Engaging Debt Consolidation Services and Credit Card Debt Elimination
October 10, 2007 – 5:54 amWhile surfing the internet this morning, I chanced upon a site on debt consolidation. Some people mentioned to me before that debt consolidation is not the perfect solution to Credit Card Debt Elimination but I have friends who have engaged the help of companies that offer Debt Consolidation Services and they managed to clear their credit card debt slowly but surely.
Having said that, I believe that there is not one single solution that is the best. It just depends on our own needs and whichever method that that could help us without much compromising on our part. Debt is an ongoing accumulation process and we cannot expect to clear it in a single stroke. Therefore, we cannot expect a miracle in any way that we choose to overcome our debts.
Some people have asked me why I prefer to use cash when I could easily swipe my many credit cards. The reason is that I don’t want to tempt myself with the convenience of using credit cards. It is way too easy to train myself to use credit cards and fall into the bad habit of charging first, pay later.
Many people do this thinking that they could easily pass off their credit card debt by the end of the month but more often than not, they would have miscalculated their budget and may not be able to settle their outstanding bills at the end of the month as expected and that is when interest would start to snowball!
So now you know!
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One Response to “Engaging Debt Consolidation Services and Credit Card Debt Elimination”
Using credit cards is surely very tempting. It is much easier than going to ATM to withdraw money or to pay your regular bills such as phone bill. Moreover, you can not shop online with cash, right?
The problem with sticking to the budget is : there’s always “emergency” situation. What a credit card holder must know is : not every “emergency” situation is really emergency. On the other hand, real emergency situation does happen sometimes. So, it is important to stick to the budget as tight as possible and never use your credit card up to the credit limit (some credit limit is twice or even thrice monthly paycheck). Save some space on the credit card for real emergency situation.
J.C. Carvill
Email: support@cosmosing.com
URL: http://www.cosmosing.com/jeanclaudecarvill/index.php
By J.C. Carvill on Oct 10, 2007