Month: October 2015

The Wealthy, as Well as Middle Class, Can See Real Benefits From a Reverse Mortgage

Posted by admin on October 30, 2015


When used properly and with correct planning a reverse mortgage can be a
useful tool for both the middle class and even wealthy borrowers. The
key lies in analyzing the borrower’s current needs and making the best
decision for them.

Typical Situation for Middle Class


Many people in the middle class work in a career for 30+ years and
retire in their mid to late 60’s with a home that is either paid off or
close to being paid off within a handful of years. Thankfully, paying
off the mortgage will free a sizable portion of their income.
Unfortunately, most people retire with a noticeable decrease in their
monthly income.

A reverse mortgage can help this situation in a
number of ways. The easiest solution is to borrow 65% to 70% of the
home’s value and receive monthly payments. The payments will usually be
enough to offset most of the loss in income. A second method is to get a
lump sum distribution and use the money to invest in safe resources
like bonds and low risk mutual funds that will yield enough interest to
supplement the borrower’s income. Other possible resources that can be
purchased would be rental property or a silent partnership in a stable
company.

Typical Situation for Moderately Wealthy


People that have been accustomed to a 6 figure job will find it
mentally and emotionally difficult to drop down to a slightly less
expensive lifestyle when they retire. Fortunately, these individuals
usually have homes that are in the higher price range of $400,000 and
up. With homes at these price levels it is possible to get a higher
reverse mortgage amount. The current maximum reverse mortgage amount is
$625,500 but that may likely change at the beginning of the new year
back to $417,000.


Even at the lower amount it is still possible for borrowers to get a
sizable loan and use it for investing purposes. Like the previous
example, the borrowers can use the money to invest in multiple ways. The
difference is that the bigger amounts would allow for a wider range of
diversity.

For instance, if a couple aged 65+ chose to get a $400,000 loan they could use the money in the following way:


Purchase a modest home for $125,000 and rent it out for $875 to $1125
per month, depending on the areaInvest $100,000 in bonds and mutual
funds that are yielding between 4% and 5% annually, resulting in $3,300
income per monthBuy a vacation home in the mountains or the beach that
averages $400 per month in rental incomePut $50,000 away in savings for
possible medical bills

Grand total of monthly income from investments: $4,575


As you can see, a reverse mortgage can literally change a person’s
financial status in a short amount of time and put them in a much better
position to live a comfortable life while also building up a sizable
nest egg to leave to their children.

Exawealth Get All The Banking Products And Financial Services at Same Place

Posted by admin on October 29, 2015

Customer-centricity is the buzzword in the banking and financial
services industry. The latest competitive trends in the industry have
been engaging financial institutions across the world in a neck-and-neck
race towards achieving maximum customer acquisition and customer
retention through innovative customer-centric steps:

Stiff competition among the existing players and new
entrants in the market drive the banks to increase their market share by
introducing integrated product offerings, enhancing customer loyalty
and selling more to the existing customer base. Exawealth is uniquely
positioned to offer consultancy services for the billing and pricing
requirements of any transactions-based industry. Coupling expertise and
deep domain knowledge synchronised with the changing industry dynamics,
our consultants help service providers mould pricing strategies for
their products and services, to suit the exact needs of their individual
customers. They provide insightful analyses and strategies to maximize
benefits of the service providers’ investments and to enhance their
competitive advantage.

Product commoditization and fluctuating
interest revenues force the banks to seek new revenue streams by
introducing more fee-based products and to achieve market leadership
through pricing.

Exawealth’s consultancy services enable service
providers to build the exact transformational strategy required for
remaining competitive, while combating the challenges in the
marketplace. Banking on us, you can concentrate on remaining attractive
to your customers, using technology that enables creation of innovative
products and services and effective loyalty programs for your
customers/segments.

Propelled
by these factors, banking in the modern era is oriented primarily
towards building and retaining strong bonds with customers. However, the
momentum of the banking service providers towards customer-centricity
is often hindered by product silos and primitive product-centric pricing
methods.

Insurance agents, with their life insurance or individual retirement account almost play the same role in money investment.

Exawealth’s
solutions enable banks and financial institutions to achieve true
customer-centricity by building strong relationships with their
customers. They are designed on the Relationship-based Pricing
framework, which enables:

Is it a Good Idea to Use a Personal Loan for Debt Consolidation

Posted by admin on October 25, 2015

For most people, debt problems become even more prominent after the
holidays, when people with lingering debts turn to debt consolidation by
taking out personal loans. In some situations a personal loan can be a
solution as it allows you to consolidate all your debt into one, easily
manageable payment, providing a straight-forward way to manage debts.
The question we need to ask ourselves, however, is whether taking out a
personal loan is actually necessary to eliminate your debt.

Personal loan for debt consolidation


For those trying to get out of debt, a personal loan can be a solution.
When these types of loans are used appropriately, they can provide a
way to pay off high-interest credit card debt for instance. If they are
not used appropriately, however, they can put you on the fast track to
further debt and cause lower credit ratings as a result. It is important
for people to keep focusing on their objectives when they take out a
personal loan:

Responsible money management is key


Creating future plans means drafting a plan of action to help you avoid
debt in the future. What can make taking out a personal loan turn into a
debt disaster is when people are irresponsible with the money they
borrowed. Some people consolidate their debts into a more workable and
affordable alternative, but then they somehow manage to acquire even
more debt, which completely defeats the objective of the consolidation
loan, creating a situation where they slide even further in the debt
trap.

Be realistic and look past the convenience factor


When you look at it realistically, using a personal loan for debt
consolidation actually means ‘stealing from Susan to pay Jane’, or in
other words, you are basically transferring your debts from one place to
another without in fact making a lot of progress. Yes, one loan
repayment means that there are fewer bills to pay every month, but it
does by no means mean that it is the ideal way to become debt-free.

Before you take out that personal loan


Find creative ways to tighten your budget and reduce your spending, and
try to get rid of your debt in alternative ways before resorting to
taking out a personal loan. Sometimes, all it takes to get on the right
track is tweaking your spending habits. Also take the interest rates
into consideration, especially when you are taking out a personal loan
to consolidate your debts, banks will know that you are not exactly the
ideal borrower and increase their interest rates to minimise risk.

Other alternatives


Sometimes, speaking to your bank about credit card arrangements can
literally pay off. You could, for instance, try to negotiate a lower
interest rate for a couple of months so that you can ‘buy’ some time to
increase your income. You could also opt for re-financing your vehicle
or apply for an access bond.

Conclusion


Debt consolidation loans can help you reduce your number of debts, but
remember that it is not an ideal solution. First, consider alternative
options in terms of curbing your expenses, or find ways to create
additional income. If you do end up deciding to get a consolidation
loan, make sure you make regular payments and work these amounts in your
monthly budget.

Useful Information and Tips For Debt Consolidation

Posted by admin on October 20, 2015

It’s an understatement to say that debt is harmful to our lives.
People can get the relief they need by learning about debt
consolidation. Get a start with the following tips.

Let creditors know when you’re working with credit
counselors of a debt consolidation service. They may decide to work
directly with you instead, saving you money. Your creditors may not be
aware that you are trying to work with someone to resolve your debt. You
may be able to help your cause when they know you’re attempting to work
things out.

Many people can see lower monthly payments if they
just call their creditors. Many creditors work with debtors because it’s
better for them to get some amount of payment than nothing at all. If
you can’t afford a payment, call the creditor and discuss your
situation. You may be able to negotiate a better deal.

Look for a
debt consolidation loan with low fixed rates. A loan without a fixed
rate may leave you wondering how much you owe each month. Choose a loan
which has favorable terms, a great rate and the ability to pay off your
debts in full.

Look into exactly how the interest rate is
determined. The best option is a fixed interest rate. That means you
will understand how much you will pay in total. Adjustable rates on a
debt consolidation programs should be avoided. You may even end up
paying more in interest.

When you’re going through the debt
consolidation process, understand what got you into this mess. You
certainly do not want to repeat the same mistakes going forward. Try to
develop new strategies for managing your finances so this doesn’t happen
again.

Sometimes, you can use your retirement or 401K money to
pay for credit cards. You’ll need to repay the money to your retirement
account though, so make sure you take that into consideration first. If
you don’t, you will pay huge fees.


If the plan is to go with a debt consolidation service, do research
first. If you notice that the counselors do not ask you specific
questions about your financial situations and want you to quickly sign
up with them, avoid them. Their program should be specific to you and
your circumstances.

Think about talking to creditors before
doing debt consolidation. For example, ask your credit card company if
they will give you a break on your interest rate if you cut up the card
and stop using it, moving to a fixed rate plan instead. You don’t know
what they’ll offer you until you try.

Before using a credit
consolidation company, ask them what their privacy policy is. It is
important that you are aware of how they store your private information.
Determine whether or not they encrypt your files. The more secure the
system, the less chance your identity will get stolen.


Refinancing your mortgage may allow you to consolidate your debts. The
money left over from your payment reduction can instead go towards other
debts. This may save you more money and time over consolidating your
debt.

Think about your financial goals on the long term before
applying for a debt consolidation program. If you plan on taking your
time to pay your debt off, using a debt consolidation service might not
be necessary. If you want to finance a project now, consolidating your
existing debts may help you free up some cash.

Debt can wreak
havoc in your life. If you’re in the situation where you have too many
bills to manage, debt consolidation may be your way out. Hopefully, this
article has pointed you in the right direction of financial recovery.

Professional Financial Services Can Help Take Your Business on a New Level

Posted by admin on October 20, 2015

All of the persons are well known of the fact that, in the life of
all, there are ups and downs in the life of everybody. The professional
financial services are helping the clients who come to take the help
from the service. The service personnel are so much helpful that they
take the responsibility of making improved the financial sections of the
clients so that the next period of time of the clients will go smoothly
or the period of misfortune to be overcome. The experts suggest and
look after all the data of the clients that are well discussed by them
and after discussing all, they will suggest all the relevant matters so
that the client will be beneficial in the field of financial sections.
the experts look into the personal loans taken if any, tax and return of
tax, any legal agreement done to any and likewise they suggests the
best fit insurance of any life plan that will be able to make cash flow
insistently. Sometimes, they suggest some loans from the believable
source so that the term payment of the loan will be minimum amount and
thus the client will get the maximum benefit from lower interest.

The professional financial services are experts, who
listen to the urge of the clients. They prefer the plans and decisions
of the clients and at the meantime; they suggest the maximum benefit
plans for the clients so that the client might be secure for life or at
least till the injured period of time. After taking all the information
of the background of the person came to the experts, they suggest the
best family or personal beneficial plans in the economical background.
In all the time, the aim of the experts to take care of the permanent
cash flow that will be helpful for the current situations.

These
service experts are not directly related to any of the insurance
corporation and any loan providing associations. The professional
financial services just suggest all relevant matter that can improve the
current situations of the clients. Sometimes, they suggest for jobs
that are relevant to the clients and take care of the matter that the
job might be secure. In time of retirement, they also take care of
securing the retirement benefits and permanent cash flow till the life’s
end. They also acquire belief from the clients by taking no charge in
time of verifications and providing information, they only charges when
the clients are well in financial field.

Financial Debt and Sleep Deprivation – A Chicken and Egg Situation Learn How To Break The Cycle

Posted by admin on October 17, 2015

Massive
financial burden usually leads to lack of sleep, but did you know that
sleep deprivation actually triggers greater financial problem? People
are more accustomed to the idea that lack of sleep is normally a result
of financial problems and difficulties. However, recent studies show
that sleep deprivation can also lead to greater economic difficulties
and the cycle continues.

According
to research, chronic lack of sleep substantially affects the quality of
decisions which people make. Due to certain activities in the brain,
sleep deprived individuals are very likely to produce decisions which
can later lead them to greater financial difficulties.

Today,
there are lots of scientific researches confirming the links between
sleep deprivation and lack of judgment and poor attention, learning and
memory. There were only few researches which have verified the
connection between lack of sleep and debt. This article will shed light
on the clear connection between the debt making behaviours of people and
their inability to obtain adequate amount of high quality sleep.

In
one study, it was concluded that sleep deprivation significantly
influences the quality of decisions of many people. The study involved a
gambling task to determine the effects of lack of sleep. The
researchers claimed that sleep deprived individuals are more likely to
make unsafe decisions, and they are more inclined to prefer high reward
choices in spite of their low probabilities. The participants of the
said study would prefer the very slight chance of winning large amounts
of money than choosing the same option to prevent losses.

Due to
chronic lack of sleep, the prefrontal cortex area of the brain tends to
suffer. This leads to the difficulty with attention, judgment and
decision making. These qualities are said to be important in making
rational decisions in managing your money.

This is a very simple
explanation on why people who gambles in casinos are very likely to make
debts. Gambling in a well-lit and bright place keeps gamblers awake all
night long. However, as hours pass by, the effects of lack of sleep
begins to sink in and gamblers begin making irrational financial and
economic decisions.

In a study involving 29 individuals, the
participants were asked to gamble after getting a good night sleep. A
week later, they were asked to gamble again after having been deprived
from sleep for a night. The results significantly varied.

During
the first session where gamblers were able to obtain adequate amount of
high quality sleep, the participants have shown deep concerns about
protecting their money and minimizing their losses. The first gambling
session took place at 8 in the morning after the participants have slept
all night.

On
the other hand, the second gambling session took place at 6 in the
morning following a night of wakefulness. The scientists have noticed
that the participants made very risky approaches without considering the
impacts of their actions and decisions. They have actually elicited the
phenomenon known as the “optimism bias”. It is a condition where
individuals have a greater faith that positive outcomes are more likely
to prevail. The possibility of losing money is not very unlikely but it
is not as harmful as it seems.

Research shows that people who get a
high quality of sleep at night are more likely to produce better
decisions but are less likely to create losses and debt. A certain
region in the brain known as the anterior insula is activated to reduce
its losses in whatever undertaking.

On the other hand, for sleep
deprived individuals, the ventromedial prefrontal cortex region of the
brain is activated. This region is directly linked with the gain-seeking
behaviour of some people. The activation of this area of the brain is
also responsible for increased risk taking behaviour of people. When
this region is activated, people are more likely to engage in certain
risky activities without taking considering the risks involved. When
people are sleep-deprived they are very likely to become attracted to
the idea of winning without caring much about their losses.

In a
scientific study conducted at the Duke University, the researchers have
concluded that sleep deprivation creates a significant impact on the
economic decisions of individuals. The participants of the said study
were asked to perform several financial undertakings in the morning
first, after they have taken a good night sleep, then after they have
sleep deprived.

Using the MRI scan, the researchers were able to
identify the effects of lack of sleep on the decision making of some
individuals through the mechanisms of how the brain works. According to
the results of the MRI, people who are sleep deprived have an active
portion of the brain which anticipates optimistic results. On the other
hand, there was a decreased activity in the region of the brain where
negative outcomes are anticipated. This simply means that a sleep
deprived individual may think that a risky decision is not as risky as
it really seems. This triggers him to get involved in some risky
choices.

With the scenario presented above, it can be concluded
that the cycle of debt and sleep deprivation resembles the cycle of egg
and chicken situation. It is not actually a question of which started
which. The more important thing is, you should find immediate, long term
and effective solutions to your problem now as it can lead to more
serious financial situation if left uncontrolled. Better do something
about your financial problem now, as debt has already begun making a
toll to your mental, emotional, social and physical health.

What You Need to Know About FHA Mortgage Loan

Posted by admin on October 16, 2015


Before going into the specifics of the FHA loan, it’s crucial to first
address the question: what is a mortgage? You might be surprised to know
how many people don’t understand the terms they signed up for, as
proven by the housing bubble that burst and left hundreds of thousands
of Americans homeless. In basic terms, a mortgage is a collateralized
debt you will take on to pay for your home. Once you default on payments
for a certain period, the bank can take away your home.

What is FHA loan and is it right for me?


The FHA loan allows for a loan downpayment, which makes it attractive
for first time buyers. Why would banks agree to lower the payments for
home loan rates? That’s because the loan is insured against default by
the Federal Housing Administration. Once you default on payments, the
FHA will owe the lender. In theory, nearly everybody can qualify for an
FHA since it doesn’t place a cap on income.

There’s no minimum
credit score under the FHA, or to rephrase it: your credit worthiness
will be assessed individually. Theoretically, even if you have filed for
bankruptcy you are still going to qualify for an FHA . However, even
with the FHA , some lenders might still use your low credit score
against you.

FHA is not a lender


You don’t apply at the FHA for a home loan because it’s an insurance
fund. You need to deal with lenders that are certified by the FHA.
Again, the cost of mortgage can vary from lender to lender, and from
location to location. You won’t be approved, for example, if you take
out a loan greater than the average housing prices in your area. That’s
why it’s crucial that you ask around to get the most attractive home
rates.

What about insurance?

When you
take out an mortgage, grandfathered into the contract are two insurance
premiums: the upfront premium which represents about 2.25% of the total
loan amount as well as the annual premium which is 0.55% of the amount.
You can either pay the upfront premium when you take out the loan or can
be incorporated in your home rates. The annual payment, meanwhile, will
be paid along with the monthly mortgage payment. You must however do
your due diligence and compare the FHA with the rates offered by non-FHA
accredited lender to find out which is better.

Mortgage Market Review and Its Impact For Borrowers

Posted by admin on October 15, 2015

Robin Hood was famous for robbing the rich to give to the poor and
you could be forgiven for thinking that today the very wealthy were
attempting the reverse that situation when it comes to securing the best
mortgage deals. It appears that there is one set of rules for some and a
different set of rules for others, with wealthier borrowers now being
exempt from certain legislation and criteria imposed on mainstream
borrowers. However taking a ‘one size fits all’ approach to lending
really benefits no-one and the main point of regulation is to protect
the best interests of each individual client.

The Mortgage Market Review focuses on “Treating
Customers Fairly” and trying to hard wire a more conservative, but
common sense, approach to all areas of lending. However, some of the
changes are indeed a bonus for high net worth borrowers.


Firstly, entrepreneurs (business people borrowing against their homes)
will enjoy far more flexible criteria and even be able to ‘opt out’ of
standard affordability checks providing they can offer a credible
business plan. However, if banks remain unwilling to lend then more
traditional alternative funding routes typically used by entrepreneurs
may still be the quickest and simplest option.

Secondly, High
Net Worth (HNW) individuals, which are typically classed as those
earning upwards of 300,000 per year in the UK or those that have a net
asset base of 3,000,000 or more, can also enjoy a greater degree of
flexibility and be able to opt out of standard criteria tests when
borrowing a mortgage. The exemption for High Net Worth (HNW) borrowers
from stringent affordability criteria provides lenders with the
opportunity to be flexible when regular checks are not relevant for
certain categories of clients. Many HNW clients have a high level of
complexity with regards their income and assets. Many have irregular
income but their personal or family wealth is so vast that a standard
affordability check are effectively pointless as the risk to the bank or
other lending institutions is minuscule.


All things considered, the Mortgage Market Review willingness to show a
reasonable degree of flexibility for high net worth individuals must
surely be welcomed by all; both by the borrowers themselves but also by
the lenders, which have been freed from irrelevant legislation in
certain circumstances.

Obviously no one wants to see a return to
the days of the overly-easy credit available with minimal checks,
before the global financial crisis. This was one of the main reasons for
the economic predicament in which we now find ourselves embroiled in
the UK, Europe and the USA. But sensible lending does not have to mean
that checking the credit worthiness of a large mortgage borrower can be
done effectively by purely a box ticking exercise and disregarding
anyone who does not fit a particular profile; some common sense must
always be brought into the equation. This is good news for high net
worth mortgage borrowers as a whole and finally a common sense approach
has developed in the mortgage market that has been lacking for too long.

What Does It Mean – A Short Mortgage Glossary

Posted by admin on October 13, 2015


When you are seeking a mortgage it may seem that the process has a
language of its own. Many times there are terms used that can be
confusing or unknown, but are important things for a borrower to
understand. The following list contains some of the more common mortgage
terms and briefly explains them. It is not meant to be exhaustive by
any means and it is always important to make sure that you fully
understand any unknown terms you encounter. Don’t be afraid to speak up,
your lender would be more than happy to explain them.

Adjustable Rate Mortgage (ARM)


This is a type of mortgage with interest rates that can fluctuate based
on market conditions over the life of the loan. Typically an ARM will
have an introductory rate and a monthly cap on the maximum monthly
payment allowed.

Amortization

This is
the progression of decreasing principal over the life of a mortgage.
Each loan payment includes a payment to the principal and a payment to
the interest. An amortization schedule is a document that includes each
payment and reveals the changing ratio of principal and interest and how
the principal will decrease over time.

Annual Percentage Rate (APR)


This is a measure of a loan’s full cost and includes interest and fees
in terms of a yearly percentage rate. Federal law requires all lenders
provide their annual percentage rate so borrowers have a way to compare
the total cost of a loan over time.

Assumption

It is an agreement in which a buyer takes over the existing mortgage and the payments to a lender.

Blanket Mortgage

This is a mortgage that will cover at least two pieces of real estate as security for a single mortgage.

Closing

This is the final meeting between a buyer and seller or their agents in which a property legally changes hands.

Closing Costs


These are expenses that are in excess of the purchase price and can
include items such as origination fees, title insurance, escrow costs,
appraisal fees, and others. Closing costs will vary depending on
location and lender.

Consumer Reporting Agency


These are organizations which monitor individual credit activity and
history to determine the risk a lender must take on to provide someone a
mortgage.

Conventional Loan

This is a
type of mortgage that is not insured by the federal government.
Typically conventional loans require a larger down payment and a higher
credit score.

Default

This is the
failure to make mortgage payments as specified in the mortgage
agreement. Defaulting on a mortgage can lead to foreclosure.

Earnest Money

It describes the process of a buyer giving money to a seller that is included in the purchase price to secure a sale.

Equity


This is the difference between the fair market value of a property and
the current amount of debt an individual holds on that property.

Escrow

It is an account set up that the buyer pays into that can cover expenses such as taxes or insurance payments.

FHA Loan


This is a loan that is insured by the Federal Government allowing
individuals who are unable to qualify for a conventional mortgage to
purchase a home.

FHA Mortgage Insurance

Insurance required when obtaining an FHA loan. The insurance amount is paid in monthly installments.

Fixed Rate Mortgage

This is a mortgage that has a locked mortgage rate which does not change over time.

Foreclosure


This is a process in which the lender can force a sale of a property
when a borrower does not meet the terms of a mortgage agreement.

Interim Financing


This involves loans such as construction loans which are temporary
financing options during a building project. Typically a construction
loan will be replaced by a permanent mortgage when the building is
completed.

Lien

A Lien is a legal claim
on a property by a lender which is held until a mortgage is paid in
full. It protects the lender in cases of default.

Maturity

This is the date that a loan’s principal balance becomes due in full.

Origination Fee


This is the fee which includes costs for a lender’s expenses including
loan document preparation, credit checks, property inspections and
appraisals, and other possible fees.

Points


Mortgage Points describe prepaid interest by the borrower which is
assessed at the time of closing. One point is the equivalent of one
percent of the loan amount. Points that are purchased may be able to
decrease monthly mortgage payments.

Refinance


Refinancing a mortgage is essentially taking out a new loan to replace a
prior loan on a property. Common reasons for refinancing are lower
available interest rates or access to funds made available because of
equity.

Security

Security is the property that a lender holds a lien on as collateral for a mortgage loan.

Underwriting


Underwriting is the process of researching and reviewing information
about a borrower and making a determination on approving a loan. It also
includes matching the level of risk with an appropriate interest rate
and loan amount.

These are the most common terms you will need
to know to understand when considering a mortgage. As mentioned before
if you don’t understand a term, don’t hesitate to ask your lender. You
need to understand exactly what you are getting into when applying for a
mortgage.

Settle Your Debt in Carlsbad, California

Posted by admin on October 5, 2015

Many consumers across the Carlsbad area are concerned about their
mounting debt balances. When debt balances reach a certain level, it may
seem as though the outstanding balance owed simply grows on its own or
that the balance has stagnated. It may seem impossible to reduce the
debt balance through your own efforts. Through interest charges and late
fees charged due to your struggle to make the minimum payment on time,
you may barely see a dent in the balance from month to month. If you are
continuing to use an account to make new purchases, the balance can
easily grow. Those who have been struggling with their debts may
consider the benefit of debt settlement Carlsbad California from DAGonDebt.

DAGonDebt.com is a local leader in financial debt relief tools. When you visit this website, you can learn more about debt settlement Carlsbad California,
consolidation loans and other options available to you for debt relief.
Settlement is one of the most popular options available for those who
are struggling significantly with debts. Consolidation loans are often
considered to be an initial option to select due to the fact that a
consolidation loan will not trigger a negative event on your credit
report. However, for those whose credit has already been affected by
their financial woes or for those who are so heavily burdened by debt
that a consolidation loan will not provide effective relief, settling
debts may be the ideal solution.

With debt settlement Carlsbad California from DAGonDEBT.com,
a debt negotiator will contact your creditors to negotiate a reduction
in the outstanding balances owed. A portion of the balance owed to a
creditor may be written off. While this can create a negative event on
your credit rating, the long-term effects can be beneficial. This may
provide you with the ability to more easily pay off the balances on your
own by making regular payments to your creditors. In many cases, a
consolidation loan may be used in conjunction with settlement for
improved results. If you believe that you may benefit from debt relief,
contact DAGonDebt.com today to explore your options.