Having a debt over a long period of time is expensive, the longer you have the debt the more expensive it becomes. Taking into account the late payment charges and compounded interest that can be applicable what may have started as a reasonable charge can in fact become a long lasting burden. The best choice you can make regarding money is to pay your debts. It could be that you have unclaimed money that you do not know about and these sources of money could be the ideal way to say goodbye to your debt.
The downside of debt is as it grows it becomes increasingly difficult to keep up the payments, quite a large majority of people struggle just to make the minimum monthly payment on their credit card. Having the worry of regular bills, you may resign yourself to the thought that there is no way you can pay your debts in full.
Where Can You Find Cash
There are people that take out loans to pay off previous debts however this is not a good choice as this is just adding to money that you owe. Ideally you should pay your debts, and start living debt free and begin to rebuild your credit
Although it may seem impossible to save money when you have bills that need to be paid arriving what seems like daily, however if you watch what you spend you could see places where you could be more frugal. Eat out less often, quit smoking, and put a stop to unnecessary expenses such as junk food and lottery tickets and you will see that you can make reductions.
If you have financial troubles you may be able to borrow the money from family or friends especially if they are aware of your circumstances and how hard you are trying to pay your debts, they could be far more willing to help than you may expect.
Have You Got Unclaimed Money to Pay Your Debts?
There are thousands of people all over the country that have cash in their names that they are completely unaware of. The NAUPA short for National Association of Unclaimed Property Administrators, can put you in touch with the treasury department of your state, this is where the unclaimed funds are held, these funds have been collected from in many different ways and include money that has been left in dormant accounts with the bank, utility and security deposits, and also the contents from safe deposit boxes.
Finding out whether you have any unclaimed money could not be easier. Every state has a place online that you can check to see whether there is any money unclaimed waiting for you. Simply search in all of the states that you have lived and if you find that there is unclaimed money belonging to you, fill in a claim form and the funds can then be released to you.
When you are searching for unclaimed money or assets you should search in your name and also the names of your relatives, those who have died may have left money for you in their will and this will only show up through this search method.
Be Wary of scams
All of the unclaimed property being held by the states is a matter of public record, and therefore you should not have to pay for someone to carry out the search on your behalf. Watch out in particular for any service that requires an upfront payment.
Using Unclaimed Money to Pay Your Debts
It can be a lovely surprise when you find that you are entitled to some form of unclaimed assets, however the majority of the time it will not be enough to pay your debts in full. If this is the case, you can still try to settle the debt by consolidation this can reduce what you owe substantially, meaning that you can more often than not make a payment to clear a debt that is far smaller than what you actual owed. Deciding to enter into debt consolidation can actually lower the amount owed significantly.
If you decide to go down the consolidation route then you will need to find a reputable company that has experience of consolidation through settlement. Many of these companies will require you to make a payment upfront; however a well respected business will not charge you anything at the beginning of your process and they realize that as you have no extra money to spend and that there will be no extra until you have pay your debts.
Contact us today without delay and we will be more than happy to offer you a free debt analysis. Our experts will begin by studying your financial situation and then they will be able to help you to understand the best options are for you to get out of debt. Alternatively you can fill in the form and our debt consolidation professionals will begin to analyze your issues straight away, by contacting us there is no commitment, all you are doing is taking the first step to being debt free for good.