Achieve debt relief: check out these programs

debtWith the recession happening, it is no big question why more and more people are getting into debt. In fact, a recent survey showed that more than 70% of American households are in debt and that this is because these families actually spend more than they earn. With the use of credit cards, it is now difficult for families to budget and actually get a real knowledge of how much they should only spend minus all the bills and utilities.

Are you in debt? Then you are probably wondering how you could get out of debt or at the very least, achieve debt relief. First off, what is debt relief? There is no one big definition of debt relief, but it is basically a series of programs or ways that can help you slow down debt or programs that will allow you to pay only a partial amount of the debt and have the debt considered as fully paid. If you want to learn more, then here are some of the most popular debt relief programs that you can avail of:

Debt Consolidation

Debt consolidation is definitely for the person who owes money to different companies or organizations. For example, you have credit card debts and student debts with varying interest rates. What debt consolidation does is combine these debts giving you the ease of paying these debts plus the reduced interest rate since you’ll just paying one debt. The great thing about debt consolidation as well is that you are sort of starting with a clean slate, meaning your late payment penalty fees and other charges will probably be taken out of the equation. You will also be given a longer period to fulfill the debt so giving you more time to gather resources.

Debt Settlement

Debt settlement is also another viable option. With debt settlement, you basically recognize and acknowledge that you can barely pay off your debt. It might be a bit embarrassing but this is definitely better than having to file for bankruptcy. Debt settlement is when you and the company come into agreement as to how much of the debt you’ll have to pay in order to be considered free of debt. Most companies reduce debt by 40-60% so before your debt becomes a major issue, meet with your company now and try to compromise.

Debt Management

Companies however are not that confident that you can really pay your debts on time and faithfully so before they go into an agreement or compromise, they will want to bring a third-party organization or person into the scene. In debt management, a credit counseling agency will analyze your financial situation and they will be the one to negotiate with your debtors. You will be sending your payments to the credit counseling agency who will in turn give the payments to your debtors.

Better take one of these three debt relief programs now. Don’t wait for the worst alternative and face having to file for bankruptcy.…

You can file bankruptcy whether you are rich or poor

If you are experiencing extreme financial difficulties, it is within your legal right to be able to file for bankruptcy protection. If you find yourself in a lot of debt, whether you are an average income earner (making $30,000, or less than that for that matter), or if you are one of the top echelon million dollar income earner, you are still protected under the same set of bankruptcy law observed by the US bankruptcy law. As part of your legal right, you cannot be discriminated against based on your social status, gender or even race if you had to file bankruptcy protection. As long as you can prove to the bankruptcy court that your circumstance for filing bankruptcy is legitimate, just about everyone can apply for the bankruptcy petition.

The bankruptcy court does not care if you have a several hundreds of dollars in debt or even millions in debt. What the bankruptcy court looks for is your ability or inability to pay off the debt in your legally documented bankruptcy paperwork. If you are able to substantiate all your claims, the bankruptcy court will most likely grant you the bankruptcy Do not feel embarrassed that you have to file bankruptcy. Even some of the most prominent figures in this society such as real estate tycoon Donald Trump and famed boxer Mike Tyson had to file for bankruptcy shelter to dodge their creditors.

The only determining factor for filing bankruptcy is your ability to pay off the amount you owe, and not how much you make per year, or how much you owe in total. Do not let outside forces influence your thinking. If you finally settle that filing bankruptcy is for you, you should not feel embarrassed about it. If you can swallow your own pride and file for bankruptcy, you can have a shot with a better financial future. Is it better for you to say that you have never had to file for bankruptcy and be in heavy debt for the rest of your life? You can easily file for bankruptcy as long as you are not trying to defraud the system by filing when you are not in serious financial difficulties. If you know that you will be filing for bankruptcy and knowingly charged hundreds and thousands of dollars on your credit cards to buy expensive items, then your bankruptcy can become a sham and therefore not be given the discharge. That is the ultimate power of the bankruptcy process, the ability for you to wipe away most, if not all, of your outstanding debt hence giving you a chance to start out with a clean slate.

Do not worry if you need to file bankruptcy

So instead of asking if you are eligible to file for bankruptcy shelter, you should ask yourself if you really need to file bankruptcy or not. Filing for bankruptcy should be a once in a time time event, and should be taken seriously. Filing for bankruptcy has many advantages and disadvantages associated with it, and therefore you need to review them cautiously. If you have many doubts on what will happen before and after you have filed for bankruptcy, your best bet will be to hire a bankruptcy lawyer to guide you through this whole process. A local bankruptcy lawyer should be able to help you process your filing more smoothly and answer any concerns you have about the entire process.…

Frugal Family Entertainment Tips

family photoFamily entertainment can cost a small fortune and quickly eat into your family budget if you are not careful. But it does not have to be that way. You can still get together for fun family entertainment without breaking the bank, by making use of free or low-cost entertainment right on your doorstep.

Head to the Library

When was the last time you visited the library? When you were eight years old in need of facts on earthworms for a school project? The local library is no longer just the hang-out of bookworms or students in need of quiet study time. You can now entertain your whole family for less just by visiting your local library.

Look out for DVDs, videos, audio recordings, and other free (or low cost) entertainment. Some libraries even offer their patrons free popcorn, so take full advantage of the facilities at your library, for your family night. Just be sure to return borrowed items on time, otherwise you will find that your entertainment budget is eaten up by late fees.

Get Creative!

Doing the same thing week in and week out can soon become boring which is why it is a good idea to vary your own entertainment and get creative. Come together as a family and brainstorm some ideas. Does Johnny want to put on a play for the whole family next week? Or perhaps Dad wants to take the family for a hike in the forest?

Make a list of everyone’s suggestions and put them in a hat. Pick one out for the week and then make plans to carry it out. Then do the same with the suggestions that were left over, until everyone in the family has had a chance to choose a family entertainment idea. Just be sure to pick something that is reasonable and will not exceed the family budget. A two-week trip to Disneyland for a family of six say seem like a great idea, but is it really going to be feasible?

Meet at the Park

Meeting at the park gives children an opportunity to let off a bit of steam, as they run, play ball and chase the dog, while the adults in the family get to talk, laugh and relax around the picnic hamper. Prepare for a trip to the park by packing a picnic lunch, sporting equipment to keep everyone entertained for a few hours and don’t forget to take the dog along, with his own supplies, to join in the fun.

Frugal family entertainment does not have to be austere and boring. It is still possible to have a lot of fun together as a family without spending a fortune on transportation costs, expensive tickets and snacks. Many families entertain themselves cheaply by heading to the library each week, coming up with creative ways to have fun such as taking long walks, and meeting for a day of fun at the park. The possibilities are endless.…