I have a friend in the US who is researching Pump and Dump Schemes, he believes he can create a system which will enable him to “Short” the schemes as they are being promoted.  Pump and Dump schemes are of course what underlies some of the Free Penny Stock Newsletter Companies or scams as I like to call them.  Read more about pump and dump here.  He believes he will be able to beat them at their own game.  This is a risky business because they control the data and the timing and he does not.

Anyway he told me about the many people who he speaks with and how they actually got into debt because they believed in these scams.  Can you believe that.  Not only did they lose their investment pot, but even believed in Penny Stocks or Hot Stocks so much, that they even took out loans to invest in these schemes and follow these self proclaimed gurus.  These types of stories are heart wrenching and inevitably end in breaking the family home also.

So a word of warning.  Only believe in yourself, trust yourself and if you do not have enough knowledge or confidence, do not invest in stocks.

I have today a Guest post from a gentleman called Jason Holmes.  I think it provides some good advice on what to do if you do get into debt and cannot manage the situation anymore.  Of course if you are in debt, you certainly should not be investing in the stock market.  I thank Jason for his contribution.

————————————————————————————————

How bill consolidation helps you

If your outstanding bills are giving you a nightmare, the bill consolidation program is the solution you are looking for. It is a program that helps in your hour of need when managing too many bills together becomes difficult.

What is a bill consolidation program?

• A  bill consolidation program gives you the opportunity to combine all your monthly debts into one monthly installment which is to be paid to the consolidation company.
• This is further distributed to your multiple creditors.
• Interests and fines are greatly reduced so that you can pay your debts more easily.

How the program works

The primary aim of bill consolidation is to help get your debt scenario under control. Once you enroll in the consolidation program, the company you work with assesses your financial state based on which a fixed monthly installment is decided. The monthly installment is used to pay all your creditors. The company also negotiates lower rates of interest with your creditors and thus you pay less.

When do you need to opt for the program?

• When you have trouble paying even the minimum payments, which means your debt has gone out of hand.
• If you are regularly paying late fees, and finance charges.
• If you are getting constant harassing calls from creditors and collection agencies.
• If paying so many monthly installments is leaving no cash in your hand.

Benefits of the program

• Brings down interest rates that the company negotiates with the creditors. As the interest rates are lowered, you pay less and you’re thus are left with more cash every month.
• Monthly payments become manageable so you pay off your debts faster.
• Saves your credit rating from further damage and gradually improves credit score.
• There is an immediate end to threatening calls from creditors, as after you have enrolled in a debt consolidation program, all your creditors are informed and their calls are diverted to the company.

Thus, bill consolidation is one of the most feasible solutions that can help you cope up with debt problems and give you fast relief as well.

Author Bio –

Jason Holmes is a regular writer with Debt Consolidation Care and is also a contributory writer with other financial sites. His expertise is woven around various aspects of the debt industry and with his e-books he tries to impart to people the different situations and simple solutions to get out of difficult situations. Some of his works include e-books like ‘Credit Score The Quintessential Therapy for a Happy Pocket’, ‘Take Creditors and Collection Agencies to Small Claims Court’ and, ‘My Story- From Depression To a Smile’.

————————————————————————————————

So never risk more than you can afford to lose.