You can throw the reminders in the Cuisinart or chuck them into a garbage can, but that won't make the debt go away. Debt hovers like a carrion bird over a dying beast, with annual rates of 20% or more compounded monthly, month in and month out. You can't wish it away. But you can pay it down with determination, our free debt-fighting resources, and the good graces of a few wealthy relatives (see tip No. 5). Here are nine ways to get out of debt:
Find out how to make credit report disputes to the three major agencies. 60 Minutes: Experian Vs Transunion Vs Equifax "A mistake on your credit report can cost you money," Kroft noted, citing loan interest rates, car financing, mortgages, and even job searches or security clearances.
Instead, bite the bullet and pay as much as you can each month. If your minimum payment is $100, double that to $200 or more. Examine your normal expenses -- you can find the money. (For a gazillion ideas, check out our Living Below Your Means discussion board.) Skip eating out at lunch, and bring it from home instead. Eliminate desserts. Give up happy hour. We all have "luxuries," and you know what yours are.
Now that we have taken a look at some of the nasty elements of identity theft, we can glance at the importance of having a professional credit monitoring service to keep a watchful eye over your financial institution:
You will be afforded the opportunity here to review detailed and precise credit reports, as the credit monitoring service you sign up with will pull your information through the three major credit bureaus; TransUnion, Equifax and Experian.
You will have detailed access to every account on your credit report history in terms of the when and how they were initially established. Any time there is a noteworthy incident on your credit report that can significantly influence the particulars; a credit monitoring service will bring you up to speed and confirm that you are keenly aware of them. These extra set of trained eyes on your credit report are great for viewing it under the microscope with a fine tooth comb. Remember, they are professionals and a lot of the times they will pick up on things that you may have glossed over and missed.
Another way to transfer higher-interest debt to a lower-interest card is to take advantage of the promotional offers many banks use to entice you to their line of credit. You've seen the come-ons. "Transfer all your credit card balances to us, and pay just 5.9% until next January." It could be worth it. Moving to 5.9% from 18% interest could mean substantial dollars to you. And the money saved in interest could then be applied toward the principal each month, thus reducing your outstanding debt balance even further.
60 Minutes: Credit Report Customer Service About eight million consumers file disputes every year, visiting the credit reporting websites to begin the process, if they can first navigate sales pitches for financial products offered by the companies. Steve Kroft called a customer service number and got a call center in India, where he was not given much help after a 15-minute phone call to a toll-free number. What about that post office box number? According to Kroft, "it's extremely unlikely that anyone with the authority to resolve your dispute will ever actually see it."
Find out how to make credit report disputes to the three major agencies. 60 Minutes: Experian Vs Transunion Vs Equifax "A mistake on your credit report can cost you money," Kroft noted, citing loan interest rates, car financing, mortgages, and even job searches or security clearances.
Instead, bite the bullet and pay as much as you can each month. If your minimum payment is $100, double that to $200 or more. Examine your normal expenses -- you can find the money. (For a gazillion ideas, check out our Living Below Your Means discussion board.) Skip eating out at lunch, and bring it from home instead. Eliminate desserts. Give up happy hour. We all have "luxuries," and you know what yours are.
Now that we have taken a look at some of the nasty elements of identity theft, we can glance at the importance of having a professional credit monitoring service to keep a watchful eye over your financial institution:
You will be afforded the opportunity here to review detailed and precise credit reports, as the credit monitoring service you sign up with will pull your information through the three major credit bureaus; TransUnion, Equifax and Experian.
You will have detailed access to every account on your credit report history in terms of the when and how they were initially established. Any time there is a noteworthy incident on your credit report that can significantly influence the particulars; a credit monitoring service will bring you up to speed and confirm that you are keenly aware of them. These extra set of trained eyes on your credit report are great for viewing it under the microscope with a fine tooth comb. Remember, they are professionals and a lot of the times they will pick up on things that you may have glossed over and missed.
Another way to transfer higher-interest debt to a lower-interest card is to take advantage of the promotional offers many banks use to entice you to their line of credit. You've seen the come-ons. "Transfer all your credit card balances to us, and pay just 5.9% until next January." It could be worth it. Moving to 5.9% from 18% interest could mean substantial dollars to you. And the money saved in interest could then be applied toward the principal each month, thus reducing your outstanding debt balance even further.
60 Minutes: Credit Report Customer Service About eight million consumers file disputes every year, visiting the credit reporting websites to begin the process, if they can first navigate sales pitches for financial products offered by the companies. Steve Kroft called a customer service number and got a call center in India, where he was not given much help after a 15-minute phone call to a toll-free number. What about that post office box number? According to Kroft, "it's extremely unlikely that anyone with the authority to resolve your dispute will ever actually see it."
About the Author:
The indicated article author is very knowledgeable on the subject matter of top credit monitoring services. Please have a look at their blog to find out even more.
No comments:
Post a Comment