The longer you hold a debt, the more expensive that debt becomes. Late payment charges and compounded interest can turn a few reasonable charges into a long-lasting burden. Paying off debt is not only a good choice, it is the best one. It’s time to find other sources of cash money to pay your debts. You may have unclaimed money you don’t know about.
Unfortunately, as debt continues to grow, it becomes more difficult to pay off. Many people struggle with the minimum monthly payment on their credit cards. If you have to worry about keeping up with incoming bills, you may believe that there is no way to pay the balance in full.
Where to Find Cash
Some individuals take out loans in order to pay off previous debts. This is seldom a good choice, as it only adds to the amount of money that you owe. It is best to pay off debts completely so that you can begin living debt-free and can rebuild your credit.
Saving money can seem impossible when you are struggling with every day bills. However, if you closely watch your spending habits, you may find that there are places that can be tightened. Try to quit smoking, eat out less often, and stop purchasing canned or bottled beverages. Unnecessary expenses, like lottery tickets or junk food, can be cut out completely.
You may also be able to borrow money from family or friends. If they are aware of the financial troubles you have, and know that you are attempting to get out of debt, they may be more willing to help you than you think. Even if they are unable to give you the amount you need, they may be able to contribute in some way.
Do You Have Unclaimed Money to Pay Your Debts?
Thousands of people all over the country have cash in their name and don’t even realize it. The National Association of Unclaimed Property Administrators, or NAUPA, can connect you with your state’s treasury department, which holds unclaimed funds. These funds come from a variety of sources including money that was left in bank accounts, utility and security deposits, and contents from safe deposit boxes.
Find out if you have unclaimed money is simple. Each state has an online portal where you can check to see if you have money waiting for you. Search for your name in every state where you have lived. If you find that you do have unclaimed money, you can file a claim form to receive your funds.
While searching for unclaimed assets, you should not only search your own name but also the names of relatives. Those who have deceased may also have funds in their name. If you are next-of-kin, you may have a right to the money that has been left behind.
Paying Off Debts with Unclaimed Money
Finding unclaimed assets can be a wonderful surprise, but often the amount that is found is not enough to completely pay off debts. If you find this to be the case, you can try to settle the debt that you owe. Choosing to consolidate debts can lower the amount owed significantly. You can often pay the debt in one lump sum that is much smaller than the actual amount owed or can pay off the charges over time.
In order to consolidate debts, you must have access to a reputable company that is experienced in consolidation through settlement. Many companies will require that you pay an upfront fee in order to lower the amount of money that you owe. A trusted, well-respected debt consolidation business will not charge you at the outset of the process. Legitimate debt consolidation companies know that you do not have extra money to spend, and that you will not have any extra money until your debt is paid.
Contact us today for a free debt analysis. Our experts will study your financial situation and help you to understand what your best options are for getting out of debt. You can also complete this form so that our debt consolidation professionals can begin looking over your issues immediately. There is no commitment when you contact us. You are simply taking one step in the best direction to getting out of debt for good. Call or complete the form today.