From the monthly archives:

March 2010

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Legal Debt Protection For Military Personnel

March 31, 2010

Members of our nation’s armed services aren’t immune to the struggles of mounting debt. Active duty military personnel can have a particularly difficult time dealing with debt issues if they are single with no family and away from home. Some debt relief can be found, however, under the Servicemembers Civil Relief Act (SCRA). What does [...]

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3 Drawbacks of Debt Settlement

March 30, 2010

Regular readers of the DIY Debt blog know how important it is to fully research the different debt reduction strategies available before deciding which one is most appropriate for you and your specific situation.There is no substitute for doing your own homework and fully educating yourself on the pros and cons before committing to a [...]

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How To Keep Credit Card Banks Out Of Your Checking Account

March 29, 2010

If you have decided that the debt settlement strategy is the best solution to address your debt problems, before you get started, you should become aware of cross-collateralization and take the necessary steps to protect your money. What are you talking about? A bank can reach into your checking or savings account and take the [...]

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Understand the Lingo: Write-Off vs. Charge-Off

March 26, 2010

If you think the terms “write-off” and “charge-off” mean the same thing, you’re not alone. Many people aren’t clear about the difference between the two. If you are experiencing financial struggles and are behind on your debt payments, understanding what these terms mean will be very helpful as you navigate your way out of debt. [...]

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Here We Go Again: Deceptive Debt Settlement Advertising

March 25, 2010

The debt settlement companies are circling like vultures again. With the soaring number of consumers who are undergoing financial struggles, we are once again seeing many debt settlement companies undertaking the age old practice of deceptive advertising. This time they’re doing it through the mail. Along with TV and radio, misleading debt settlement ads seem [...]

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Hiring A Debt Settlement Company Is Like Throwing Away Money

March 24, 2010

Regular readers of the DIY Debt blog know that a debt settlement company can’t do anything for you that you can’t do yourself. Debt settlement companies charge extremely high fees, usually in one of two ways: as a percentage of your total debt amount, or as a percentage of your savings. They are also notorious [...]

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How To Avoid Creditor Lawsuits

March 23, 2010

If you are one of the many people struggling to pay back your debts, one of the things you’ve probably wondered about is the likelihood of being sued by your creditors. And if you’ve ever had a consultation with a debt settlement company and asked the debt consultant (aka sales rep) about this, it’s very [...]

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When Will Negative Information Come Off Your Credit Report?

March 22, 2010

Regular readers of the DIY Debt blog know how important it is to have a comprehensive understanding of how credit score reporting works. We’ve tried our best to explain in plain English how credit scores are calculated, how to fix errors on your credit report and how to effectively rebuild credit so readers can educate [...]

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How To Rebuild Your Credit Using Secured Credit Cards

March 19, 2010

If you are suffering with bad credit, you know how difficult it can make your life. Bad credit can hold us back from doing various things like financing a new purchase to renting an apartment to even getting certain jobs. The most common causes of bad credit are defaulting on debts and filing bankruptcy. Well, [...]

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How To Fix Errors On Your Credit Report

March 18, 2010

Errors on credit reports are pretty common. In fact, I read somewhere once that 3 out of every 4 reports have errors of some kind. Sometimes errors occur due to an innocent mistake and other times it may be a result of sloppy data entry. A relatively easy way to improve your credit score is [...]

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