By Dometri Quick

Debt consolidation? Debt settlement? Bankruptcy? They can all hurt your credit score, but which way is the best way to eliminate debt?

Consolidating debt with the wrong company

If you’re in a bind with debt, struggling to maintain a healthy credit score or just frustrated by the current state of your finances, there’s a good chance that you’re at-risk to fall victim to one of the many credit killers lurking the world today. Bad credit can be a real detriment to your life as it may disallow you from buying a new home, leasing a new car or even obtaining a new job. Maintaining good credit is something that’s so important for your future as you need it to succeed in most aspects of your life.

Unfortunately, when you’re attempting to eliminate debt from your life, there are some credit killing methods that may seem like they’re helping you, when in actuality, they’re simply hurting your overall credit score. One thing that could kill your credit is consolidating your debt with a dishonest debt consolidation company. A dishonest debt consolidation company will take your debt and try to consolidate it on the surface but without an effective plan moving forward, it may not allow you to make regular payments on your debt.

When this happens, not only do you run the risk of losing some credit points by consolidating, but you also may suffer because you’re not paying your creditors on time. This may cause you to discontinue consolidation and return to your creditors, which is one easy way to completely kill your credit.

Settling your debt without understanding the process

While investing in a dishonest debt consolidation company can be detrimental to your credit, that is not the only way to hurt your credit score. Debt settlement is another popular option amongst those looking to eliminate debt very quickly. It works by allowing a consumer to negotiate directly with a creditor in order to settle a debt.

Typically, the settlement costs significantly less than paying off the debt would. While this is effective if you use a tight negotiation process, you also need to be completely sure that you understand all the terms surrounding the settlement and speak with a financial advisor to make sure the terms suit your needs. You should not have to give up control of your credit score to settle your debt. And, if this becomes the case, you should consider other options when settling your debt.

Consolidation may not be quite as cost-effective if you can afford to settle for a lump sum payment, but if settlement will cost your credit score points, think again and make the best decision for you. The key to a successful debt settlement is everyone coming out feeling satisfied and not losing anything in the process. Be sure your settlement won’t kill your credit.

Declaring for bankruptcy? Think again

As far as debt elimination options go, bankruptcy should be your absolute last option. Why? Well, bankruptcy is the ultimate credit killer. It will remain on your credit report and will automatically destroy your credit history. While it is effective in helping those who have absolutely no other options, it’s also a method that some people try before they really have to.

Are you simply frustrated and not necessarily in dire straits when it comes to debt? Some folks opt for bankruptcy out of this frustration before they need to. Consider all your other options before you enter into a bankruptcy agreement. Not only will you be glad you did today, but you’ll be glad you still have your credit for years to come. Don’t kill your credit before you’ve tried everything else and made every effort to eliminate your debt the right way. Don’t fall victim to any of these credit killers.

About the Author: Dometri Quick is the development director at

DebtConsolidationSupport.com

. You can find more articles for helping you eliminate credit card debt at

debtconsolidationsupport.com

.

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byadmin

After graduating from a university or college, the hard work begins. It can be quite challenging for many graduates as there is plenty of competition to contend with. Many students have a dream of becoming a doctor, engineer etc., but eventually end up with something else. This is mainly due to lack of planning and career advice. If you want to have a great career, you should opt for career counselors / advice.

As you start your search for a good career, you may not have any idea about want you actually want to pursue. Career counselors / advice is one of the easiest ways to determine which direction to take. There are many activities you participate in as you enjoy doing them as hobbies. Similarly, there are also some activities you take part in because you can see yourself doing that.

Job Search made easy with Career Counselors / Advice

Whenlookingfor your first job, talking to your parents, relatives and friends can provide you a direction to start with. Visit career counselors for a good advice and to know about the available options. This way, you can get the right and professional career advice that would help you make the right decisions.

Pursuing a viable career can be quite challenging for beginners, especially as their knowledge is either negligible or void. However, this problem can be easily resolved by considering your likings or favorite hobbies. Being a novice, you might not have the required knowledge or skills to develop potential plans without these elements. This is when career taking career counselors’ advice is very helpful.

You must determine an institution where you can get a diploma/degree/license of the stream you like the best. It is better to start preparing for your career at an early age. If you are confused about which career to opt for, it is better to take career counselor’s advice.

By James Brown

There are many decisions made throughout life that require sound advice from a financial specialist. Finding personal financing advice can be as close as the local bank where personal business is transacted week by week or the advice could come from a financial planner who makes it their business to guide people to a better financial future through sound investment planning. There are costs associated with all types of personal financing and financial advice will help people realize which financing options are best and which should be considered at a later date.

Some young Americans want to work and retire at an early age. This ambition can be realized through sound personal financing advice that is heeded at various stages in life. An investment planner could help the young person create an investment portfolio that will earn income as the years go by and provide a solid income source when the chosen retirement age arrives. Finding personal financing advice that is centered on this goal will be easy, but following the advice will take a certain amount of self-discipline.

After finding personal financing advice, many people get busy consolidating personal debts and stop incurring more debt. Daily expense habits will suddenly begin to change and people that have a financial plan to guide them, will begin to save money by taking a lunch to work and alleviate the expense of dining out three or four days a week. Based on personal financing advice, the money saved each week will be applied to existing debts and eventually the financial calculators will show that the debt balances are disappearing.

While finding personal financing advice through financial accounts specialists at banking institutions, a homeowner might get sound advice on personal financing options that they did not know were available. The financial officers could show homeowners loan options that could reduce the monthly payments on a home mortgage loan. Interest rate reductions provided by the Federal Government will provide an out for many homeowners who are currently using adjustable rate loans to finance their homes and are at risk for losing them to the foreclosure process.

Using personal financing advice to refinance using a 30-year or 15-year fixed rate mortgage plan will ultimately lower balances considerably over the course of a new loan plan and give the homeowner a lower monthly payment that is more manageable. The monies saved through refinancing a home mortgage loan can be placed in a long-term savings account. The money could also be used as investment capital to build a solid financial portfolio for retiring purposes. Due to finding financial planning advice, a homeowner could simply pay one debt in full.

Financial planners can offer homeowners other personal financing advice if there are children at home that will go to college one day. A parent could set up a college tuition fund and not pay taxes on those monies for many years. Finding sound personal advice of this nature will allow people to realize that they can retire earlier than planned and have all financial commitments taken care of before they do. The personal financing advice might make a homeowner realize that a spouse will have to work a certain number of years to prepare for retirement.

About the Author: James Brown writes about

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