Debt Help
Getting out of debt in the easiest, most efficient and moral way, can be done simply
by contacting a Christian Debt Settlement company such as Nationwide Debt Reduction.
However, we also believe that the more you know about yourself and your debt, the
better you will understand the process that we use as well as learning how to never
fall into the �debt trap� again. Therefore, we recommend the following steps if
time allows.
- Find out what your debt to income ratio is. This is one of the many factors that
the three major credit bureaus use in determining whether or not to issue debt to
an applicant. To calculate your debt to income ratio, simply take the amount of
money you take into your household each month (net pay) and divide that by the amount
of debt you pay each month. (Be sure to include your rent or mortgage; credit card
debts; auto or truck payments; taxes; and any other miscellaneous debt). This will
help you better understand where you are in the scheme of things.
- Although almost impossible in today�s economic environment, always try to pay yourself
first! After all, you are one sitting in traffic, putting up with your contemporaries
every day, while working your tail off. We used to say 10% of your take home pay,
however just make it whatever you can afford. Just do it!
- Do not close your credit card accounts, even if they have no balance on them. The
credit bureaus, in calculating your debt to income ratio, look favorably upon the
number of accounts you have open, however do not owe any money on. < /br> Once you
have done all of this, you are ready to sit down and calculate where the �gurus�
recommend a model portfolio would look like. It would look something like this:
- Housing 35% - Mortgage or rent, taxes, repairs, improvements, insurance, and utilities;
- Transportation 20% - Monthly payments, gas, oil, repairs, insurance, parking & public transportation;
- Debt 15% - Credit cards, personal loans, student loans & other debt payments;
- All other expenses 20% - Food, insurance, prescriptions, doctor & dentist bills, clothing & personal;
- Investments & Savings 10% - Stocks, bonds, cash reserves, retirement, rental real estate, art, etc.
Now, we realize you would not be contacting us if your debt were only 15% of your
total output. However, by calling us toll free at 800-890-6658, we can show you
a way to bring your debt down to 0% in four (4) years or less, significantly impacting
your debt to income ratio and your overall financial profile as well, giving you
that sense of financial freedom you have not experienced in a while�promise!
Here is why we are the Preferred Debt Relief and Debt Reduction service in America
- You can become free of credit card debt once and for all.
- You can receive immediate debt relief and no more creditor phone calls.
- We negotiate and settle your debt on your behalf.
- 15 years of helping hundreds and hundreds of clients across America.
Please call us toll free at 800-890-6658 for a Free Debt Relief-Debt Reduction Consultation.
Or use our Debt Relief Getting Started form.
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