Finding Unsecured Debt Consolidation Loans

It’s true that unsecured debt consolidation loans are harder to get when you have bad credit, but some lenders are willing to help you some of the time. These are often lenders who specialize in bad credit loans or sub-prime loans. Some such lenders offer personal loans having fixed monthly payments that you can use to consolidate your debts into one larger monthly amount.

Most unsecured debt consolidation loans with bad credit will have some features in common. First, they will require a higher interest rate than secured loans. Sometimes it’s much higher. For example, if you can get a home equity loan (which counts as a secured loan) for debt consolidation, you might be paying 10 percent interest if your credit is shaky. But an unsecured personal loan might cost you at least twice as much in interest if you have bad credit.

Choosing the Best Unsecured Loan for You

The best strategy is to compare lenders. Get quotes from two or three and look for the best terms and interest rate. That’s how you can find the best solution for your specific situation. And don’t rule out a secured debt consolidation loan. These are usually more affordable, especially when you have bad credit.

Resources for Unsecured Debt Consolidation Loans

For more information on specific companies who provide bad credit loans, see our resource page about unsecured debt consolidation loans with bad credit.

In reading this week’s submissions I found many to like, and two that really stood out. They are hereby awarded the Necessary Virtues Order of Merit for outstanding contribution:

• Mark Shead’s outstanding piece on The Debt Mindset from Debt Consolidation. It begins provocatively:
  

  “Many people just expect to be in debt. It is part of their world view…”

• The current installment of Erek Ostrowski’s invaluable series, Getting Out Of Debt (Part 2) from Verve Coaching. I look forward to the next article.

Here are all those that made the cut listed in mostly chronological order, with a little treat at the end. Enjoy!

Matt Hutter kicks it off with tips on How To Avoid Using Credit Cards and the benefits of purchasing with cash rather than plastic.

Next is a timely seasonal offering from Ririan with 20 Fabulous Tips To Holiday Spending that range from proper planning to debt avoidance to identity theft protection.

From Andy at Money Walks comes 5 Reasons why people are in debt, including a wake-up call for university students to graduate debt-free.

Andy Boyd offers us a refreshingly honest and direct look at his personal finances and his plans for getting out of debt in My Credit Card Debt Repayment Plan. This is a valuable contribution in that it’s all practice and no theory.

Next we have a great series of tips from Joe Caterisano on How to save money. He points out that small changes in our behavior can reap large benefits.

From Free Money Finance comes How to Pay Off a Boatload of Debt Quickly, a helpful, concise summary of an article originally published on MSN MoneyCentral.

Mark Shead contributes a very thought-provoking piece on The Debt Mindset. He points out how much our lives are influenced by our past experiences and our present associations. Highly recommended, particularly for anyone who has struggled to change their behavior in relation to money and debt.

From Waller we have a wonderfully passionate and practical article on Reducing Debt With A Snowball. If you’ve been making minimum payments on your credit cards, you have to read this!

Erek Ostrowski continues a valuable series with Getting Out Of Debt (Part 2). This installment is all about making detailed plans to achieve specific goals that contribute to your overall goal. The most important part? Follow your plan!

Trent tells us that debt has driven him to some pretty desperate measures in the past, including surviving for a month on only $10 worth of food. He gives us twenty tips on how it can be done in Nourishment on a Desperate Income.

From Steve Faber we have Debt Elimination Scams to Avoid – You’ll Just Pay Twice, which gives details of two scams that prey on desperate debtors.

The next article is really a call for discussion from Ben, who asks What was the World Like Before Credit Cards?. You can post your answers on his blog.

Jim clarifies a distinction that many find mysterious in Student Loan Deferment vs. Forbearance. If you have a student loan, make sure you know the difference.

From the Prince of Thrift we hear that the worst of the worst get the Lemon Award for Bad Banking, and the finalists are… Lemon Award Finalists Named on CreditCard.org’s Website.

Next Sagar Satapathy presents a comprehensive set of 101 Financial Tips you Never Learned in High School (but should have). Be sure to read all the way to tip 101!

Joe Caterisano returns with What is a FICO score?, offering a concise guide to the factors that comprise your FICO score.

Henry of Binary Dollar continues his personal chronicle with The Race to $0: December 2006 Net Worth (+$3,284). He continues to retire his student loan while adding substantially to his retirement savings.

No Credit Needed contributes this Sure-fire Debt Reduction Process. It’s simple and it actually works. You just have to be willing to follow it.

And to round off this week’s offerings, we have a humorous Ode To Prosperity from Madeleine Begun Kane.

Next week’s host, on December 11, is Blunt Money. Thanks for visiting, and happy holidays to all!

2. A budget empowers you to take control of your money instead of letting your money control you.

3. A budget can improve your marriage. The number one cause of marital strife is money. Your budget is a neutral tool to help you and your spouse communicate rationally about money. It can help to give you a common purpose and to minimize arguments about money.

4. A budget helps you prepare for emergencies. The top causes of bankruptcy are sudden unanticipated expenses or job loss. When you have an emergency fund, you are much more likely to get through a situation that would otherwise sink your financial ship.

5. A budget makes money available so that you can use it on the things that really matter to you rather than impulse purchases.

6. A budget can help get out of debt or stay out of debt.

7. A budget gives you peace of mind. You won’t lie awake at night due to worry about your finances.

Budget Q & A

What exactly is a budget?

A budget is a realistic reflection of your current financial situation plus a projection into the future based on reasonable predictions. So it’s both a snapshot and a plan.

I’m new to budgeting. What’s the best way to get started?

First, do your homework. There is lots of budgeting advice available in bookstores and online. You can download our favorite budgeting guide for free in e-book form right here.

Second, keep track of your actual expenditures for at least a month. Write down every penny. You’ll be astonished at the money leaks you discover.

Third, plunge in and make your first budget. It will undoubtedly need tinkering and adjustment, so don’t let the desire for perfection stop you in your tracks. Make a budget, compare your actual expenditures to the budget, and see where you have to change the budget or your spending. It’s a process, not a single destination.

Looking for a way to organize your budget online? There is one service we recommend above all others. Click here to find out more or click here to get started right away with a free trial.

Excerpted from The Master Key System, by Charles Haanel.

Some men seem to attract success, power, wealth, attainment, with very little conscious effort; others conquer with great difficulty; still others fail altogether to reach their ambitions, desires and ideals. Why is this so? Why should some men realize their ambitions easily, others with difficulty, and still others not at all? The cause cannot be physical, else the most perfect men, physically, would be the most successful. The difference, therefore, must be mental – must be in the mind; hence mind must be the creative force, must constitute the sole difference between men. It is mind, therefore, which overcomes environment and every other obstacle in the path of men.

When the creative power of thought is fully understood, its effect will be seen to be marvelous. But such results cannot be secured without proper application, diligence, and concentration. The student will find that the laws governing in the mental and spiritual world are as fixed and infallible as in the material world. To secure the desired results, then, it is necessary to know the law and to comply with it. A proper compliance with the law will be found to produce the desired result with invariable exactitude. The student who learns that power comes from within, that he is weak only because he has depended on help from outside, and who unhesitatingly throws himself on his own thought, instantly rights himself, stands erect, assumes a dominant attitude, and works miracles.

It is evident, therefore, that he who fails to fully investigate and take advantage of the wonderful progress which is being made in this last and greatest science, will soon be as far behind as the man who would refuse to acknowledge and accept the benefits which have accrued to mankind through an understanding of the laws of electricity.

Of course, mind creates negative conditions just as readily as favorable conditions, and when we consciously or unconsciously visualize every kind of lack, limitation and discord, we create these conditions; this is what many are unconsciously doing all the time.

This law as well as every other law is no respecter of persons, but is in constant operation and is relentlessly bringing to each individual exactly what he has created; in other words, “Whatsoever a man soweth that shall he also reap.”

Abundance, therefore, depends upon a recognition of the laws of Abundance, and the fact that Mind is not only the creator, but the only creator of all there is. Certainly nothing can be created, before we know that it can be created and then make the proper effort. There is no more Electricity in the world today than there was fifty years ago, but until someone recognized the law by which it could be made of service, we received no benefit; now that the law is understood, practically the whole world is lit by it. So with the law of Abundance; it is only those who recognize the law and place themselves in harmony with it, who share in its benefits.

Do you have a manageable debt problem? Maybe a life event, like temporary job loss or sickness, may have put you a bit behind on your payments. Or maybe you just let your small debts add up to the point that you feel they may be getting out of control.

If this sounds familiar, then you need to take action now. Follow these four easy steps, and you’ll soon be back in control.

Step 1. Stop accumulating new debt!

This is the first and most important step. If you keep charging, you will dig yourself a deeper hole. If you can’t take this step, you may as well stop reading now. The rest of this article will not be helpful.

Step 2. Prioritize your payments.

Make a list of all your monthly obligations. Then arrange them in order of priority. Start with those that you can’t do without, like your mortgage payment and your utilities.

Next are the credit cards and store cards that charge the most interest. By paying off the cards with the most interest you can reduce the amount of interest calculated on your next bill. This means you will pay off your entire debt as quickly as possible.

If you can get a balance transfer offer to another card with a lower interest rate, and if there is no transfer fee, it may be worthwhile to transfer your credit card balance onto another card. If you can get an introductory 0% rate, great. This allows the full monthly payment to be deducted from your balance without incurring any interest. But most of these offers are for a limited time, like 6 or 9 months. After that, the rate may go up quite a bit. If you can’t pay off the whole balance before the rate changes, you may be better off not making the transfer.

Keep your list handy so you remember to make your debt payments with any available money you may have at the end of each week or month. Doing so prevents any arrears and a build-up of interest on credit cards and store cards. Resist the temptation to take the excess cash and splurge.

Step 3. Find ways to cut back on expenses.

You will be surprised at what you can save when you cut back. Make a list of all of your current expenses. This includes all your shopping, hobbies, magazines, newspapers, treats, everything. Then take a look at the list and remove all non-essentials. No cheating! A cup of Starbucks latte is not an essential expense. If you buy one each working day, you can save roughly $100.00 a month by stopping. (That’s $4.50 per latte times 22 working days in a month.) That’s quite a lot of money when you’re swimming in debt. Maybe it could make the difference between swimming and drowning.

Be tough-minded over this. After all, it’s to your own benefit. You may feel a little lack in the short term, but imagine your future prosperity and keep prosperity at the forefront of your thoughts. You will be surprised to see how much you can save from this technique and how little pain it will cause when you keep your ultimate goal in mind.

Step 4. Contact your creditors.

If you just can’t keep up with your payments, don’t be afraid to contact your creditors. They will try to help you. It costs them much more if you default than it does to work with you, so they have just as strong an incentive to work something out as you do. If you’re having trouble meeting your payments, tell them. Be realistic about what you can afford. You may be able to negotiate a new payment plan that you and your creditors can live with. It’s much better if you contact them first.

Before contacting your creditors, make a comprehensive list of your income and expenses. This lets you calculate a realistic amount that you can pay each month. After you have completed a list of expenses, make a list of all creditors, remembering to prioritize from most important to least important. Then prepare a formal letter to each creditor explaining your situation and proposing your payment plan.

When you and your creditor agree on a plan, be sure to stick to it and to keep in touch. This will earn you the trust of your creditors.

By following these four easy steps, you will once more be in control of your debts, and well on the way to being debt-free.

She sat there dumbstruck.

Here we go again, I thought.

Suddenly a high pitched cackle came from her mouth as the ride went sharply up…then back down again.

She was only four – and she loving every single minute of it. Where else could you pay only a dollar to get a reaction like that, I wondered?

It may have only been one of those little child rides in a shopping mall, but to Katie – it was the most exciting thing she had ever done!

Now – two years on – and her laughs come from repeated viewings of Harry Potter. She knows exactly who’s going to say what next – and yet she still covers her eyes at the scary bits and cheers as Harry Potter wins!

Isn’t it a shame that we can’t bottle the enthusiasm we have as children?

When was the last time YOU got really excited about something?

For most of us it seems such a difficult thing to have to recall, doesn’t it?

It shouldn’t have to be that way.

You shouldn’t have to go through life without being really enthusiastic about what you’re doing, should you?

It’s not always possible to just quit your job and spend all your days enjoying your hobby – but you should at least aim for some time during the week that you can look back at with a smile!

It’s no use going through life worrying about the ‘if-onlys’.

Dale Carnegie (the author of the classic ‘How to Win Friends and Influence People) once said:

“Today is life-the only life you are sure of. Make the most of today. Get interested in something. Shake yourself awake. Develop a hobby. Let the winds of enthusiasm sweep through you. Live today with gusto.”

Don’t struggle through life without at least trying to achieve something that you can be proud of. To quote Carnegie – “Shake yourself awake” – and find something that you can get excited about!

The most successful people get enthusiastic about what they do. They look upon their lives as a series of challenges to their skills and ingenuity.

- What really excites you?
- What would you be really proud of if you achieved it?
- What excuses are you finding to put off doing what you’d really like to do?

This isn’t about money.

You might be able to make a living out of what you love if you work really hard at it – but don’t ever turn your passion into a job. Make sure that you do really love what you do before you have to rely on it totally.

Get excited about something – at least once a week. Life isn’t all about becoming wealthy, or famous – it’s about making the most of what little time we really have.

Too much importance is placed on money in our society – it may ‘make the world go round’ – but remember that you can never buy happiness at any cost.

Be enthusiastic at least once this week – and you’ll be surprised how much more creative and happy you will be!

To Our Success!

We’re stressing two parallel streams of content on this site.

1. Nuts and bolts details about debt reduction, credit cards, budgets, and so on.
2. Equally specific information about the mental and spiritual habits and exercises that open your life to abundance and prosperity.

I know that many folks tend to concentrate on the first without paying much attention to the second. They think they’re being “practical” rather than “head in the sky.” I think it doesn’t work that way. When you ignore the effects of your thoughts on your circumstances, you’re creating a divided life, one where you’re apt to be confused about why things just aren’t going according to your plans.

I found a helpful perspective on this on Julie Plenty’s blog. She writes about the pitfalls of just trying to be a positive thinker.

By the way, if you aren’t convinced that the mental and spiritual dimension is important to your financial well-being, how do you explain the work of Suze Orman, the successful financial author and TV host? She (among many others) has not hesitated to emphasized the importance of mental and spiritual discipline in order to make sure that we aren’t sabotaging our own abundance and prosperity. I highly recommend Suze Orman’s books in this vein, particularly 9 Steps to Financial Freedom: Practical and Spiritual Steps So You Can Stop Worrying, The Courage to Be Rich: Creating a Life of Material and Spiritual Abundance, and The Laws of Money, The Lessons of Life: Keep What You Have and Create What You Deserve.

When you hear the words “abundance” and “prosperity”, what immediately comes to mind?Is it money, fulfilling relationships, a lovely house to live in, peace of mind, a career/vocation that expresses your gifts?

It may be all or none of those things. It may mean something else to you. But if you want to attract more prosperity and abundance into your life, no matter how you define them, then this articles outlines 5 key ways to do so.

1. Understand Attraction Law

This is better known as the Law of Attraction, as defined by Abraham Hicks, states that “you attract whatever you give your attention and energy to, whether wanted or unwanted”.

So, if you’re curious about what youre putting out there, look at what you are attracting, the visible results in your life. Knowing about and working with the the Law of Attraction will help you in manifesting, creating and attracting more abundance and prosperity in your life. Once you understand it, theres no turning back.

2. You get what you focus on

One of the key concepts in the Law of Attraction is that you get what you focus on, whether that be money, relationships, employment etc). So when you focus on having less, that is the experience you create for yourself.

Saying that “I hate my job” will just draw even more attention to the aspects of the job that you dont like. Even if you look for another job, itll be with that negative energy.

Just wanting something isnt enough, because you will still continue to think about what you dont have. Always focusing on what you lack means that you dont see the present and future opportunities, or begin to realise your true desires. Youre getting in your own way!

3. Clear your head

……….to allow you to focus more effectively. Our minds are full of “stuff”; old, tired and limiting beliefs, which dont reflect who we are now, or who we want to become.

Set aside quiet time for yourself on a regular basis to get real clear about what you really want to attract in your life.

Use this opportunity to ask yourself questions. Ask yourself: “how can I create more prosperity and abundance in my life?”.

Once your head is clear, you will allow the answers to come to you. Meditation is a great way to start clearing the mind.

4. Appreciate lifes abundance

Appreciating lifes abundance is another way to opening yourself up to accept more abundance and prosperity in your life. When you fully appreciate what you have in your life, the Universe has a way of giving you more.

Keep a gratitude journal and at the end of each day, write down everything that you appreciate in your life. Youll begin to change your energy and vibration and become more internally aligned with what you want to create in your life.

5. Use prosperity affirmations

As you write your gratitude journal, it is an opportunity to write down prosperity affirmations as well. Affirmations are statements of acceptance that you use to manifest your destiny or what you want to create in your life. They are powerful, positive thoughts and words sent out to the universe.

If you want to use affirmations to create positive changes in your life, then you must first BELIEVE that this is possible. It shouldnt be a half hearted “well, Ill give this a go and see what happens”.

To make affirmations more effective, put as much positive energy in writing and saying them as possible. Visualise what you want to create and let this inform your prosperity affirmations.

When you cease operating from a position of lack, you start to create the fertile conditions to make more informed decisions, identify greater opportunities and attract more abundance and prosperity into your life.

Julie Plenty is a Personal and Business Coach who helps self employed creative professionals develop a strong personal foundation and therefore increase the success of their business. For more self growth articles, resources and free ecards, visit: http://www.self-help-personal-development.com