If you want to opt for debt consolidation non profit, first thing is to choose a non profit debt consolidation company. In order to check whether the consolidation company that you have chosen is a non profit one, the best way is to browse through the ‘About Us’ section in its website. If it is a genuine non profit one, then there will be RS 501(c) (3) non profit charitable organization status in the website. However, you also need to check that your selected non profit debt consolidation company is a credible one. To check its credibility, you can browse through the website of Better Business Bureau (BBB). If the company has a good record with BBB website, you can be rest assured about its authenticity. This step is very vital because if you get trapped in the hands of an unethical debt consolidation company, all your efforts to eliminate your debts will be completely aborted and you debt situation will aggravate.

However, the non profit debt consolidation company that you have chosen, first assesses your financial situation and it is also responsible for offering you free counseling session. Thereafter, it engages into consultation with your creditors and decides upon your single monthly payment amount. The single monthly payment is generally less than the total monthly payments that you were paying before opting for debt consolidation non profit. Whatsoever, you are required to make the single monthly payment to your consolidation company. The consolidation company then distributes the amount to your creditors. And, by making the single monthly payment amount for a certain period of time, you finally become free of debts.

Debt consolidation non profit is a very popular program to eliminate debt. And, this is a far better option than filing for bankruptcy. Going into bankruptcy inflicts a permanent damage to your credit score. On the other hand, by consistently following the non profit debt consolidation program, you can actually increase your credit score

How does a debt consolidation program work?

When you have multiple credit card debts and you do not understand how to pay them off, you may enroll in a debt consolidation program to get rid out of debts. When you enroll in a debt consolidation program, the debt consultant negotiates with your creditors so that they may reduce the interest rate on your debts. This makes it convenient for you to pay off your multiple debts by making a single monthly payment within your budget. Thus, when you pay off your debts, it shows your willingness to repay your debts on time. You should remember that debt consolidation has a positive affect on your credit score.

How does debt consolidation affect your credit score?

The three major credit bureaus Equifax, Transperian and Transunion carry the necessary information about your credit score. Your credit score may be different in the three credit bureaus due to the difference in the data. You should check your credit report and credit score once or twice in a year. If you have made late payments on your debts or you may have missed some of your payments, then your credit score would fall down. However, you can improve your credit score by actively repaying your outstanding debts on time. In case, you find that you have cleared all your outstanding debts but your credit report has not improved, you should talk to the credit bureaus so as to update your account as “Paid in full”.

Why is FICO credit score important?

The FICO credit score is used by the creditors so that they can understand your creditworthiness. Your credit score is an important criterion that most of the creditors take into account in order to determine the interest rate that you will be charged on your loan and credit cards.

The FICO credit score ratings range from 350 to 850. In this, 850 is the best credit rating where you get low interest rate if you take out a loan. If your credit score is below 600, then you will be charged high interest rate on the loan amount that you take out.

So, if the thought of bad credit score has put you in tension, then you should take the needed steps to improve your credit score by making your debt payments on time. This will help you improve your credit score and get back to a good credit score once again.

Whether you are trying to stabilize your financial situation, prepare for future goals, or need some retirement planning, you need the help of a certified financial planner.

No matter whether your vision is large or small, we can help you turn your dream into a reality.

Call Alex Today at 248-650-7990 and let him help you navigate your financial future.

Mark Twain said: “Plan for your future because that is where you are going to spend the rest of your life”. Asking smart questions is the only way to get the information you need to start planning your future – the rest of your life… and yes that means retirement. Consider the following questions to ask your financial advisor about retirement planning.

How much will I need to live comfortably in retirement? Most people would like to retire on the equivalent of 40% to 75% of their incomes, depending on your personal goals and the lifestyle you wish to maintain during your retirement years.

How can I achieve my goals when I am retired? Too often advisors focus on the ‘how much’ question and forget that people still have goals and aspirations when they retire. There needs to be more what, when, where questioning.

To save enough for retirement how much should I be investing? The younger you are the easier this will be to achieve…but it’s never too late! Your financial advisor will calculate how much you need for living and for your goals in retirement.

Where will my income come from when I’m no longer working? Various sources of income could be rentals, bonds, interest and even the drawdown of capital. This will all depend on your circumstances.

What sort of investments should I be making to achieve my ideal retirement figure? There are plans such as the 401k in the USA and KiwiSaver scheme in New Zealand that are a good start for anyone. Then or course there are other retirement investment accounts that your financial advisor can recommend. Remember that many things you do during your life will help you to get to your end goal. Follow your plan.

What if I wanted to retire early, can I do it? Your financial planner will ask when you plan to retire and design the plan around this goal. They will also let you know if it is possible and what you need to do to accomplish this.
What fees will I pay? This will include any plan fees but find out also if there are any commissions paid to the advisor that will affect your investment returns. It is best to pay a plan fee and know what you are liable for.

The answers to any of these questions about retirement planning will depend on your particular circumstances and the assessment done by your financial advisor. Ask the questions and follow your plan.

Lyn Bell has been in the finance industry for more than 30 years and is a Certified Financial Planner. She has helped many clients achieve their financial goals. Sign up to get Lyn’s free newsletter SoundFinance News and receive a free gift.

Please note this article does not contain specific advice and is for information/education purposes.

A disclosure statement is available free on request.

Article Source: [http://EzineArticles.com/?Questions-to-Ask-Your-Financial-Advisor-About-Retirement-Planning&id=5587085] Questions to Ask Your Financial Advisor About Retirement Planning

During my research, I came this article that can help give you a good starting point. The whole process can be mind-numbing and monotonous, but you should read it over to give you a better grasp on your finances.

And if/when the time comes to hire a financial planner, you will be better equipped and have a better idea of what to look for.

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Financial Planning – Get the Big View of Your Finances
By Robin Applegarth

Many people are adept at handling their daily finances. Paid the bills? Check. Shopped for the best deal on that new TV? Check.

But what happens with the bigger picture? If you’ve ever had a nagging feeling your money could be working harder and smarter, consider doing some financial planning.

The process is like taking a hike up a nearby mountain to get the big view. It will take some time and a little effort. But, with the landscape laid out in front of you, it can be easier to find the best road to any destination. Plus, you may see intriguing new areas to explore.

How does it work? Financial planning starts with taking a holistic look at short and longer-term goals. Next, it’s followed by making a financial plan to reach those goals. Make your dollars match your values, and meet your overall needs. You may be surprised to find larger strategies you’ve overlooked.

There are times when it’s best to seek professional advice, but there is much you can do yourself. First, we’ll explore steps you can take. Then we’ll find out when it’s smart to hire a pro.

“Do-it-yourself” financial planning

Here are some planning actions you can take.

Think about short and long-term goals. What are your dreams? Do you want to buy a home, get a college degree, or travel the world? Maybe you long to retire early. Start a notebook or online diary to record your goals.

Take inventory of where you are now. How much savings do you have? How much are you earning and spending? What are your personal assets and debts? Record your expenses for at least 3 months to really get an idea of where your money is going. You can use resources like Mint.com, Kiplinger’s  budget form, or programs like Quicken.

Go over your basic needs, including risk management. Make sure you have the right kinds of insurance for health, home and possessions. If you have dependents, or own things, make sure you have a will or trust so you get to say what happens after you’re gone.

Pick a goal and create an action plan. Let’s say you want to buy a home, but don’t have the savings. It’s suggested that monthly payments and other housing expenses don’t exceed 30% of your average income. Work with this figure to see what you can afford, and what you’ll need to save for a down payment. Go to Bankrate.com for calculators that will tell you how long it’ll take.

Review and revisit your goals and progress every month.

When to hire a professional planner–If you were organizing a large wedding or event, hiring a caterer would be smart. And most of us would head to a medical professional for health problems we did not understand. Likewise, consider hiring a competent financial planner if you find yourself in any of the following situations.

If the sums are large, consider additional help. Did you get a life insurance payment, or inherit Aunt Susan’s estate? If you’re fortunate enough to have received a windfall or inheritance, you’re a good candidate for help.

If your finances are complex or disturbing you, get assistance. Are you headed for bankruptcy or juggling too much debt? Not sure whether you’ll meet retirement goals?

If you’ve had a recent divorce or loss of spouse,consider help. This is a time when people feel fragile, and may not be at their best to make informed decisions. Ask a trusted professional what your options are, and then take some time to reflect before acting.

If you’re unable to move forward or make decisions about your money,seek help. This might be just the step you need to get your finances in order.

So, how does one find a trusted professional? It’s best to choose someone who bases their advice on a per-hour or per-job fee, rather than commissions alone. This will help insure there’s no conflict of interest. A top-trained planner often has earned the CERTIFIED FINANCIAL PLANNER designation. You can search for these and other fee-based professionals at the National Association of Personal Financial Advisors.

Financial planning-by you or someone else–can lead to added awareness about how your money serves your life.

Robin Applegarth holds a certificate in Personal Financial Planning from the University of California, Riverside. She is the founder of a website, http://TheSilverPurse.com/ to help women build financial security. Read more about finding your unique goals http://TheSilverPurse.com/Set-Goals

Article Source: [http://EzineArticles.com/?Financial-Planning---Get-the-Big-View-of-Your-Finances&id=4828836] Financial Planning – Get the Big View of Your Finances

This isn’t the same as deciding which bank to put your savings into or how much life insurance you need. Your very financial future depends on finding the right person or company for the job.

The right financial advisor can help you save for that new home you have always dreamed about. They can also be the difference between being financially secure in your retirement or having to apply for food stamps or government assistance.

That may sound a little far-fetched to you, but it has happened to more good people than you can imagine. You need someone you can trust to look after your interests, not just his/her bottom line. You also need someone who knows what they are doing. Finding both of those qualities in one person is important.

Here are a few questions you should ask financial planner you are considering.

How much will you need to live on when you retire? Many people will spend hours, days, or even weeks planning and fussing over things like their next vacation, what car to buy, or simply what to wear to a party. But many, if not most, give little thought to their retirement before age 40. By then, you are cutting it close.

What is the best way to achieve your goals? Retirement is more than just surviving or getting by. You have dreams and aspirations. Perhaps you want to travel the world or spend the winter months in a warmer location. Being from Michigan, we can all relate to that.

What about your goals before you retire? How can you afford that dream home you always pictured? Perhaps you want to go into business for yourself, if you aren’t already?

These are all questions that a qualified financial planner can answer.

To sum up, if you have goals and financial dreams, and don’t we all, then you need the services of a qualified and certified financial planner.

I have known Alex Litrichin of Complete Financial Concepts for over 6 years and I have never had reason to look elsewhere. You will not find a financial advisor more honest, professional, or qualified.

Whether you live in Michigan or anywhere in the United States, I strongly recommend that you give Alex a call.

His location is 134 W. University, Ste. 319, Rochester, Michigan, 48307, but he has clients all over the country, so location is not a problem.

So give him a call at 248-650-7990 anytime M-F, from 9am to 5pm.

Note: Mention this site and get a free consultation and financial management analysis.