Tuesday, November 4, 2008

Debt Consolidation Cap

By Huckabee Tim

Can debt consolidation help to improve my credit?
Yes! The foundation we represent is not required to report our clients to any credit reporting agency and never do. By reducing the amount of debt you owe, your debt-to-income ratio improves which helps improve your credit. Your creditors may choose to make a comment on your credit report, indicating that you are working with a counseling agency or are involved in a payment plan. This by some if viewed as a big positive.Yes, but only if more than 33% of the total debt is owed to him. Once the deed has become protected, all creditors are bound by law to accept the terms of the deed.

Will I be forced to sell my endowment policy?
The answer to this question depends on whether the endowment policy has been assigned to a Building Society or Bank as security for a mortgage. If the endowment policy is assigned to a Building Society or Bank as security for a mortgage, then it will not be possible for the 'Official Receiver' or 'Trustee in Bankruptcy' to sell it, as technically, the rights to the proceeds of the policy no longer belong to you.

Is This You?
Any Time Morning 9.00 - 10.00 am 10.00 - 11.00 am 11.00 - 12.00 am Afternoon 12.00 - 1.00 pm 1.00 - 2.00 pm 2.00 - 3.00 pm 3.00 - 4.00 pm 4.00 - 5.00 pm Evening 5.00 - 6.00 pm 6.00 - 7.00 pm 7.00 - 8.You will have to come to an informal arrangement with you creditors to repay your debts or consider sequestration.

Is a Trust Deed a loan?
No. a Trust Deed is a legal process which allows you to come to an agreement with your creditors to repay them less than you actually owe them.The pressure of being in debt is reduced as all correspondence, including any queries from lenders, is handled by the Trustee.Yes! The foundation we represent is not required to report our clients to any credit reporting agency and never do. By reducing the amount of debt you owe, your debt-to-income ratio improves which helps improve your credit.

Can an individual creditor refuse to accept an Trust Deed?
Yes, but only if more than 33% of the total debt is owed to him. Once the deed has become protected, all creditors are bound by law to accept the terms of the deed.By reducing the amount of debt you owe, known as your debt-to-income ratio, debt consolidation can help to make you more appealing to the lenders. Also, if you are behind in your debts, the re-aging of your accounts will show you as current once again. Good credit, in most cases, is a by-product of our program.Yes! The foundation we represent is not required to report our clients to any credit reporting agency and never do. By reducing the amount of debt you owe, your debt-to-income ratio improves which helps improve your credit.

Does it make a difference if I am a homeowner?
No. It makes no difference whether you are a tenant or homeowner or if you are still living with your parents.The pressure of being in debt is reduced as all correspondence, including any queries from lenders, is handled by the Trustee.Yes! The foundation we represent is not required to report our clients to any credit reporting agency and never do. By reducing the amount of debt you owe, your debt-to-income ratio improves which helps improve your credit.

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