The Essential Online Resource you Need to Finally Find a Way to Consolidate your Debt.

Thursday, September 08, 2005

Debt Handling Solutions

Sometimes debt can seem overwhelming. In those instances, or evenbefore things get that far out of hand, get back to basics andtry some of these debt handling solutions.
BASICS – Lower insurance deductibles for your homeowners,renters and vehicles policies where appropriate and save money.Don’t take chances on bouncing checks; instead get covered withoverdraft protection and pay about the same as what it would costfor one bounced check to cover our account for an entire year.Ask your banker about packaged account services. Many offer freesavings and checking accounts with free overdraft protection andchecks, free online bill paying and more. When you shop, checkyour receipts, even for groceries. Many times items ring up atincorrect prices. Sometimes store policy allows for no errors,meaning you get the items free if it wrings up wrong. So carryalong a handheld calculator or pencil with small notepad to tallyup your charges.
REACH OUT- If you have medical debt, the first thing healthcareoffices try to do is get you to charge the bills or refinanceyour home, etc. STOP. Before you take such a drastic step, checkwith legal counsel. There are often other steps to take first.For example, notify the billing parties and tell them you need toapply for financial aid. Many have forms to complete, andalthough they may be lengthy, remember they’re for free money topay your bills. Reach out, take forms and fill them out. Then setup minimum payment arrangements for the remaining balances, evenif it’s just $10 a month for 30 years. Healthcare bills are notlike credit card debt and do not need to be reported to thecredit bureau in the same manner.
Also reach out with merchandise and return any recently purchaseditems that you can for a refund. Credit cards and mail ordercompanies generally allow you 30 days to inspect your purchase.Return any you can for refunds. If purchases are beyond the 30days and for various reasons don’t hold up to their end of the“bargain;” i.e. they broke already or never worked right to beginwith, get on a letter writing campaign pronto. Write the place ofpurchase and copy the manufacturer, the distributor, the BetterBusiness Bureau and your state Attorney General’s Office. Statethe reasons our product is faulty and that you want a refund.It’s often rewarding to get help with other entities like these.No need to go it alone!
So before your debt gets out of hand, take charge and get backto basics. Put some of these debt handling solutions intopractice and make the most out of what you have.


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