Do you have a lot of credit card debt and are struggling to make the minimum payments each month?  Well you are not alone, the average person today owes more than $9,200 on credit credit cards.  Most credit cards carry high interest rates of 18% and more.  With rates like that, it seems almost impossible to pay off all of your debt.  If you have missed a few payments your credit may not be the best.  Here we will discuss how to acquire a debt consolidation loan with poor credit.

A debt consolidation loan will move all of your credit card and personal loan payments into one monthly payment.  The larger loan is usually a good idea because it will have a lower interest rate and more of your payments will be going toward the principal.  Getting approved for a debt consolidation loan with poor credit is not always an easy thing to do.  You are in a tough spot because you want to get a loan to pay your debt off but most companies will not approve the loan due to you being a high risk client.

At Sunbeam Financial we have partnered with Curadebt who specializes in helping people get out of debt.  They have been in business for many years and have been able to help hundreds of people transform their financial outlook.  Curadebt provides many services in addition to debt consolidation such as credit counseling, debt settlement, and credit repair.  They offer a free consultation and can suggest the best solution for your specific financial profile.  Click the link below to get more information.

Curadebt is our #1 recommended program!

Debt settlement is a service provided by Curadebt that you may want to look into.  With debt settlement you will not be paying the full balance of your debts.  Instead Curadebt will work with your creditors and negotiate a lesser amount.  This is good, however, there are some drawbacks to it.  Most importantly, your credit score will suffer if you go this route.  Your creditors will report to the credit agencies that you paid less than the total debt owed.

If you have missed several payments and already have damaged your credit I would definitely recommend the debt settlement route.  You will be able to be debt free much faster than if were to pay the entire balance.  Curadebt will work with debt settlement clients who owe more than $10,000 in total debt.  After your credit settlement you can then start to work on repairing your credit, saving for the future, and staying out of debt.

Similar to debt consolidation, with debt settlement you will have one monthly payment with a lower interest rate.  Be sure to do your homework when selecting a debt consolidation company.  There have been many scams and several people have been taken advantage of throughout the years.  We have done the hard work for you by introducing you to our partner Curadebt.  they are backed by proof….check out their reviews here. (Over 907+ positive customer reviews).

Stick To a Debt Management Plan

The financial consultants at Curadebt will help you come up with a debt management plan.  Sticking to the plan will help you get out of debt and reach your financial goals.  It is easy to get consumed by your credit card debts working with Curadebt will help you get a debt consolidation loan with poor credit.  The debt management plan will make you financially responsible and keep you out of bankruptcy.

Curadebt is a business and obviously charges for their services.  If you would like to learn how to manage your debt on your own visit the Consumer Credit Counciling Center of America website.  They are a government agency that is non-profit and they can help you set up a good financial plan.  The CCCA can also help you with other problem areas in your finances such as stopping collection calls and pointing you in the right direction for other services.

Once you are out of debt, develop a solid monthly budget that you will not deviate from.  Take a look at the purchases you made over the past month and see if there are any holes in the bucket.  Many times you will find there are things that are eating away at your finances each month that are unnecessary.

Finally, you should try to reestablish your credit by applying for a low balance credit card.  If you credit is in really bad shape you may have to put up a small deposit up front to get a card.  This will help reduce the risk to the credit card company.  Also, be sure to not charge anything more than you can pay off each month.

In conclusion, debt consolidation programs are a good idea to lower your monthly payments and overall interest that you will be paying.  Find a company that is right for you that has a proven record of helping others.  Doing this and getting out of debt for good will be the best financial decision you can make!

Perhaps you experienced a financial setback and were forced to take out a pay day loan.  It happens all the time, however, sometimes paying these loans back can be difficult.  Pay day loans are short term, high interest loans for relatively small sums of money.  These loans are typically used in emergency situations such as car repairs, appliance repair or something similar.

While the immediate cash flow can come in handy, it often comes with a price tag that is too much to pay.  When people get behind on their pay day loan repayments it can seem impossible to get back on track.

The high interest rates will eat up all of the payments you have been making toward the loan and you can’t get ahead.  If this is your situation a pay day loan debt consolidation loan is the right choice for you.

Where To Get The Best Debt Consolidation Loan

If you have good credit, the best place to get a pay day loans debt consolidation loan is your local credit union.  A credit union is going to have lower rates than your typical bank.  They also are usually more lenient and flexible with your credit and terms.  Therefore, it will be easier to get qualified with them rather than a standard bank.

The lower rates and overall lower monthly payment will help you get back on track.  You can pay back the high interest pay day loan and work toward becoming debt free from the loan from the credit union.  Standard banks will give you a consolidation loan as well.  Keep in mind their terms will be more strict than a credit union and have slightly higher interest rates.  These rates will definitely be lower than your pay day loan or credit cards so this may be a good option as well.

If you have a lot of credit card debt and are looking for  pay day loans debt solutions there are a few things to consider before accepting the new loan.  Sometimes the bank issuing the consolidation loan will make you close your credit cards out once the payments have been made to get the balance to zero.  They do this to protect themselves.  The banks want to make sure you can pay your loan and they don’t want you to rack up more debt on the cards.

Once the cards are at zero a lot of stress and burden has been lifted from the consumer. He or she may feel that they can spend on the cards again which is not a good idea.  Before signing any consolidation loan, be sure to look over the fine print and make certain you do not have to close any of your accounts.

 Debt Relief For Pay Day Loans – More Solutions

We have discussed getting a debt consolidation loan for those who have good credit but not everyone is able to do this.  If you are a few months behind on your payments it will negatively affect your credit score.  This will make it much harder to get a loan to pay off your debts and get you back on track.  If you are not able to get ahead and it seems like you are getting nowhere with your debts you might want to consider a debt settlement program.

These programs will contact your creditors and negotiate better terms on your behalf.  A good program will also negotiate with them to reduce the overall amount you have to pay.  This amount can often be cut down to less than half of the balance owed.  Each financial situation is different and the institution will look over your credit profile and determine the plan for you.

At Sunbeam Financial we have helped hundreds of people get pay day loans debt consolidation and relief.  Our partners at Curadebt can take the stress off of you by reconstructing your debt.  They offer a free evaluation and will give you a road map to get you back on track at no cost to you.  If you are overwhelmed by pay day loans and credit card debt, click the link below to get started.

=>      Curadebt Pay Day Loan Debt Relief    <=

Sunbeam Financial has partnered with Curadebt because of their excellent customer service and their vast history of helping people achieve their financial goals.

When you are over your head in debt the situation can be very stressful.  No matter how much effort you put into paying your debt off it seems like you are getting nowhere.  Perhaps you are paying the minimums on your credit cards and just treading water.  You can stop spending on your cards which is a good thing but sometimes that just isn’t enough.  However, there is good news.  By practicing a few healthy financial habits you can learn how to deal with debt and bring your credit situation under control.

How To Deal With Debt – Step One: Do a Financial Analysis

The first step to getting your financial life back in order is to do a quick analysis of the situation.  How much debt do you have and how did you get into debt?  These are important questions to ask yourself.  People may find themselves over their head in debt for many reasons.  Perhaps you have medical debt, are past due on taxes, or simply have used your credit cards unwisely.  Whatever the reason, you need to find the exact amount of debt you have before we can begin the process of how to deal with your debt.

Once you have your total debt number, the next step is to write down all of your income and expenses for the month.  We need to assess whether you have enough money to cover your current expenses.

Dealing With Debt – Step Two: Contact Your Creditors

If you are dealing with overwhelming debt you need to contact your creditors and renegotiate the terms.  The credit card companies and banks want to get paid and they will be willing to work with you.  Call them and let them know you are going through financial hardship.  Many of them will temporarily suspend your accounts so you don’t rack up more debt and you can negotiate a lower interest rate to help get you back on track.  Don’t look at the temporary suspension as a bad thing.  Instead, work towards paying off your debt and your reward will be a free and clear card with normal spending habits.

How To Deal With Debt – Step Three: List Which Debts Should Be Given Priority

Although we eventually want to pay off all of our debt, some bills are going to be given priority over others.  There are a few ways to approach this.  You could start by paying off the highest interest debts first.  This is a good strategy because they are eating up most of your payment.  However, this isn’t the way I recommend doing it.

I prefer to pay off the debt with the lowest balance first.  I do this for two reasons.  First of all, it will give you a sense of accomplishment when one of your bills goes away.  Also, once you have that bill taken care of, you can now use the money that you were spending on that bill each month and apply it to the debt with the next lowest total.  This is called the debt snowball and it is very effective.

Let’s say you have a credit card that you owed $350 on and each month you were paying $50 towards it.  Once the bill is paid in full you can use the $50 that is freed up each month and apply it to another bill.  This will start to pile up and you will be paying your debt off faster and faster.

• Contacting the creditors with the intention of redesigning the debt situation, so that it becomes more manageable will also be an option to consider. Most debtors are willing to help as it would eventually mean that they too will be able to benefit from the debt being eventually paid in full. Simply continuing with the current payment conditions will not help and may even cause more problems when the initial sum is not cleared and payments are only servicing interests incurred.

• Although this may incur some cost, seeking the help of a professional financial planner should also be explored as an option to finding ways to manage the mountain of debts. These professionals will be able to provide a better insight on how to handle matters to the best interest of the individual.

Some of the highest interest rates you can find are from pay day loans.  If you are taking out these type of loans you need to get on top of them as soon as possible.  See our article on how to deal with payday loan debt.

GETTING HELP FROM PROFESSIONAL FINANCIAL EXPERTS

Sometimes learning how to deal with debt can be more than you can handle.  If you feel that you cannot cure the situation on your own I suggest calling a professional debt management company.  These professionals will take a look at your current financial situation and give you the best option to recover.  They handle these situations every day and the right company will always put you first.

At Sunbeam Financial we have partnered with CuraDebt because of their excellent track record and customer service.  There are many debt management companies out there and in our opinion CuraDebt shines above the rest.  They have been in business since 2000 and have more than 900+ reviews with a 5 star rating.  They are accredited with the Better Business Bureau and have an A+ rating there as well.  With personal and business debt settlement, debt negotiation, consolidation and IRS tax relief, they have a program that will work for you.

Click here to visit the CuraDebt site and get your free financial analysis:  https://sunbeamfinancial.net/CuraDebt

A CuraDebt financial analysis is quick and easy.  They will walk you through the process step by step and give you the best options for your current situation.  Try it out today, it is FREE and you have nothing to lose.

Professional Help With Managing Your Debts

Getting the help of a financial planner is smart, they can help you stay on track on not over commit financially.  A few bad financial decisions can lead you down a slippery slope that is hard to recover from.  A good financial planner will give you the information you need to make informed choices in your financial life.  Once your finances are in order a financial planner can help you choose suitable investments so your money can grow on autopilot.  These professionals will give you options so you can choose the investment with the proper risk to reward for you.

However, getting the help of an expert is not free and some people are not willing to pay the small fee for their services.  They prefer to do it themselves instead.

For those who have a bit of tech skills, there are many options online.  There are several free software programs on the internet that will help you plan your finances on your own so you can learn how to deal with debt.  This is a great option for individuals who don’t want to pay the small fee for a financial expert.  Not all financial software is created equal so you will have to do your due diligence and find the best and highest rated.

Most of the programs are very user friendly and easy to use.  Simply input the information requested and the program will provide you will several different options.  This is an advantage over using a financial planner because you can quickly and easily see different scenarios and how changing one or two investments will make a difference in the long run.  A financial planner will give you one or two options but a software program can quickly give you dozens of options.

A good financial software program should be able to provide you with retirement options, budget and cash flow options, college planning, net worth projections, and asset allocation projections.  This can really come in handy and give you a solid game plan for the future.  However, before you start planning for the future you need to make sure your financial status is healthy.  You need to learn how to deal with debt first and plan for your retirement once you are out of debt.  Sunbeam Financial is here to help you out.  Give Curadebt a call and let’s get your out of debt!