Debt Reduction Solutions
Finding solutions to reducing your debt takes some thinking and research on your part. You have some good choices available to you and we shall list these key debt reduction solutions for you right here:
1. Home Equity Loan or Home Equity Line of Credit. Your 21% charge card can be reduced to nearly 6% over night. How? By taking out a line of credit or equity loan against your home. Equity loans and lines of credit are available at low rates and banks are very willing to extend this service to you as your home is your collateral. Pay off all of your credit card debt with the loan and you will achieve debt reduction solutions immediately.
2. Replace high interest credit cards with low interest cards. Yes, in this day of low interest rates, many credit cards carry high interest rates. Ask your credit card issuer to reduce their rate closer to market rates. If they refuse to budge, consider applying for a low interest rate card from another provider. Transfer your balance to the provider offering the best rate.
3. Debt reduction solutions can be realized through the selling of other assets including: an extra car, antiques, jewelry, extra property, renting out property, or liquidating some other assets. Check around your home and see if there is something that you owe that can be sold on eBay or locally at a yard sale. Take the proceeds from your sale and pay down your debt, starting with the biggest debt first.
4. If you do not owe a home, or the home you do own has negligible equity built up then you cannot get equity from your home. Still, depending on your income, you may be eligible for mortgage refinancing below market rates. Check with your bank or local housing authority to see if you qualify for a low or moderate income loan. The savings you realize through reduced mortgage payments may help you pay down your debt.
Finding debt reduction solutions that work for you is an important first step in eliminating debt. Make a plan and stick with it and you will soon be living a debt free/care free life.
Mark Lambie is the founder of Fast Debt Settlement . We provide a free service that matches you with debt consolidation specialists
 Google News Updated : Sat, 11 Oct 2008 17:50:53 GMT This week in Apple: New notebooks, new writers, and more Woz - Ars Technica
Ars Technica - By Jacqui Cheng | Published: October 11, 2008 - 09:30AM CT This week's most-read Apple news was all over the map, but in a good way. Don't Buy A Mac Laptop* Apple may launch new laptop Publ.Date : Sat, 11 Oct 2008 14:43:05 GMT Marriage ruling not the end of debate in Conn. - The Associated Press
The Associated Press - HARTFORD, Conn. (AP) - Now that the Connecticut Supreme Court has ruled same-sex couples have the right to wed, opponents of gay marriage are pinning their hopes on an infrequent ballot question in a longshot bid to block the unions. Video: Connecticut Court Allows Gay Marriage Conn. Ban On Gay Marriage Reversed Publ.Date : Sat, 11 Oct 2008 16:41:18 GMT Palin hammers Obama on the abortion issue in Johnstown - CNN
CNN - (CNN) -- Alaska Gov. Sarah Palin took her message to voters in the battleground state of Pennsylvania on Saturday, lashing out at Sen. Barack Obama for his views on abortion. Palin drubs Obama on abortion during Pa. rally Palin Gets Personal On Abortion Issue Publ.Date : Sat, 11 Oct 2008 17:06:21 GMT Stevens's Reputation 'Sterling,' Powell Says - Washington Post
Washington Post - By Del Quentin Wilber Former secretary of state Colin L. Powell told jurors in the corruption trial of Sen. Ted Stevens yesterday that the powerful Alaska Republican had a "sterling" reputation among the nation's military and political leaders. Reporter's Notebook: Powell Takes the Stand for Stevens Powell says Sen. Stevens' integrity "sterling" Publ.Date : Sat, 11 Oct 2008 03:13:53 GMT GM Is Said to Be in Preliminary Talks With Chrysler (Update2) - Bloomberg
Bloomberg - By Jeff Green Oct. 11 (Bloomberg) -- General Motors Corp. is in preliminary talks with Cerberus Capital Management LP's Chrysler LLC about a possible merger or other partnership, people with direct knowledge of the talks said. Source: Chrysler, GM discuss merger, acquisition GM mulled Chrysler acquisition: Huh? Publ.Date : Sat, 11 Oct 2008 15:39:15 GMT Obama Aims for Electoral Edge, Block by Block - New York Times
New York Times - Lukas McGowan is focused on getting voters out on Election Day. “Once we register them,” he says, “that’s only half the job. Obama thanks McCain for remarks, presses attack FOX News poll: Obama leads McCain Publ.Date : Sat, 11 Oct 2008 17:21:34 GMT Nobel Peace Prize winner wants jobs for the young - International Herald Tribune
International Herald Tribune - AP HELSINKI, Finland: Nobel Peace Prize winner Martti Ahtisaari said Saturday that finding jobs for more than 1 billion young people in the Middle East and Asia will be a major challenge to peacebuilding in the next decade. Ex-President Of Finland Is Awarded Peace Prize Nobel Finn Publ.Date : Sat, 11 Oct 2008 13:12:07 GMT Increase Online Traffic |
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