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Decreasing Debt

If You Want to Improve Your FICO Scores…Paying Off Credit Debt Reigns Supreme

When it comes to boosting your FICO credit scores there are a variety of strategies that will yield varying amounts of improvement.  Many people believe that getting negative information removed from your credit reports is the number one way to increase your scores.  This is correct but only if the consumer is successful at getting most, if not all, of the negative information removed.  Getting one of your twelve collections …Read More

5 Tips For Staying Under Your Own Debt Ceiling

The stand-off between President Obama and Republican Congressional leaders over whether or not to raise our federal government’s debt ceiling continues to be a center of focus for Washington and the rest of the country. A debt ceiling, simply put, is a cap on how much money the federal government can owe. It is currently set at $14.294 trillion, and the debate is over whether that number should be raised before …Read More

Questions To Ask When Considering A Debt Settlement

Consumers in financial distress are often focused on one thing— relief.  After all, the mailbox is full of collection letters, and the answering machine is filled with calls from those you owe.  Money is tight and it seems as though there’s no way out.  When you are at your lowest, you hear a commercial that says you can be debt free in a matter of months.  The offer that sounds …Read More

Happy Financial Independence Day!

With July 4th just around the corner we take time to celebrate our nation’s independence. Why not take this opportunity to state your freedom from debt! Start by taking this pledge: Commit To Save! Americans are great spenders and lousy savers. Without a well-funded savings account, you are on a very slippery slope, one that becomes treacherous with the next unplanned expense. Put 10 percent of each take-home check into a …Read More

Financial Spring Cleaning Tip Of The Day: Cut Your Debt In Half By The End Of The Year

Find an extra $20 per week for the remainder of the year, and put it toward debt reduction. Not worth the trouble? Consider this: If you currently owe $1,000 on a credit card, have an Annual Percentage Rate of 18 percent, and are making a minimum monthly payment of 2 percent of balance, even if no further charges are ever added to the account, you won’t have that $1,000 paid …Read More

Financial Spring Cleaning Tip of the Day: Live Within Your Means

Simply put, don’t spend more than you make. To accomplish this, put the credit cards away. Many well-meaning people resort to living off of credit when facing a financial crisis, digging an even deeper financial hole. Instead, try living on a cash basis. People who do this typically spend 20 percent less, and they do it without feeling deprived. They buy what they want, but since their level of awareness …Read More

Take the Next Step to Living a Debt-Free Lifestyle

Last week we gave you tips on getting started to living a debt-free lifestyle. Now part 2 of the lesson…Turning Your Goals into a Reality! • Find hidden money in your budget by tracking your spending for 30 days. • Create a spending plan which includes all living expenses, debt obligations, and money for emergencies. • Involve the entire family in decisions so that everyone is pulling in the same …Read More

Take the First Step to Living a Debt-Free Lifestyle

Intrigued? Well, here are some tips to getting started: • Know where you stand. Start by getting your credit report free of charge at www.annualcreditreport.com. Review it for accuracy, and dispute any errors. • Order your credit score. It’ll be fun to watch it go up as your debt goes down. • Set your debt-free date. Use an online calculator to see how long it will take you to become …Read More

Thousands Of Consumers Take The Debt-Free Pledge

NFCC Hosts Campaign Bringing Awareness to Benefits of Debt-free Lifestyle During April, Financial Literacy Month, NFCC Member Agencies collected more than 5,800 pledges from consumers to become debt free. The Take the Debt Free Pledge campaign allowed consumers to make this voluntary commitment as their first step toward embracing a new financial lifestyle. Consumers who took the pledge were issued a certificate as a reminder of their commitment, along with …Read More

NFCC and United Way Worldwide Join Together to Help Financially Distressed Consumers

The National Foundation for Credit Counseling, Inc. (NFCC) and United Way Worldwide (UWW) each have a commitment to ensuring that individuals and families experiencing financial hardship have access to quality financial education, appropriate financial products, accredited counseling services and financial assistance. The two organizations are pleased to announce that this shared commitment has resulted in the creation of a partnership designed to bring together the strengths of the two respected …Read More