The Debt Management Expert

Pros of a 30-Year Fixed Mortgage With interest rates at a historical lows, consumers are racing to refinance their homes. In many cases consumers reach for the traditional 30-year mortgage. This loan locks in the incredibly low rates we see today for thirty years and in most cases gives the consumer a much lower payment […]

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Do you know where your debit card is? It is essential to your overall financial security that you keep your debit card in a safe place at all times. Safety, above all else, is of utmost importance. If you are careless with your debit card it is only a matter of time before it backfires on you.
What does it mean to be safe with your debit card? Well, this means different things to different people. To give you an idea of how to improve the safety of your card, follow the tips below.
1. If you lose your debit card do not wait too long to call your bank. The biggest mistake you can make is thinking that you are going to find your card in the near future – just to learn that this never happens. It is better to be safe than sorry. Call your bank, explain that your debit card is missing, and have them cancel it at once. Sure, it is an inconvenience but you will receive your new card in no time at all.

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Can I use a debit card to build my credit? This is a common question, especially among younger individuals as well as those who have had credit issues in the past. Most people are aware of the importance of an above average credit score. While this may not sound like a big deal, the higher your score the better chance you have of securing a loan in the future. Along with this, it can help in many other aspects of your life, such as when applying for a job.

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There are many pros and cons that go along with using a debit card. It is important to be aware of both the good and bad. Once you know the benefits and drawbacks, you can do what you can to avoid the bad and focus on the details that will better your financial situation.
Pros
1. Convenience. With a debit card you never have to use cash or check again. Instead, you can use it just like a credit card – except the money coming out of your checking account. Not only is it convenient to use a debit card at local stores, but the same holds true with online purchases.

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There has been lots of press on the topic of Loan Modification. You can negotiate with your bank to modify your loan yourself or by using a third party expert. The government has also now gotten involved and set up a special program to help consumers modify their loans but not everyone qualifies for the government’s bailout loan modification program. Read ahead to see if you qualify for a government bailout or loan modification as part of the Obama Plan. If you do this is a great way to manage your debt and get back on your feet.

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Signing up for a debt management plan may give you more breathing room in your monthly budget, but will it hurt your credit? Not as much as you may think. Using a debt management plan to pay off debt won’t hurt your credit score, but it may make it difficult to qualify for new credit.

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Debt management or debt settlement companies can often save you time and trouble when it comes to debt consolidation. A benefit of using a debt management company is the ease of the transition from having many, smaller debts to having one larger one.

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