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How Credit Card Consolidation Can Help You Become Debt Free

November 4th, 2009 Kenny No comments

Credit card consolidation is the technique of restricting your credit cards to only one credit card. This is performed by discontinuing the credit cards and shifting the balances to another card. Credit counseling agencies and debt consolidation companies frequently advise it to people as a means of managing credit card debts effectively. You can perform credit card consolidation single-handedly if you experience that you have become overextended with your credit card bills and you wish to make things easier. Credit card consolidation is a simple procedure and you just have to sit down and devise a suitable strategy for combating your credit card debts.

First of all, you need to consider a number of elements. This would incorporate your present budget and what you’re spending on your credit cards per month. You also have to take into account the interest rates. There would be different rates and some of them might be quite exorbitant if you’re in debt and could not get even with your bill payments recently. This is acceptable and debt consolidation plays an important role over here, assisting you to stay even with your bill payments.

Subsequently, you would have to think about your options. You don’t wish to eliminate the high interest credit cards at all times since older credit provides you some benefits. Nevertheless, you have to bargain with your credit card company in this regard. You have to take into account the suitability of your options and which interest rate suits you the most. Consolidating your credit cards is about limiting your cards to one credit card and subsequently, shifting balances to that card and paying them off.

Hence, this is the strategy. You take a note of the one credit card that you want to maintain. Continue with your previous credit card company that is ready to reduce the interest rate on your card. Shift all your debts to this card if you can. Soon you would notice that carrying out credit card consolidation on your own has helped you save a lot of money.

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How Do Structured Settlement Annuities Work?

July 17th, 2009 Kenny No comments

If you have been into legal battles, especially when you are up against big corporations, the situation is most likely to end up with something like a structured settlement annuity. If you are not familiar with the term, the structured settlement annuity is a financial arrangement and sort of an insurance that you will be paid accordingly.

This makes it easier for the other party to pay up even when the amount is so high because they are not required to come up with a lump sum. The latter will be very hard to produce and it may affect their business tremendously.

With the advent of paying cash for structured settlement payments, both parties will be in a win-win situation. The one who will pay can do it easily by opting for structured settlement annuity and you will get what you rightfully deserve.


This type of court settlement has been around since the 70s. This includes periodic payments that you will accept as the claimant to agree that you want all differences resolved. This was a good substitute to lump sum settlements. And the concept of accepting cash for structured settlements was first practiced in countries like the United States and Canada.

As of today, this idea that may even lead to selling structured settlement is included on the statutory tort law in various common law nations like the US, Australia, England and Canada. Each country may vary on their definition of the term and the processes involved. Some countries include on the structure the benefits, spendthrift requirements and income tax matters.

The Process

If the idea is still unclear and you may want to find out how all these would lead to selling structured settlements or how some people or companies offer to buy structured settlement, here is a brief rundown of what usually goes into the scene.

If you are the injured party, you are the claimant in this case. The insurance carrier in this scenario is the defendant. When you agree to settle a tort suit with the defendant, both parties will also have to agree on the terms and condition.

You will drop the charges against the defendant and they will pay the agreed amount on a series of payments that can be done periodically or resort to companies that will offer to purchase structured settlement. You are now more secured that you will get the whole amount eventually. This is better than to accept promises of lump sum payments, especially if the defendant cannot really shoulder such amount and hand it to you immediately.

Marc is in the structured settlement industry and has been a financial advisor to countless people in tort lawsuits. Learn more about types of annuities and how structured settlement annuities will work for you.

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