If you’re trying to get out of debt today, there are many resources out there that you can use.  From watching a DVD to reading a book, it’s hard to determine where you should start to do your research, especially if you’re new to all of this. 

When it comes to myself and my own preferences, I tend to read books and articles online because it seems as the only resource that sticks with me when it comes to learning.  As for watching DVDs, it’s hard for me to go back and reference things when I have a question or concern.

I did some research on thousands of books online.  I read reviews, read a few of the books and picked out a few books that you should read when it comes to debt collection and books.

Suze Orman’s 2009 Action Plan:  Suze Orman and her popular CNBC show has hit the bookshelves.  In fact, she has written many great books in the past.  She gives you all the information you need to know how to get out of debt and stop spending the stupid way.  If you want the facts and you don’t want people to give you a pity party, I highly recommend her advice.  With this action plan, she’s going to show you how to save for retirement, how to make more money, how to save it the right way and most importantly, how to pay off those silly debts you have.

Debt Collection Secrets: Everything The Debt Collector Doesn’t Want You To Know:  If you’re debt today, you’ve probably already have dealt with the debt collectors and while they should call you to get the money they want, there are some things that they do in order to get your money.  This book written by Terry Black goes into detail on what you should know when it comes to the debt collection agency market.

Collection Agency Harassment: What the Debt Collector Doesn’t Want You to Know:  Just like the book I just mentioned, this book goes into detail on how the collection agency market harasses people in order to collect their money.  Some of the things they may do are illegal but you may not know about it.  This book allows you to understand your rights, fight the agencies and simply informs you.

There are literally hundreds of books out there that deal with debt and collections.  Check out the few I mentioned above and see if it’s anything you want to read.  The more you know and the more you read, the more you become informed about your debts.

I’m not sure if anyone here is a fan of Dateline but the other night they had a very good special on debt collectors and their shady practices.  Whether you’re in debt or you’re debt free, it’s a great special to view.  I’ve embedded the video for you to enjoy.

Watch the Debt Trap Video

Debt management plans are a great way to go if you’re ready to get back on your feet and you’re serious about getting out of debt.  Whether you have your own plan or you plan on hiring a firm to do it all for you, there are some important tips that you have to consider when you’re looking to fight debt.

Always make payments on time

When you gather all of your bills, you have to have a focus of paying each bill on time, all the time.  The least you want to do is at least pay the minimum.  If you find you’re having a hard time paying the minimum, you’re going to want to look into getting extra cash by either getting a second job or selling things.

Make sure that your accounts are up to date

To avoid those pesky calls from debt collectors, you want to make sure that you’re up to date with your accounts.  If you use an online bill pay service, you’ll want to make sure you’re paying the right place.  In the past, I’ve made the mistake of paying the wrong company and I didn’t find out until a month later.

If you can’t pay, negotiate with the credit companies

If you find that your bill is getting attacked with interest rates and you just can’t pay it anymore.  A few months ago, I wrote a post on how you can negotiate with the credit card companies.  Many people don’t think you can do this but you really can and sometimes you can find that you can cut almost 50% off your total bill, it’s well worth it.

Research the debt management company

If you do decide to go with a company to help you manage your debt, make sure that you check with the BBB to ensure that they are a legit company.  You’ll want to make sure that they are paying off your creditors and not doing anything shady.

Managing your debt yourself can be done fairly easily and as long as you read a few tips here and there online, you can get a lot accomplished.  It takes a little action and money to throw toward your debt.  If you’re serious about it, you’ll soon see your debt disappear.

Bad credit affects a lot of us today and while there’s nothing good about having it, there are truly a lot of us out there that are looking for ways to rebuild their credit.  While credit cards are generally the way to go, there are some things that you have to remember when rebuilding your credit.  You have to learn from your past and you have to be responsible.  If don’t think you can change, you may have to resort to just using cash or a debit card.

Let’s take a look at credit cards that help rebuild your credit –

Start with a secured credit card…

When people are looking to rebuild their credit, they usually look toward a secured credit card.  This is by far one of the best ways to rebuild your credit.  You’ll simply look for a card that fits your needs and you’ll supply the bank with a “deposit”.  This deposit will then become your credit limit.  It’s going to act like a gift card in a way. 

The reason the banks ask for this deposit is because you’re still a high risk and if you don’t pay your card off in full, they can simply dip into this account and take the money they need making it easier for them not to worry about losing money.  When looking for a secured card, always look at the fees and make sure they report to the major credit bureaus.

Also, look at prepaid credit cards…

When people think of a prepaid credit card, they don’t think of it helping your credit.  Instead, they think of it like a gift card but did you know that there are prepaid cards out there that can help with building your credit back up?

Just like a gift card, a prepaid card is no different.  Simply place money into your deposit account and use your card.  This is great for discipline and safety as well.  When applying for a prepaid card, always make sure you look out to see if it reports to the major bureaus as well as the fees because prepaid cards can kill you when it comes to weekly and monthly fees.

When looking to rebuild your credit, consider these two options because in my opinion, I think these are the best routes to take.  They will make you a better person when it comes to credit cards as well as build your credit for a better future.

If you’re like me and you really don’t want to get professional help when it comes to debt, that’s fine and I don’t blame you!  It can get awfully expensive after a while and hey, I learned everything I talked about online.  If you have the passion to learn something, you’ll have no problem learning something.

When it comes to managing your debt, I’ve recommended books in the past as well as experts that you can use.  If you don’t think any of those are going to work out, did you know that there are debt management software packages out there that can help you?  There is and I’m going to show you what packages you should look at when it comes time to manage your debt on the computer.

You Need A Budget Pro – Personal Finance Software Program:  YNAB is one of the best rated pieces of budget software on the Internet today.  This simple yet effective piece of software is going to run you only $50 and it’s going to show you where you’re spending your money and how you can gain control of your spending.  Generate reports, schedule transactions and more all with this power CD.

The Debt Optimizer – Debt Reduction Software:  The Debt Optimizer is expensive but many people have told me that this is the only piece of software that they truly think is worth the money, this is why I’m telling you now not to base something solely on the price.  With the debt optimizer, it will show you how you can automatically reduce or eliminate your car loan and consumer debt as well as show you how you can keep your current lifestyle but take apart your debt as well.  They are so confident that you’ll like their software that they will give your money back if it’s not good enough!

Zilch Standard – Debt Reduction:  Zilch Standard is an older piece of software but it’s still an effective piece.  Since financials generally don’t change over the years, getting out of debt will always be the same.  This software will build a step-by-step plan on how to get yourself out of debt as well as create a personalized payment schedule on how you can pay each creditor each month.  It’s easy to use and can accept any combination.

When getting out of debt and you don’t want to use an expert and you want some help via some software, I would consider some of these pieces above.  They should be able to help you out.  Look at some of the links and read the descriptions and hopefully you can make a  decision.