Opted For Debt Consolidation? Here is How You Can Make Debt Relief Permanent

By Marie3atha on February 4, 2010 In Uncategorized

If you have just obtained debt consolidation loan, you should take steps to make your debt relief permanent. Do not be under misconception that consolidation alone is enough to overcome all your debt problems.

You have merely solved administrative problem. Instead of focusing on multiple credit cards or unsecured loans, you just need to focus on a single loan and repaid properly. However, this does not mean you cannot make your debt relief permanent.

Read ahead for some tips that will help you enjoy complete financial freedom after consolidating your loans.

If you are self employed person, you should assign a particular income source for repayment of debt only. Do not try to meet the minimum monthly installment. Rather, divert all the funds that you receive from a particular project, whether less or more, towards debt repayment.

This will help you bring your debt down a lot faster. Further, this will take that single project out of calculation and you will be a position to plan your finances better. More often than not, we meet all our essential expenses and then try to make debt repayment. This approach will give primacy to your debt repayment and will help you bring it down faster.

You should analyze and determine whether your decision to opt for a debt consolidation loan has work for you or not. Do not presume that everything is alright just because your lenders are not calling you or troubling you for repayment. You should ask yourself whether you are doing anything to bring your debts down.

If consolidation has not helped you in that regard, you should seriously consider a debt settlement. Settlement involves obtaining a significant discount from your lenders and repaying debt in a time bound manner. It is advisable to employ services of a settlement company because this will not just increase your chances of getting a big waiver but will also make you more disciplined.

Personal negotiations with lenders only lead to lethargy and overconfidence. On the other hand, if you employ the services of Settlement Company and pay for the same, chances are high that you will be disciplined in your approach.

The mere fact that you have thought of bringing your debts under control and making debt relief permanent means that you are on the right track.

If you are over $10k in unsecured debt it would be financially prudent for you to consider a debt settlement. There are organizations that exist called “Free Debt Relief Networks” that are a great place to start in locating legitimate debt settlement companies in your region. They provide free debt help and know where to locate the top performing debt settlement firms. To get free debt help check out the link below:

Free Debt Help.

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