Services
Debt Education
We provide information that assists our customers in managing their personal debt, as they work their way back to financial freedom. Many of us do not keep track of how much we spend and where our money is spent. In order to be financially stable, it is important to track where your money is spent, how much is spent, and how frequently you spend. Understanding spending creates an invaluable foundation for a budget and, ultimately, for financial stability.
Keep in mind the following questions:
◙ Why am I buying this?
◙ Where is my money really going?
◙ Are these items I can do without?
◙ What is this costing me annually?
What Is A Budget?
A budget is a carefully constructed plan that dictates how much you will spend on the different things you need and want per month. Having a budget plan set can help identify bad spending habits, as well as prevent overspending.
Some may shy away from creating a budget, thinking it is too time consuming and unnecessary, concluding it wouldn't make a difference. But, in reality, taking the time to create a budget can help establish good spending habits, ultimately strengthening the fabric of a household. Following the steps listed below can help you efficiently create a budget plan that will effectively serve your needs.
-
Step 1: Gather every financial statement you can
+◙ Bank statements
◙ Investment accounts
◙ Recent utility bills
◙ Any information regarding a source of income or expenses Step 2: Record all sources of income
+If you are self-employed or have any outside sources of income, be sure to record these as well. If your income is in the form of a regular paycheck where taxes are automatically deducted, then using the net income or take-home pay amount is fine. Record this total income as a monthly amount.
Step 3: Create a list of monthly expenses
+◙ Mortgage payment
◙ Car payment
◙ Auto insurance
◙ Groceries
◙ Utilities
◙ Entertainment
◙ All in all, everything you spend money on.
Step 4: Break expenses into two categories: Fixed and Variable.
+Fixed expenses are those that occur every month and are required for your way of living. Examples of fixed expenses are mortgages, car payments, internet/cable service, and credit card payments. These expenses, for the most part, are essential but not likely to change in the budget.
Variable expenses are those that will change throughout the months. Variable expenses include groceries, gasoline, entertainment, dining out, and gifts.-
Step 5: Total of all monthly income and monthly expenses.
+Monthly income > Monthly expenses = Off to a good start!
Monthly income < Monthly expenses = Changes need to be made/ Find areas to be cut
After you have created your budget plan and have made all the adjustments needed, it is important to keep reviewing this budget plan periodically in order to control your spending habits.
Our Program
We act as an arbiter and negotiate, on our customer's behalf, with creditors to reduce the overall debts. We negotiate a manageable, repayment amount, and term plan for our customers. Our program makes it much easier to fulfill any obligations with creditors through a monthly payment to a special purpose bank account. This account is insured by the Federal Deposit Insurance Corporation (FDIC) and is owned by you personally. However, the account allows access to our debt settlement specialists to make all payments to creditors.
◙ Our program is the quickest and least expensive way to become debt-free.
◙ We have built strong relationships with an enormous amount of lenders and creditors that work with us to negotiate a great settlement for your accounts.
◙ Excel Debt Relief strives to provide our clients with the correct debt education and the best and most affordable alternative to bankruptcy.
Steps to Debt Settlement
Our debt settlement program is fast, simple, and effective. We have designed a three step program to make it as easy and efficient as possible. Below is a step-by-step overview of our Debt Settlement Program.
STEP 1:
Contact us by phone or email for a free consultation. We will then evaluate your financial situation and determine the most debt reduction possible based on your financial condition.
STEP 2:
Enroll in our program. Once you complete the enrollment process, we will contact your creditors and advise them to handle all future calls through us.
STEP 3:
After the account is paid off, creditors may report to the credit bureaus reporting that your accounts are one of the following:
"Settled" or "Settled in Full" or "Settled for less than the full amount" "Paid" or "Paid by Settlement"
This will conclude your enrollment in our debt settlement program and free you from that debt!
As time passes, you may need to improve your credit rating. We have built strong professional relationships with companies who can help you build your credit fast!
Meracord, Cross Roads, Global Client Solutions
All payments made will be forwarded to Meracord, Cross Roads, Global Client Solutions - Automatic Clearing House (ACH) companies to be processed. For more information regarding Meracord, Cross Roads, Global Client Solutions please view their websites below:
http://www.meracord.com
http://www.cftpay.com
http://www.globalclientsolutions.com
Your custom form here