Solving debt problems all by your self can be very stressful and can affect all aspects of your life. In order to become aware of your options, you can try going for debt counseling. Seeking the advice of professionals can enlighten you about the possible solutions to your debt problems. It is critical however that you approach only credible and legitimate debt management firms. These companies have debt specialists who can view the structure of your debt in order to make well calculated plans of solving it.

Debt counseling can offer you well-experienced debt specialists who can work with your creditors on your behalf for possible debt reduction. Do not be ashamed to disclose your current financial situation as there are many others out there who are facing the same problem. That is why it is important that you are comfortable with the debt management firm that you are dealing with. Your trust and confidence to them are critical elements of the entire process.

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Many young couples discuss their beliefs, values, and aspirations for the future before tying the knot. However, many still avoid talking about finances. In a 2010 Zogby survey commissioned by major credit bureau affiliate zendough.com, researchers found nearly 20 percent of respondents failed, for one reason or another, to bring up the subject of finances prior to their wedding.

Discussing finances with your significant other can be scary and awkward, but being open and honest about your individual financial situation can help you avoid issues or stress down the road, Heather Schneider, education director for zendough.com, told Consumer Affairs.

The survey found that only 24.2 percent of respondents created a budget prior to matrimony.

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Paul R. Ridgeway founded the event planning firm that has worked with the National Football League on transportation, and the businessman once held the limelight while heading a campaign to keep the Minnesota Twins baseball team in Minneapolis.

Now, Ridgeway has filed for Chapter 7 bankruptcy, as the Minneapolis St. Paul Business Journal reports that the Ridgeway International Inc. founder has struggled with liabilities that outweigh his assets, and that his business offices have been foreclosed on.

The mortgage on the business headquarters is worth a little over $1 million, and it has been foreclosed on by U.S. Bancorp.

The Chapter 7 bankruptcy filing is not necessarily a surprise. News of Ridgeway’s financial issues came out in early 2009. The Minneapolis Star-Tribune reported that the charismatic businessman had a growing list of unpaid bills on his ledger and was struggling with debt.

Back then, the Star Tribune said that he owed money to members of a high school football team that parked cars during a sports tournament. T

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Borders Group, the country’s second largest bookseller who has struggled in the face of a tough economy and competition from other major booksellers and media companies, has hired a team of bankruptcy lawyers to address its financial situation.

The Wall Street Journal reports that part of these bankruptcy lawyers’ job will be to keep the company “out of bankruptcy court,” according to sources that are close to the situation.

Borders is attempting to get $500 million in credit as it eyes a restructuring in the face of problems. Kasowitz, Benson, Torres & Friedman are the lawyer group who Borders has hired to work with this restructuring.

Payments stopped to big publishers and distributors last month. The result has been that publishers have stopped sending their merchandise.

The bankruptcy lawyers who the company has brought on board will join a team of bankers as they work to avoid bankruptcy filing. The Wal

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You have just received a response from an auto loan company that your application has been declined.  According to the lending officer, your loan proposal has been rejected because of your bad credit history or low credit score. The lending company you submitted your car loan application to only accepts customers with good credit rating and obviously, you did not meet the lender’s criteria. What can you do?

Subprime Car Loans for People with Bad Credit

If your credit score is below average, then you fall into the subprime category. Does that mean you cannot get the car financing you need? Not at all! Many lending companies in the market do offer financing for the subprime market or consumers who are credit challenged. Even with bad credit, you can still get approved for a car loan but you need to find the right lender.

Do subprime car loans mean high rates and fees? Be

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Long after the holidays have passed, you may find yourself paying off credit card debt. The problem with credit card debt is its high expense and making minimum payments can take years to eliminate your credit card balances. Worse, if you lose your job or become ill, it can become impossible to make any payments. It takes very little time for an unplanned event to trash your finances and ruin your credit.

Credit card debt: Finance charges, account terms hinder debt reduction

Fine print, volumes of paper and busy lifestyles contribute to not knowing credit card terms and costs. A good starting point for a debt management plan is to make a list of all credit card accounts, their balances and the annual percentage rate (APR) for each account. The APR includes interest and penalty fees for your account; the APR can change according to the interest rate and status of your account.

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ATLANTA (Source: Equifax) - While Americans continue to pay off debts and reduce spending, Equifax (NYSE:  EFX), one of the leading nationwide credit reporting agencies, finds many households still carry a heavy debt burden – in some cases owing up to 17 percent of their income to credit card companies alone.No one region of the country is shouldering the credit card debt burden – Equifax found the top 50 metropolitan statistical areas (MSAs) hardest hit by credit card debt, as a percentage of income owed in 2010, are clustered in six states across the country: Florida, North Carolina, Ohio, Texas, Washington and California.

These states also have some of the highest total credit card balances for the country:

Equifax reports that while total consumer debt (mortgage, auto, credit card, etc.) has declined 8.2 percent from its peak of $11.5 trillion in October of 2008, 54 million American households still owe more than $800 billion in debt to credit card companies alone – irrespective of other debts such as mortgages or students loans.

“The good news is we’re seeing Americans paying off their debts and becoming more fiscally fit,” says Dianne Bernez, Equifax’s senior vice president for corporate communications. “However, the

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