So you are concerned that your debts are out of control and you are running out of credit cards to pay off the other bills? Then you need keep reading to learn the three key mistakes that people make which stops them from taking back control of their financial situation.
1. People don't analyse. The don't ask why they are in this financial situation. You didn't start off in debt! At one point in your life you were debt free and now you aren't. What caused the problem? Was it a one off serious event like losing your job or having to take a more poorly paid position? Did you or a loved one get sick and run up medical bills? Or did it just happen, gradually over time, probably years. If the later - then you were probably just gradually, each month spending more than your income provided for.
2. People ignore the size of the problem. How big is your problem - pull out a piece of paper and write down the list of all your outstanding balances. All of them, don't forget any, don't guess - the figures you owe will be on the latest bill - write them all down. Now on the other side of the same bit of paper list the values of your salable assets: your home, your car, anything else valuable you own like stocks or bank accounts. The difference between the two is the size of the problem - in may be a sobering moment but now at least you know not just why you got this point but just how big the problem is.
3. Moving forward - how are you going to repair your finance. Now you understand the size of the problem - you can make some rational decisions going forward. You can decide to sell assets, reorganize your debts by debt consolidation or both. The hard work is just beginning but at least you have path forward.
If you are looking to refinance than CareOne Debt Consolidation has a full range of services which may be of interest to you. Even if you have a bad credit record there are still options available including CCJ mortgages Article Source: http://EzineArticles.com/?expert=Robert_H._Jones |
Posts
No comments:
Post a Comment