Tag Archives: debt management programme

Any Advice On Entering A Debt Management Program?

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Posted by Vedis the DMP Blogger on February 15, 2010 – 4:40 pm
Filed under Debt Management Programs, Questions & Answers

Question: Any advice on entering a debt management program?

I am considering entering a debt management programme because I am way over my head in credit card debt.

I know it may not be the best debt relief solution but it seems I keep putting it off, getting no where paying down my debt.

Does anyone have advice or comments?

How Do I Create A Debt Management Programme?

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Posted by Vedis the DMP Blogger on January 31, 2010 – 2:49 pm
Filed under Debt Management Companies, Debt Management Programs, Questions & Answers

Question: How do I create a debt management programme?

I did an internet search and all lead me to already established debt management programs. I want to set up my own debt management program, which can negotiate with creditors, consolidate loans etc… How do I get started?

I reiterate: There are literally thousands of debt management, consolidation, counseling websites and resources. I am not looking to manage my own debts, I am looking to start a debt management program for other people.

I want to know what grants to apply for to begin a start up program. I want to know what regulations, fees, licenses I need to start my own debt management program so that others can come to me for debt consolidation services.

An AKPK DMP Blogger’s 2010 New Year Resolutions!

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Posted by Vedis the DMP Blogger on December 6, 2009 – 9:35 am
Filed under AKPK Debt Management Plan, Credit Card Debts, Debt Management Companies, Debt Management Programs, Emergency Funds, Income Streams, Saving Money

I love December! It’s time of the year to flush away all unhappiness and start afresh with new year resolutions.

What resolutions did I, an AKPK DMP blogger, set for year 2009? Paying down credit card debts was my No.1 new year resolution! Of course, saving for emergency fund and making more money were on the list too.

For year 2010, my new year resolutions would focus on simple, achievable goals and the priorities would be a bit different. I am going to emphasize on saving money, making money and paying down credit card and personal debts.

1. Saving for Emergency Fund. As hubby and I are in AKPK debt management programmes that require lower monthly repayments, we are able to focus more on saving money with the extra cash left every month.

So far, we have got RM1,500 in the saving account. We want to reach our saving goal of RM3,500 in year 2010. And then, from RM3,500 to RM5,000, if possible.

2. Making More Money. With God’s blessing, hubby has had a full time teaching job that brings in a steady monthly income of RM2,000.

It’s not possible to increase hubby’s income, but it’s possible to increase mine. My existing online income excluding tuition fee is between RM2,300 and RM2,600 a month.

My goal is to reach more than RM3,500 a month in year 2010 through my niche blogs. Yes, it’s possible!

3. Paying Off Some Personal Debts. It’s my hope that hubby and I can pay back at least one-third of the personal debts owed to family members.

Although most of them haven’t asked for their money back, hubby and I think that it’s better to pay them back as soon as possible.

4. Paying Down Credit Card Debts. Paying off credit card debts will be my No.4 new year resolution because I want to settle as much personal debts as possible.

Once the personal debts are gone, the money used for paying personal debts can be channeled into paying one card payment at one lump sum until every card payment is settled.

5. Staying Healthy Always. Without good health, none of the above resolutions can be achieved smoothly. My health is better than hubby’s, so I must make sure that hubby has stronger immune system and better energy in year 2010.

Without good health, how can he stand long school hours and endless discipline problems created by the students?

So, what are your new year resolutions for 2010?

A Free Debt Management Program Blogger Loves Reading Debt-Free Success Stories

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Posted by Vedis the DMP Blogger on November 29, 2009 – 9:31 am
Filed under Credit Cards, Debt Management Programs, Debt Management Tips

Having been in a free debt management program since October 2008, I must say that reading news, articles or success stories of cutting up credit cards, paying off debts and living cash-or-debit-card-only lifestyle is very inspiring.

The success stories of getting rid of debts motivate me to keep on paying down my credit card debts through the debt management plan and most important of all, they give me hope that I can be debt free one day.

I want to be like Russell and Kathy Hildebrandt who successfully pay off $100,000 debt with DMP or Lisa Brough who was forced into a debt-free life:

Lisa Brough was forced into a debt-free life by medical disaster.

Her husband has Huntington’s disease, a degenerative brain disorder, and has been unable to work since 1999. The couple, who have three children, saw their finances suffer as a result. They ended up with $50,000 worth of credit card debt as Brough worked two jobs and still struggled to pay the bills and the high property taxes on their home in Westchester County, N.Y.

“I said to myself, ‘I can’t do this anymore,’ ” she recalled. “He was going downhill, and I had to figure out a way to get out of this. I couldn’t count on tomorrow because I didn’t know what tomorrow would bring.”

In 2005, she took drastic measures. She decided to sell her $350,000 home, pay off all the family’s debt, and move to lower-cost Cary, N.C., where she was able to buy a house for $164,000 house in cash.

Since then it’s been cash and debit cards only for Brough, 50, who has no debt of any kind.

My reasons of getting into knee deep debts were more or less the same as theirs. However, their ways, means or methods of getting out of debts may or may not the same as mine.

By reading and utilizing their tips on how to eliminate the debts and save money, I hope I can be free of credit card debts through the debt management programme in a few years’ time.

The success stories of others also make me realize that it is possible to survive and thrive without depending on credit cards!