Payday loans

Payday loans are relatively small amounts of money, usually $100 to $1000 intended to be repaid in the short-term. These loans generally require the loan be repaid when the borrower receives their next paycheck. These types of loans are enticing for people with a less-than-perfect credit history and no options for fast cash. The problem is the annual percentage rate (APR) for these loans is extremely high, the actual rate depends on the state. The repayment amount is significantly higher than the original amount borrowed, which continues to escalate until the loan is paid off in full. For this reason, payday loans are not legal in every state. Consumer advocates and lawmakers are urging consumers to avoid payday loans.

Installment loans 

Installment loans are usually fixed rate loans, for larger amounts and for longer terms than payday loans. Installment loans are typically fixed rate loans where the interest rate charged over the term of the loan does not change. In general, they are repaid with regularly scheduled payments or installments, therefore their name. Installment loans are either unsecured or secured loans. Secured loans typically require the item being financed to be “secured” as collateral. This means if payments are not made the item can be repossessed. Some examples of secured loans include auto and mortgage loans. 

Unsecured loans are also known as good faith loans or signature loans and do not require collateral or a security deposit. The loan is supported by the borrower’s credit history, income, and in some cases a co-signer, who is someone who pledges to pay the loan back if the borrower cannot. Examples of unsecured loans include student loans, personal loans, and unsecured credit cards. 

Some payday loans have recently become repackaged and marketed as installment loans. Before agreeing to any loan, be sure to read through the terms and conditions, clarify the interest rate and prepare a timeframe for when you can realistically pay the loan back, including all fees and interest so that you do not become engulfed in a non-ending situation. 

If you have unsecured debt, payday or installment loans and are having a difficult time paying them back reach out to one of our account managers by calling 877.590.1847 Monday through Friday from 9:00-5:30 pm EST or by requesting a free consultation via our online form. 

Financial literacy month is a great time to review 5 key components of financial literacy.

1. The Basics of Budgeting. A budget is a great way to track money coming in and out of your finances. A budget can be created in several ways, one of the easiest is to use a spreadsheet like Excel or Google Sheets. Simply input your income and subtract your bills and miscellaneous payments. You should always have money left at the end of the month to allocate to savings, a retirement, or an emergency fund. Maintaining a budget is one of the most basic ways to stay on top of your finances. 

2. Understanding Interest Rates. It is critical that you always review interest rates before agreeing to a financial contract, such as credit cards, and any type of loan. Be sure that the interest rate is competitive and fair. One of the best ways to ensure you receive a good interest rate is to be mindful of your credit score. Some of the ways you can improve your credit score is by paying your bills on time, and not taking on too much debt. As a general rule of thumb, most lenders require a debt-to-income ratio of less than 40% of your monthly income. For example, if you have monthly rent or mortgage of $1,000, a car payment of $250, and a student loan $150, and a gross monthly income of $4,500 your debt-to-income ration is 31%. ($1400 debt/ $4500 income). Your debt-to- income ratio and credit history will often determine your interest rate.

3. Prioritizing Saving. Once you have completed your budget and you can see where your money is going and how much is left at the end of the month you can begin to prioritize spending and make changes in order to have savings at the end of the month. Adding money to a rainy-day fund is a great way to avoid installment loans for when emergency situations arise. 

4. Credit-Debt Cycle Traps. Avoid the temptation to spend more on your credit card than you can truly afford. It is easy to use your credit card for everything you purchase; however, remember to make a log of all your charges to make sure you are not spending more than you can afford to pay when the bill comes in. You never want to carry credit card balances as they carry high interest rates which can be difficult to pay off. 

A debt trap is when a borrower is unable to pay an outstanding loan and must take out a new loan to make payments on the first loan. Common examples are payday or installment loans, which are exceedingly difficult to get out of once you start due to their high interest rates and challenging terms. 

5. Identity Theft Issues. Identity theft has become a big problem and can destroy your financial life if you are not careful. Some of the ways to safeguard your identity is to destroy private records and statements that are no longer needed in order to prevent personal information from getting into the wrong hands. Be sure to never disclose your social security number unless it is for an authorized reason. Thoroughly review your credit card statements for any purchases you do not recognize. You can monitor your credit with the three main credit bureaus: Equifax, Experian, and TransUnion through services such as AnnualCreditReport.com.  

If you find yourself needing help getting out from under debt, feel free to call Progressive Debt Relief  877.590.1847 and speak to one of our friendly account managers who are available Monday through Friday from 9:00-5:30 pm EST. You can also request a free consultation by submitting our online evaluation form.  

If you’re struggling with credit card debt, you might be considering enrolling in a credit card debt relief program. These programs help you reduce your amount of debt by negotiating with your credit card providers and other financial institutions. If the program is successful, your debt could be reduced and you could get out of your debt within 48 months or less. 

However, credit card debt relief programs are not the right choice for everyone, so it’s important to understand how these programs work before making any decisions regarding your debt. 

How Do Credit Card Debt Relief Programs Work?

Credit card debt relief programs use a method called debt settlement to help reduce what you owe. Here’s how it works: 

1. You’ll start by signing up for a credit card debt relief program that uses the debt settlement method. 
2. You will then stop paying your creditors and, instead, begin depositing money into a designated account the company sets up for you. This account will be used to pay your debt. 
3. The company will negotiate with your creditors to get them to agree to accept less than what you owe. 
4. Once an agreement is made with your creditors, you will be asked to sign off on the agreement.
5. After you sign off, the debt relief company will collect their fee and pay your creditors using the money you’ve put into your account.
6. Once you’ve paid all of your creditors, you will no longer owe any debt. 

Most of these programs can be completed in 24 to 48 months depending on how much debt you owe and how much you are able to set aside each month to pay your debt.

What Types of Debt Qualify for Credit Card Debt Relief?

Credit card debt relief programs can help you get out of unsecured debt, which is debt that is not tied to an asset. These types of debt can include: 

1. Credit card debt
2. Department store card debt
3. Personal loan debt
4. Medical debt
5. Some private student loan debt
6. Some business debt

What Types of Debt Do Not Qualify for Credit Card Debt Relief?

Unfortunately, there are some forms of debt that are not eligible for relief programs. These types of debt include: 

1. Mortgages
2. Car loans
3. Other vehicle loans
4. Federal student loans
5. Tax debt

You can find out if your debt qualifies for a relief program by contacting a credit card relief company and requesting a free debt evaluation. 

Rely on Credit Card Debt Relief Professionals

If you’ve decided a credit card debt relief program might be right for you, rely on the professionals at Progressive Debt Relief. Our expert debt negotiators will work with you and your creditors to settle your debt for good. To find out more about our services or to schedule your free consultation, contact us today.

Do I Need a New Credit Card?

How Do Sign-Up Bonuses Work?

Analyze and Compare Sign-Up Bonuses

• The spending required to receive the bonus
• How long you must spend the required amount
• The type of reward: cashback, points, etc.
• When you can redeem the reward
• The annual fee and interest rate of the credit card

How Do I Know If a Sign-Up Bonus Is Right for Me?

To benefit from a sign-up bonus, you need to make sure that your typical monthly expenditure aligns with the amount you are required to spend. It is never a good idea to unnecessarily spend money just to meet a bonus requirement. If you want to find the right sign-up bonus, you need to:

• Know how much you spend on credit cards every month
• Find a bonus with a spending requirement that aligns with your expenditure
• Figure out what type of reward system you prefer.

Do I Open A New Credit Card If I Have Debt?

If you are opening a new credit card account to avoid previous debt, Progressive Debt Relief can show you a better way. Our financial experts will protect your credit score and negotiate with your creditors to settle your debt once and for all. To schedule a complimentary consultation with no upfront fees, contact us today.

Credit cards can really help in a financial pinch. However, while the prospect of getting something now and paying for it later can seem very attractive, the debt and interest accrued from multiple credit cards can quickly turn into a major burden. If you have multiple credit cards with varying interest rates, it’s important that you note the amounts of your balances against their respective interest rates. Oftentimes, you can end up paying much more for items purchased with a credit card, and it’s for this reason that you should aim at pay off high-interest debt first. 

How High-Interest Debt Affects You

According to the Federal Reserve, Americans hold more than a trillion in debt collectively. Individual debt can greatly increase because of high-interest credit cards. When looking over your debts, make note of: 

• Interest rate
• Balance amount
• Any finance charges, if applicable

All three of these factors can lead to higher credit costs if left unchecked. If you have multiple accounts, it may seem more prudent to pay off the lower balances first to eliminate them systematically. Often referred to as the “snowball method,” it might be feasible if interest rates were not a factor. But since they usually are, you will be saving money in the long term by chipping away at a higher balance with a high interest rate. Prioritize your debts from top to bottom in terms of high balance and high interest, and then, by paying them off one-by-one, you can begin to shrink the size of your debt. 

Don’t Let High-Interest Debt Get You Down

Debt can seem insurmountable at times, but by applying these tips and practices, you can be well on your way to financial freedom. Progressive Debt Relief can help you attain this freedom with the professional debt settling, negotiating, and counseling services offered by our expert team. 

Defeat High-Interest Debt With Progressive Debt Relief

Progressive Debt Relief has the experience and ability to help settle high-interest debt efficiently and discreetly. Through free consultations and no upfront fees, our financial experts will work with your creditors to negotiate and settle your high-interest debt for good. To find out more about our services, or to schedule a complimentary consultation, contact us today.

If you’re looking for a new, strategic way to lessen or eliminate your debt, a balance transfer, which is when lower interest rates are taken advantage of as debt is moved from one existing account to another, may be the approach you’re looking for. Here are some ways a balance transfer can best suit your debt payment needs. 

What To Consider Before Making a Balance Transfer

When debt is on the table, it can be tempting to look for fast, easy ways to pay it off, but make sure you know all that’s involved in your decision making process. Below are key factors to consider before making a balance transfer:

1. Compare different interest rates: Take a look at the balance transfer’s interest rate with your current rate. Do you see a major difference? If not, then the transfer may not be worth it and keeping your debt in its current account could be your best repayment option. Or, you can keep looking to find a more reasonable interest rate in a different payment plan. 
2. Be aware of fees: A charge usually occurs when a balance transfer takes place. You may even have an annual fee to pay. Before you move your debt into a new account, ask yourself if these additional fees will go over the amount you would save from the new interest rate. 
3. Take advantage of the promotional period: There’s a window of time where your new credit card company will charge you at a low interest rate, but once that window closes, the rate will increase. These periods can range anywhere from six to 21 months. Review that timeframe to ensure it works best with your repayment goals, or at least make a plan to pay off most of your debt in that promotional period. 
4. Check your balance amount: Your credit score and credit card company policies can affect the approval of a full balance transfer. If you’re approved for a partial transfer, keep in mind that you will have to make payments on both accounts. 
5. Know the penalties: When you don’t make your debt or fee payments, what happens? It’s crucial to know the specifics on what may happen in your new account. Remember to read and understand the fine print.

Steps To Make a Balance Transfer

Once you’ve decided on a balance transfer option that works best for you, it’s time to take the steps to follow through with it:

1. Create a budget plan: Be honest about what you can pay each month. This will give you a clear understanding on what plans are most realistic for you.
2. Find offers that align with your goals: Take advantage of those promotional periods and find a plan that has zero percent interest rates. 
3. Read the fine print: Once you’ve done your research and have different account options on the table, compare what you’ve found. Review which fees, penalties, and future interest rates work best for you.
4. Apply for your transfer: After you’ve found which plan works best, gather your account and current debt balance information to prepare for your balance transfer application. 
5. Work towards being debt free: With your account set, stay diligent with your payments and remember financial wellbeing is on the horizon.

Work With the Debt Elimination Experts at Progressive Debt Relief

If you need additional assistance in your balance transfer and are looking to get out of debt efficiently and discreetly, Progressive Debt Relief is here to help. Our experienced financial experts work on debt settlements, negotiations, and counseling services to help you settle your debt for good. To find out more about our services, or to schedule a complimentary consultation, contact us today.

Holidays are a time of selfless giving. The satisfaction of giving gifts is truly a great feeling and warms the heart of not only the gift receiver, but the gift giver. However, the expectations to give during the holidays can sometimes overburden us with excessive spending and charging, which can result in a large amount of debt once the gift-giving season has passed. 

If you turned to high interest credit cards to help you live up to the holiday gift giving expectations, it’s important to resolve to get your debt under control in the new year. Here are some ways to stay on top of your credit card bills and pay off holiday debt. 

Tips for Paying Off Holiday Debt

The following are good tips for tackling holiday debt efficiently and setting a good financial tone for the year to come. 

• Don’t wait. A common tactic when it comes to dealing with stress-inducing finance issues is to procrastinate or simply ignore them. This can be detrimental in the long run, as interest and finance charges can pile up while you turn the other cheek to your debt. Assess your debt head-on and begin to set a payment schedule as soon as possible. 
• Prioritize your spending. Mindful spending should always be put into practice, but it’s worth mentioning. Make sure your necessities come before your credit bills. Your credit bills, however, should be a very close second to necessity expenses like rent, groceries, and utilities and paid off diligently after those are taken care of. 
• Cut down on frivolous spending. This might be a tired lecture, but there should be a focus on cutting down on needless and wasteful spending. Retail therapy is real, and there are tons of fun, shiny items out there. However, let the looming threat of interest and finance fees piling up help keep you on the right financial track. 

Don’t Let Holiday Debt Hold You Hostage

Holiday spending and debt can sometimes make for a bad start to the new year. But the financial experts at Progressive Debt Relief are on hand to help you settle, negotiate, and manage your holiday debt issues. 

Have a Happy Debt-Free New Year With Progressive Debt Relief

Progressive Debt Relief has the experience and ability to settle debt efficiently and discreetly. Through free consultations and no upfront fees, our financial experts will work with your creditors to negotiate a reduction of your debt and help you to develop an ability to make the best financial choices possible. To find out more about our services, or to schedule a complimentary consultation, contact Progressive Debt Relief today.

Having your overdue and negligent debt reported and sent to collections can negatively impact your credit score and be hard to overcome. However, not all hope is lost. To correct the course of your financial future, consider some of the following steps that you can take to pay off your debt in collections. 

Steps To Take When Paying off a Debt in Collections 

1. Be sure the debt is yours. Make a request to your collection agency that they prove the debt is yours. Creditors must provide you with a letter verifying:

• The original creditor’s name 
• The collection agency’s name 
• How much is owed
• Multiple legal statements surrounding your rights as a debtor 

1. If not accurate, dispute the reported collection. Validating a debt can stall the process for you and present you with extra time and options. It allows you to get your information together and find out if your debt is correct or still owned. If the amount is incorrect, already paid, or past the statute of limitations, then you will be able to dispute the debt. 
2. Select a payment plan option or arrange a debt settlement. Once the debt is proved to be factual, it’s now time to decide on a payment strategy. Here are some of the best methods to satisfy your debt in collections:
3. Consider a lump-sum payment. Settling the debt in full is an easy way to skip the negotiation process, decrease your stress level, and take care of the debt in its entirety all at once. As an added plus, it will also give your credit score a nice boost. While a one-time final payment is nice, it’s not a realistic option for many indebted borrowers. If the money isn’t available, consider a debt consolidation plan. 
4. Initiate a payment plan. Collection agencies will probably work with you on a payment plan to aid you in fulfilling a debt over a determined time frame. Make sure every single detail is on paper in a written agreement before making your first payment. Keep in mind how much you can afford so you stay within your means and not fall further into debt. 
5. Settle for less. Attempt to negotiate a settlement with your debt collectors. The process is faster than a payment plan and can save you extra cash. The downside to consider here is whatever lump sum you offer may not be accepted by the collection agency. If you can’t reach a settlement on your own, rely on professionals who have established relationships with collection agencies to negotiate a settlement on your behalf.

Contact the Debt Relief and Settlement Experts

At Progressive Debt Relief, our team of experienced professionals can help you settle your debt as efficiently and discreetly as possible. Our debt relief experts work alongside your creditors to pinpoint a solution and fulfill your debt. If you are looking for debt-free financial independence through debt settling, negotiating, and counseling services, then contact Progressive Debt Relief today. 

Settling debt is not an easy process. It can be stressful and confusing, especially if you have multiple sources of debt on your plate. If you have this problem, then you’re probably wondering which of your debts to pay first to ensure you’re on the fast track to becoming debt-free. If you’d like to find out which method is right for you, then here are some professional tips on how to approach paying off debt including which debt you should pay first.

Approaches to Paying Off Debt

There are two primary methods of paying off debt:

• Paying high-interest debt first: This is the most common approach and it’s easy to understand why: You’ll end up paying less interest in the long-run. This means that once you’ve paid off your bigger debts, you’ll have more money to put toward your low-interest debts. This is often the most effective way of becoming debt-free, but it isn’t without challenges. If you focus on paying the bigger debts first, it’ll take longer and you may feel like you aren’t making enough progress. If this is the case, it can become trickier to stick to your plan. However, your concerns will likely subside after you’re able to get past the initial roadblock and it will be a much easier process when you only have to pay off smaller debts.
• Pay low-interest debt first: Starting by paying off your low-interest debt might be in your best interest if you want to feel like you’re making progress right away. Knocking out the smaller debts is the best way to reduce the number of debts you have to pay, possibly making the process of becoming debt-free easier to manage and compartmentalize. With this method, however, you’ll end up paying more in the long run when it comes to interest. But if quick progress and crossing debt off your list is what you’re looking for, this might be a good option for you.

Settle Your Debt For Good

While the right debt paying method for you depends on your personal feelings and behaviors, the best option is to always keep making your payments on time. If you need assistance strategizing a debt payment solution, the financial experts at Progressive Debt Relief are here to help. Our professionals are fully equipped to help you settle your debt efficiently and discreetly through our relationships with collections agencies and our debt settling, negotiating, and counseling services. 

We know paying off debt is a stressful process, so we offer free consultations and no upfront fees to make sure our services will be beneficial to you. To find out more or to schedule a complimentary consultation, contact us today.

If you have outstanding debt, you’ve probably looked into entering a debt relief program in hopes of getting one step closer to becoming completely debt-free. However, you may be unsure how such programs work and what kinds of debt they work with. Continue reading to find out how and if debt relief programs actually work.

How Does a Debt Relief Program Work?

The main goal of a debt relief program is to reduce the outstanding amount that you owe your creditors. If you’ve never heard of a debt relief program, it’s just another term that means debt negotiation or debt settlement. In this process, a debt relief company works directly with creditors and negotiates a lower amount to be paid. This is a win-win situation for the creditor and you, as they’ll get their money faster and, in return, you’ll be able to pay off your debt quicker.

What Forms of Debt Can Be Negotiated?

Typically, debt relief doesn’t work with secured debt, which is debt tied to a specific asset. This includes mortgage debt, vehicle loan debt, and federal student loan debt. What can usually be negotiated is unsecured debt. This means credit card debt, medical debt, personal loan debt, and several other forms can be negotiated down using a debt relief program.

Can I Do It on My Own?

If you’ve been reading up on debt negotiation, the thought of “Can I negotiate the debt myself?” has probably crossed your mind. And honestly, it’s certainly not out of the realm of possibility. But while it can certainly be done, debt negotiation is incredibly time consuming and you must have a very good understanding of the whole process to be successful. You also must be a good negotiator and be able to understand industry-specific terms that may be thrown around in your correspondence with creditors. If you aren’t a seasoned pro at settling debt, it’s in your best interest to put your efforts into finding a debt relief company that can do the work for you.

Rely on Debt Relief Professionals

When it comes to negotiating and settling your debt, it’s best to put your trust in experienced debt relief professionals to yield the best results. At Progressive Debt Relief, our financial experts are well equipped to help settle any amount of debt efficiently and discreetly. We have established working relationships with creditors and will work closely with you to develop a plan that you can manage. 

As a testament to our services, we offer free consultations and no upfront fees to make sure you’re fully on board to settle your debt for good. To schedule a complimentary consultation, contact us today.

Unfortunately, unrelenting collections calls are a realistic situation for many borrowers. If you are receiving calls from debt collectors over student loan or credit card debt you acquired years ago, then you may be wondering how long it can affect your credit score and how much longer debt collectors can pursue your old debt. The short answer is that it varies borrower to borrower and depends on where you live and your overall level of debt. 

Here is some information you should know regarding the statute of limitations that apply to your old debt. 

Limits of Long-Term or Old Debt

If you have old debt, the first thing you are probably wondering is how long it can still be collected. This first depends on what state you’re in. Each state has a different statute of limitations that will tell you the time period in which debt collectors may sue you to collect debt. Again, this time period varies from state to state, but it is usually anywhere from four to six years after the last payment was made. 

That being said, in some states — just because a collector can’t sue you to collect debt anymore — it is still possible that a collector will try to sue in the hope that you will not appear in court. If such a situation occurs, it is important to appear in court to explain that the debt is time-barred in order to get the lawsuit dismissed. Furthermore, while debt collectors can no longer sue, they can and may still attempt to collect the debt through written requests and borderline harassing calls.

Old Debt and Your Credit

The statute of limitation on your old debt does not apply to your credit report. When it comes to debt on your credit report, the debt remains about seven and a half years after your most recent payment. Therefore, even if a bill remains unpaid, you can take steps to remove a debt account from your credit report if it still remains past this time period. 

Of course, if you are sued and a collector gets a judgement against you, an old collection account can still affect your credit and will have its own reporting period. 

Get Help With Your Old Debt 

Are you having a hard time dealing with old debt or tenacious debt collectors? Then rely on the professional services of Progressive Debt Relief for help with your long-term debt. Our financial experts have experience counseling indebted borrowers, negotiating with their creditors, and settling different types of debt discreetly and efficiently. Through free consultations and no upfront fees, we are committed to working with you to get your debt under control and your finances back on track. 

To find out more about our services or to schedule a complimentary consultation, contact us today. 

There are many more cons than there are pros when it comes to ignoring debt collectors. And while ignoring your debt collectors’ constant calls, texts, and emails can be tempting, it is unwise to delay the inevitable and can significantly harm your credit score and long-term financial livelihood. Here are a few of the drawbacks, penalties, and consequences you may face if you continuously ignore a debt collector.

What Happens When You Ignore a Debt Collector

1. They Won’t Leave You Alone

Debt collectors only get paid when you pay off your debts. Therefore, there is obviously a large incentive for them to get ahold of you. They want to get paid and you’re going to have to pay them eventually. However, you can sometimes get a debt collector to stop their relentless pursuit to get in touch with you if you send written request under the Fair Debt Collection Practices Act (FDCPA).

2. You Will Tank Your Credit Score

Creditors will report delinquency to credit bureaus and won’t stop until you pay off your debt. This can destroy your credit and severely limit your ability to qualify for future loans, apply for credit, or make large purchases in the future like a car or a home. That is why it is so important to face the music, work with your creditors, and act as quickly as you can to pay off your debt.

3. You Won’t Learn About Your Debt

4. Your Debt Will Increase

While you ignore your debt collectors, you will still gain interest on your debt until it is paid off or settled. This means that the longer you neglect your debt, the bigger it will get.

5. You’ll Miss Opportunities

By ignoring your debt collector, you might miss the chance to settle your debt. Debt collectors might be willing to negotiate with you so that you can pay less than what you owe. However, ignoring your debt collector won’t accomplish this because you won’t be able to even start negotiations, talk it though, or reach a deal.

6. You Can Be Sued

If you continuously ignore a debt collector, they can sue you. If you ignore their lawsuit, then your wages might be garnished by collection agencies. They could also go after what you have in the bank. This is a huge reason not to ignore your debt collector.

Get Professional Relief from Debt Collectors

Progressive Debt Relief can help you negotiate your outstanding debts. We have established relationships with many of the top debt collection agencies and can not only get them to leave you alone, but we can negotiate with them on your behalf to settle your debt for good. For more information or to schedule a discrete, speedy, and complimentary consultation, contact us for a free consultation today.

When it comes to the process of paying your bills, it can sometimes feel like a full-time administrative job in and of itself. While things have certainly gotten more streamlined as we go further into the information age, bill organization and management can still be quite a balancing act. It is important that methodical time management principles are practiced and applied to better organize your bills. These principles, along with expert debt consultation and settling, are your key to a worry-free bill paying experience. 

Keep Things in Order to Organize Your Bills

While many services are electronic these days, paper bills are still very much a thing. Here are four ways to better organize your bills no matter what form they come in. 

1. Open and read your bills. This might seem an obvious step, but it is important. The urge to not open bills you’re behind on, or don’t want to face, can be strong. Not only does ignoring your bills make you more likely to forget to pay them, you might also miss late charges and fees. 

2. Set a bill paying schedule. Some bills might have unmovable deadlines. For others, you may be able to set a flexible pay schedule to fit your preference. Either way, set aside a dedicated day and time each month to sit down and pay your bills. It might only be an hour, but that hour of focus can get you squared away for the month. 

Progressive Debt Relief has the experience and ability to settle debt efficiently and discreetly. Through free consultations and no upfront fees, our financial experts will work with your creditors to negotiate and settle your debt for good and advise you on how to better organize your bills and financial situation. To find out more about our services, or to schedule a complimentary consultation, contact us today.

Because each person’s financial situation is different, there is not one definitive way that works best when it comes to paying bills. 

However, there are several tried and true options that all struggling and indebted borrowers can try. Here are a few of the best bill paying strategies to help you manage your debt. 

Set Up Automatic Payments

Automatic bill payments is one strategy that works best for those who have trouble remembering to manually pay their bills on time. A set-it-and-forget-it process, autopay allows you to set up a designated account that will automatically withdraw your payments each month on your specified due date. With autopay, you don’t have to worry about sitting down at a computer and paying the bill yourself each month. This is a great strategy for those who are good at managing their money and who do not typically splurge on a variety of items.

Those who have a good credit standing can try charging their recurring monthly expenses such as rent, groceries, and utilities onto a single credit card account that allows users to earn reward points. Most major credit cards offer point promotions for notable retailers, hotels, cruise lines, and airlines. However, credit cards can be difficult to navigate and some expenses may not allow credit cards as payment. Unless you can manage credit cards well, you may want to consider a different bill paying strategy.

Use Budgeting Apps

There are many budgeting tools out there that can help you keep track of your bills and micromanage your finances. Apps such as Mint.com and Digit allow you to see how much you are spending on certain items and can help you create a monthly budget. 

Pay Whatever You Can On Time

Perhaps the best bill paying strategy is to pay your bills when they are due. Even if you can only manage the minimum amount due, be sure to never miss a bill payment. Missing a payments can result in late fees, canceled credit cards, and delinquent accounts being reported to creditors and devastating your credit report. While making monthly minimum payments may be a good short term solution to help keep your head above water, it will just hurt you financially in the long run.
 

Sometimes the best way to pay your bills, manage your finances, and stop the cycle of debt is to seek out the expert advice of experienced debt management professionals. 

Reach Out to Debt Relief Experts

Progressive Debt Relief has the experience, negotiating skills, and relationships with major creditors to help you settle your debt for good. With no upfront fees, we will efficiently and discreetly help you establish a manageable bill payment plan that works for you. Contact us today to learn more about our debt relief services or to schedule a free consultation.

Financial problems are an unfortunate difficulty that many of us face at one point or another. Sometimes, our family members and loved ones face these issues as well. When you are financially secure, however, you may feel inclined or be asked to help pay someone else’s debt — specifically, credit card bills.

While this kind of gesture can mean the world to a friend or family member in need, it can also put a strain on your own stability. Financial independence starts with personal responsibility, education on wise credit card usage, and professional credit card debt settling and counseling services. Fortunately, helping others pay credit card bills and access professional financial assistance has never been easier.

Methods for Paying Other People’s Credit Card Bills

There are quite a few payment options available if you’re assisting with another person’s credit card bills:

· Paying Online — Perhaps the easiest method, online credit card bill payment allows you to simply enter your account details or debit card information onto the cardholder’s account for a one-time credit card bill payment. Don’t forget to opt-out of saving those details on the payment method form.

· Calling the Provider — Have the cardholder directly contact the customer service line for their credit card provider and make arrangements so you can provide payment information on their behalf. The cardholder will likely need to be involved to verify their personal and account information.

· Mailing a Check — If you choose to mail in a paper check, include as much information as possible for the cardholder’s account in the memo field. Double-check the payment mailing address before sending a proper check through the mail system.

The Downside of Paying Other People’s Credit Card Bills

Offering financial assistance to a friend or family member surely won’t go unappreciated. However, it might lead to unhealthy expectations — especially when you decline or can’t afford to help in the future. Luckily, debt-free financial independence is in reach with the debt relief and counseling experts at Progressive Debt Relief.

Promote Financial Freedom With Progressive Debt Relief

Progressive Debt Relief has the experience and ability to settle debt efficiently and discreetly. Through free consultations, and without any upfront fees, our debt counselors will work with creditors to negotiate and settle debt for you or someone you know — for good. To find out more about our services, or to schedule a complimentary consultation, contact us today.