1) The first thing to do is input your current household balance. Do NOT use the 'Reset Household Budget' option. Instead, use the 'Credit' option on the 'Credits and Debits' page (see paragraph 2 below).
The 'Reset Household Budget' option is to be used only when you fail to enter a 'Credit' or 'Debit' and need to balance your Personal Finance Center against your bank statement.
2) To set your current household balance, use the 'Credit' option on the 'Credit and Debits' page. Insert today's date, select the 'Credit' radio button, enter an amount, then click the 'Add Record' bar.
3) Now you are ready to begin inputting debits (payments) as they occur. Simply enter the date of the payment, select the 'Debit' radio button, enter an amount, and then choose the appropriate 'Type of Payment' option. If; for example, you are recording an auto loan payment, select 'Auto Loan' from the 'Type of Payment' drop down menu. Next, if the payment will reach the creditor late, select the 'Late Payment' radio button. If you are paying the bill by check or money order, enter the check/money order number. If paying by cash, simply leave the 'Check Number' field blank. Finally, click on the 'Add Record' bar and you're done!
4) After entering Credits and Debits, click on the 'Credit Grade' option to view an estimation of your credit score, and to review Tips on how to improve your credit. Note: The 'Credit Grade' is an estimation only, and does not factor in any defaulted debts or transactions prior to the date you began using the software.
MISTAKES? - How to correct a 'Credit' or 'Debit' entry:
*) Place your mouse pointer over the entry, click your left mouse button once, then click on the right mouse button. From the menu that will appear, highlight (select) the 'edit record' option. It's that easy!
SORTING RECORDS - CreditFederal.com makes it easy:
*) To sort (view) specific records, click on the 'View History' icon, located to the upper right of your records entries. A small box will appear.
*) You will have the option to View 'Credits' or 'Debits'.
*) If you select 'Credits', you have the option to view all Credits, or Credits that occurred during a specific time frame.
*) If you select 'Debits', you have the option to view all Debits, or Debits that occurred during a specific time frame, and/or to view Debits by 'Type of Payment'. This feature is most useful for seeing how much you spend in each 'Type of Payment' category, plus to calculate expenses which may be a tax deduction factor for your situation.
CREDIT GRADE - Late Payments and other Factors:
*) This software will provide a 'Credit Grade' estimation. The Credit Grade is an estimation only, based upon your 'Credit and Debit' entries and does not calculate defaulted debts. If; for example, you defaulted on a medical bill, the software does not factor that in that debt. Also, if you create a New 'Type of Payment', our software will not factor in those payments/debits. Hence, we suggest using our pre-installed 'Type of Payment' options.
*) The software can; however, give you a 'Credit Grade' estimation based upon your 'Credits and Debits' entries.
*) The software will make adjustments to the 'Credit Grade' based upon these 'Credits and Debits' entries: Late Payments, No Revolving Credit (Credit Cards), No Active Loans, and Debt-to-Income Ratio.
BILL DUE DATES - Payment Reminders: CreditFederal.com offers two ways to help you remember to pay your bills on time:
*) You can use the Bill Due Date page of your Personal Finance Center. On this page, you simply type in your bill due dates, and check it daily to see if any bills are due.
*) Or, you can use the Free Email Reminders provided by CreditFederal.com.You can set up reminders to be sent to you via email days or weeks before each bill is due, and you can setup automated monthly reminders as well. This free service is available at www.creditfederal.com/reminder-pay-bills.html
24 HOURS A DAY - CreditFederal.com is ready to help:
*) As you use the software you will see tips on how you may improve your credit, as well as financial offers. The 'Click Here' links will send you to the appropriate section of CreditFederal.com where you can apply for credit cards, loans, debt help and other services. (Note: In order to access CreditFederal.com via the Personal Finance Center links, your computer must already be online.)
HISTORY - The CreditFederal.com Personal Finance Center software:
As a free public service to consumers, CreditFederal.com developed this useful and easy to use software. CreditFederal.com wants to be a vital and beneficial service to U.S. consumers of all credit types, and not simply a financial resource to obtain credit. From January 2001 to present, CreditFederal.com has served millions of U.S. credit consumers, but none more important than you.
The software includes these financial functions:
* Balance Calculator - users can view their current household balance, as well as sort and view expenses and deposits by Type, Date, and other factors.
* Bank Checking Account Statement Manager - instead of merely their checkbook register, users can manage their checking entries via the software. Whereas checkbook registers (printed ledgers) do not offer the ability to rearrange or sort entries, CreditFederal.com's software facilitates these actions.
* Bill Payment Reminder - our newest release includes a Bill Due Date section. Users can input their bills and when they are due to help them remember to send payments on time.
* Credit Score - the software also includes a 'Credit Score' feature, which analyzes users' debits and credits to calculate a credit score.
The software is free and downloadable to business or home computers, and does not require any sensitive data such as bank account details.
There are no ads nor popups, and the software has an 'uninstall' feature which enables easy removal from a computer.
If you need an all-in-one software with a balance calculator, bank checking account statement manager, bill payment reminder and a credit score, download our Free Personal Finance software.
Debt
Paying
bills at times can be troubling, especially when debts are spiraling out of
control. Getting into debt seems to creep up and some become a major problem. To
add to the stress, late notices and phone calls about not making payments are
never ending.
Being
in debt can become so bad that late accounts get turned over to debt collectors,
then there is the added worry of wondering if a home or auto will be lost. People
endure financial problems every day and debt problems can rise quickly due to personal
mistakes, illness, not having a job, or overspending. No matter what the reason
is, not being able to pay bills can seem overwhelming. Thousands of consumers
have to deal with making a decision about how to find debt relief.
As
stressful as managing debts is, the important thing is to not let debts pile up
and get worse before seeking some kind of guidance. There are options for
learning how to budget, seeking credit counseling, debt consolidation or
negotiation, or as a last resort to file bankruptcy. Finding what will work for
your needs is most important.
Many
times the decision made will depend on the amount debt, what effect the decision
will have on the future, and how serious you will be about getting control of
bills. Some people try the do-it-yourself plan and attempt to create a budget.
This can be new for some people who never considered what their income is, or
how they have been spending their money. This is why many people find themselves
in debt.
To
try to manage debts that are late, consider contacting creditors and try to get
them to change the payment schedule. This could help ease some of the financial
burdens temporarily. It is best to try to work out arrangements early before
late debts keep building along with any late fees. If debt collectors are
contacting you, there are rules they must obey. They are not suppose to harass
you or use unfair practices when trying to collect a debt.
For
auto or mortgage loans that are not being paid, there is the risk that lenders could
repossess the auto or foreclose on the home. Unlike unsecured debts which are
not linked an asset, secured debts are linked to some collateral. In the case of
an auto, it could be repossessed even without notice, if it is in default. To
get it back, may require that not only the balance on the loan is paid, but the
fees for towing and storage costs may also need to be paid. Some people who have
financial problems may decide to sell an auto and pay off the loan.
Mortgage
payments that are late can sometimes be worked out with the lender. They may be
willing to lower or suspend the payments for a while. Sometimes the terms may be
able to be changed by extending the repayment period to reduce the monthly debt. Ask
if there are any fees for any changes.
Many
people are not able to get debt
relief until they seek out a professional who can present to them some
choices. When there does not appear to be an easy answer, professionals may be
able to give some input. Doing nothing will only lead to more debt problems.
Debt quotes are usually free, and it may provide some solutions. Be sure to
review the website for any information before applying for a quote. The more you
can learn about specific debt relief options, the easier it can be to make a
decision.
Review Disclaimer:
Review information was gleaned from the website, and is neither an endorsement by us nor an confirmation of content nor a warranty of any promises made by the website. Use the review information at your sole discretion and sole liability.
CareOne Debt Relief ServicesSM lead the industry in helping people get out of debt the smart way. If you're feeling overwhelmed, you're not alone. We've helped over 4.5 million people and we're here to help you.
All About Debt Consolidation Options - What are my choices?
Unlike other providers, we are able to provide you with multiple debt consolidation options to help you become debt-free. You'll be able to consider both a debt management plan and settlement. We'll provide you with a personalized solution based on your situation and you won't need to worry that you are being forced into a solution that doesn't work for you.
What is a Debt Management Plan (DMP)? A DMP offers significant interest and time savings* and provides you with a plan to repay your debts in five years or less. You'll be able to consolidate all of your unsecured monthly payments into one, easy payment. The DMP is not a debt consolidation loan where the equity in your home is used to pay down your debt.
*The savings are based, in part, on the average of a recent sampling of annual interest rates charged by creditors that participate in our plan and an assumption that only minimum monthly payments are made.
What is Debt Settlement? Debt Settlement is a negotiation by a settlement service provider or lawyer with your creditors to pay back a portion of your unsecured debt. You make monthly deposits into a debt settlement account in an amount you can afford. You do not make monthly payments to your creditors. When settlements are reached with creditors, settlement payments are paid from the debt settlement account. Settlement will have a negative impact on your credit.
Choosing a Debt Consolidation Provider - CareOneSM providers are proud to have helped over 4.5 million people tackle their debt. As you choose a provider, be sure to check their reputation, such as their rating with the Better Business Bureau (BBB). Beware of providers that are less than reputable - their high fees and unethical practices can you leave you in a worse financial condition than when you started.
If you are struggling to keep up with your monthly credit card payments, a Debt Management Plan (DMP) with a CareOneSM service provider can help by consolidating all of your unsecured debt into a single monthly payment. We negotiate with your creditors for better repayment terms, such as lower interest rates and waived late fees, which can save you considerably each month.
Our DMP includes comprehensive debt counseling from certified counselors nationwide, superior customer service, and technical expertise. When you successfully complete our plan, you will have fully paid off all of the unsecured debts you started the plan with, and will be armed with the knowledge necessary to manage your finances on your own. Bankruptcy is usually a last resort to debt consolidation that involves a complex legal process created by Congress to provide relief from financial distress when you can no longer pay even a portion of your debts. Once we review your situation and if bankruptcy appears to be appropriate, we will connect you with a national law firm to help walk you through your bankruptcy options.
Debt Consolidation is a widely-used term to describe debt repayment plans* that allow you to get you out of debt as quickly as possible.
There are really two types of debt consolidation plans available in order to provide these benefits - a Debt Management Plan or a Settlement Plan. There are important differences between these plans that you should understand.
So which plan is right for you?
Determining which plan is right for you really depends on your specific situation including the type of debt you have, your income and ability to make consistent payments, and what you agree is affordable.
Within this guide, we'll walk you through your options so that you can understand which path works best for you. We invite you to explore both programs and learn how they work, who they are designed for, and what are the pros and cons of each.
As providers of CareOne Debt Relief Services®, we are committed to delivering realistic solutions that can make financial freedom a reality.
Call Us Now! 1-888-888-CARE
Personal Finance Help:
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What is credit card blocking? Why is there a hold on my credit card? Retailers, often gas stations, may put a hold on some of the funds in your account to cover purchases you make with a debit or credit card. This is known as debit or credit card "blocking." Retailers may do this to make sure that you have enough money in your account to cover the purchase or that you do not go over your credit limit. Sometimes the block or hold on your account is for more than the amount of your purchase. Also, the hold can last for a day or two, until the transaction is fully processed. Generally, there is no federal law limiting the amount of the hold or block, so when comparing credit and debit card offers, shop around. You may want to consider doing business with card companies that use shorter blocks.
