ARRRGGHHHH! I think everyone in my apartment complex heard me scream when I opened my latest energy bill. Dear Hubby and I live in a two bedroom apartment and our most recent energy bill was $102.23, which is a $41 increase in just one month.
For many, they see joining a DMP as a fresh start financially, and taking a more proactive approach to correct their past mistakes..
If you find yourself in a situation where you are no longer able to afford your mortgage payment, try the following strategies to strengthen your finances and help manage your mortgage commitments.
The purchase of a vehicle is generally the second biggest purchase most Americans will make, with their home being the first.
In the late 1980s, I was a struggling young father in my 20s who was going through a divorce and trying to make ends meet. In an effort to seek help managing my debt, I took the advice of a lawyer and declared bankruptcy. It was a huge blow to my self-esteem, but it made an important impression on me. I was committed to learning more about managing money, investing, saving, and making my money work for me. What I soon discovered is that most financial companies only help people who have lots of money, not people who are struggling to live paycheck to paycheck and pay their bills on time.
With banks losing money through their mortgage investments and the current credit crunch; they are turning to other portions of their business portfolio to make up the losses.
We are bombarded daily with advertisements promising that more credit will help. This is not the case!
It is almost impossible to purchase anything these days without hearing the phrase, “Would you like to open a store card and save 10%?”
Enrolling in a Debt Management Plan is a huge step for many struggling with debt. Many are skeptical at first and frequently ask these three questions after enrollment.
The problem is they are not exact and defined, and most people are bound to fail with these goals. If you don’t have a target, how can you hit it?
It's important to take an active role in your plan and understand what you can do to ensure your success.
A few months later you have five or six payday loans and each of the lenders are taking money out of your checking account.