

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.

• Credit Repair: How to Help Yourself

You see the advertisements in newspapers, on TV, and on the Internet. You hear them on the radio. You get fliers in the mail, and maybe even calls offering credit repair services.

• Advertisements Promising Debt Relief May Be Offering Bankruptcy

Debt got you down? You’re not alone. Consumer debt is at an all-time high. Whether your debt dilemma is the result of an illness, unemployment, or simply overspending, it can seem overwhelming. In your effort to get solvent, be on the alert for advertisements that offer seemingly quick fixes.

• Understand Credit and Your Consumer Rights

We all know that a good credit rating very important. Businesses inspect your credit history when they evaluate your applications for credit, insurance, employment, and even leases.

• If Your Credit Counselor Has Gone Out of Business

What happens to your DMP if the credit counseling company that managed your debts shuts down? A counseling agency that is going out of business may send you a notice telling you that your DMP is being transferred to another company. Or it may tell you that you need to take some action to keep your financial recovery on track.

• Using a budget calculator to manage your monthly debt

Using a budget calculator to manage your monthly debt. You need to know how much is spent and where it was spent.

• The most important part of debt management - get rid of all credit cards

Many people are concerned with debt management especially with the way the economy is right now. There are many parts of debt management and to cover it all would be very lengthy.

• Collecting Time-Barred Debts

Most courts that have addressed the issue have ruled that the FDCPA does not prohibit debt collectors from trying to collect time-barred debts, as long as they do not sue or threaten to sue you for the debt. If a debt collector sues you to collect a time-barred debt, you can have the suit dismissed by letting the court or judge know the debt is, indeed, time-barred.

• About Advance Fee Loans

If you’re looking for a loan or credit card but don’t think you’ll qualify – or if you’ve been turned down by a bank because of your credit history – you may be tempted by ads and websites that guarantee loans or credit cards, regardless of your credit history.